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Accounts Payable Section Head

Cilantro
Maadi, Cairo

Accounts Payable Section Head

Maadi, CairoPosted 2 months ago
162Applicants for1 open position
  • 105Viewed
  • 26In Consideration
  • 84Not Selected

Job Details

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Job Description

Job Purpose

The Accounts Payable Section Head is responsible for managing all aspects of the accounts payable function, ensuring accurate and timely processing of payments to trade and non-trade vendors. The role includes maintaining compliance with IFRS 16 ROU Lease standards, overseeing vendor relationships, managing accrued expenses, handling fixed assets on the register and control, managing prepaid expenses, and ensuring proper handling of petty cash and custody payments.

Key Responsibilities:

  1. Vendor Relationship Management:
    • Maintain strong relationships with both trade and non-trade vendors.
    • Ensure timely payment processing and resolution of any vendor disputes.
    • Negotiate terms and agreements with vendors to optimize costs and improve service.
  2. IFRS 16 ROU Lease Compliance:
    • Ensure all leases are accounted for in accordance with IFRS 16 standards.
    • Maintain accurate records of Right of Use (ROU) assets and related liabilities.
  3. Accrued Expenses Management:
    • Oversee the accurate recording and reporting of accrued expenses.
    • Ensure all financial obligations are reflected in the company’s financial statements.
  4. Prepaid Expense Management:
    • Manage and monitor prepaid expenses, ensuring accurate recording and timely amortization.
    • Reconcile prepaid expense accounts and ensure that all prepaid expenses are correctly allocated to the appropriate periods.
  5. Custody Payment Supervision:
    • Manage the custody payment processes, ensuring secure and efficient handling of all transactions.
    • Implement and enforce internal controls to safeguard company funds.
  6. Petty Cash Management:
    • Oversee the petty cash system, ensuring proper documentation and reconciliation of all expenditures.
  7. Fixed Asset Register and Control:
    • Maintain and update the fixed asset register, ensuring all assets are accurately recorded.
    • Monitor and control the acquisition, depreciation, and disposal of fixed assets.
    • Ensure compliance with relevant accounting standards and internal policies related to fixed assets.
    • Conduct periodic physical verification of fixed assets and reconcile with the register.
  8. Tax Compliance:
    • Ensure compliance with Withholding Tax (WHT) regulations, including accurate calculation and timely submission of tax payments.
    • Stay updated on relevant tax laws and regulations to ensure the company’s compliance.
  9. Process Improvement:
    • Continuously evaluate and enhance accounts payable processes for greater efficiency and accuracy.
    • Implement best practices and leverage technology to streamline operations.

Job Requirements

Qualifications and Skills

  • Education: Bachelor’s degree in Accounting, Finance, or related field.
  • Certifications: Relevant certifications in Accounting/Finance (CMA , IFRS)
  • Experience: Minimum 8 years of experience in accounts payable, with a strong background in vendor management, financial compliance, and fixed asset management. Minimum of 3 years of experience in a leadership role.
  • Skills:
    • In-depth knowledge of IFRS 16 ROU Lease.
    • Strong understanding of WHT tax and other relevant tax regulations.
    • Proficiency in fixed asset management and control.
    • Excellent vendor relationship management skills.
    • Proficiency in accounting software
    • Strong analytical and problem-solving skills.
    • Attention to detail and strong organizational skills.

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