Accounts Payable Executive

Role & responsibilities

1. Payment Processing

• Prepare daily, weekly, and monthly payment Planning.
• Process vendor, employee reimbursement, statutory, and other payments through banking portals.
• Verify payment requests against approved invoices, purchase orders, and supporting documents.
• Ensure payments are made within approved credit terms and company policies.
• Upload payment files and initiate transactions in various bank portals.

2. Approval Coordination

• Liaise with Purchase, Stores, User Departments, and Management for payment approvals.
• Follow up with approvers to ensure timely release of payments.
• Resolve payment-related queries and discrepancies before processing.
• Maintain proper approval records and supporting documentation.

3. Banking Operations

• Handle multiple bank portals and online banking transactions.
• Monitor payment status and ensure successful completion of transactions.
• Coordinate with banks for transaction issues, banking limits, and operational matters.
• Manage beneficiary creation, modification, and validation as per company procedures.

4. Reconciliation & Controls

• Reconcile bank statements with payment records.
• Verify payment entries posted in ERP/accounting software.
• Ensure that duplicate or unauthorized payments are avoided.
• Maintain payment registers and supporting records.

5. Vendor & Internal Coordination

• Respond to vendor payment inquiries.
• Coordinate with Purchase and Accounts Payable teams for invoice and payment status.
• Support month-end and year-end payment reconciliations.
• Assist in audit requirements related to payments and banking transactions.

6. Compliance

• Ensure compliance with company payment policies and approval matrix.
• Verify TDS, GST, and other statutory deductions before payment processing.
• Maintain confidentiality of banking credentials and payment information.