Senior Executive - Finance
Requisition ID : 35644
Location: India
A Senior Executive Accounts Payable in India is responsible for managing the end-to-end accounts payable function, with a specific focus on meticulously verifying and processing invoices to ensure compliance with cost-plus agreements, internal controls, and Indian tax regulations (e.g., GST, TDS). The role requires strong attention to detail, analytical skills, and a deep understanding of the unique requirements of cost-plus accounting.
Job Description: Senior Executive Accounts Payable
Key Responsibilities
- Invoice Management & Processing:
- Review, verify, and process a high volume of vendor invoices, ensuring accuracy and proper authorization.
- Perform rigorous 2-way or 3-way matching of invoices against purchase orders (POs), contracts, and receiving documents, paying close attention to the specific terms of cost-plus agreements.
- Knowing key processing knowledge of Invoices received on SEZ, DTA, STPI zones
- Posting Fixed Assets purchases to AUC and capitalization + Depreciation rules.
- Clarify questionable invoice items, prices, and receiving signatures, resolving discrepancies promptly by coordinating with the procurement and operations teams.
- Cost-Plus Specifics & Compliance:
- Ensure all vendor invoices comply with the terms and conditions outlined in cost-plus contracts, verifying the accuracy of all cost components and the applicable profit margin calculation.
- Verify the correct application and calculation of Goods and Services Tax (GST) and ensure accurate recording and timely remittance of Tax Deducted at Source (TDS) as per Indian tax laws.
- Maintain detailed documentation and audit trails specific to cost-plus calculations for complete transparency during internal and external audits.
- Payment Processing & Reconciliation:
- Prepare and process timely electronic payments (NEFT/RTGS, etc.) and other payment methods, monitoring payment schedules to avoid late fees.
- Conduct regular and thorough reconciliation of vendor statements to the accounts payable ledger, investigating and resolving outstanding balances or discrepancies.
- Assist with month-end and year-end closing activities, including preparing accruals and ensuring all financial records are accurate for reporting.
- Vendor & Stakeholder Management:
- Serve as the primary contact for vendor inquiries regarding payment status and discrepancies, building and maintaining positive relationships.
- Collaborate effectively with internal departments, particularly project management and procurement, to ensure seamless invoice approval workflows.
- Process Improvement & Reporting:
- Generate and maintain accounts payable aging reports, cash flow projections, and vendor spend analyses to provide financial insights to management.
- Identify and implement opportunities for process improvements and automation within the AP workflow to enhance efficiency and accuracy.
Required Skills and Qualifications
- Education: A Bachelor's or Master's degree in Finance, Accounting, or a related field (e.g., B.Com, M.Com, MBA in Finance).
- Experience: 3 to 5 years of proven experience in accounts payable or general accounting, preferably within an entity on Cost Plus Model.
- Technical Skills:
- Strong working knowledge of accounting principles and AP workflows.
- Proficiency in accounting software/ERP systems (e.g., SAP, Oracle) and MS Excel (advanced skills preferred).
- Familiarity with relevant Indian tax compliance requirements (GST, TDS).
- Soft Skills:
- Exceptional attention to detail and high accuracy in data entry and analysis.
- Strong organizational and time management skills, with the ability to prioritize and meet tight deadlines.
- Excellent communication and interpersonal skills for effective interaction with both internal and external stakeholders.
