Eastwood Libis, QC, PH

Accounts Payable and Payroll Associate

The Accounts Payable and Payroll Associate is responsible for managing and overseeing the entire accounts payable and payroll processes. This role ensures the accuracy, integrity, and timeliness of financial transactions, vendor payments, and payroll tasks. The Accounts Payable and Payroll Specialist plays a crucial role in maintaining the financial health of the organization by ensuring all financial obligations and employee compensations are met promptly and accurately.

Responsibilities:

Oversee Data Entry and Ensure Integrity of Accounting System Data:

• Accurately input all invoices and billing information from suppliers and other vendors into the accounting system.
• Regularly verify and cross-check data entries to maintain the accuracy and integrity of the accounting system.
• Maintain organized and up-to-date records of all financial transactions, ensuring that all entries comply with company policies and accounting standards.
• Ensure the accounting system is regularly updated with the latest information and resolve any discrepancies promptly.

Process Supplier Invoices and Prepare Checks for Signature:

• Thoroughly review all supplier invoices for accuracy, proper authorization, and compliance with purchase orders and contracts.
• Follow the established approval workflow for processing invoices, ensuring that each invoice is approved by the relevant department or manager.
• Prepare checks/online transfers for payment, ensuring that all details are correct, and the checks/transfers are ready for signature/approval by authorized personnel.
• Manage and adhere to payment schedules, ensuring that all supplier payments are made timely to avoid any late fees or disruptions in supply.

Make Bank Deposits as Needed:

• Prepare and organize bank deposits, including checks and cash, ensuring that all amounts are accurately accounted for.
• Maintain detailed records of all bank deposits, including date, amount, and source of funds.
• Coordinate with the bank to ensure deposits are made efficiently and any issues are resolved promptly.
• Participate in the Preparation of Monthly and Year-End Financial Reports:
• Assist in the preparation of monthly and year-end financial statements, ensuring that all data is accurate and complete.
• Compile and organize data from various sources to support the financial reporting process.
• Provide necessary documentation and support for internal and external audits, ensuring compliance with regulatory requirements and company policies.
• Participate in variance analysis to identify discrepancies and support management in decision-making.

Reconcile All Bank Accounts:

• Regularly reconcile bank statements with the company's financial records to ensure accuracy.
• Investigate and resolve any discrepancies between bank statements and company records promptly.
• Maintain detailed documentation of all reconciliation processes and adjustments made.
• Ensure that reconciliations are completed in a timely manner to maintain accurate financial records and internal controls.

Release Vendor Checks (as needed):

• Manage the distribution of vendor checks, ensuring that all payments are released according to the payment schedule.
• Keep accurate records of all checks released, including vendor information, payment amount, and date of issuance.
• Communicate with vendors regarding payment status and resolve any issues or inquiries related to check payments.
• Ensure that all check releases comply with company policies and procedures, as well as any relevant regulatory requirements.

Qualifications:

• Bachelor’s degree in Accounting, Finance, or related field preferred.
• Proven experience in accounts payable and payroll processing or a similar financial role.
• Strong understanding of accounting and payroll principles and procedures.
• Proficiency in accounting software and Microsoft Office Suite, particularly Excel.
• Excellent organizational and time-management skills.
• Strong attention to detail and accuracy.
• Effective communication and interpersonal skills.
• Ability to work independently and as part of a team.
• Knowledge of regulatory requirements and compliance related to accounts payable and payroll.

by Carl Trinidad