Payable Accounting

Accounts Payable:
• Process and reconcile vendor invoices, ensuring accuracy and compliance with company policies & Tax regulation.
• Maintain and update vendor master files, ensuring all information is current and accurate.
• Issue payments to vendors promptly, adhering to agreed-upon payment terms and resolving any discrepancies.
• Conduct regular reconciliations of accounts payable balances and prepare monthly reports for management review.
• Collaborate with internal departments to resolve invoice discrepancies and ensure timely resolution of payment issues.
• Assist in the preparation of financial statements and support the annual audit process by providing necessary documentation related to accounts payable.
Expense Recording:
• Record all expense-related transactions in the general ledger, ensuring accuracy and proper classification.
• Reconcile expense accounts monthly, identifying and resolving any discrepancies or variances.
• Prepare and analyze expense reports, providing insights to support budgeting and financial planning.
Monthly Closing:
• Support the monthly closing process by ensuring all accounts payable transactions are recorded and reconciled accurately.
• Prepare journal entries related to accounts payable and expenses, ensuring timely posting before the month-end deadline.
• Assist in the preparation of financial statements, including balance sheets, income statements, and cash flow statements.
• Collaborate with other accounting and finance team members to ensure a smooth and accurate monthly close process.
Tax Accounting (Focus on Import Duties):
• Prepare and remit payments for import duties, ensuring compliance with applicable regulations and timely remittance to relevant authorities.
• Reconcile import duty accounts monthly, identifying discrepancies and resolving any issues promptly.
• Generate detailed reports on import duties, including payment summaries, reconciliation results, and compliance status.
• Conduct analysis of import duty processes to identify opportunities for cost savings, efficiency improvements, and compliance optimization.
• Work with external auditors and tax consultants to address any import duty-related inquiries or issues.
• Maintain accurate records of all import duty-related documents, ensuring proper documentation for audit purposes.