Accounts Payable Officer

1. POSITION DETAILS

1. MANDATE

The Project is to be undertaken in compliance with Malawi national legislation and Good International Industry Practice including (IFC PS, WB ESF, AfDB, Equator Principles 4 and IFRS accounting standards).

The Payables Accountant is responsible for managing the company’s accounts payable (AP) process, ensuring that all incoming invoices are accurately processed, approved, and paid in a timely manner. This role plays a critical part in maintaining healthy relationships with suppliers and vendors, while also ensuring that the company’s financial records are accurate and up-to-date. The Accounts Payable Officer works closely with other departments, such as procurement, finance, and operations, to ensure the smooth and efficient processing of payments.

1. CORE RESPONSIBILITIES

• Receive, review, and verify incoming invoices for accuracy, ensuring that all necessary documentation (such as purchase orders, contracts, and delivery receipts) is provided.
• Ensure invoices are properly coded to the appropriate accounts and cost centers.
• Enter invoices into the accounting system in a timely and accurate manner.
• Resolve discrepancies in invoices, working with vendors, procurement, and internal teams as necessary.

Payment Processing:

• Prepare and process payment runs, ensuring that payments are made within agreed terms.
• Monitor payment due dates to ensure payments are made on time and in compliance with company policies.
• Prepare and reconcile payment batches, ensuring that payment amounts and vendor details are accurate.
• Process employee expense reimbursements in accordance with company policy.

Account Reconciliation

• Reconcile accounts payable ledger with the general ledger, ensuring that all transactions are recorded accurately.
• Perform Monthly Bank accounts reconciliations
• Perform monthly reconciliation of accounts payable to ensure that all transactions are properly accounted for and discrepancies are resolved.
• Assist in the preparation of monthly financial reports, providing accounts payable details as required.

Compliance and Documentation:

• Ensure compliance with internal controls and company policies regarding procurement, invoicing, and payment processes.
• Ensure all payment documentation (e.g., invoices, receipts, payment authorizations) is properly filed and accessible for future reference or audits.
• Assist with external audits by providing supporting documentation and answering any questions regarding accounts payable transactions.

Financial Reporting:

• Assist with the preparation of accounts payable reports, including aging reports, payment schedules, and accruals.
• Provide regular updates on the status of outstanding invoices and payments to management and other relevant departments.
• Monitor and report on cash flow related to accounts payable to ensure adequate funds are available for upcoming payments.

Process Improvement:

• Identify opportunities to streamline and improve the accounts payable process, aiming for efficiency and accuracy.
• Implement best practices to reduce the number of errors and delays in the accounts payable function.
• Stay up-to-date with changes in accounting regulations and industry standards to ensure compliance.

Vendor and Supplier Management:

• Maintain positive relationships with vendors and suppliers, addressing any concerns or queries regarding payment status, invoice discrepancies, or other issues.
• Ensure that vendor information in the system is kept up-to-date, including payment terms and contact details.
• Provide vendors with information regarding payment schedules and outstanding balances as requested.

1. CRITICAL INTERFACES

• The Payables Accountant will work closely with the Management Accountant, Financial Accountant and Procurement and Permitting Coordinator to provide integrated Administration, procurement and financial processes, accurate and insightful financial information
• The Payables Accountant will have a key interface role across the organisation supporting good financial control, guiding on efficient use of company resources and robust evidence for all costs

• Degree in Accounting or equivalent in one or more of the following disciplines: Business Financial Control , procurement, or other relevant discipline or qualified by experience
• Minimum of 4 years of experience with accounting software (e.g., Sage 300 ERP)
• ACCA of CIMA part qualified advantageous
• Very good knowledge of legislation related to accounting, tax, road authority and other relevant regulations
• Working in a multi-cultural context and on large infrastructure projects
• Proven experience with Financial Systems and the Microsoft Suite of tools (Advanced Excel, Intermediate Outlook, Powerpoint, Outlook and Word). Knowledge of SAGE or other accounting systems an advantage
• Excellent English report-writing skills.
• Fluent in written and spoken English and Chichewa.

• Work independently and as part of a team to meet deliverables on time and to high quality
• Attention to detail to produce accurate reports and maintain supporting documents in an easy to access structure
• Capacity to communicate, coordinate, facilitate and negotiate with different departments.
• Knowledge of the good Labour practices and principles
• Problem solving, decision making and conflict resolution skills
• Monitoring and evaluation capabilities to improve processes
• Project skills, including planning, coordinating, budgeting, scheduling, and tracking.
• Proven experience with IT tools and digital platforms including financial systems.
• Excellent reporting and presentation skills.

• Demonstrated high level of interpersonal and communication skills.
• Hard-working, proactive, and self-motivated.
• Personal and professional integrity and commitment to ethical business practices.
• Ability to work under pressure and be solution oriented.
• Excellent communication, collaboration, and teamwork skills.
• High social and intercultural competence.