Accounts Payable Specialist

Accounts Payable Processing Specialist

Our Life Sciences client needs help with their year end finance operations. There is an immediate 3 4 months contract opening for an Accounts Payable Processing Specialist to handle direct and indirect invoices. Experience with SAP Vendor Invoice Management (VIM) is a must. Hybrid (must be onsite 2 days per week).

Pay rate: $30-40/hr

**Hybrid | Cambridge, MA**

Responsibilities:

• Invoice Management and Processing
  • Receiving and Verifying Invoices: AP professionals are responsible for receiving vendor invoices, verifying their accuracy, ensuring proper authorization, and matching them against purchase orders and receiving reports (commonly known as three-way matching). This process helps prevent errors, duplicate payments, and supports precise financial records.
  • Data Entry: Entering validated invoice details into the accounting system, allocating expenses to the correct accounts, and ensuring all transactions are properly recorded.
• Payment Execution
  • Scheduling and Processing Payments: Preparing and executing payments to vendors using various methods (checks, ACH transfers, wire transfers), while adhering to agreed-upon terms to avoid late fees and take advantage of early payment discounts.
  • Remittance and Record Closure: Sending remittance details to vendors and closing out invoices in the system once paid.
• Vendor Relationship Management
  • Communication and Issue Resolution: Responding to vendor inquiries, resolving discrepancies, and maintaining positive relationships to ensure smooth business operations.
  • Vendor Setup and Maintenance: Ensuring accurate vendor records, including banking information and tax documents, and setting up new vendors in the accounting system.
• Expense Report Processing
  • Review and Validation: Reviewing employee expense reports for accuracy and compliance with company policies, verifying receipts and supporting documentation, and processing reimbursements.
• Account Reconciliation and Financial Oversight
  • Reconciling Accounts: Comparing vendor statements with internal records, identifying and resolving discrepancies, and reconciling general ledger accounts related to payables to ensure financial accuracy.
  • Month-End Close Support: Assisting with the month-end close process by reconciling outstanding payments and accruals, ensuring all financial records are up to date.

Experience Requirements:

• Experience with AP systems (must have experience with SAP VIM)
• Strong communication and consultative skills
• Attention to detail and accuracy
• Ability to work both independently and collaboratively
• Understanding of financial controls and compliance requirements
• Must be in the office in Cambridge, MA two days a week (Monday/Tuesday); the rest of the week can be remote.