Vegrow - Accounts Payable Lead - CA (3-5 yrs)

Job Title: Accounts Payable Lead

Location: Bangalore

Department: Finance / Accounts Payable

Reports To: Finance Manager

Position Summary:

We are seeking a meticulous and organized P2P (Procure-to-Pay) Specialist to join our finance team. This role is responsible for ensuring the accurate and timely booking of expenses, managing vendor relationships, and collaborating with cross-functional teams to support efficient payment processing. The P2P Specialist will also be involved in the monthly review of the General Ledger (GL), provision management, and preparation of management information systems (MIS) reports.

Key Responsibilities:

1.Ensure Timely Booking of Expenses

o Ensure that all expenses are accurately recorded in the system on time to reflect the correct financial position of the company.

2. Coordinate with Business Teams for Provisions

o Collaborate with respective business teams to ensure provisions are recorded accurately and timely, based on actual data or forecasts.

3. Provision Reversals and Booking of Provisions

o Manage the reversal of provisions when necessary and ensure new provisions are booked correctly in accordance with company policies and accounting standards.

4. General Ledger (GL) Review

o Conduct periodic reviews of the GL to ensure accurate posting of all transactions, identifying and resolving any discrepancies.

5. Schedules Preparation

o Prepare and maintain schedules for key financial data (e.g., vendor balances, provisions, accruals) to support month-end closing activities.

6. Monthly Management Information System (MIS) Reporting

o Assist in the preparation of monthly MIS reports, providing insights into accounts payable performance, aging, provisions, and other key metrics.

7. Ensure Timely Payments Processing

o Oversee and ensure that all payments to vendors are processed within agreed timelines, avoiding delays or penalties.

8. Proper Recording of Expenses

o Accurately record all expenses in the accounting system, ensuring they align with company policies and budget allocations.

9. Vendor Reconciliation

o Perform regular reconciliations of vendor accounts to ensure that internal records match vendor statements, resolving any discrepancies promptly.

10. Credit and Debit Notes Reconciliation and Posting

- Reconcile and post credit and debit notes in the system, ensuring that all adjustments are properly recorded.

11. Collaboration with Cross-Functional Teams

- Work closely with other departments such as procurement, finance, and operations to ensure smooth processing of payments and address any issues related to payment processing.

12. Vendor Advance Tracking

- Monitor and track advances paid to vendors, ensuring proper accounting treatment and timely adjustments against future invoices.

13. Vendor Balance Confirmation

- Conduct regular balance confirmations with vendors to ensure that the balances in internal records are accurate and up-to-date.

14. Team Deliverables Management

- Ensure the accounts payable team meets all deadlines and delivers on key performance indicators (KPIs), maintaining high standards of accuracy and efficiency.

15. Compliance with Statutory Obligations

- Ensure all invoice processing complies with relevant statutory obligations, including tax regulations and other legal requirements.

16. Vendor Onboarding and KYC (Know Your Customer)

o Manage the vendor onboarding process, ensuring that all necessary documentation is collected and verified for compliance with KYC regulations.

17. Payable Aging Management

o Monitor and report on accounts payable aging, ensuring timely resolution of outstanding liabilities and minimizing overdue payments.

18. Payments Mapping

o Ensure that all payments are correctly mapped in the accounting system, ensuring accuracy in financial reporting.

19. Support for Audits

o Provide necessary documentation and respond to inquiries during internal and external audits related to accounts payable processes.

20. Process Improvement

o Identify opportunities for process improvement within the P2P function, proposing solutions to enhance efficiency, reduce errors, and improve overall workflow.

Qualifications:

- Education: CA (Inter) or CMA (Inte) or MBA or MCOM Finance, or related field.

- Experience:

o Minimum 4-6 years of experience in accounts payable or P2P process management.

o Experience with vendor management, invoice processing, and reconciliation.

- Skills:

o Proficiency in accounting software ZOHO Books advantage not mandatory

o Strong knowledge of accounting principles and the P2P process.

o Excellent communication and interpersonal skills to collaborate effectively with various teams.

o Detail-oriented with strong analytical and problem-solving abilities.

Personal Attributes:

- Highly organized with the ability to manage multiple tasks simultaneously.

- Strong problem-solving skills with a proactive attitude towards resolving issues.

- Ability to work in a fast-paced environment, maintaining attention to detail under pressure.

- Demonstrates a continuous improvement mindset, actively seeking efficiencies in processes.

Why Join Us:

- Growth Opportunities: Be part of a dynamic finance team where you can develop your skills and advance your career.

- Collaborative Environment: Work with cross-functional teams and play a key role in optimizing financial processes.

- Competitive Compensation: Enjoy a competitive salary and benefits package.

- Process Improvement Focus: Have the opportunity to drive change and impact efficiency in a vital business process.