Assistant Manager- Accounts payable

1 day ago

Chennai, Tamil Nadu, India Voltas Full time ₹ 9,00,000 - ₹ 12,00,000 per year

Role & responsibilities

1. Invoice Processing and Management

  • Receive and process a vendor invoices, purchase orders (POs), credit notes, and debit notes.
  • Perform 3-way matching of invoices with purchase orders and goods receipt notes to verify the accuracy of quantity, price, and terms.
  • Obtain necessary approvals from relevant departments for both PO-based and non-PO invoices.
  • Verify vendor details, payment terms, and invoice dates to ensure legitimacy and compliance.

2. GST Compliance and Reconciliation

  • Ensure all applicable statutory compliances, including GST and Tax Deducted at Source (TDS), are met for vendor payments.
  • Verify the supplier's GST Identification Number (GSTIN) and confirm that the tax invoice includes all necessary details, such as the correct GST rate (IGST, CGST, SGST).
  • Reconcile the GST input tax credit (ITC) with records and the GST portal data (GSTR-2A/2B vs. books of accounts).
  • Follow up with vendors to ensure they file their GST returns correctly and on time, as this impacts the company's ability to claim ITC.
  • Track and manage any GST-related adjustments or reversals, such as those required for non-payment within 180 days.

3. Payment Processing

  • Prepare and process various types of payments to vendors, including electronic transfers (NEFT/RTGS), checks, and wire transfers, in a timely manner.
  • Ensure that all payments are processed in accordance with the agreed-upon terms and conditions.
  • Manage and clear vendor advance payments and security deposits as per company policy.
  • Address and resolve any discrepancies or issues related to payments with vendors.

4. Reporting and Documentation

  • Assist in month-end and year-end closing activities, including preparing accounts payable reports and accruals/ provisioning.
  • Maintain accurate and organized records of all accounts payable transactions and supporting documentation for audit purposes.
  • Reconcile vendor statements with the company's records to investigate and resolve outstanding issues.
  • Generate accounts payable aging reports for management review.

5. Vendor and Internal Communication

  • Serve as a primary point of contact for all vendor inquiries regarding invoices and payment status.
  • Collaborate with internal teams, such as procurement and logistics, to resolve purchase and billing discrepancies.
  • Communicate effectively with internal and external stakeholders to ensure a smooth and efficient accounts payable process.

Required Skills and Qualifications

  • 10 years of experience in B.Com or CMA or a related field.
  • Proven experience in an Accounts Payable role, with a strong emphasis on Indian taxation, especially GST and TDS.
  • Thorough understanding of GST laws, rules, and regulations.
  • Proficiency in accounting software SAP and Microsoft Excel.
  • Strong organizational and time-management abilities to meet tight deadlines.
  • Effective verbal and written communication skills.

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