Thinking of expanding your accounting team? On the hunt for a new career in the accounts payable space? Below, we break down the average salary expectations from PayScale for different AP roles and compare them between the United States and Canada.
1) Accounts Payable Clerk
Generally a position seen at accounting firms or within commercial accounting departments, Accounts Payable Clerks are encouraged to develop process improvements to help complete their work more efficiently. Tasks for this position may include:
- – Recording, coding, and processing all invoices for payment
– Account reconciliation by cross-checking entries and comparing to balances in a timely manner
– Amending purchase orders and ordering stop-payments as necessary
Accounts Payable Clerk Salary – US
The average salary for Accounts Payable Clerks in the US is between $24,248 and $41,955 in USD per year.
Accounts Payable Clerk Salary – Canada
The average salary for Accounts Payable Clerks in the US is between $28,862 and $46,332 in CAD per year.
2) Accounts Payable Specialist
This role requires a sound understanding of how to file invoices, payments, and tax information for company vendors. Accounts Payable Specialists are capable of taking care of the AP process from purchase order to payment, including proper recording of each step for easy referencing in the future. Responsibilities for this type of role include:
– Fielding vendor and employee inquiries
– Solving any AP discrepancies (missing purchase orders, invoices, etc)
– Completing payments in a timely manner and recording them using company’s preferred payment tracking methods
– Reconciling financial statements and forecasts
Accounts Payable Specialist Salary – US
The average salary for Accounts Payable Specialists in the US is between $29,297 and $50,011 in USD per year.
Accounts Payable Specialist Salary – Canada
The average salary for Accounts Payable Specialists in the Canada is between $33,327 and $51,382 in USD per year.
3) Accounts Payable Manager
A position that would normally be found at a larger enterprise with a dedicated accounts receivable department. When moving into an AP Manager role, we see a jump in responsibility that corresponds with a similar increase in compensation. Tasks for managerial positions would be:
- – Overseeing day-to-day activities of the AP team and ensuring internal processes are followed
- – Managing financial data and ensuring that all vendors are paid correctly
- – Enforce GAAP (Generally Accepted Accounting Principles) and industry standards to uphold proper accounts payable completion
Accounts Payable Manager Salary – US
The average salary for Accounts Payable Managers in the US is between $33,594 and $77,705 in USD per year.
Accounts Payable Manager Salary – Canada
The average salary for Accounts Payable Managers in the Canada is between $38,243 and $77,280 in USD per year.
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