What Accounts Payable Salary Should You Offer

What Accounts Payable Salary Should You OfferWhat Accounts Payable Salary Should You OfferTo recruit and retain top talent in your accounting operations, organizations have to keep in mind that whether its an accounts payable salary or accounts receivable salary, it has to be competitive. Why? Both demand and salaries are going up.First of all, skilled financial professionals are always in demand. As long as corporations exist, theyll need operational support staff, whether they bring in $25 million in revenues or $250 million or more.Secondly, creating the right accounts payable salary and accounts receivable salary is often easier said than done. First, you need to understand the skills and experience required. Then, you must benchmark the compensation package offered against the norm for the industry, company size and location.You also have to take into account the value of the organizations unique compensation elements, especially the intangible benefits, such as professional dev elopment opportunities or generous leave policies included in the package.So lets take a look at how the compensation variables stack up in the area of operational support. Then well take a look at the expectations and requirements for people working in accounts receivable and accounts payable jobs.Salaries for AR/AP positionsInitial salary benchmarking for accounts receivable jobs and accounts payable jobs is easy if you have the right data, which is available in the 2019 Robert Half Salary Guide for Accounting and Finance Professionals.The salary midpoint for an accounts receivable clerk or accounts payable clerk is $35,250, according to the Salary Guide. For an AR/AP manager, the salary midpoint level is projected to be $61,750 in 2019.The salaries listed in the Salary Guide reflect starting pay only and are based on actual placements throughout the United States, as well as an analysis of the demand for the role, the supply of talent and other market conditions. They dont includ e additional compensation elements such as time off, bonuses or health insurance, and they can be calculated by city or region in the United States. Duties and expectationsEvery organization has its own expectations that depend on company culture and human resources policies, in addition to the basic requirements of the role.That said, the essential task of an accounts receivable clerk is to process outbound invoices and incoming payments. For an accounts payable clerk, its to verify and pay incoming invoices. Other primary duties for either role may includeMaintaining accounting ledgersReconciling accounts and resolving discrepanciesAnalyzing and reporting on account information and trendsMaintaining operational and financial security by following best practicesAn accounts receivable or accounts payable manager has many additional responsibilitiesSelecting, training, beratung and managing AR/AP clerksPla nning projects and monitoring performanceContributing to and implementing operational improvement initiativesMeeting or exceeding financial standardsInvestigating non-payment and negotiating resolutionAuditing delinquent accounts and assigning bad debt status if necessaryPresenting financial reports and forecastsProfessional experience and skillsThough many entry-level accounting clerk jobs require little or no experience and can be filled by staff with no higher qualification than a high school diploma, employers generally look for some professional experience for their accounting operations. AR and AP clerks must have strong organizational, customer service and communication skills, along with proficiency in common office and accounting software applications.AR and AP managers may need five years or more of experience as clerks before progressing to managerial roles. A graduate degree or professional accounting certification should add to the salary. Managers should be able to dem onstrate all the skills of a clerk, plus the additional soft skills needed to motivate a team.Interview accounts payable clerk candidatesIf youre looking for an accounts payable clerk, we can help make the process easier. You can see profiles of skilled accounts payable candidates in your area using our online database. Tell us who catches your eye, and we can arrange an interview or placement ASAP.Find accounts payable candidates in Birmingham, Ala.Find accounts payable candidates in Orlando, Fla.Find accounts payable candidates in Baltimore, Md.Find accounts payable candidates in Cincinnati, Ohio.Find accounts payable candidates in Providence, R.I.