Accounts Payable Manager

Accounts payable managers handle all the bills and invoices that a company must pay. As such, they must have very strong math and accounting skills. A small mistake can end up costing the company thousands of dollars, so great attention to detail is also essential. In addition, accounts payable managers must be organized and must have excellent computer skills particularly with Excel and other accounting software.

Accounts payable managers will often oversee a team of accountants to ensure that they are following protocol. They also will often interview, hire and train their team members, and will provide assistance and help troubleshoot when problems arise. Accounts payable managers may also work with a company's clients more, so good interpersonal skills are usually also a prerequisite for this type of position. In addition, they usually report to (and provide reports for) a company's executives.

Since accounts payable managers play a large role in following the day-to-day movement of the company’s money, they must be trustworthy, capable and experienced. A bachelor's degree in accounting is usually the minimum educational requirement in addition to a good amount of work experience. Lastly, accounts payable managers must handle stress well and not be afraid to act as a leader or take responsibility for important matters.

As an Accounts Payable Manager in the United Arab Emirates with 6-9 years of experience, your main responsibilities include:

• Oversee the accounts payable process, ensuring timely and accurate processing of invoices, expense reports, and payments. Manage the end-to-end accounts payable process, ensuring all invoices and expenses are processed efficiently and payments are made on time.
• Supervise and train the accounts payable team, providing guidance and support in day-to-day operations. Lead and mentor the accounts payable team, ensuring they have the necessary skills and knowledge to perform their duties effectively.
• Establish and maintain vendor relationships, negotiating terms and resolving any issues or discrepancies. Build and maintain positive relationships with vendors, negotiating favorable terms and resolving any disputes or discrepancies that may arise.
• Implement and enforce accounts payable policies and procedures to ensure compliance with company and regulatory requirements.

The role of an Accounts Payable Manager is crucial for efficient operations and cash flow management. With 6-9 years of experience in Asia's finance industry, professionals have several alternative roles to consider. Here are four options:

• Senior Accountant: This role encompasses broader responsibilities such as financial reporting and regulatory compliance.
• Treasury Manager: Focuses on managing cash and liquidity requirements, including forecasting, risk management, and investment activities.
• Procurement Manager: Involves managing supplier relationships, negotiating contracts, and overseeing purchasing processes.
• Financial Analyst: Concentrates on monitoring financial performance, developing forecasts, and providing insights for strategic decision-making.

The role of Accounts Payable Manager in the United Arab Emirates is projected to witness significant growth in the market. According to recent data from Google, there has been a consistent increase in the demand for skilled professionals in this role over the past 10 years. The job market analysis suggests a positive trend, indicating potential employment opportunities in the future.