The Senior Officer - Finance is responsible for managing the company's outgoing payments. This role ensures timely, accurate processing of vendor invoices, adherence to company policies, maintaining vendor relationships, and supporting period-end closing activities. The Senior Officer-Finance plays a critical role in maintaining strong financial controls and supporting cash-flow efficiency.
1. Key Responsibilities
Invoice Processing
- Receive, review, and verify vendor invoices for accuracy and completeness.
- Match invoices with purchase orders (PO) and goods receipt notes (GRN) (3-way matching).
- Process non-PO invoices in accordance with approval workflows.
- Ensure GST/VAT and other tax components are correctly coded.
Vendor Management
- Maintain vendor records and ensure compliance documentation is updated.
- Respond to vendor queries and resolve discrepancies.
- Reconcile vendor statements periodically.
Payments
- Prepare weekly/monthly payment runs (NEFT/RTGS/ACH/wire transfers).
- Ensure payments are processed timely and accurately as per credit terms.
- Record payments and post entries in ERP.
Compliance & Controls
- Ensure adherence to internal controls, company policies, and audit requirements.
- Support internal, statutory, and external audits with documentation.
- Ensure correct tax deduction at source (TDS) and filing.
Reporting
- Prepare AP aging reports and follow up on overdue items.
- Support month-end closing: accruals, provisions, outstanding reports.
- Provide data for cash-flow forecasting.
ERP & Documentation
- Working on ERP systems, IFS knowledge is preferred.
- Maintain proper document filing—digital and physical.
3. Key Skills & Competencies
Technical Skills
- Proficiency in AP processes: invoice processing, vendor reconciliation, payment processing.
- Understanding of accounting principles and tax laws (GST, TDS, VAT).
- Strong Excel skills (VLOOKUP, Pivot tables, data validation).
- Experience with ERP systems.
Soft Skills
- Attention to detail and accuracy.
- Strong communication and vendor-handling capabilities.
- Time management and ability to meet deadlines.
4. Required Qualifications
- B.Com / M.Com / Finance background preferred.
- 5-7 years of experience in Accounts Payable (depending on role).
- Experience in a corporate finance or shared services environment is beneficial.
5. Performance Indicators (KPIs)
- Invoice processing accuracy.
- Turnaround time (TAT) for invoice posting.
- Vendor query resolution time.
- On-time payment performance.
- Audit compliance and zero non-compliance observations.
- AP aging and overdue reduction.
