Executive – Accounts Payable
4 days ago
Role Overview:
The Accounts Payable Executive is responsible for managing the company's outgoing payments to vendors, suppliers, and other creditors. The role ensures that all financial obligations are settled on time and that accounts payable records are accurately maintained. The Accounts Payable Executive will work closely with internal teams (finance, procurement, and operations) as well as external vendors to ensure smooth transactions.
Key Responsibilities:
Invoice Processing:
Receive, review, and verify invoices and payment requests from vendors and suppliers.
- Ensure that all invoices are correctly matched with purchase orders, receipts, and contracts.
- Process invoices in the books of accounts and ensure that all data entered is accurate and up to date.
Resolve any discrepancies in invoice details by coordinating with vendors or internal departments.
Payment Processing:
Prepare and process payment runs.
- Ensure payments are made according to company policy and in a timely manner to avoid late fees or interest charges.
- Coordinate with banks for fund transfers and ensure all payments are processed smoothly.
Handle urgent payment requests and resolve any related issues promptly.
Vendor & Supplier Communication:
Respond to vendor inquiries regarding payment status, account balances, or issues.
- Maintain positive relationships with vendors and suppliers to facilitate smooth payment processes.
Ensure proper documentation and record-keeping for all communication with vendors.
Reconciliation & Reporting:
Reconcile accounts payable to general ledger accounts monthly, ensuring that all transactions are recorded correctly.
- Assist in the preparation of monthly AP aging reports, identifying overdue payments and highlighting discrepancies.
- Prepare and maintain a record of all payments and ensure that necessary approvals are obtained.
Support month-end closing activities by providing relevant accounts payable reports and updates.
Tax & Compliance:
Ensure compliance with GST and TDS.
Assist in the preparation of year-end reports and reconciliations for statutory audit.
Expense Management:
Monitor employee expense reports, ensuring that they comply with company policy before processing payments.
Coordinate with department heads to ensure proper approval for non-purchase order related expenses.
Internal Controls & Process Improvement:
Adhere to internal controls and financial policies related to accounts payable functions.
- Identify and recommend process improvements to enhance efficiency and accuracy within the AP function.
- Ensure that appropriate documentation and approval workflows are followed for all payments.
Requirements
*Skills & Qualifications:*
Education:
A bachelor's degree in finance or accounting.
Experience:
Minimum 2-3 years of experience in an Accounts Payable or related finance role.
Familiarity with accounting principles and basic financial processes.
Skills:
Strong attention to detail and organizational skills.
- Proficiency in Microsoft Office, particularly Excel (pivot tables, formulas, VLOOKUP).
- Strong written and verbal communication skills.
- Ability to multitask and manage competing priorities.
- Time management skills to meet deadlines and ensure timely payments.
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