Job Purpose
- This role will be accountable for managing the end to end accounts payable process together with effectively managing a team of Accounts Payable supervisors and administrators, in order to meet agreed financial goals.
- The role will be reporting directly to the Head of Shared Services
Key Accountabilities and Outputs
- Manage the following Accounts Payable Processes:
- Manage the entire Accounts Payable function from procurement phase up until payment phase.
- Ensure that AP linking is done timely by the AP team and that 3 way matches are done for every transaction (PO/GRV/AP Invoice).
- Ensure that Supplier statements are obtained timely on a monthly basis.
- Ensure that monthly Supplier Reconciliations are done timely for every supplier and that all reconciliations are appropriately reviewed.
- Ensure that all supplier accounts are up to date and liaise with other departments where necessary to make sure that costs are brought in timely.
- Ensure that all Suppliers are paid as per supplier terms.
- Detailed Review and approval of the daily payments file.
- Ensure that payments are loaded on the banking profile correctly and that all appropriate checks are done to validate payment amounts and banking details.
- Ensure that remittances and proof of payments are sent timely to suppliers.
- Prepare the monthly payments forecast.
- Ensure that supplier credit limits are not exceeded at any given time.
- Able to perform advanced Excel formula’s for reporting purposes.
- Able to present financial information to Senior Management.
- Ensuring that the Accounts Payable department adheres to all company policies and procedures.
- Ensuring that the Accounts Payable department adheres to all statutory requirements, especially monitoring of correct VAT treatments.
- Provide oversight, guidance and coaching to all Accounts Payable team members.
- Ensuring that all team members in the Accounts Payable department are performing their tasks efficiently, effectively and accurately at all times.
- Maintaining sustainable supplier relationships and ensuring that all supplier queries and matters are dealt with appropriately and timely.
- Assist in resolving internal queries and maintaining relationships with other departments in the company.
- To work closely together with the Procurement department to drive continuous improvement on creditor days.
- Meeting cashflow targets and working capital targets on a monthly basis.
- Provide detailed analysis on monthly accounts payable performance as well as commentary on the movement of the age analysis.
- To perform a reconciliation between the monthly age analysis and the General Ledger.
- Assist the external auditors with all their audit requirements.
- Help identify gaps and opportunities for Accounts Payable process optimization including improving on current SOP’s.
- Track and monitor performance of Accounts Payable processes against KPIs and implement corrective actions where necessary.
- Ensure that the agreed time tables for the Accounts Payable department (month-end and year-end) are timeously adhered to.
- Oversight over cost control and to take the necessary action to mitigate any financial or statutory risks.
- Perform ad-hoc tasks that are requested by the Head of Shared Services or CFO.
General:
- While Job Descriptions are written up for the purpose of a basic outline of the work and responsibilities associated with the Job, the Company encourages and expects all employees from time to time, to assist with work that may not be a direct part of their job description.