Accounts Payable

Position Overview

We are seeking a detail-oriented and proactive professional to join our finance team as an Accounts Payable Specialist. This critical role is responsible for ensuring the accurate and timely processing of all payables transactions, maintaining strong internal controls, and supporting the monthly financial close process. The ideal candidate will possess a keen eye for accuracy, exceptional organizational skills, and the ability to collaborate effectively with cross-functional teams to uphold the integrity of our financial operations.

Key Responsibilities

The Accounts Payable Specialist will be entrusted with a range of responsibilities designed to streamline and optimize our payables processes. These include:

• Invoice Verification and Processing: Review supplier invoices to confirm completeness, accuracy, and compliance with contractual terms. Ensure all supporting documentation, such as purchase orders and receipts, is properly attached and validated before processing.
• ERP System Management: Accurately record supplier invoices and expense allocations within our enterprise resource planning (ERP) system. Maintain up-to-date records to facilitate efficient financial reporting and decision-making.
• Accruals and Prepayments: Monitor accrued and prepaid expenses, preparing and posting necessary journal entries to reflect financial obligations and assets accurately. Ensure compliance with accounting standards and company policies.
• Payment Processing: Prepare payment requests in accordance with established approval procedures. Coordinate with treasury and procurement teams to ensure timely and accurate disbursements while adhering to payment terms.
• Reconciliation and Variance Analysis: Match supplier statements with internal records to identify and resolve discrepancies. Conduct thorough variance analysis to address overdue items and maintain healthy vendor relationships.
• Supplier Relationship Management: Monitor supplier balances and aging reports, proactively following up on overdue payments and resolving any discrepancies. Serve as a liaison between the company and vendors to ensure clear communication and mutual understanding.
• Monthly Financial Close Support: Contribute to the monthly closing process by performing reconciliation tasks, verifying account balances, and ensuring all payables-related entries are accurately recorded. Assist in preparing financial reports for management review.
• Tax Compliance: Review and validate the application of value-added tax (VAT) on supplier invoices. Ensure accurate tax treatment in compliance with regulatory requirements and company policies.
• Reporting and Analysis: Prepare and deliver reports related to expenses and accounts payable as required for management, audits, and compliance purposes. Provide insights and recommendations to improve financial processes and controls.
• Cross-Functional Collaboration: Work closely with procurement, operations, and other departments to ensure the accuracy and integrity of financial data. Participate in process improvement initiatives to enhance efficiency and reduce operational risks.
• Policy and Compliance Adherence: Strictly adhere to the company’s financial policies, procedures, and internal controls. Ensure all activities are conducted in accordance with regulatory standards and best practices in accounts payable management.

Qualifications and Skills

To excel in this role, candidates should possess the following qualifications and attributes:

• A bachelor’s degree in Accounting, Finance, or a related field. Relevant certifications such as CPA or ACCA are a plus.
• A minimum of 3-5 years of experience in accounts payable, preferably within a corporate or enterprise environment.
• Proficiency in ERP systems and accounting software, with a strong understanding of financial controls and compliance requirements.
• Exceptional attention to detail and analytical skills to identify discrepancies and resolve issues efficiently.
• Strong communication and interpersonal abilities to collaborate effectively with internal and external stakeholders.
• Ability to work independently, prioritize tasks, and meet deadlines in a fast-paced environment.
• Familiarity with tax regulations, including VAT, and experience in financial reporting and reconciliation.