Accounts Payable Associate

This is a fully remote position, open to applicants in India.

📋 Description

• Oversee the comprehensive accounts payable process, which includes receiving, validating, accounting for, approving, and processing payments for invoices.

• Examine vendor invoices to ensure they are complete, accurate, have the necessary approvals, and comply with company policies.

• Conduct 2-way/3-way matching of invoices with purchase orders and receipts of goods/services as applicable.

• Assure that invoices are recorded in the appropriate General Ledger accounts, cost centres, departments, and projects.

• Keep vendor master and accounts payable records updated and precise.

• Handle employee/vendor reimbursements and other payable transactions as necessary.

• Track outstanding invoices and ensure timely resolution of any blocked or disputed invoices.

• Compile and maintain vendor ageing reports to assist in managing working capital.

• Apply relevant TDS provisions under the Income-tax Act, including identifying applicable sections, rates, thresholds, and types of payments.

• Confirm TDS applicability on vendor invoices and ensure correct deductions at the time of payment or credit, as required.

• Assist in the preparation and reconciliation of TDS returns, challans, certificates, and related documentation.

• Review vendor PAN and other tax information, ensuring proper documentation is maintained.

• Comprehend and apply GST provisions pertinent to Accounts Payable, including GSTIN validation, CGST/SGST/IGST applicability, Reverse Charge Mechanism, Input Tax Credit eligibility, and necessary invoice and tax documentation.

• Conduct GST input reconciliation with accounting records and available GST documents/returns, identifying any discrepancies.

• Collaborate with tax and finance teams to resolve vendor issues related to TDS and GST.

• Maintain supporting documentation for statutory audits and tax assessments.

• Carry out vendor account reconciliations and examine any outstanding or unmatched balances.

• Reconcile vendor ledgers against vendor statements and address any discrepancies.

• Aid in month-end closing processes, including accruals, provisions, prepaid expenses, and accounts payable ageing.

• Identify and follow up on long-standing advances, debit balances, and unallocated items.

• Ensure that expenses are recorded in the correct accounting period according to the accrual principle.

• Support the preparation of accounts payable-related schedules and reports for internal and statutory audits.

• Ensure adherence to internal financial controls and accounts payable policies.

• Identify duplicate invoices, unusual transactions, incorrect tax deductions, and other potential control issues.

• Assist in the enhancement and automation of accounts payable processes.

• Maintain accurate audit trails and documentation for all accounts payable transactions.

• Help in creating process documentation, Standard Operating Procedures (SOPs), and control checklists.

⛳️ Requirements

• Bachelor's degree in Commerce, Accounting, Finance, or a related discipline.

• 3–4 years of pertinent experience in Accounts Payable, Procure-to-Pay (P2P), or accounting operations.

• Strong understanding of Indian taxation concerning accounts payable, especially TDS and GST.

• Good grasp of fundamental accounting principles and financial reporting.

• Experience in vendor reconciliation and month-end closing activities.

• Proficient in MS Excel, including VLOOKUP/XLOOKUP, Pivot Tables, SUMIFS, and basic data analysis.

• Familiarity with ERP/accounting systems such as Oracle, SAP, Microsoft Dynamics, NetSuite, Zoho Expense, or similar is preferred.

• Strong attention to detail with the ability to detect discrepancies in high-volume transactions.

• Practical knowledge of Income-tax Act provisions related to TDS.

• Practical understanding of GST/ITC and RCM from an accounts payable perspective.

• Experience in addressing vendor inquiries regarding tax deductions and invoice processing.

• Capability to interpret tax provisions and assess their implications on daily accounts payable transactions.

• Strong analytical and reconciliation skills.

• Excellent communication and stakeholder management abilities.

• Ability to work independently and adhere to month-end closing deadlines.

🏝️ Benefits

• Parental leave- Maternity and Paternity

• Flexible Time Offs (Earned Leaves, Sick Leaves, Birthday leave, Bereavement leave & Company Holidays)

• In Office Daily Catered Breakfast, Lunch, Snacks and Beverages

• Health cover for any hospitalization. Covers both nuclear family and parents

• Tele-med for free doctor consultation, discounts on health checkups and medicines

• Wellness/Gym Reimbursement

• Pet Expense Reimbursement

• Childcare Expenses and reimbursements

• Employee referral program

• Education reimbursement program

• Skill development program

• Cell phone reimbursement (Mobile Subsidy program)

• Internet reimbursement/Postpaid cell phone bill/or both

• Employee Provident Fund Scheme offering different tax saving options such as Voluntary Provident Fund and employee and employer contribution up to 12% Basic

• Creche reimbursement

• Co-working space reimbursement

• National Pension System employer match

• Meal card for tax benefit

• Special benefits on salary account