Essential Functional:
Responsibilities:
- Invoice Processing: Receive and review vendor invoices for accuracy and completeness. Match invoices with purchase orders and receiving documents to verify pricing, quantities, and other terms. Ensure proper GL selection, classification and authorization of invoices before processing for accounting.
- Accounting Entry: Enter invoice data into the accounts payable module accurately and in a timely manner. Maintain updated records of vendor invoices, advances, payments, and other relevant information. Resolve discrepancies and follow up with internal departments as needed.
Record other accounting transactions such as Sales, Bank Payments and Receipts, Cash payments as and when needed. Assist in compiling data, documents and records for foreign inward and outward payments.
- Payment Processing: Assist in the preparation of payment batches i.e. Fund Transfer Requests, including domestic and import payment. Ensure timely and accurate processing of payments to vendors in accordance with payment terms and company policies.
- Reconciliations: Communicate with purchase and sales team regarding invoice queries, payment status, and account reconciliations. Address vendor and customer related concerns and discrepancies promptly.
- Recordkeeping and Filing: Maintain organized and up-to-date files for all vendor invoices, payment records, and other accounts payable documentation. Ensure adherence to document retention policies and assist in document retrieval as needed for audits or any inquiries.
- Assistance with Month End Activities:
- Reconciling accounts payable sub-ledgers to the general ledger.
- Assist in preparing & recording accruals for outstanding invoices, pre-paid expenses, maintaining schedule for advances given to vendors, staff and group companies
- Measuring and recognising foreign currency fluctuations
- Maintaining Import Purchase Register (covering details like FOB Value, CIF Value, Duty Break-up and Scrip utilisation, other incidental costs such as CHA bills)
- Updating fixed asset register, releasing updated stock price or physical count for inventory valuation
- Generating and reviewing aging report for long overdue payments, negative balances of vendors and customers. Check negative balances of expenses and income and perform account reconciliations as assigned
- Assistance with Statutory Compliances:
- Maintaining vendor and customer master data (Name, Address, Legal Status, PAN, GST number etc.)
- Assist in compiling data for Input Credit Register and reconciling same with GST Tax GLAs, compiling details for GST under Reverse Charge Mechanism required for filing GSTR 3B
- Preparing Sales Register and reconciling Sales and GST output Tax with books of account
- Assist in compiling data for computing TDS Liability on monthly basis and compiling details for quarterly TDS return preparation
- Recording tax payment and set-off entries and ensure that they agree with statutory filing.
Authorities: The incumbent shall have authority:
- to access information, to obtain explanations and request additional information which are necessary to perform assigned duties
- to collaborate with respective team members within accounting team and seek information/details for assigned work.
- to ask for necessary details and information from team member of other departments as may be necessary to discharge his duties and work responsibilities properly. One can refer to Corporate Accounting procedures and internal local policies to understand rights imparted to accounting function.
- to use assigned company assets such as laptop/computers, access to necessary software
Supervisory Responsibility:
This position has no direct supervisory responsibilities.
Work Environment:
This Job responsibilities in a professional office environment. This role routinely uses standard office equipment such as laptop computers, photocopier, and smartphones. This is an on-premises role in Vadodara India.
Physical Demands:
While performing the duties of this job, the employee is regularly required to talk or hear. Specific vision abilities required by this job include close vision and ability to adjust focus. This would require the ability to lift files, open filing cabinets and bend or stand on a stool as necessary.
