Required Payment Coordinator - Mumbai

Key Responsibilities

1. Payment Processing
   • Ensure timely and accurate processing of vendor invoices, staff reimbursements, and client payments.
   • Handle payments through different modes such as online banking, cheques, UPI, or payment gateways.
   • Monitor due dates and ensure no delays in payment disbursements.
2. Payment Tracking & Monitoring
   • Maintain records of all incoming and outgoing payments.
   • Track pending payments from customers and follow up with the sales or accounts team for collection.
   • Prepare reports on payment status for management review.
3. Reconciliation
   • Perform daily, weekly, and monthly reconciliation of payments with bank statements.
   • Resolve mismatches or discrepancies in transactions.
   • Coordinate with banks or financial institutions in case of errors or payment failures.
4. Vendor & Client Coordination
   • Communicate with vendors to confirm receipt of payments and address their queries.
   • Follow up with clients/customers for pending or delayed payments.
   • Build and maintain positive relationships with vendors, clients, and internal teams.
5. Documentation & Record Keeping
   • Maintain accurate documentation of all financial transactions.
   • Prepare payment vouchers, receipts, and reports as required.
   • Support audit processes by providing necessary records.
6. Compliance & Policy Adherence
   • Ensure all payments comply with company policies and financial regulations.
   • Stay updated with taxation, TDS, GST, and other statutory requirements related to payments.
   • Support finance team in preparing compliance reports.
7. Reporting & Analysis
   • Generate daily, weekly, or monthly reports on payments made and received.
   • Analyze payment delays and suggest improvements in processes.
   • Provide inputs to management for better cash flow planning.

Required Skills & Competencies

• Accounting Knowledge: Basic understanding of accounts payable and receivable processes.
• Technical Skills: Proficiency in MS Excel, accounting software (like Tally, SAP, QuickBooks), and online banking systems.
• Attention to Detail: Ability to handle numerical data with accuracy.
• Communication Skills: Strong written and verbal communication for vendor and client coordination.
• Time Management: Ability to manage multiple payments and deadlines efficiently.
• Problem-Solving Skills: Proactively identifying and resolving payment-related discrepancies.
• Teamwork: Ability to collaborate with finance, sales, and operations teams.