Senior Executive - Accounts Payable

Locations --
Mumbai, India
Business Area/Department --
Finance
Contract Type --
Permanent

Main purpose of role:

Ensure day to day recording of transactions in payables

Ensure raising Retro PO where PO is not raised by the relevant units

Ensure Reconciliation of vendors monthly

Make monthly accruals for expenses and preparation of variance analysis dashboard

Manage the Prepaid expenses of the group entities.

Handling queries from Customers (Internal and External)

Prepare AP related Audit schedules and MIS.

 

Key result areas:

Re-referencing of invoices to a proper legal entity

Process SRN within 1 working day from the date of receipt of invoice

Process invoice within 1 working day from the date of final release of SRN

Co-ordinate with internal customers and external vendors to ensure invoices are addressed to proper / correct legal entities.

Escalation of issues to the Manger if things are not sorted out within stipulated timeline

To raise a retrospective PO where PO is not raised by relevant units

Reply to internal / external queries within 24 hours of receipt of queries

Keeping track of GRNI

Follow-up of quality block invoices

Ensure Vendors paid on time

Review of debit balances in creditors

Review of all open POs raised on a weekly basis

Suggest advance payments on a weekly basis

Ensure allocations and contra postings (receivable/payable) are done on a weekly basis

Ensure no pending invoices at the end of the month against all approved SRNs

Reconciliation of vendors on a monthly basis

Keeping track of advance and direct debit payments & follow up for invoices

Managing Prepaid expenses

Preparation & Analysis of Increase/Decrease in Creditors on a monthly basis

 

KEY Responsibilities

Ensuring invoices are recorded in proper / correct legal entities

Ensure there is no duplication while raising retrospective PO

Ensure escalation if the queries are not addressed by vendor / internal customers within stipulated timeline

If the resolution of query can’t be addressed in 24 hours, then to acknowledge the receipt and agree a timeline for resolution

Keeping track of GRNI on a regular basis – should not be more than a month

Ensuring vendors paid on time – nothing should go beyond 60 days

Review of Open POs to ensure proper GL & CC used

Suggest advance payments where agreed after proper approval

Allocations to be done after approval from the relevant units wherever applicable (generally this should be taken care of while posting the invoice itself)

Ensure all invoices are posted against approved SRNs

Reconciliation of vendors (80:20 principle) by 25th of every month

Ensure reconciliation items are sorted out prior to next reconciliation

Ensure invoices are received against advance payments made within agreed timeline

Monthly Purchase Order/Manual accrual postings and preparing the PO accrual variance analysis dashboard.

Preparation of Monthly Audit Schedules.

Preparation & Circulation of KPI matrix of the PL team.

Monthly GL review to identify variance over previous month.

Preparation & Analysis of Increase/Decrease in Creditors on a monthly basis.

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