Job Purpose / Role:
The position is responsible to:
- Support business objectives in Payments and Collections area through adherence to all internal & external procedures with vendor / customer service orientation,
- Validate and record transactions and events appropriately, timely and in an errorfree manner to provide updated information to Management,
- Support business objectives of MIS, Tax records, Cost records, FS preparation and fulfill the needs of varied audits and Management initiatives carried out from time to time.
Key Functional Activities and responsibilities:
Vendor Management, Account payable, Procure to pay management:
- Support business objectives in Payments area through adherence to all internal & external procedures & vendor service orientation,
- Overall supervision of day-to day / periodical Payment related transactions,
- Payment Cash flow projections,
- Adherence to statutory payment i.e. Custom, TDS and GST due dates and Ensure compliance with reporting/ response deadlines,
- Advance Payment to Vendor Import/Domestic/Employee and Monitoring timely settlement of advance,
- Ensuring timely payment to vendor/Utility/Employee on due date,
- Effectively support in processing transactions in the Payments area relating to Forex/INR payments, and ensure errorless delivery,
- Support for centralisation of Payment process at Head-office,
- Vendor ledger reconciliation,
Recording of Bank collection transactions and customer adjustments:
- Recording of customer receipts on daily basis,
- Identifying the customer deductions / adjustments and communicate to the relevant authorities for required approvals and confirmations,
- Initiate the debit / credit notes for the customer adjustments,
- Communicate and coordinate effectively with cross department teams,
- Customer ledger reconciliations
Other relevant activities:
- Bank reconciliation.
- Monthly Ledger scrutiny.
- Coordinate with HO team, Bank and other Employees across departments,
- Coordinate with auditors in conducting Internal / Statutory Audit, assisting in preparing Audit Reports and implementing recommendations, if any,
- Direct interaction with counterparts for resolution of queries and follow-up on documentary exceptions,
- Drive automation projects like API payment integration, GST filings and payment integration, etc.,
- Contributing towards department efforts in the areas of constant process improvement, improving productivity, reducing TAT, etc.,
- Conduct physical inventory checks and resolve issues with regards to any variance if observed.
- Support the Compliance desk with regard to all relevant compliance relating requirements.
Documentation and Reports
- Daily Bank reconciliation file,
- Daily cashflow file update,
- Daily MIS on In-word inventory along with timings for GRN and purchase accounting,
- Weekly MIS on pending debit / credit notes and other exception reports on regularisation of transactions,
- Periodical vendor payment file basis the due date and overdue ageing,
- Monthly vendor / customer advance file,
- Periodical vendor and customer receivables ageing file basis due date,
- Support on all Management initiatives and active participation in its execution.