Assistant Manager Accounts Payable

Job Description

The Assistant Manager - Accounts Payable is responsible for overseeing the Accounts Payable function, ensuring accurate and timely processing of vendor invoices and payments. This role will coordinate with internal departments and vendors to resolve queries and maintain the integrity of financial records.

• Oversee the entire AP process including invoice receipt, validation, approvals, and posting into the accounting system. Ensure all invoices are processed in compliance with company policies, contractual terms, and applicable regulations. Monitor workflow efficiency to prevent backlogs and delays in payments.
• Supervise the recording of AP transactions to maintain accuracy in financial records. Ensure all vendor invoices, credit notes, and adjustments are correctly posted and reconciled. Monitor timely transfer of AP entries to the General Ledger to support accurate financial reporting.
• Investigate and resolve discrepancies such as mismatched invoices, missing approvals, or incorrect amounts. Work closely with procurement, operations, and vendors to address queries and ensure smooth processing. Maintain proper documentation for audit trails and compliance.
• Plan and manage payment runs (cheque, bank transfers, online payments, etc.) on a regular schedule. Ensure timely disbursement of vendor payments while optimizing cash flow. Maintain good relationships with vendors by addressing payment issues proactively.
• Standardize and enhance AP processes to improve accuracy and efficiency. Implement internal controls to mitigate risks such as duplicate payments or fraud. Ensure compliance with company policies, tax laws, and regulatory guidelines.
• Prepare AP reconciliations and accruals to support financial closing. Verify completeness and accuracy of all AP balances before reporting deadlines. Collaborate with finance teams to ensure accurate reflection of liabilities in financial statements.
• Provide timely support to business units and operations teams regarding vendor balances, payments, and expense coding. Share insights on AP performance and vendor trends to assist in decision-making. Act as the go-to resource for AP-related financial clarifications.
• Coordinate with auditors by providing required schedules, reconciliations, and documentation. Ensure readiness for periodic internal controls testing and compliance reviews. Address audit findings by implementing corrective actions.
• Maintain professional communication with vendors, banks, and auditors to resolve queries efficiently. Ensure all vendor files are complete, accurate, and compliant with legal and company standards. Build and sustain relationships to foster trust and reliability between the company and its external stakeholders.

• Bachelors Degree in Accounting, Finance, or a related field
• Post Degree Certifications such as CPA, CMA, ACCA or equivalent professional certification
• 5-10 Years of experience in Accounting, with 5 years experience managing a team.
• Hands-on experience with ERP systems (e.g., Oracle, SAP, Yardi, or similar) for invoice posting, payment processing, and reporting.
• Strong grasp of VAT treatment related to supplier invoices, input VAT recovery, and compliance with FTA guidelines.