Job
Description
Job Summary:
The Financial Analyst - Accounts Payable will play a crucial role in ensuring the accuracy and efficiency of indirect cost processing and analysis. This position is responsible for supporting month-end close activities, performing detailed cost analysis, and collaborating with various internal and external stakeholders. The ideal candidate will possess a solid understanding of accounting principles, strong analytical capabilities, and excellent communication skills to contribute to robust financial reporting and cost control. Key Responsibilities:
Accounts Payable Operations & Month-End Support
Assist in the timely and accurate processing of vendor invoices, focusing on indirect costs.
Support the month-end close process by preparing and validating accruals and prepaid expenses related to indirect costs.
Conduct initial reviews of indirect cost provisions to ensure appropriate accounting treatment.
Reconcile indirect cost accounts, identifying and resolving any discrepancies or unexplained variances.
Ensure all necessary documentation for indirect cost transactions is complete and accurately recorded.
Cost Analysis & Reporting
Perform detailed analysis of indirect costs across various entities and cost centers.
Identify key cost drivers, trends, and variances, providing insights to support financial decision-making.
Support the FP&A team with data and analysis for budgeting and forecasting indirect costs.
Contribute to the preparation of regular cost reports, highlighting areas for potential savings or efficiency improvements.
Assist in revenue analysis as needed, providing comprehensive financial insights.
Stakeholder Coordination & Query Resolution
Act as a key point of contact for internal teams (finance, procurement, business units) and external vendors regarding indirect cost inquiries.
Collaborate with stakeholders to gather necessary supporting documents for accruals, cost allocations, and invoice processing.
Address and resolve invoice discrepancies, payment issues, and contract-related clarifications with vendors.
Assist in providing documentation and explanations during statutory, tax, and internal audits.
Compliance & Process Adherence
Ensure all Accounts Payable activities adhere to company policies, accounting standards, and regulatory requirements, including GST (Goods and Services Tax) and TDS (Tax Deducted at Source) regulations.
Identify and suggest potential improvements for Accounts Payable processes to enhance efficiency and accuracy.
Support initiatives aimed at streamlining invoice processing and indirect cost tracking.
Qualifications
Chartered Accountant (CA) qualification with 1-2 years of post-qualification experience in Accounts Payable, Cost Accounting, or Financial Reporting.
OR a Non-CA qualification with 5-10 years of progressive experience in Accounts Payable, Cost Accounting, or Financial Reporting.
Proven experience in accrual accounting and prepaid accounting is a must.
Prior experience in cost analysis or revenue analysis is essential.
Familiarity with vendor invoice validation processes.
Technical Skills
Strong understanding of accrual accounting principles , indirect cost allocations, and financial reporting.
Solid knowledge of GST and TDS regulations and their application in Accounts Payable.
Proficiency in ERP systems (e.g., Dynamics 365, Oracle, SAP, or similar financial modules).
Advanced MS Excel skills for data analysis, reporting, and reconciliation are a must.
Familiarity with data visualization tools like Power BI is a plus.
PhonePe Full Time Employee Benefits (Not applicable for Intern or Contract Roles)
Insurance Benefits - Medical Insurance, Critical Illness Insurance, Accidental Insurance, Life Insurance Wellness Program - Employee Assistance Program, Onsite Medical Center, Emergency Support System Parental Support - Maternity Benefit, Paternity Benefit Program, Adoption Assistance Program, Day-care Support Program Mobility Benefits - Relocation benefits, Transfer Support Policy, Travel Policy Retirement Benefits - Employee PF Contribution, Flexible PF Contribution, Gratuity, NPS, Leave Encashment Other Benefits - Higher Education Assistance, Car Lease, Salary Advance Policy
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