Description:
The Finance Officer – Payables is responsible for managing the organization's accounts payable processes, ensuring the accurate and timely processing of payments, maintaining vendor relationships, and supporting the overall financial management of the organization. The role demands a high level of accuracy, attention to detail, and adherence to organizational policies and financial regulations.
Key Responsibilities:
1. Accounts Payable Management
- Process and record supplier invoices, credit notes, and payment requests in the accounting system.
- Ensure accurate classification and coding of expenses to relevant general ledger accounts and cost centers.
- Match purchase orders, delivery notes, and invoices to ensure accuracy and completeness.
2. Payment Processing
- Prepare, and schedule payment runs via cheques, bank transfers, and other payment modes.
- Ensure timely payments to vendors and service providers, adhering to agreed-upon payment terms.
- Identify and resolve discrepancies or issues related to invoices or vendor payments.
3. Vendor Relations
- Maintain and updated vendor master data in the financial system.
- Respond promptly to vendor inquiries and resolve payment-related concerns.
- Establish and maintain professional relationships with vendors and service providers.
4. Reconciliation and Reporting
- Reconcile accounts payable ledger to ensure all invoices and payments are accounted for and accurately posted.
- Assist in monthly and yearly financial closing, including preparation of AP aging reports and reconciliations.
- Provide management with Periodic reports on accounts payable performance.
5. Compliance and Internal Controls
- Ensure adherence to internal financial policies, tax regulations, and relevant legal laws and requirements.
- Assist in audit processes by preparing and providing required documentation and reports.
- Implement and uphold internal controls to ensure accurate financial reporting and prevent fraud.
6. Cross-Functional Support
- Collaborate with procurement, admin, and operations teams to ensure smooth procurement-to-payment workflows.
- Proactively identify areas for process improvement and propose effective solutions.
- Support the Supervisor or Controller with ad-hoc financial tasks as required.
7. Other Duties
- Handle routine correspondence with regional offices and banks as required.
- Ensure proper filing and documentation in compliance with applicable laws and company policies.
- Perform any other tasks assigned by supervisors or managers.
Required Skills and Competencies
- Strong understanding of accounting principles and accounts payable processes.
- Proficiency in Microsoft Excel and other financial analysis tools.
- Excellent communication and interpersonal skills to handle vendor and internal relationships.
- Strong organizational skills with the ability to prioritize tasks and meet deadlines.
- Attention to detail and problem-solving abilities.
Qualifications and Education Requirements:
- Bachelor’s degree in Accounting, Finance, or a related field.
Required Experience:
- Minimum 3-5 years of relevant experience in accounts payable or financial operations.
- Experience with ERP systems is preferred. The candidate should be at least Graduate in Commerce
- MS Office with good typing speed.