The Accounts payable lead is responsible for ensuring the smooth, accurate and compliant functioning of the Accounts Payables function and act as a single point of contact for any matters related to Accounts Payable
Key tasks
Review and Approvals
:
Payables ageing report
Advances, credit notes and debit notes to be issued to vendors
Payments above threshold / exceptional subject to CEO approval
Petty cash accounts
Bank reconciliation reports
AP related manual journal vouchers
Invoice Processing & Invoice Payments:
Oversee end-to-end invoice processing to ensure accuracy and timeliness.
Resolve procurement team queries related to payments and advance adjustments.
Monitor invoice processing metrics and performance standards; initiate corrective actions as needed.
Ensure punctual and accurate payments to avoid late fees, penalties, or interest.
Ensure timely processing of statutory payments and other direct expenses.
Maintain and update the payment prioritize calendar in coordination with the Treasury team.
Ensure availability of authorized cheque/DD signatories to prevent operational delays.
Compliance & Audit Support:
Manage invoice and payment processing operations in line with agreed SLAs.
Ensure timely AP books closure and reconciliation of AP Trial Balance with General Ledger.
Review all payment related file.
Provide necessary support to audit teams and respond to audit observations with appropriate corrective and preventive actions.
Maintain and update the Vendor Master; ensure periodic vendor reconciliations.
System & Process Improvement:
Collaborate with corporate, units and IT teams to resolve system issues and implement process improvements that enhance accuracy and efficiency.
Stakeholder Engagement & Reporting:
Act as the single point of contact for corporate, units and procurement for invoice and payment processing.
Manage relationships with internal stakeholders to ensure service delivery as per agreed SLAs
Team Leadership & Performance Management:
Delegate and allocate tasks to managers and executives based on workload, urgency, and team capabilities.
Monitor processor performance regularly and recommend training interventions where needed.
Drive productivity and ensure targets are consistently met or exceeded.
Key Result Areas and KPI's:
1) Invoice Processing and Accuracy
% of invoices processed within the defined TAT
Invoice error rate / rework instances
% of invoices matched (3-way)
Average invoice processing cycle time
2) Invoice Payments
% of payments released as per agreed credit terms
Number of payment errors
Reduction in late payment penalties
3) Compliance & Controls
% adherence to internal controls and policies
Number of audit observations
Timely closure of compliance / statutory payments
4) Financial reporting & Accuracy
Accuracy of AP subledger vs GL
Timeliness of AP closing with in corporate timelines