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.

Work arrangement
No