Senior Officer - Accounts Receivables & Payments

1. Job Objective

To manage customer receivables, collection follow-ups, supplier and vendor payments, bank transactions, and account reconciliations while ensuring effective working capital management, accurate financial records, timely payments, and compliance with company policies.

2. Key Responsibilities

A. Receivables & Customer Collections

-Monitor customer outstanding balances, credit periods, and overdue invoices.

-Follow up with customers, dealers, distributors, and institutional buyers for timely collections.

-Prepare daily and weekly customer ageing reports and collection forecasts.

-Coordinate with the sales and dispatch teams to resolve invoice, delivery, e-way bill, and documentation-related payment issues.

-Monitor customer credit limits and escalate overdue accounts to the Finance Manager.

-Reconcile customer ledgers and resolve short payments, deductions, debit notes, and credit note discrepancies.

-Ensure timely accounting and allocation of customer receipts against outstanding invoices.

-Track customer advances and ensure appropriate adjustment against sales invoices.

-Monitor retention money, security deposits, and other recoverable balances, wherever applicable.

B. Supplier & Vendor Payments

-Process payments to raw material suppliers, packaging material vendors, transporters, job workers, and other service providers.

-Prepare payment schedules based on due dates, cash availability, supplier terms, and business priorities.

-Ensure timely payments to critical suppliers to avoid disruption in raw material supply and production.

-Verify vendor bank details and maintain appropriate controls over changes to payment instructions.

-Reconcile vendor statements and resolve outstanding differences.

-Track supplier advances and ensure timely adjustment against invoices.

-Ensure appropriate withholding tax deductions and other applicable statutory compliance before releasing payments.

C. Banking & Treasury Coordination

-Prepare payment batches through internet banking or ERP systems, subject to authorized approval.

-Monitor daily bank balances, receipts, payments, and fund requirements.

-Perform bank reconciliations and investigate outstanding entries.

-Coordinate with banks regarding failed transactions, payment confirmations, and bank charges.

-Support preparation of short-term cash flow forecasts based on expected collections and supplier payment commitments.

-Ensure proper documentation and authorization for all banking transactions.

D. Accounting & Reconciliation

-Maintain accurate customer, supplier, and bank ledgers in the ERP/accounting system.

-Record receipts, payments, credit notes, debit notes, and other relevant transactions.

-Conduct periodic reconciliation of customer and vendor accounts.

-Monitor advances, unapplied receipts, overdue balances, and unreconciled transactions.

-Support monthly closing, balance sheet schedules, and audit requirements.

-Ensure proper filing and maintenance of invoices, payment vouchers, bank advice, and supporting documents.

E. MIS & Reporting

-Prepare daily collection and payment reports.

-Submit weekly customer ageing and overdue outstanding reports.

-Prepare supplier due-date and payment planning reports.

-Track collection targets against actual collections.

-Highlight overdue customer balances, disputed invoices, and critical supplier payment requirements to management.

3. Qualification & Experience

B.Com / M.Com / MBA Finance or equivalent qualification.

36 years of relevant experience in finance and accounts, preferably in a manufacturing organization.

Experience with customer collections, vendor payments, bank reconciliation, and ledger scrutiny.

Working knowledge of GST, TDS, and other applicable statutory requirements.

Experience with SAP

4. Required Skills

Strong knowledge of accounts receivable, accounts payable, and working capital management.

Proficiency in MS Excel, including PivotTables, lookup functions, and MIS reporting.

Good communication and customer/vendor follow-up skills.

Strong analytical skills and attention to detail.

Ability to prioritize collections and payments based on business requirements.

Understanding of manufacturing procurement, inventory receipt, invoicing, and dispatch processes.

High integrity and adherence to financial controls.