Accounts Payable
Accounts Payable is a key business function that handles paying bills and expenses a company owes to others. Think of it as managing the company's checkbook – making sure vendors, suppliers, and contractors get paid correctly and on time. This role involves checking invoices, getting approvals, scheduling payments, and keeping accurate records of all money going out. It's a crucial part of a company's accounting system that helps control spending and maintain good relationships with suppliers. Similar terms you might see include "AP," "Vendor Payments," or "Payment Processing."
Examples in Resumes
Managed Accounts Payable department processing over 500 invoices monthly
Streamlined AP processes reducing payment cycle time by 40%
Supervised team of 3 Accounts Payable specialists handling $5M in annual vendor payments
Implemented new Accounts Payable software system to automate invoice processing
Typical job title: "Accounts Payable Specialists"
Also try searching for:
Where to Find Accounts Payable Specialists
Professional Associations
Online Resources
Job Boards
Example Interview Questions
Senior Level Questions
Q: How would you handle a situation where a key vendor threatens to stop supplies due to late payments?
Expected Answer: A senior AP professional should discuss investigating payment history, communicating with vendor, implementing process improvements, and developing strategies to prevent future issues while maintaining vendor relationships.
Q: What experience do you have with process improvement in AP operations?
Expected Answer: Should discuss examples of streamlining workflows, implementing automation, reducing processing time, and managing team efficiency while maintaining accuracy.
Mid Level Questions
Q: How do you ensure invoice accuracy and prevent duplicate payments?
Expected Answer: Should explain checking purchase orders against invoices, maintaining vendor records, using control systems, and following verification procedures.
Q: What is your experience with AP software systems?
Expected Answer: Should be able to discuss common AP software, basic troubleshooting, and how these systems help in daily operations and reporting.
Junior Level Questions
Q: What is the basic process for processing an invoice?
Expected Answer: Should describe receiving invoices, checking details, getting approvals, entering data, and scheduling payment while maintaining accurate records.
Q: How do you prioritize payments when managing multiple invoices?
Expected Answer: Should mention checking due dates, payment terms, vendor importance, and available funds while following company policies.
Experience Level Indicators
Junior (0-2 years)
- Basic invoice processing
- Data entry and filing
- Using AP software
- Processing expense reports
Mid (2-5 years)
- Managing vendor relationships
- Payment scheduling
- Month-end closing
- Training junior staff
Senior (5+ years)
- Process improvement
- Team supervision
- Policy development
- Audit preparation
Red Flags to Watch For
- Poor attention to detail in application materials
- No experience with accounting software
- Unable to explain basic payment processes
- History of handling money without proper controls
Related Terms
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