Executive- Accounts Payable

Role & responsibilities -

1.Vendor Invoice Management

• Receive, verify, and process vendor invoices, supplier bills, and expense invoices.
• Verify invoices against Purchase Orders (POs), Service Orders (SOs), Goods Receipt Notes (GRNs), Certificates of Analysis (COAs), and other relevant supporting documents, wherever applicable.
• Ensure the accuracy of invoice values, GST details, vendor information, accounting entries, and agreed payment terms.
• Identify and resolve invoice discrepancies, duplicate invoices, missing documents, and approval-related issues.
• Ensure invoices are recorded in the appropriate company books within the prescribed timelines.

2. Vendor Payment Processing

• Closely co-ordinate with banking team and prepare and share vendor payment schedules based on agreed credit terms and due dates.
• Coordinate with the Finance Manager for payment approvals.
• Monitor overdue invoices and ensure timely payments to vendors.

3. Vendor Account Reconciliation

• Reconcile vendor ledger balances with supplier statements (Monthly /Quaterly/ Yearly) as per requirement.
• Investigate and resolve discrepancies in invoices, payments, debit notes, and credit notes.
• Follow up with vendors regarding outstanding balances and payment confirmations.
• Ensure accurate and up-to-date vendor account records across all group companies and branches.
• Maintain accurate vendor account records.

4.GST / MSME and Tax Compliance

• Verify vendor GSTIN, invoice particulars, applicable GST rates, and other relevant tax details.
• Reconcil purchase records with GSTR-2B, wherever applicable, and coordinate the resolution of discrepancies.
• Verify the applicability of Reverse Charge Mechanism (RCM), GST input tax credit restrictions, the 180-day payment-related ITC reversal provisions, and blocked credit under applicable GST provisions.
• Ensure proper identification, calculation, deduction, documentation, and reporting of TDS and other applicable statutory obligations.
• Monitor payments to Micro and Small Enterprises (MSMEs), ensure compliance with applicable payment timelines and reporting requirements, and proactively highlight potential violations.
• Maintain supporting documentation and coordinate with the Finance team during GST, TDS, internal, and statutory audits.
• Track relevant compliance deadlines and ensure timely completion of assigned activities.

5. Vendor Management

• Coordinate with vendors regarding invoices, outstanding payments, and account statements.
• Maintain vendor master data, including bank details, GSTIN, PAN, and payment terms.
• Ensure vendor bank detail changes are independently verified and approved.
• Maintain professional relationships with suppliers and internal departments.

6. Reporting and Documentation

• Prepare and circulate accounts payable ageing reports, vendor outstanding reports, and payment schedules within prescribed deadlines.
• Maintain complete records of invoices, payment vouchers, debit notes, credit notes, reconciliations, and supporting documents.
• Provide accurate vendor liability and outstanding payment information to the Reporting Manager for cash flow planning.
• Support monthly, quarterly, and annual financial closing activities.
• Maintain a systematic record of pending invoices, disputed balances, unapproved bills, and upcoming payment obligations.

7. Internal Controls and Audit Support

• Follow company policies and approval procedures for invoice processing and payments.
• Prevent duplicate payments and unauthorized transactions.
• Maintain proper documentation for internal and external audits.
• Ensure confidentiality and accuracy of financial information.