Accounts Executive

**Job description**

**Position**: Accounts Executive
**Location**: Bangalore (Marathahalli) (WFO)
**Employment Type**: Full-Time
**Company Name**: The White Teak Company (By Asian Paints)

**Department**: Finance/Accounts
**Reports to**: Accounts & Finance Manager

**Key Responsibilities**:

- **Bank Payment Processing**:

- Manage and process all company-related bank payments, including vendor payments, employee reimbursements, utility payments, and statutory dues.
- Custom duty payment
- Ensure accurate and timely processing of payments through online banking portals (RTGS, NEFT, IMPS) and cheque payments.
- Maintain payment schedules and ensure timely disbursements to avoid penalties or delays.
- **Bank Reconciliation**:

- Perform daily and monthly bank reconciliation for multiple bank accounts, identifying and resolving discrepancies between bank statements and the company's financial records.
- Investigate and resolve unposted or rejected payments, duplicate payments, or errors in bank entries.
- **Cash Flow Management**:

- Assist in monitoring the organizations cash flow to ensure adequate liquidity for upcoming payments.
- Maintain accurate records of cash inflows and outflows, and work with management to forecast payment obligations and ensure proper fund allocation.
- **Vendor and Stakeholder Coordination**:

- Liaise with vendors and internal departments to ensure payment requests are accurate, supported with proper documentation, and within agreed payment terms.
- Coordinate with banks for any payment-related issues, transaction discrepancies, or inquiries about the company’s accounts.
- **Transaction Recording & Documentation**:

- Ensure that all payments are recorded accurately in the accounting software (Tally) with proper supporting documentation.
- Maintain up-to-date records of all transactions, including electronic payment confirmations, bank statements, and payment receipts.
- **Compliance & Reporting**:

- Ensure compliance with internal control procedures and external regulations related to bank payments and financial reporting.
- Prepare reports on cash flow, outstanding payments, and other financial metrics for internal review and audits.
- Assist in audit preparation and responded to auditor queries related to bank payments.
- **Fraud Prevention & Risk Management**:

- Monitor bank accounts regularly for any unauthorized or suspicious transactions.
- Implement and maintain strict internal controls to prevent fraud and unauthorized transactions.
- Work closely with management to identify and mitigate risks related to payment processing.
- **Bank Liaison & Relationship Management**:

- Build and maintain relationships with banking partners for better terms, support, and resolution of payment-related issues.

**Qualifications**:

- Bachelor’s degree in Accounting, Finance, or related field.
- Familiarity with banking regulations and transaction processing in the context of corporate payments.

**Skills & Competencies**:

- Strong understanding of bank payment processes (RTGS, NEFT, IMPS, cheques) and reconciliation.
- High attention to detail and accuracy in recording and processing financial transactions.
- Excellent organizational skills with the ability to manage multiple payment deadlines.
- Strong communication skills for coordinating with banks, vendors, and internal teams.
- Proficiency in MS Excel and accounting software (Tally).

**Experience**:

- 2-8 years of experience in managing bank-related payments and reconciliation.

Pay: ₹25,000.00 - ₹40,000.00 per month

**Benefits**:

- Life insurance
- Provident Fund

Schedule:

- Day shift

**Education**:

- Bachelor's (preferred)

Work Location: In person

Expected Start Date: 29/11/2024