Accounts Payable Manager

KEY RESPONSIBILITIES

1. ACCOUNTS PAYABLE OPERATIONS MANAGEMENT

• Manage the complete accounts payable cycle from invoice receipt to payment disbursement
• Oversee processing of 2000+ construction-related invoices monthly including material suppliers, subcontractors, and service providers
• Ensure accurate job costing by verifying proper allocation of expenses to respective projects and cost centers
• Review and approve payment runs (weekly/bi-weekly) ensuring adherence to payment terms and cash flow requirements
• Manage vendor master data, ensuring accurate vendor setup with proper GST registration verification and Form 16 documentation
• Reconcile vendor statements monthly and resolve discrepancies promptly
• Prepare and review aged payables reports and manage outstanding payment schedules

1. CONSTRUCTION-SPECIFIC PAYABLES

• Process and manage subcontractor payments with proper verification of work completion certificates
• Handle retention money accounting for subcontractors (typically 5-10% of contract value) and ensure timely release post ­completion
• Process Running Account (RA) bills for works contractors ensuring GST compliance
• Coordinate with project managers for payment approvals based on work progress and completion certificates
• Manage advance payments to suppliers/contractors and track adjustment against invoices
• Handle material procurement payments with proper verification against purchase orders and goods receipt notes

1. GST COMPLIANCE & TAX MANAGEMENT

• Ensure 100% GST compliance for all construction services and material procurement
• Verify GST invoices for correctness of GSTIN, HSN/SAC codes, and applicable tax rates
• Manage input tax credit (ITC) reconciliation and maintain proper documentation for claims
• Coordinate GST filings (GSTR-2A/2B reconciliation) with tax team
• Handle TDS deductions on contractor/professional payments and coordinate TDS return filing
• Maintain vendor compliance documents including GST certificates, PAN, and other statutory registrations
• Ensure proper accounting of retention money under GST regulations

1. TEAM LEADERSHIP & SUPERVISION

• Lead, mentor, and supervise the AP team (2-4 members including AP Assistants)
• Assign work, monitor workload distribution, and ensure high productivity levels
• Conduct performance reviews and provide ongoing training and development
• Implement cross-training initiatives for business continuity
• Foster a collaborative and high-performance team culture

1. PROCESS IMPROVEMENT & CONTROLS

• Develop and implement AP policies, procedures, and internal controls
• Identify opportunities for process automation and efficiency improvements
• Establish and monitor KPIs including invoice processing time, error rates, and payment cycle time
• Ensure strong internal controls to prevent duplicate payments, fraud, and errors
• Drive vendor payment automation and electronic payment initiatives

1. FINANCIAL REPORTING & MONTH-END CLOSE

• Lead AP activities during month-end and year-end closing processes
• Prepare monthly AP aging reports, cash flow forecasts, and payment projections
• Record accruals for work completed but not yet invoiced
• Coordinate with project accounting team for proper revenue and cost matching
• Support external and internal audits by providing documentation and explanations

1. VENDOR & STAKEHOLDER MANAGEMENT

• Build and maintain strong relationships with key vendors, subcontractors, and suppliers
• Resolve escalated vendor disputes, payment issues, and invoice discrepancies professionally
• Negotiate payment terms and assist procurement with vendor selection when needed
• Serve as primary point of contact for vendor payment inquiries
• Collaborate with procurement, project management, and finance teams

1. BANK GUARANTEE & SECURITY MANAGEMENT

• Track bank guarantees issued to clients and received from subcontractors
• Monitor expiry dates and coordinate renewals/releases
• Maintain register of security deposits, margin money, and fixed deposit linkages

QUALIFICATIONS & REQUIREMENTS

Educational Qualifications

• Bachelor's degree in Commerce (B.Com) - Mandatory
• MBA (Finance) or M.Com – Preferred
• Professional qualification (CA Inter/ICWA/CMA) - Highly Preferred Experience Requirements
• Minimum 5-8 years of progressive experience in accounts payable function
• Mandatory: At least 3-5 years of experience in construction industry accounts payable
• Proven experience managing AP teams (2-5 members)
• Strong understanding of construction accounting including job costing, retention, and RA bills
• Experience with subcontractor payment management and vendor coordination

Technical Skills

• Mandatory: Expert knowledge of GST compliance for construction services (including 1%, 5%, 18% rates)
• Strong understanding of TDS provisions (Section 194C for contractors, 194J for professionals)
• Proficiency in ERP systems - SAP experience highly preferred
• Advanced Microsoft Excel skills (Pivot tables, VLOOKUP, macros)
• Knowledge of construction-specific terms: RA Bills, retention money, mobilization advances, running bills
• Familiarity with percentage-of-completion accounting methods

Soft Skills & Competencies

• Strong leadership and team management abilities
• Excellent analytical and problem-solving skills
• High attention to detail and accuracy
• Ability to work under pressure and meet tight deadlines
• Strong communication and interpersonal skills
• Vendor negotiation and relationship management skills
• Process improvement mindset