Accounts Payable Specialist

Role

Direct Reporting

Functional Reporting: Finance

Function

Job Purpose & Scope:

Facilitate timely and accurate records regarding payments to suppliers, processing payments as per the agreed terms and policies.

Accountability Result Indicator

• Accounting & reporting accuracy
• Adherence to compliance

Accounting Payables Responsibilities:

• Managing Accounts payable operations, supervisory responsibilities, scanning, invoice processing of PO and Non-PO Invoices, credit memos, Payments, Month end Accruals, Invoice Exception resolution, vendor and GRIR to make NIL on monthly closing & reconciliation as per requirement.
• Ensure that all bills are Properly Checked for accuracy and Delegation of authority before being accounted
• Booking PO related Bills in MIRO (SAP) and knocking off Advances while booking advance related bills.
• Booking Direct and Miscellaneous expenses such as Sales Promotional, AMCs, Consultancy Services, Final Settlements etc.
• Ensure that TDS and GST is properly deducted (as per applicability) and accounted in books of accounts
• Ensure that bills are booked under correct Cost Ledger & relevant Cost Centre
• Ensure all accounting policies and procedures are adhered to.
• Forecasting funding request in coordination with the Treasury team.
• Raising Debit and Credit notes for any discrepancy in invoices after approval of concern department.
• Ensure that Payment to Vendor is done as per agreed credit terms and conditions
• Periodic review of the Supplier Balance and ensure that same are Reconciled accurately
• Making adequate Provision on monthly basis for expenses incurred but bills not received
• Inter-company Reconciliation to ensure book all the DN and CN in SAP
• Ensure creditors clean up, review AP aging and getting balance confirmations from vendors
• Identification of all accruals & prepaid transactions and ensure that relevant entries are made before month end closing.
• Allocation of expenditures to cost centres & generation of cost centre reports. ( Ksb1 report)
• Coordinate with various departments for quick turnaround of queried invoices
• Escalation of issues to the line Manager if things are not sorted out within Stipulated Timeline
• Scrutinizing the existing AP processes to look for opportunity of automation & initiating the automation
• Liaison & Co-ordination with Internal & External Auditors providing reports & schedules like Related Party Disclosure, Expenses in Foreign Currency, Lease Rental Schedule etc.
• Preparation of various monthly reports as per management requirement

Qualifications, Experience & Skills

Education:

• B com /M Com

Experience:

• 5+ years of experience
• SAP experience

Skills & Competencies:

• In depth understanding of accounting concepts