INSIGHT CONSTRUCTION

Construction Accounts Payable Specialist

Albuquerque, NM

About This Job

Overview:

A Construction Accounts Payable Specialist is responsible for managing the payment process for goods and services purchased by a construction company. They ensure that invoices are processed accurately and timely, and that payments are made in accordance with contractual agreements and company policies. This role requires strong attention to detail, organizational skills, and knowledge of accounting principles specific to the construction industry.

Key Responsibilities:

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Invoice Processing:

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Receive, review, and verify invoices from vendors, subcontractors, and suppliers for accuracy, completeness, and compliance with purchase orders and contracts.

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Code invoices with appropriate expense accounts, project codes, and cost centers based on project requirements and accounting standards.

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Enter invoice data into the accounting system accurately and efficiently, ensuring proper documentation and authorization for payment.

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Payment Processing:

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Prepare and process payments, including checks, electronic transfers, and wire transfers, in accordance with payment terms and due dates.

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Reconcile payment requests with vendor contracts, purchase orders, and delivery receipts to ensure accuracy and compliance with contractual obligations.

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Maintain a payment schedule and monitor payment deadlines to avoid late payments and associated penalties.

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Vendor Management:

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Communicate with vendors, subcontractors, and suppliers regarding payment inquiries, discrepancies, and disputes, resolving issues promptly and professionally.

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Establish and maintain positive relationships with vendors to facilitate smooth payment processes and negotiate favorable payment terms and discounts when possible.

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Account Reconciliation:

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Reconcile accounts payable transactions with vendor statements, purchase orders, and receiving reports to ensure accuracy and completeness of financial records.

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Investigate and resolve discrepancies or discrepancies in accounts payable records, working closely with internal teams and vendors to resolve outstanding issues.

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Reporting and Analysis:

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Generate reports and analyses related to accounts payable activities, including aging reports, payment forecasts, and cash flow projections, to support financial decision-making and budget management.

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Provide regular updates to management on accounts payable status, outstanding liabilities, and potential risks or opportunities for improvement.

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Compliance and Documentation:

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Ensure compliance with internal accounting policies, procedures, and controls, as well as external regulations and accounting standards governing accounts payable processes.

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Maintain organized and up-to-date records of accounts payable transactions, invoices, and payment documentation for audit purposes and financial reporting requirements.

Qualifications:

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Proven experience in accounts payable or accounting roles, preferably within the construction industry.

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Proficiency in Sage 100 Contractor accounting software preferred

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Strong analytical skills and attention to detail, with the ability to reconcile accounts, identify discrepancies, and resolve issues effectively.

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Excellent communication and interpersonal skills, with the ability to collaborate with internal teams, vendors, and other stakeholders.

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Knowledge of construction contracts, project costing, and job costing principles is beneficial.

Conclusion:

A Construction Accounts Payable Specialist plays a crucial role in managing the payment process for construction projects, ensuring accuracy, compliance, and timeliness in accounts payable transactions. With their attention to detail, organizational skills, and knowledge of accounting principles, they contribute to the financial health and operational efficiency of construction companies.

Construction Accounts Payable Specialist

About This Job

Overview:

Key Responsibilities:

•Invoice Processing:

•Payment Processing:

•Vendor Management:

•Account Reconciliation:

Qualifications:

Conclusion:

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