Accounts Payable Manager

KEY RESPONSIBILITIESACCOUNTS PAYABLE OPERATIONS MANAGEMENTManage the complete accounts payable cycle from invoice receipt to payment disbursementOversee processing of 2000+ construction-related invoices monthly including material suppliers, subcontractors, and service providersEnsure accurate job costing by verifying proper allocation of expenses to respective projects and cost centersReview and approve payment runs (weekly/bi-weekly) ensuring adherence to payment terms and cash flow requirementsManage vendor master data, ensuring accurate vendor setup with proper GST registration verification and Form 16 documentationReconcile vendor statements monthly and resolve discrepancies promptlyPrepare and review aged payables reports and manage outstanding payment schedulesCONSTRUCTION-SPECIFIC PAYABLESProcess and manage subcontractor payments with proper verification of work completion certificatesHandle retention money accounting for subcontractors (typically 5-10% of contract value) and ensure timely release post ­completionProcess Running Account (RA) bills for works contractors ensuring GST complianceCoordinate with project managers for payment approvals based on work progress and completion certificatesManage advance payments to suppliers/contractors and track adjustment against invoicesHandle material procurement payments with proper verification against purchase orders and goods receipt notesGST COMPLIANCE & TAX MANAGEMENTEnsure 100% GST compliance for all construction services and material procurementVerify GST invoices for correctness of GSTIN, HSN/SAC codes, and applicable tax ratesManage input tax credit (ITC) reconciliation and maintain proper documentation for claimsCoordinate GST filings (GSTR-2A/2B reconciliation) with tax teamHandle TDS deductions on contractor/professional payments and coordinate TDS return filingMaintain vendor compliance documents including GST certificates, PAN, and other statutory registrationsEnsure proper accounting of retention money under GST regulationsTEAM LEADERSHIP & SUPERVISIONLead, mentor, and supervise the AP team (2-4 members including AP Assistants)Assign work, monitor workload distribution, and ensure high productivity levelsConduct performance reviews and provide ongoing training and developmentImplement cross-training initiatives for business continuityFoster a collaborative and high-performance team culturePROCESS IMPROVEMENT & CONTROLSDevelop and implement AP policies, procedures, and internal controlsIdentify opportunities for process automation and efficiency improvementsEstablish and monitor KPIs including invoice processing time, error rates, and payment cycle timeEnsure strong internal controls to prevent duplicate payments, fraud, and errorsDrive vendor payment automation and electronic payment initiativesFINANCIAL REPORTING & MONTH-END CLOSELead AP activities during month-end and year-end closing processesPrepare monthly AP aging reports, cash flow forecasts, and payment projectionsRecord accruals for work completed but not yet invoicedCoordinate with project accounting team for proper revenue and cost matchingSupport external and internal audits by providing documentation and explanationsVENDOR & STAKEHOLDER MANAGEMENTBuild and maintain strong relationships with key vendors, subcontractors, and suppliersResolve escalated vendor disputes, payment issues, and invoice discrepancies professionallyNegotiate payment terms and assist procurement with vendor selection when neededServe as primary point of contact for vendor payment inquiriesCollaborate with procurement, project management, and finance teamsBANK GUARANTEE & SECURITY MANAGEMENTTrack bank guarantees issued to clients and received from subcontractorsMonitor expiry dates and coordinate renewals/releasesMaintain register of security deposits, margin money, and fixed deposit linkagesQUALIFICATIONS & REQUIREMENTSEducational QualificationsBachelor's degree in Commerce (B.Com) - MandatoryMBA (Finance) or M.Com – PreferredProfessional qualification (CA Inter/ICWA/CMA) - Highly Preferred Experience RequirementsMinimum 5-8 years of progressive experience in accounts payable functionMandatory: At least 3-5 years of experience in construction industry accounts payableProven experience managing AP teams (2-5 members)Strong understanding of construction accounting including job costing, retention, and RA billsExperience with subcontractor payment management and vendor coordinationTechnical SkillsMandatory: Expert knowledge of GST compliance for construction services (including 1%, 5%, 18% rates)Strong understanding of TDS provisions (Section 194C for contractors, 194J for professionals)Proficiency in ERP systems - SAP experience highly preferred Advanced Microsoft Excel skills (Pivot tables, VLOOKUP, macros)Knowledge of construction-specific terms: RA Bills, retention money, mobilization advances, running billsFamiliarity with percentage-of-completion accounting methodsSoft Skills & CompetenciesStrong leadership and team management abilitiesExcellent analytical and problem-solving skillsHigh attention to detail and accuracyAbility to work under pressure and meet tight deadlinesStrong communication and interpersonal skillsVendor negotiation and relationship management skillsProcess improvement mindset