Assistant Manager - Accounts Payable

Job Purpose:

The Accounting & Finance Executive is responsible for ensuring the accurate and timely completion of key financial tasks, including invoice booking, monthly closing, statutory compliance, bank and vendor reconciliations, and support for audits. This role will manage financial records, ensure statutory compliance, and provide crucial insights for smooth financial operations.

1. Invoice Booking & Monthly Closing:
• Verify and book all invoices accurately in the accounting system.
• Ensure all relevant documents are submitted for timely monthly closing.
• Maintain accurate records of all invoices, including vendor and customer transactions.
• Statutory Compliance Payments:
• Ensure timely payment and filing of TDS (Tax Deducted at Source), statutory dues within their respective due dates.
• Prepare and submit necessary documentation for compliance with relevant tax authorities.
2. IUT (Inter-Unit Transactions) Reconciliation:
• Reconcile head office (HO) related inter-unit transactions to ensure accuracy.
• Identify discrepancies and work to resolve any issues related to inter-unit transfers and settlements.
3. Bank Reconciliation:
• Perform monthly bank reconciliation for all payment bank accounts.
• Ensure all transactions are recorded correctly and resolve discrepancies between bank statements and accounting records.
4. Vendor Reconciliations:
• Reconcile vendor ledgers and outstanding balances.
• Ensure timely settlement and communication with vendors to resolveany discrepancies between the accounts payable and vendor statements.
5. Advances:
• Manage the issuance and settlement of vendor advances.
• Ensure proper accounting and documentation for all advances issued and cleared.
6. Vendor Payments:
• Oversee the payment process to vendors, ensuring that all payments are made according to agreed terms.
• Ensure payments are recorded accurately in the accounting system.
7. Sundry Payment Reimbursement:
• Verify petty cash vouchers, ensuring all expenses are legitimate and properly documented.
• Process petty cash reimbursements in a timely manner.
8. Audit:
• Provide audit-related documents and support to Internal /external auditors during the audit process.
• Ensure timely resolution of any queries raised during the audit and maintain compliance with audit requirements.
9. Circulation of Creditor Payout List:
• Prepare and circulate a detailed list of creditor payments required for vendor payouts.
• Work closely with the finance team to ensure sufficient funds are available for timely payments to vendors.
10. Related Party Transactions:
• Reconcile related party transactions.