Accounts Payable/Receivable Specialist (SMB) Job Description Template

-

Process Vendor Invoices & Payments: Receive supplier invoices, verify appropriate documentation and approvals, code expenses to correct accounts, and enter bills into the accounting system for payment

. Schedule and execute payment runs (checks, ACH, etc.) in line with vendor terms, ensuring bills are paid on time to maintain good supplier relationships

.

-

Issue Customer Invoices & Manage Receipts: Generate and send out customer invoices promptly for sales or services rendered. Record incoming payments daily (checks, ACH, credit card receipts), prepare bank deposits, and apply payments to customer accounts accurately .

-

Monitor Aging & Collections: Track accounts receivable aging reports to identify overdue accounts. Proactively follow up with customers on past-due invoices via phone and email, send payment reminders, and arrange payment plans if necessary to minimize delinquencies

. Similarly, monitor accounts payable aging to ensure the company meets obligations and avoids late payments or penalties.

-

Reconcile Accounts & Records: Regularly reconcile the AP and AR sub-ledgers with the general ledger to ensure consistency and accuracy

. Perform monthly bank reconciliations for accounts related to payables/receivables, identifying and correcting any discrepancies or unrecorded transactions.

-

Resolve Discrepancies: Investigate and resolve any billing or payment discrepancies. Examples include researching invoice discrepancies (e.g. price/quantity mismatches with purchase orders), addressing vendor invoice errors, and handling customer payment issues such as short payments or disputes

. Work with relevant parties (vendors, customers, sales team, purchasing, etc.) to correct errors and ensure accurate records.

-

Maintain Financial Records: Keep organized documentation for all AP/AR transactions - including invoices, receipts, purchase orders, and correspondence - in an easily retrievable system. Ensure records are complete and audit-ready, retaining copies of invoices and payment confirmations as required for compliance and tax purposes

-

Reporting and Communication: Prepare routine reports such as accounts receivable aging summaries and accounts payable schedules to inform management of cash flow status. Communicate any notable issues (e.g. significantly overdue accounts or cash shortfalls) to the finance manager or controller promptly. Provide excellent customer service in all communications, maintaining positive relationships with vendors (e.g. addressing inquiries about payments) and customers (e.g. clarifying billing questions) .

-

Support Month-End Close: Assist with month-end and year-end closing activities related to AP and AR. This includes making any necessary accrual journal entries for unrecorded expenses or revenue, reconciling any differences, and preparing documentation for the accounting team to ensure the financial statements accurately reflect payables and receivables . Provide supporting data for audits or financial reviews as needed.

-

Accounts Payable/Receivable Expertise: Solid understanding of fundamental accounting principles and the full AP/AR process cycle, including invoice verification, 3-way matching (matching invoices to POs and receiving documents), billing, collections, and basic bookkeeping . Prior hands-on experience (2+ years) in accounts payable and/or receivable is expected for proficiency.

Software Proficiency: Strong ability to use accounting software (e.g. QuickBooks Online or similar SMB accounting systems) for data entry and record-keeping

. Advanced skills in Microsoft Excel (formulas, pivot tables, VLOOKUP) for financial data analysis and reporting

. Comfortable with office productivity tools and collaboration platforms (e.g. Microsoft 365 or Google Workspace) for documentation and communication .

& Accuracy: Exceptional accuracy in handling numerical data and transactions. The specialist must be meticulous in reviewing invoices, payments, and account records, catching errors or inconsistencies before processing

. Small mistakes in invoice entries or payment application can have significant consequences, so a detail-oriented mindset is critical.

Time Management & Organization: Proven ability to manage multiple priorities and deadlines effectively

. In an SMB setting, this role often handles a high volume of transactions and tasks

(e.g. invoice batching, month-end close, daily deposits). The specialist should excel at organizing work, using checklists or schedules, and prioritizing tasks (for example, considering payment terms and urgency) to ensure nothing falls through the cracks

Communication Skills: Excellent written and verbal communication skills to interact professionally with both external partners and internal team members

. This includes the ability to explain payment policies or resolve billing issues with customers in a clear, courteous manner, and to liaise with vendors regarding invoice questions or discrepancies. Being service-oriented and tactful is key, as this role often represents the company in financial matters.

Problem-Solving & Analytical Ability: Strong analytical skills to reconcile accounts and investigate discrepancies independently

. The specialist should be resourceful in researching issues (e.g. why an invoice doesn't match a purchase order, or finding the cause of an out-of-balance ledger) and resolving problems by implementing appropriate solutions. A knack for numbers and logical thinking is essential for troubleshooting and process improvement.