Assistant Manager Accounts Payable

About the Role

Maxima Apparel is hiring an Assistant Manager – Accounts Payable for its Finance & Accounts team in Gurugram. You will own the end-to-end AP cycle for domestic and international vendors — from vendor onboarding and invoice booking through payment, bank reconciliation, statutory compliance and month-end closure. You are responsible for the accuracy of the AP ledger, timely vendor and payroll payouts, and the AP MIS pack that supports treasury and management decisions.

Position: Assistant Manager – Accounts Payable

Function: Finance & Accounts (Accounts Payable / Controllership)

Reports to: Manager – Accounts Payable / Finance Controller

Location: Gurugram (on-site)

Experience: 3–6 years in Accounts Payable, preferably in apparel / retail or a multi-entity international setup

Qualification: B.Com / M.Com / MBA (Finance); CA Inter / CMA Inter preferred

Employment type: Full-time

Timing: US working hours

Key Responsibilities

Bank Reconciliation

• Prepare and review daily / weekly / monthly BRS for all domestic and overseas bank accounts (current, EEFC, collection).
• Match bank entries against books, clear reconciling items within ageing norms, and resolve long-outstanding items (stale cheques, un-credited receipts, bank charges, interest, FX differences).
• Maintain bank balance and fund-position tracking for daily treasury and payment planning; certify month-end reconciliations for auditors.

International AP Booking, Bank Booking & Tax Compliance

• Book overseas vendor invoices (raw material, trims, freight, agency, professional and IT services) with correct GL, cost centre, entity and currency mapping.
• Apply correct exchange rates at booking, payment and period end; account for realised / unrealised FX gains and losses, remittances, bank charges, interest and forward contracts.
• Ensure TDS / TCS deduction and deposit, withholding tax on foreign payments and review of tax residency certificates.
• Support GST compliance on payables — RCM on import of services, GSTR-2B vs books reconciliation, ITC eligibility review and vendor follow-up.
• Assist with TDS, GST and other statutory returns and respond to notices relating to payables.

Monthly Closure & Accrual Booking

• Drive AP activities on the month-end close calendar within agreed timelines.
• Book provisions and accruals (GRNI, services not billed, freight, job work, utilities, professional fees, rent) and maintain an accrual tracker with reversal review.
• Prepare AP schedules — vendor ledger, vendor advances, GRNI, employee reimbursements, prepaid expenses — and reconcile the AP sub-ledger to GL.
• Run vendor balance confirmations; clear debit balances and old credit balances; close audit observations relating to AP.

AP MIS & Ageing Reporting

• Prepare and circulate the AP MIS pack — creditors ageing, GRNI ageing, advance ageing, debit balance analysis and open PO / invoice pipeline.
• Report spend analytics by vendor, category, cost centre and entity with variance commentary.
• Track AP KPIs — DPO, invoice booking TAT, on-time payment %, unbooked invoices, hold / rejection analysis.
• Prepare the outflow forecast and payment plan for cash-flow projections; automate recurring reports via advanced Excel (pivots, lookups, Power Query) and ERP report builders.

Weekly Vendor Payout & Payout Ageing

• Run the weekly vendor payment cycle — payout proposal based on due dates, credit terms, ageing and approved priority; circulate for management approval.
• Validate payment runs for three-way match, duplicates, TDS, advance adjustment and bank detail accuracy before uploading to the banking portal.
• Release payments via NEFT / RTGS / cheque / wire and ensure timely accounting and vendor acknowledgement.
• Manage the vendor helpdesk — payment queries, payment advice, TDS certificates and dispute resolution with commercial and procurement teams.

Vendor Onboarding & Master Data Management

• Manage vendor onboarding — registration form, bank details and cancelled cheque, and W-8 / W-9 / tax forms for overseas vendors; validate details before code creation.
• Create, update and deactivate vendor master records in the ERP with correct payment terms, currency, tax codes, TDS sections and GL defaults.
• Enforce maker-checker discipline, documented approvals and a full change-log audit trail, especially for bank-detail changes.
• Run periodic vendor master hygiene reviews; track MSME vendors and statutory payment timelines.

Weekly / Monthly Payroll Payout

• Coordinate with HR / payroll to validate payroll registers for weekly (contract / wage) and monthly (staff) cycles; verify headcount, net pay, bank details and control totals.
• Execute payroll disbursement through the banking portal within committed pay dates; handle failed credits.
• Book payroll journal entries and reconcile the payroll ledger to GL; ensure timely payment of PF, ESIC, PT and TDS on salary.
• Process employee reimbursements, travel advances and full-and-final settlements; maintain strict confidentiality of payroll data.

Controls & Process Governance

• Operate AP in line with the delegation-of-authority matrix and SOPs; maintain audit-ready documentation for all bookings, payments and master data changes.
• Identify process gaps and drive automation and control improvements in invoice processing, approvals and payment release.

Skills & Competencies

• Strong working knowledge of AP accounting, bank reconciliation and month-end close.
• Practical exposure to foreign remittance compliance.
• Hands-on ERP experience — SAP / Oracle / Microsoft Dynamics / Tally Prime; AP automation tools an advantage.
• Advanced MS Excel — pivot tables, lookups, Power Query, large-data reconciliation and MIS modelling.
• Understanding of multi-entity, multi-currency accounting and intercompany transactions.
• High accuracy, strong ownership of timelines, and ability to work to a fixed close and payout calendar under pressure.
• Clear communication with vendors, bankers, auditors, procurement and HR; integrity and discretion with payment and payroll data.
• Process-improvement mindset with a bias for automation and standardisation.

Key Performance Indicators

• All bank accounts reconciled daily / weekly; no unexplained item beyond 30 days.
• AP schedules and accruals completed within the close calendar.
• Invoices booked within agreed TAT; weekly payout released per approved schedule.
• 100% on-time, error-free payroll credit every cycle.
• Nil delay / interest on TDS, GST and foreign remittance filings.
• Zero unauthorised vendor master changes; MIS pack circulated on the agreed date each cycle.

Key Interfaces

Internal: Procurement & Sourcing, Commercial / Import, Stores & Warehouse, HR & Payroll, Treasury, Taxation, Internal Audit, Business Finance.

External: Domestic and overseas vendors, bankers, statutory and internal auditors, tax consultants.