Accounts Payable

On Financial Statement Preparation:

• Sees to it that all reconciling items in the Bank Reconciliation Report are identified and timely recorded or adjusted in the books. Bank recon shall be in the proof of cash format, done in excel, complete with the schedules of deposit in transit and outstanding checks, if any. Fills up the date cleared field found in the user defined field outgoing payment module in SAP.

• Files all bank statements/ passbooks in hard and soft copies, including the checks returned.

• Updates the monthly lapsing schedule of fixed assets and ensures the provisions for depreciation are taken up in the monthly journal voucher entries.

• Provides all documents and schedules asked for during audit, most importantly for the year end audit of financial statements. Gathers all hard copies of the BIR 2307 forms [creditable withholding tax] for support of the annual audited financial statements.

On Payable

• Releases the check for encashment and encodes the date of release in outgoing payment module in SAP.

• Checks all vouchers prepared from Purchasing-AP Module.

• Checks the purchase order for material purchases and labor. Upon receipt of the vendor’s invoice, compares the information on the invoice with the details of the purchase requisition, purchase order, receiving report and delivery receipt to ensure that the invoiced amount is for the items ordered and received by the company. Sees to it that original documents are attached. Also ensures that the vendor’s name should match on all documents. For any irregularity found on any of the documents (i.e. invoice amount do not tally with purchase order) this should be properly verified.

• Resolve problems, provide assistance and direction in settling disputes with vendors arising from payment deductions, purchase returns/ allowances and unpaid invoices. Correspond with supplier if necessary.


On Reportorial Requirements:

• Prepares the schedules and requests for payment needed to support the BIR forms filing according to the requirements set forth by the certificate of registration of the company. Filing of the forms shall be on or before the set deadlines of the BIR. Adheres to the online filing of returns that the BIR has mandated.

a. Registration, BIR Stamping of the Books of accounts - yearly
b. VAT, VAT Relief –monthly; quarterly
c. Withholding Tax for Compensation – monthly, yearly
d. Withholding Tax Expanded – monthly, yearly
e. Alphalist - yearly
f. Income Tax Returns -quarterly
• Prepares the BIR returns on b-h
g. Certificate of Creditable Tax Withheld At Source - monthly
h. Certificate of Compensation/Tax Withheld – yearly

• . Ensures data has supporting schedules filed together with the report.

• Provides the reports/documents required in the filing of permits, clearances [whether new or renewal] of other government and quasi-government institutions necessary for the compliance of the company e.g. barangay clearance, municipal license, association dues etc.

• Maintains the file in hard and soft copies of all reportorial requirements.

On Others:

• Always inquires from immediate head when in doubt.
• Performs other tasks that may be assigned from time to time.
• Duties and responsibilities are subject to change whenever new procedures occur.


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