Assistant Manager - Accounts Payable

Position / Job Title (Proposed)

AM - Accounts Payable

Designation

Asst Manager

Function

Accounts

Department

Accounts

Reporting To

(Title)

Deputy Chief Manager

Superior's Superior

(Title)

HOD - ACCOUNTS

• Job Purpose
  
  

To be responsible for the payment process of the company and ensure funds of the Company are used only for the specific approved purpose.

Responsible for data security and confidentiality of sensitive information of the Company.

Responsible to comply all statutory commitments by all means – payment, return filing, certificate submission to the statutory bodies.

To co-ordinate for the audit deliverables and assure smooth completion of audit and ensure expenses accounting reflect accurate in the Financial statements of the Company.

• Dimensions:
  
  

Other Quantitative and Important Parameters for the job: Budgets/ Volumes/No. of Products/Geography/ Markets/ Customers or any other parameter

• Responsible to process the below Payments
• Vendor payments.
• Branch Petty Cash & Utility Payments
• Rent Payments
• Payment and ensure accounting entry in Books of Accounts.
• Responsible for BRS – 2 banks.
• Information Security & Confidentiality of sensitive data to be maintained and it is the responsibility of the job holder to ensure a process is in place for the same.
• Tax compliance of all payment related entries and ensure no payment is released without deducting TDS.
• Appropriate tax rate to be applied for tax with-hold.
• Expense Provision for Monthly, Quarterly & yearly Book Closure.
• Quarterly Vendor Ageing Analysis & GL review.
• Drive automation initiatives as a regular process and implement once the automation is through.
• Diplomatic query handling and no inappropriate message to be communicated in the reply.
• Fund management and arrangement for payment release.
• Job Context & Major Challenges (What are the specific aspects of the job that provide a challenge to the jobholder in the context of the Unit/Zone
  
  

Job holder is responsible to validate the payment processing initiated by the Respective Depart and release payment – Vendor payment + Branch Petty Cash + Branch Utility and Rent Payments.

Periodic MIS to internal and external stakeholders and query handling pertaining to the same.

Responsible for reconciliations, ledger reviews, initiate automation requests, preparing data dump to meet MIS requirements.

The major challenges are even distribution of time to meet various payment requests that come up for release simultaneously. Explain the type of data requirement, consolidate it in required form and provide to auditors within timeline. Making the Branch managers and executives interactive and to adhere to the process is also a challenge to be overcome.

Execute the plan of activities as per timelines.

Make automation initiatives a continuous process and implement the same.

• Principal Accountabilities
  
  

Accountability

Supporting Actions

Audit co-ordination

Audit data to be delivered to auditors as per their standards and given timeline.

Payment release

Processing payment for the approved expenses and ensure no double payment, excess payment and strict adherence to the process.

Responsible to Process & verify Vendor, Branch Petty-cash, Rent payments and related accounting entries.

Accuracy

Periodic review & scrutiny of the ledgers by way of verification, DoA check, tax compliance, budget, book entry, actual payment release, bank instruction and investigate any abnormal ageing balances and initiate corrective action. Agreed TAT to be maintained.

To complete accounting and payment activities for timely closure of books of accounts – monthly.

• To ensure payment process, accounting and release of all payments as per DOA. Review DOA at periodic intervals with input from all concerned department heads.
• Prepare JVs, Provision entries.
• GL Reconciliation.
• MIS & Dashboard on BP payout and circulate to stake – holders.
  
  

Statutory compliances

• Query handling of all stake holders – internal & external
  
  

Automation initiatives

• Constant drive automation plans and co-ordinate with IT to make it live.
• Job Purpose of Direct Reports
  
  

Responsible to Vendor, Branch Petty-Cash, Rental Payments process payment after accounting in Books.

Responsible to collect, verify, check approval, account and process payment for Employee reimbursements – mobile, travel, conveyance, business promotion expenses.

Branch Expense management – verify approval, budget, correctness and release payment on timely basis.

Scrutinize Books of Accounts and ageing analysis report.