Accounts Payable Lead
The primary function of this role as Foreign Accounts Payable Lead is the timely payments to vendors, partners and employees. The Accounts Payable Lead is jointly responsible for the full cycle of accounts payable functions and system monitoring to ensure company financial policies, procedures, and controls are in place, with vendors paid timely and accurately. High volume processing (1000+ invoices per month) for multiple suppliers (Eaton and non-Eaton suppliers).
This role will work closely with the Supply Chain department to process supplier payments, investigate supplier complaints and resolve Payment Order discrepancies. The incumbent also monitors the adherence to the company’s payment policies to ensure compliance and assists in the management and forecasting of cash flow requirements.
Other primary functions include the following;
• Validate all Intercompany invoices to ensure alignment with agreed Intercompany Transfer Price;
• Operate within company guidelines to resolve errors in PO match in an efficient manner;
• Process all foreign supplier invoices by means of a three-way match process;
• Ensure all invoices have valid Purchase Order number, have been properly goods receipted in the ERP systems and are a valid Tax invoices;
• Adhere to Eaton Intercompany Policy O-2 in terms of payments and overdue items;
• Prepare accrual reports where invoices have not been received from suppliers before month end and contribute to the month-end process;
• Maintenance of the Foreign supplier master data vendor list;
• Opening vendor account is both Syspro and Oracle for new vendors;
• Collaborate and support the Glasgow Shared Service centre in processing payments for suppliers who are managed by the Shared Service teams;
• Provide necessary documentary evidence to the local Banks for all foreign payments as and when requested;
• Keep an up to date register of all Intercompany Loans and interest payments due date. Submit payment request for interest payments on due dates;
• Ensure all import invoices are accompanied by all relevant customs, clearing and freight documentation. All import foreign invoices to have matching SD500 customs documents.
Uploads invoices to the electronic accounts payable system;
Review approved invoices for proper coding and posts into the General Ledger;
Process monthly recurring payables;
Reconcile creditors sub ledger for each supplier(systems data) to vendor statements monthly to ensure all invoices are accounted for;
Complete credit applications for new vendor accounts as requested;
Provide excellent customer service to vendors and overall organization through timely resolution of queries and payment requests;
Perform month end duties – ensure all Intercompany Payable balances are confirmed and balanced at month end with all Eaton ledgers that have open balances;
Perform annual audits of vendor data to ensure non active suppliers are purge off the system;
Sign off and agree with Supply Chain on Goods In transit (GIT) on a monthly basis before period close;
Monthly reconciliation of the sub ledger vendor accounts with supplier statement. Any discrepancies to be resolved within 30 day period after statement date; and
Ad-hoc duties as per the need.
1 year experience
We make what matters work. Everywhere you look—from the technology and machinery that surrounds us, to the critical services and infrastructure that we depend on every day—you’ll find one thing in common. It all relies on power. That’s why Eaton is dedicated to improving people’s lives and the environment with power management technologies that are more reliable, efficient, safe and sustainable. Because this is what matters. We are confident we can deliver on this promise because of the attributes that our employees embody. We’re ethical, passionate, accountable, efficient, transparent and we’re committed to learning. These values enable us to tackle some of the toughest challenges on the planet, never losing sight of what matters.
Region: Europe, Middle East, Africa
Job Level: Individual Contributor
Is remote work (i.e. working from home or another Eaton facility) allowed for this position?: No
Does this position offer relocation?: No
Travel: Yes, 25 % of the Time