JOB DESCRIPTION :

Job Summary:
Responsible for timely processing of vendor invoices,timely vendor payments,periodical reconciliation of vendor statements and strict compliance of vendor KYC.

Duties & Responsibilities:

•  Invoice must be processed on timely basis with the expenses reflected in the accounting period incurred.
•  Only original invoices should be processed.A photocopy of an invoice is not acceptable support for processing payment.
• Accounts payable voucher packets should include : (a) approved purchase orders ; (b) approved vendor invoices ; (c) receiving documentation.
• All invoices must be stamped.
• Review invoice for completeness and proper approvals.Authorized approvers are the Department Heads.
• If an invoice is received without an approved Purchase order,it will not be submitted for payment.
• Ensure purchases are made from vendors that have registered GSTN to ensure GST input credits are claimable.
• Ensure Vendor master list is supported with KYC documents/details in the system.
• Ensure prior to Vendor Master Creation,all KYC documents are received from vendor.Under no circumstance vendor master creation is done without KYC.
• Ensure that all expenditures are properly coded.The Chart of Accounts should be referenced to the correct coding.
• All invoices with discrepancies or dispute must be reviewed and resolved by the appropriate department head by the end of the accounting period.
• Accounts payable cheque runs will be on weekly on monthly basis.
• The completed Accounts payable voucher packet must accompany each cheque and should be reviewed by each signer for completeness.
• Any specific handling of invoices i.e. overnight,specific " pay by dates" ,cheque requests etc must be clearly noted and accompany the invoice.Otherwise normal processing procedure will be used.
• Unless otherwise agreed to,the property should pay invoices based on 30-60 day term.
• AP packets will be filed alphabetically/document no. wise.
• Once a voucher packet has been processed for payment,the packets and the supporting documents must be stamped and defaced.
• Electronic processing of payments must have above controls in place.An audit trail of the control process must be available
• Managing the employee expense claims' process
  
• Ensuring credit notes are processed accurately
• Reconciliation of supplier statement on monthly/Quarterly basis.
• Generating journals for month end reporting
  
• Ongoing improvements to the accounts payable process