Finance Payable Executive @IMV

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• Change Management – Generates activity and seeks new challenges to improve work performance; Demonstrate an optimistic outlook and recovers quickly from failure.
• Commercial Awareness – Shows awareness of markets and ensures up-to-date knowledge of competitive environment; Demonstrates an awareness of new business opportunities and seizes and acts upon them; Is aware of financial issues such as revenue enhancement, costs, profits / losses cash flow etc; Identifies opportunities to ensure sustainable profit growth is achieved through implementing cost-effective methods.
• Decision Making – Makes sound decisions quickly under pressure; Takes calculated risks based on adequate information and analysis; Makes a rational, balanced judgments on the basis of available information.
• Organisation Savvy – Maintains awareness of organizational structure and goals; Accurately identifies and effectively presents the key points of an argument; Promotes ideas; Establishes links with people within and outside the business and uses this network for the organisation’s advantage.
• Problem Solving – Reconciles conflict and probes for information for more in-depth relevant information for decision-making; Analyses numerical data and relevant sources of information in order to draw appropriate conclusions and check facts to establish causes and effects; Produces new ideas and a rang of solutions to meet the demands of the situation.
• Strategic Orientation – Selects the most appropriate tactic(s) from a range of alternatives and conveys the plan to others; Sets organizational strategy in line with organizational vision and uses multiple, relevant resources to achieve objectives; Negotiates with a variety of approaches.

Main Duties and Scope of Role:

To supervise and contribute in the functions of Accounts Payable within the Accounting Department at ibis Mumbai Vikhroli, ibis Navi Mumbai, ensuring that all accounting transactions covering various activities of the hotel are properly and accurately recorded in accordance with Accor’s Policies & Procedures and local regulations.

• To provide an effective system to track Accounts Payable for effective Cash Flow management
• To provide a summary of the vendors ageing report on a monthly basis.
• To audit price and quantity variances as per daily Receiving Variance Report.
• To prepare monthly accruals for goods and services received, but not invoiced.
• To prepare month‑end closing journal entries and schedules for Accounts Payable.
• To handle payroll management as directed by FC’s.

General  Ledger /M.I.S.

• To maintain and record all general ledger accounts.
• To prepare monthly journal entries.
• To prepare and maintain schedules and analyses for all accounts.
• To assist the FC’s in all stages leading to the preparation of all monthly financial reports and analyses.
• To assist in the preparation of Returns and special statistical reports as assigned by the FC’s.
• To assist in the compilation of departmental budgets, forecasts and business plan.
• To assist in implementing and streamlining the internal control procedures covering all activities of the hotel.

General

• To know and observe the credit policies of Accor to assist in establishing and compiling clear and well-defined credit procedures for all positions in a formal Credit Manual.
• To understand and strictly adhere to the Rules & Regulations established in the Employees Handbook and the Hotel’s policy on Fire, Hygiene, Health and Safety.
• To report for duty punctually wearing the correct uniform at all times.
• To maintain a high standard of personal appearance and hygiene at all times.
• To maintain a good rapport and working relationship with staff in the outlet and all other departments.
• To attend and contribute to all staff meetings Departmental and Hotel Training as scheduled and other related activities.
• To fully support the Departmental Training Function in the Department assigned.
• To undertake any reasonable tasks and secondary duties as assigned by the Asst Director of Finance.
• To respond to any changes in the Accounting & Finance function as dictated by the hotel..
• To project at all times a positive and motivated attitude and exercise self control.
• To handle guest and employee inquiries in a courteous and efficient manner and report guest complaints or problems to supervisors if no immediate solution can be found and assure follow up with guests.
• To be discreet and keep observations confidential and report to the Manager-Finance.
• To ensure that the Place of Work and surrounding area is kept clean and organized at all times.
• The Finance Team Leader has to share a schedule to the FC's of the properties in advance for visits. The number of visits will be between 4-6 visits in initial period . Based on simulation for 2-3 months, the fixed no of visits will be provided.

Accounts Payable Work Processes:

Daily work ( 2 hrs – max 3 hrs a day )

Recording of material purchases goods received and payable

Booking of Services Invoices.

As and When ( 1 hour max in a month)

Vendor Creation form and Master file updating.

Debit Note booking

Expense Claim File

Foreign remittances and due diligence

Any other work as and when decided

Taxation ( 1 day in a month)

GSTR3B & GSTR- 2A Reco

Weekly Schedule ( twice – 9 hrs )

Petty Cash Replenishment

Payment Processing

Beneficiary Code upload in banks

Payment Backup

Payment uploads

Bank Reconciliation - reviewed and entries to be cleared weekly

Statutory Working & Challan payments – as per due-dates

Energy payments – as per due-dates

Quarterly( can be done monthly)

Statutory Audit Schedules – Most workings are completed with monthly Asset & Liability reconciliations

MSME Declaration

Foreign Remittances working

Yearly once

Tax Audit Schedules

Budget - Upload Files, Extraction sheet & Final Budget Excel

Month End

Salary Upload Sheet Includes :

Salary Entry, GM  Salary, Variable & Statutory Bonus Entry for employees & contractors, Leave & gratuity accruals.

Entries :

Accruals & Consumption – mails, back-ups & entries

Inventory reconciliation ( Covers & Soft Beverage transfer) - nullified

Covers update

Provision for bad-debts

Management Fees, FF&E entry

MIS Finalization & EOM upload

Close period before leaving

Asset and Liabilities reconciliation :

Creditors Aging, Advance to Supplier, Prepaid , Security Deposits, Inter-unit balances, Capex checking.

Monthly reports:

FF&E Working, AAPC Invoices & Working, Rent Working if any

Data for Analysis ( AP, AR Ageing, Fixed Cost, Cash-flow, Marketing Provision, COVID related expenses)

Mail for Contract renewals