Accounts Payable Specialist, Batangas

Description

1. Accounts Payable Voucher (APV) Creation

Invoice Verification: Verify and process all supplier invoices, ensuring they align with purchase orders and goods received. This involves detailed checking to avoid discrepancies between what is ordered, delivered, and invoiced.
Tax Compliance: Apply appropriate tax treatments (e.g., VAT, EWT) to each invoice and ensure that these taxes are properly accounted for in financial records.
Account Posting: Ensure that invoices are accurately recorded in the correct vendor, expense, or asset accounts.

2. Issue Resolution

Internal Coordination: Work closely with internal departments such as procurement, plant operations, and treasury to resolve any issues related to payables (e.g., discrepancies in goods received or incorrect pricing).
Supplier Communication: Liaise with external suppliers to resolve invoice disputes, payment delays, and other payable-related concerns.

3. Payment Processing

Submission to Treasury: Prepare and submit a comprehensive list of payables to the Treasury department for timely payment processing.
Payment Follow-up: Monitor the payment schedule to ensure that vendors are paid on time, maintaining strong relationships with key suppliers.

4. Reconciliations

Vendor Reconciliation: Regularly reconcile vendor statements against the companys accounts to identify any discrepancies and ensure that all accounts payable balances are accurate.
Bank Reconciliation: Reconcile the companys bank accounts, ensuring that all cash outflows related to accounts payable are correctly reflected in the companys financial records.

5. Employee and Petty Cash Processing

Reimbursements: Process employee reimbursements for business expenses, ensuring all claims are verified and approved before payment.
Cash Advances: Monitor and process employee cash advances, ensuring proper accountability and timely settlement of advances.
Petty Cash Fund (PCF) Management: Replenish petty cash funds as needed, keeping accurate records of petty cash disbursements.

6. Payroll and Government Remittances

Payroll Posting: Ensure payroll is accurately booked in the companys financial system, including recording salary expenses, deductions, and remittances.
Government Reporting: Handle government remittances such as Social Security System (SSS), PhilHealth, Pag-IBIG, and other statutory deductions to ensure compliance with local regulations.

7. Intercompany Transactions

Record Intercompany Entries: Record intercompany transactions with related parties, ensuring that these are accurately reflected in both companies books.
Reconcile Intercompany Accounts: Regularly reconcile intercompany balances and ensure all necessary adjustments are made to keep records aligned.

8. Documentation

File Maintenance: Maintain a systematic and organized filing system for all accounts payable documents, such as invoices, purchase orders, and payment confirmations.
Audit Preparation: Ensure that all documentation is readily available and complete for internal and external audits.

9. Other Duties