Key Purpose of the Job (Position Summary)

The position is responsible for managing and providing direction to Accounts Payable department (including O/S units). This includes ensuring overall compliance to all statutory norms, timely payments to all vendors’ suppliers and employees etc. The role is also responsible to forecast payment patterns and make arrangements for necessary funds utilizing appropriate accounting control procedures and ensure all payments are in compliance with the organisation policy, government regulations and taxation laws.

KEYPERFORMANCE AREAS

• Accurate and Timely operations of accounts payable function
• Adherence to Statutory Compliance
• Timely preparation monthly financial statements
• Accurate and Timely preparation of MIS reports
• Accurate and Timely preparation for AGM

KEY ACTIVITIES  & RESPONSIBILITIES

Accounts Payable Operations

• Ensure smooth operation of the routine accounting functions at Ceat
• Oversee Bank reconciliation activities for all bank accounts
• Ensure accurate uploading and subsequent authorization of various e-net payment
• Ensure timely payments to creditors, vendors, suppliers and employees
• Periodically audit the paperwork and SAP entries to ensure accurate and timely data and reporting – including purchase orders and Invoices raised to clients
• Manage payments of imports including custom payments, CHA, freight, warehousing etc & ensure compliance with international laws and taxation systems
• Ensure that management staff salary payments are executed efficiently considering all employee reimbursement payments, loan deductions etc. in compliance to the company policy
• Ensure that all statutory payments for management staff towards ESIC, PF, Superannuation and IT are executed accurately and as per scheduled timelines
• Ensure issuance of payment cheque based on the validation of the Purchase general vouchers
• Ensure availability of forex and ensure all foreign payments with respect to travel, consultancy fees, agent commissions are executed as per company guidelines
• Reconciliations in payments is made in an efficient and accurate manner
• Ensure smooth and timely processing of employee salary with accurate Calculations of increment, arrears, bonus etc.
• Calculation of Tax liability of individual employees/in consideration with various rebate /exemption u/s 80CC, 80 DD etc. 24 (1) as provided in income tax act, superannuation balance and leave calculation

AP Documentation and Analysis

• Analyze expenditure trends and the variances
• Ensure maintenance the Voucher Registers and all the monthly vouchers properly
• Interact with internal and external auditors in completing audits
• Highlight areas of concern such as cost overruns, improper inventory management that are evident from accounting reports for the operations team to take corrective action
• Support other departments in case of any queries/ requests for accounting operations
• Prepare necessary documentation and reports that are required by the board during the AGM

People Management

• Manage performance of the team and ensure that team is working in line with organizational value system
• Ensure team is adequately trained and proactively work  with HR at capability enhancement of team
• Conduct effective performance appraisals for the team and provide regular feedback