Accounts Payable Analyst Jobs in the United States

Accounts Payable Analyst Jobs Overview

Analysts specializing in accounts payable services examine and analyze payment data and processes to guarantee efficacy and conformity with monetary rules and laws. In this role, you may also suggest improvements when implementing new enterprise resource planning (ERP) systems or financial management software. Accounts payable analyst jobs exist in practically every industry, with the accounting, tax preparation, and payroll sectors employing the majority of analysts.

Your responsibilities as an accounts payable analyst will likely remain the same across all industries:

• analyze transactions
• respond to internal inquiries regarding financial information
• reconcile accounts
• process payments
• coordinate with vendors
• monitor expenses
• develop policies
• troubleshoot enterprise resource planning software
• investigate discrepancies

Most accounts payable analysts work full-time in an office setting. The minimum education requirement for this job is a bachelor's degree in accounting or a related field. The Bureau of Labor Statistics predicts a faster-than-average 8% growth rate for financial analysts over the next several years.

Salary for Accounts Payable Analyst Jobs

Most accounts payable analyst jobs pay anywhere from $46,434 to $105,295 a year. The median pay for this job is $72,872 a year.

Three of the cities with the highest demand for accounts payable analysts are New York, NY; Houston, TX; and Charlotte, NC. To see how much you can make with your analyst skill set, use Monster's salary calculator.

How to Find the Best Accounts Payable Analyst Job for You

Finding a job that suits your preferences and career goals is important to your success and happiness. When exploring job postings, take stock of your passions and strengths and how they align with the job descriptions.

Ensure your credentials match any educational requirements and identify any training the job provides. Keep an eye out for anything that deviates from the typical accounts payable analyst job description, such as an unexpected workload, unusual reporting structures, or extra tasks.

Think about how the job fits into your schedule. Try to find a position that lets you choose your own hours, whether it's remote work or not, and also gives you chances to advance in your career. Some jobs include development training that you can use to expand your professional career as an analyst.

Equally important is taking time to learn about the company's culture. Look for places of employment that care about their workers and provide them with resources to help them strike a good work-life balance. You can tell whether you'll be content in your job based on how much you connect with the company's goals and principles.

Application Advice for Accounts Payable Analyst Jobs

Customize your application to match the accounts payable analyst job description. Highlight your expertise in accounting theory, problem-solving exercises, and analytics. Showcase your industry knowledge with terminology like ERP systems, financial reports, and accruals.

Prepare the Application

There are several unique requirements that you might have to follow when applying for accounts payable analyst jobs, including:

• specifying your proficiency in accounting software
• providing certification as a Certified Accounts Payable Professional (CAPP)
• attaching college transcripts
• showcasing your analytical abilities

Write a Strong Resume

The best resume format to use depends on how much prior experience you have as an accounts payable analyst. If you have several years of experience, use a chronological format. Try the functional resume format — which highlights skills over experience — if you're new to the financial industry.

Always provide a separate page for references with contact information when applying for positions that ask you to submit work samples and references. Submit a portfolio of your best work that showcases your ability to accurately handle invoices, solve problems, or compile financial reports.

Make sure your resume emphasizes your accounting software skills, invoice processing expertise, meticulousness, and any applicable qualifications or training. Resumes that quantify accomplishments and leverage job description qualifications stand out to hiring managers.

Using relevant resume keywords also helps your application pass criteria set forth by applicant tracking systems that hiring managers use. Some of the best resume keywords to use for accounts payable analyst jobs are:

• financial analysis
• financial reporting
• financial accounting
• auditing
• bank reconciliation
• invoicing
• Microsoft Access
• invoice processing
• SAP products
• SAP ERP
• payments

Crafting a resume that gets you noticed for accounts payable analyst jobs doesn't have to be difficult. Check out this accountant resume sample for ideas. For more help, use the Monster Professional Resume Writing Service to get a resume that's optimized with relevant keywords and information.

Attach an Impressive Cover Letter

Most positions for accounts payable analysts demand a cover letter. This gives you another opportunity to elaborate on your reasons for applying, your relevant experience, and why you're the best fit for the position.

A good financial analyst cover letter should start with a brief overview of who you are, your skills, and why you're interested in the job. Then, include specific examples of your work in accounts payable. To close the letter, provide your contact information to ensure the hiring manager can reach out to request an interview.

Skills to discuss in a cover letter:

• handling vendor invoices
• processing purchase orders
• filling out expense reports
• completing journal entries
• reconciling accounts
• data entry
• analysis

Submit the Application

Monster is a great place to look for accounts payable analyst jobs. Our intuitive design makes finding jobs, narrowing your search, and following up on applications a breeze. All it takes to sign up for free is an email address. We’ll send career advice and the latest job openings straight to your inbox so you’ll never miss an exciting job opportunity.

How to Follow Up With the Employer

Reach out to the employer with a follow-up message if you haven't heard anything within two weeks of submitting your application. Because hiring managers must review many applications for accounts payable analyst jobs, you may not hear anything immediately.

Email is usually the best way to send your follow-up message. To find the hiring manager's email address, check the job description or try contacting the employer's HR department. In your follow-up message, briefly state who you are, when you submitted your application, why you're qualified, and your contact information.

Interview Advice for Accounts Payable Analyst Jobs

Accounts payable analysts typically go through one to two rounds of interviews. The first interview usually assesses your skills and how well-suited you are for the position. Second-round interviews usually take place with upper management to further test your skill set and ensure a good cultural fit.

Before the Interview

It's a good idea to inquire about the interview format in advance. Accounts payable analyst competency interviews test you on important job-related abilities like accounting knowledge, detail orientation, and software competence. In contrast, behavioral interviews explore your actions and experiences, asking about your problem-solving skills, stakeholder communication abilities, and ability to manage duties related to accounts payable.

During the Interview

The interviewer will pay close attention to how advanced you are in financial analysis. Here are some effective ways to demonstrate your analytical and financial skills:

• Share specific examples of your ability to identify discrepancies in data.
• Discuss problem-solving scenarios.
• Quantify achievements that showcase your financial expertise.
• Walk the interviewer through a financial analysis.
• Discuss your technical skills in ERP systems, Excel, and specialized accounting software.
• Explain how you make decisions using financial and data analysis.

You can use the STAR method to help you answer interview questions with confidence. Here are questions to expect during the interview:

• What is your preferred process for analyzing payment data?
• How do you find ways to make accounts payable operations more efficient?
• When analyzing financial records and payment information, how can you make sure everything is accurate and organized correctly?
• What types of ERP systems are you familiar with?
• In the event that a vendor underbills you, what steps should you take?

After the Interview

Always send a thank-you note the day following an interview. Give thanks for the interview and reiterate your interest in the job.

If you don't receive a follow-up interview request or get a job offer within a week, contact the hiring manager and ask for an update. Be professional in all of your communications even if you don't get the job. A position that the hiring manager thinks you'd be a good fit for might open in the future.

Responding to Job Offers

Receiving a job offer for an accounts payable analyst role might be a great way to start or expand your career in accounting. However, it's important to carefully consider the unique aspects of each offer to ensure it's a good fit. Some of the most important aspects to think about are:

• salary and benefits
• flexibility in work hours
• expected workload
• overtime requirements
• training and support
• work environment
• technology and tools
• employer's stability, values, and reputation
• location and commute

Career Paths for Accounts Payable Analysts

A lot of accounts payable analysts advance into supervisory and managerial roles. Jobs in this field often entail managing a team of analysts, improving the accuracy and efficiency of payment processes, and implementing process changes.

As your career develops, you might have the option to move toward specialized positions within the financial industry, such as that of a senior financial analyst. These roles encompass reviewing financial data, writing reports, and offering insights to support the company's strategic decision-making.

Other common career paths for accounts payable analysts include:

• senior tax manager: Supervise tax preparation and payment, handle tax investigations and audits, and advise upper management on tax strategy.
• financial controller: Manage the company's financial reporting, budgeting, and forecasting processes; establish and maintain internal controls; and advise senior management on financial strategy to aid in decision-making and compliance with regulations.
• financial planner: Give investment advice, assess clients' financial conditions, create individualized financial plans, and guide clients to reach their financial objectives via tactics including tax preparation, risk management, and retirement planning.
• treasury manager: Control the organization's banking ties, optimize financing plans, and maintain compliance with financial rules to support its stability and development in terms of cash flow, liquidity, and financial risk.

Related Professions

Accounts payable analysis is a career field that includes several similar professions.

• cost estimator
• accounts payable specialist
• accounting analyst
• accounting administrator