Senior Associate - Accounts Payable (Finance)

The primary responsibility of this role is to ensure the accurate accrual of expenses as necessary and the subsequent reversal of those accruals. You will be responsible for ensuring compliance with the purchase policy and financial processes of the school, as well as ensuring compliance with tax withholding regulations and the proper categorization of expenses into operating expenses and capital expenditures. Additionally, you will be tasked with reviewing vendor accounts, reconciling them periodically, clearing vendor accounts, and managing vendor master data. Communication with departments and vendors regarding the status of vendor transactions is also a key aspect of this role. Furthermore, you will be involved in fixed asset accounting, including depreciation, capitalization, and managing capital work in progress. Handling queries from both statutory and internal auditors and ensuring that audits are completed without any observations is a critical part of this role. It is essential to maintain up-to-date asset records when processing asset-related vendor bills and generating asset codes. Verifying asset sale transactions, coordinating with departments, and ensuring timely asset retirement in SAP are also part of the responsibilities. The ideal candidate for this position should hold a B.Com degree, with additional qualifications such as M.Com or MBA in Finance. Proficiency in MS Office and SAP is required. Strong communication skills, a willingness to learn, and being tech-savvy are important behavioral attributes. The desired experience level for this role is between 4 to 7 years. In terms of relationships, internally, you will need to coordinate with various departments for invoice submissions, expense accruals, and addressing their queries to enhance the services provided by the finance department. Externally, you will interact with internal and statutory auditors and vendors as needed. Key responsibilities of this role include ensuring expense accruals and reversals, compliance with financial policies, tax regulations, and accurate expense categorization. Reviewing and reconciling vendor accounts, communicating with departments and vendors about transaction statuses, handling audit queries, and ensuring adherence to school processes and policies are also central to this role. Furthermore, maintaining error-free books of accounts, verifying and capitalizing asset records, and facilitating audits by providing timely and accurate information to auditors are key performance indicators. Compliance with accounting standards, accuracy of records, meeting timelines, and ensuring error-free audits are crucial objectives of this role.,