MAIN SCOPE AND PURPOSE:
The main scope of an AP accountant in hostels involves handling invoices, managing payments, maintaining vendor relationships, ensuring compliance, and optimizing processes. Their purpose is to maintain financial accuracy, manage cash flow effectively, build strong vendor relationships, ensure compliance, enhance efficiency, and control costs for the hostel&039;s financial well- being.
Building strong relationships of leadership internally and with suppliers by ensuring Mad Monkey core values; Curiosity, Positivity, Courage, Sincerity and Family Spirit have visibility within the business.
MAIN DUTIES AND RESPONSIBILITIES:
Vendor Relations: AP accountants liaise with vendors, addressing payment inquiries, resolving discrepancies, and maintaining positive relationships to ensure smooth transactions.
Process Improvement: AP accountants identify inefficiencies in the payment process and propose improvements to streamline procedures, reduce costs, and enhance accuracy.
Compliance and Reporting: AP accountants ensure compliance with tax regulations and financial reporting requirements. They prepare reports detailing payment schedules, outstanding balances, and financial obligations.
Invoice Processing: AP accountants handle the processing of invoices received from suppliers, ensuring accuracy and compliance with the hostel&039;s policies and procedures.
Others: other tasks assigned by the line manager.
Month- end closing: in charge to reconcile account codes related to expenses, or balance sheet accounts that belong to AP
Payment Management: Manage payment processes, including scheduling payments, preparing checks, initiating electronic transfers, and verifying payment details.
Expense Tracking: They track and categorize expenses, maintaining accurate records of all transactions related to the hostel&039;s purchases and expenditures.
Record- Keeping:They maintain meticulous records of invoices, payments, and financial transactions, ensuring easy retrieval of information for auditing or reference purposes.
