Accounts Payable (AP) Specialist

The Accounts Payable (AP) Specialist is responsible for managing vendor and subcontractor payments, processing invoices, and ensuring financial accuracy within the construction industry. This role ensures all company expenses are accounted for, payments are processed on time, and financial records align with project budgets. The AP Specialist is experienced in construction-related invoicing, purchase orders, and contract compliance and plays a key role in overseeing pay applications, job contracts, and change orders to ensure accuracy and compliance.

Key Responsibilities:

1. Invoice & Payment Processing:

• Invoice Verification: Verify and process vendor invoices, purchase orders, and subcontractor payment applications, ensuring accuracy and adherence to contract terms.
• Payment Scheduling: Ensure payment schedules align with project milestones and contract terms, taking advantage of any available discounts.
• Expense Tracking: Maintain detailed records of expenses, ensuring proper documentation and approval for all payments.
• Pay Application Oversight: Review and process pay applications to confirm that project billing aligns with completed work and contractual obligations.

2. Contract & Change Order Management:

• Contract Oversight: Ensure that job contracts and subcontractor agreements are accurately documented and comply with project requirements and company standards.
• Change Order Processing: Monitor and track all change orders, verifying accuracy and ensuring approvals are documented before payment.

3. Compliance & Vendor Management:

• Documentation Verification: Verify insurance compliance, W-9 forms, and subcontractor agreements before processing payments.
• Regulatory Adherence: Ensure adherence to state and federal tax regulations regarding subcontractor payments.
• Account Reconciliation: Manage accounts payable aging reports and perform regular reconciliations to maintain accurate financial records.

4. Financial Oversight & Expense Control:

• Expense Monitoring: Monitor recurring expenses, equipment rentals, and material purchases to ensure they are within budget and properly documented.
• Job Cost Tracking: Assist in job cost tracking and variance analysis to support financial planning and ensure accurate cost allocation.

5. Vendor Relations:

• Communication: Serve as the primary point of contact for vendors regarding payment inquiries, resolving any issues promptly.
• Relationship Management: Maintain positive relationships with vendors and subcontractors to ensure continued collaboration and favorable terms.

6. Process Improvement:

• Efficiency Enhancement: Identify opportunities to streamline accounts payable processes and implement best practices.
• System Utilization: Leverage accounting software and tools to enhance accuracy and efficiency.

Qualifications:

Experience:

• Minimum of 3 years of experience in accounts payable, preferably within the construction industry.
• Familiarity with construction-related invoicing, purchase orders, contract compliance, and change order management.

Skills:

• Proficiency in accounting software and Microsoft Office Suite, particularly Excel.
• Strong attention to detail and accuracy in financial record-keeping.
• Excellent communication and interpersonal skills for effective vendor interactions.
• Ability to manage multiple tasks and prioritize effectively in a fast-paced environment.

Attributes:

• Strong analytical and problem-solving abilities.
• High level of integrity and professionalism in handling sensitive financial information.
• Proactive approach to identifying and addressing potential issues.