Accounts Payable Specialist

Job Description:

The Accounts Payable Specialist is responsible for processing vendor invoices, posting relevant expenses onto the ERP system, ensuring payment deadlines are met, processing payments through online banking portals, and maintaining the accuracy and integrity of financial records. The role also includes the creation, submission, and monitoring of BIR-related documents such as 2307 withholding tax certificates. This position requires excellent organizational skills, attention to detail, and the ability to collaborate with the finance team and external vendors.

Key Roles and Responsibilities

Invoice Processing and Posting:

• Receive, verify, and process vendor invoices, ensuring accuracy in quantities, amounts, and terms.

• Coordinate with relevant departments for invoice approval and resolution of any discrepancies.

• Accurately record and post invoices in the ERP system.

• Monitor accruals and ensure timely booking of expenses.

Payment Processing:

• Schedule and prioritize payments based on due dates and ensure timely payment to suppliers.

• Prepare payment vouchers for approval by management.

• Process transactions as the maker in the online banking portal, ensuring compliance with internal approval workflows.

• Maintain organized records of all processed payments and ensure all supporting documentation is complete.

Vendor Management:

• Communicate with vendors regarding payment status and resolve any payment-related issues.

• Maintain updated vendor profiles, payment terms, and banking details within the system.

• Prepare vendor account reconciliations and resolve any discrepancies.

Expense Reporting and Reconciliation:

• Ensure proper coding of expenses in line with the company's chart of accounts.

• Assist in monthly closing activities by reconciling accounts payable-related accounts.

• Prepare and assist in the reconciliation of supplier statements of account.

• Assist in monitoring outstanding liabilities and aged accounts payable reports.

Compliance and Controls:

• Ensure adherence to internal controls, company policies, and accounting procedures.

• Prepare audit schedules related to accounts payable and assist auditors as necessary.

• Monitor compliance with tax regulations related to vendor payments (e.g., VAT, withholding taxes).

BIR Document Preparation and Submission:

• Prepare and submit necessary BIR documents such as Form 2307 for withholding tax certificates.

• Ensure correct withholding tax deductions for vendors and timely issuance of 2307 certificates.

• Monitor submission deadlines and ensure compliance with BIR requirements for withholding taxes and other relevant filings.

Online Banking Transactions:

• Act as the maker for transactions in the online banking system, ensuring accuracy in bank details, payment amounts, and vendor information.

• Coordinate with the bank for any transaction issues or system updates.

Reporting:

• Generate reports for outstanding payables, payment run summaries, vendor aging, and tax-related submissions as required by management.

• Provide monthly reports on accounts payable performance, identifying trends and areas for improvement.

Other Duties:

• Support the Head of Accounting in any other ad-hoc tasks or projects as assigned.

• Assist in implementing process improvements to enhance efficiency in accounts payable processing.

Qualifications:

• Bachelor's degree in Accounting, Finance, Business Administration, or a related field.

• At least 2-3 years of experience in accounts payable or a similar role.

• Proficiency with ERP systems (experience with MS365 Business Central preferred).

• Experience using online banking platforms for transaction processing.

• Strong understanding of basic accounting principles and accounts payable procedures.

• Experience in preparing and submitting BIR forms, particularly Form 2307 withholding tax certificates.

• Excellent attention to detail and accuracy.

• Ability to manage multiple priorities and meet deadlines.

• Good communication skills and ability to work with internal and external stakeholders.

• Proficiency in Microsoft Office, especially Excel.

Competencies:

• Detail-Oriented: Ensures accuracy in processing financial transactions and tax submissions.

• Time Management: Prioritizes tasks effectively to meet payment deadlines and BIR filing schedules.

• Problem Solving: Identifies and resolves discrepancies in invoices, payments, and tax filings.

• Collaboration: Works well within a team and coordinates effectively with vendors, the BIR, and colleagues.

• Integrity: Upholds the highest standards of financial integrity, confidentiality, and compliance with tax regulations.

Working Conditions:

• Based in the company's office with occasional remote work as needed.

• Regular working hours, with the flexibility to meet deadlines when required.