Senior Accounts Payable Lead

1 day ago

Mumbai, Maharashtra, India beBeeAccountant Full time ₹ 1,20,00,000 - ₹ 1,50,00,000
Accounts Payable Manager Job Description

This is a leadership role responsible for managing the accounts payable function within a global business shared services team.

  • Lead and manage a team of accounts payable professionals to ensure timely and accurate payment processing.
  • Develop and implement process improvements to increase efficiency and effectiveness in accounts payable operations.
  • Collaborate with cross-functional teams, including treasury, procurement, and internal audit, to ensure alignment and compliance with company policies and regulations.
  • Manage vendor relationships and negotiate terms and conditions to optimize payment processes.
  • Ensure accurate and timely reporting of accounts payable metrics to stakeholders.
Key Responsibilities:
  1. Functional responsibilities:
  • Continuously assess opportunities to improve the efficiency and effectiveness of the accounts payable department and the level of services provided to internal and external clients (vendors).
  • Participate as a lead in the development of action plans related to crucial metrics.
  • Maintain team's work engagement by providing on-site guidance and timely identification and remediation of training gaps.
  • With the help of team reporting to the position, take ownership in managing below activities.
MIS and Reporting:
  • Ensure monthly MIS as prescribed by corporate finance.
  • Timely review of key balance sheet and P&L accounts to ensure that the balances stated are accurate, justified, and under control.
  • Quarterly MIS like P&L schedules and variance, Balance sheet schedules and variance including creditors review, advance review, provisions review, GR/IR review with aim to understand the underlying reasons of variations, define actions to be taken for control and implement the action items.
  • Provide various reports for monthly, bimonthly, and quarterly governance calls.
  • Ensure right provisioning/accruals, tracking of provision knock-offs and provision reversal.
Vendor Payments Management:
  • Ensure a clean book in terms of open creditors with line-wise explanation of open creditor.
  • Generate payment forecast and work with treasury team/site finance for fund management.
  • Ensure team performs scheduled and ad-hoc payment runs for all Indian and international sites on a timely basis.
  • Work with banks on any trouble shooting in terms of DAN, LC, Import payments etc.
  • Check cases of duplicate payment, advance knock-off misses etc., debit balance cases at the time of payment.
  • Oversee the payment team's communications and interactions with business units/sites to ensure effective and appropriate communication occurs as required.
  • Ensure that systems and procedures are in compliance with company policies and applicable regulations.
Tax Management:
  • Ensure team is trained in tax accounting related to AP (direct and indirect taxes).
  • Review accuracy of the GST accounting and TDS deducted by Invoice processing team.
  • Ensure timely TDS payments and TDS returns filing.
  • Right and timely submission related to tax audits.
  • Guide team on 15CA,15CB, W9 for the international vendors.
  • Provide right answers to tax team/auditors queries.
  • Consult on withholding tax while setting up the vendor.
  • Provide complete details to tax auditors and ensure tax audits are closed on time without any observation.
  • Monitor and review the demand notices raised by tax department, provide necessary explanation/corrections to ensure timely closure of tax demand notices.
  • Provide timely information to tax officers in case of any query. Ensure that information is readily available.

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