Manager - Accounts Payable

Key Responsibilities

1. Audit Responsibilities:

- Invoice Management: Assemble, review, and verify invoices and check requests with meticulous attention to detail

- Payment Auditing: Audit all payments, ensuring proof of execution, compliance with contract terms, and invoice accuracy

- Quality Control: Flag and clarify any unusual or questionable invoice items or prices

- Payment Processing: Prepare and process electronic transfers and payments efficiently

- Transaction Recording: Post transactions to journals, ledgers, and other financial records

- Account Reconciliation: Reconcile accounts payable transactions and monitor accounts to ensure payments are up to date

- Vendor Management: Maintain and update vendor records in the system to ensure accuracy and completeness

- Vendor Communication: Correspond with vendors and respond to inquiries professionally and promptly

- Audit Support: Provide supporting documentation for audits and maintain accurate historical records

- Internal Coordination: Handle internal inquiries regarding balance and payment details

- Daily Operations: Conduct payment reviews and process daily payments

- ERP Management: Handle expense and payment entries in Oracle ERP system

- Compliance: Ensure accuracy of daily accounting entries involving GST, RCM, TDS, and other regulatory requirements

- Audit Participation: Actively participate in Annual Statutory, Tax, and Internal audits

- Business Support: Handle business team queries on payments, TDS deductions, and related matters

- Team Collaboration: Support AP team during monthly closures and perform reconciliation work as required

- System Administration: Create suppliers and employees in ERP system as needed

- Documentation: Process accounting service bills and employee reimbursements

2. Accounting Responsibilities:

- Financial Close Management: Manage and execute all accrual and provisioning-related activities during monthly and annual financial close processes

- Account Reconciliation: Perform detailed monthly and quarterly reconciliations of general ledger accounts related to accruals and provisions, ensuring balances are accurate and justified

- Documentation & Analysis: Maintain comprehensive documentation supporting all accrual and provision calculations; analyse financial statements for variances and discrepancies and provide explanations to management

- Financial Reporting: Assist in preparation of monthly, quarterly, and annual financial statements, ensuring accruals and provisions are accurately reflected as liabilities on the balance sheet

- Internal Controls: Design, implement, and monitor internal controls and procedures related to accruals and provisioning to ensure data integrity and compliance with company policy

- Audits & Compliance: Liaise with internal and external auditors during financial reviews; provide supporting documentation and address inquiries to ensure timely completion of audits; stay updated on changes to accounting standards and regulatory requirements concerning accruals and provisions

- Process Improvement: Identify opportunities to streamline and improve accrual and provisioning processes for greater accuracy and efficiency

- Cross-functional Collaboration: Work with other departments such as Accounts Payable, Operations, and Legal to gather necessary information for calculating accruals and provisions

3. Material Purchase Responsibilities:

- Three-way Matching: Conduct thorough comparison of purchase orders, receiving documents, and vendor invoices to identify and resolve discrepancies in quantities, pricing, and terms

- Discrepancy Resolution: Research and resolve all variances including over-billing, under-billing, and incorrect shipments in a timely and professional manner; collaborate with internal departments and external vendors as needed

- System Maintenance: Ensure all transactions are accurately recorded in accounting and ERP software (SAP, Oracle); maintain clean and organized records of all reconciliation activities

- Reporting: Prepare and submit regular reconciliation reports to management, providing insights into trends, issues, and overall vendor performance

- Process Enhancement: Identify opportunities to improve reconciliation procedures and implement more efficient and accurate processes

- Import Compliance: Ensure import-related documentation is accurate; verify that custom duty and other taxes are correctly accounted in system and match with declaration documents

Qualifications:

Education

- CA Inter certification

- Bachelors or masters degree in finance, Accounting, or related field

Experience

- Minimum 7-10 years of experience in a high-volume accounts payable environment

- Proven track record in financial management and accounting operations

- Experience with audit processes and compliance requirements

Technical Skills

- ERP Systems: Excellent knowledge of ERP tools (Oracle experience required; SAP knowledge is an advantage)

- MS Excel: Advanced proficiency in MS Excel is mandatory

- Accounting Standards: Strong understanding of principles of accounting and IND AS

- Tax Knowledge: Good understanding of GST and TDS regulations

- System Integration: Experience with financial system integration and data management

Core Competencies

- Time Management: Ability to manage competing deadlines and function well in a fast-paced, team-oriented environment

- Self-motivation: Self-motivated individual with the ability to contribute both independently and as a team player

- Communication: Strong verbal and written communication skills

- Analytical Skills: Excellent problem-solving and analytical capabilities

- Attention to Detail: Meticulous attention to detail in financial processes and documentation

- Compliance Awareness: Understanding of regulatory requirements and internal controls