Job Description

Executive Accounts Payable - COACT221

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Job Title

Executive - Accounts Payable

Function

Accounts

Reporting to

Assistant Manager - Accounts Payable

1. Purpose

Responsible for timely and efficient accounting and payment processing to facilitate timely payments to vendors / channel partners / service partners etc. in line with the applicable statutory / regulatory requirements and internal guidelines

2. Key Responsibilities

Responsibilities

Conduct execution of accounts payable activities in adherence to defined accounting guidelines, practices and standard operating procedures

Conduct and ensure accuracy of data entry for vendor related payments, cash vouchers etc. Raise vendor codes for the processing of payments as per the terms of contract and ensure payment processing only on verification of compliance with vendor codes

Conduct bill processing and detailed verification of vendor invoices generated for the services availed In case of defective invoice, ensure rectification of the invoice. Follow up with the buyer on a periodic basis for the corrected invoice within prescribed time limits

Conduct payment processing on verification of the bills / invoices / vouchers etc. after determining relevant tax liability and statutory deductions Review the credit period of vendors on a regular basis and process transactions as per the applicable credit period

Conduct timely processing of cash payments in coordination with regional teams Perform bank reconciliation and account for bank charges on a daily basis

Check whether the payment is executed / rejected by the bank and find out the reason for rejection of payment, if any

Support octroi reconciliation activities and ensure all octroi and statutory payments are made within defined timelines

Respond to and satisfactorily resolve queries raised by internal and statutory audits

Prepare and submit MIS as required by the superior

3. Key Result Areas and Key Performance Indicators

S.No.

Key Result Areas

Key Performance Indicators

1.

Ensure efficiency and timely verification of vendor payments



% accurate invoice verification




% timely processing of payments to vendors

2.

Efficiency in accounts payable operations



% accurate data entry of accounts payable transactions




% timely filing and recording of vendor invoice along with the tax invoice

3.

Processing of all COD, FOD, DOD etc. payments



% timely completion and accuracy of all payments related to COD, FOD, DOD and related transactions

4.

Maintenance of documentation and record keeping



Number of deviations observed in documentation requirements

5.

Ensure performance driven culture



* Adherence to performance management system timelines and guidelines