Finance Manager

V2 Retail Ltd; Gurugram District; On-site; INR 1,200,000 - 1,800,000; Full time

Job summary

V2 Retail Ltd is seeking a seasoned Manager – Accounts Payable & Receivable at its Corporate Office. You will lead end-to-end AP and AR, ensuring accurate invoicing, collections, reconciliations, and timely financial closing across retail channels.

Drive automation with SAP S/4HANA, tighten controls, optimize working capital, and mentor the AP/AR team to deliver reliable MIS and stakeholder insights. Ideal candidates have 4–10 years in AP/AR, retail or multi-location exposure, strong Excel and

Qualifications

• 4–10 years of relevant experience in AP/AR or finance operations.
• Experience in retail, e-commerce, FMCG, or multi-location businesses preferred.
• Strong working knowledge of SAP S/4HANA or other ERP systems.

Responsibilities

• Lead end-to-end AP and AR functions for retail and other channels.
• Ensure accurate accounting of sales, collections, and vendor invoices.
• Drive automation and process improvements in AP/AR.
• Manage month-end closing and financial reporting.
• Lead and develop AP/AR team and manage stakeholders.

Skills

P2P experience

O2C experience

Excel & MIS reporting

ERP/ERP analytics

Education

Graduate/Postgraduate in Commerce/Finance/Accounting

CA Inter / CMA / MBA Finance (advantage)

Tools

SAP S/4HANA

ERP systems

Job description

Job Description – Manager (Accounts Payable & Receivable)

Department: Finance & Accounts

Designation: Manager – Accounts Payable & Receivable (AP & AR)

Experience: 4–10 Years

Reporting To: Head – Finance / Financial Controller

Location: Corporate Office

Job Purpose

To lead and manage the end-to-end Accounts Payable and Accounts Receivable functions, ensuring accurate and timely accounting of sales, collections, vendor invoices, payments, reconciliations, statutory compliance, financial closing, and management reporting.

The role will be responsible for strengthening financial controls, optimizing working capital, minimizing revenue and cost leakage, improving reconciliation and settlement processes, and driving automation across AP and AR operations for all retail and business channels.

Key Responsibilities

• Lead the Accounts Receivable function across retail stores and other business channels.
• Ensure accurate accounting of retail sales through POS and ERP integration.
• Review daily sales accounting, customer receipts, credit notes, debit notes, returns, exchanges, and promotional adjustments.
• Ensure timely closure of daily sales and revenue accounting.
• Monitor customer, franchise, and institutional receivables.
• Review receivable ageing and drive timely recovery of overdue balances.
• Monitor revenue leakage and implement corrective actions.

2. Accounts Payable & Invoice Processing

• Lead the end-to-end AP function covering OPEX, CAPEX, commercial transactions, and other business expenditures.
• Ensure timely verification, accounting, and processing of vendor invoices in SAP/ERP.
• Validate PO, GRN, contracts, rate approvals, and supporting documents before invoice booking.
• Review non-PO invoices and ensure approvals as per DOA.
• Ensure appropriate GL mapping, cost centre allocation, and expense classification.
• Monitor vendor advances, security deposits, recoveries, and adjustments.

3. Collection, Settlement & Payment Management

• Monitor collections across Cash, Credit/Debit Cards, UPI, QR Code, Digital Wallets, Payment Gateways, E-commerce Marketplaces, and other payment modes.
• Ensure timely settlement and reconciliation of collections from banks and payment partners.
• Prepare and review vendor payment proposals based on agreed credit terms and cash-flow priorities.
• Ensure timely vendor payments while optimizing working capital.
• Monitor urgent payment requests and ensure appropriate approvals.
• Oversee employee reimbursements, travel expenses, and petty cash settlements.
• Resolve long-pending collection, settlement, and payment issues.
• Ensure timely reconciliation of bank accounts, payment gateways, card acquirers, wallet providers, UPI collections, and marketplace settlements.
• Review periodic vendor ledger reconciliations.
• Ensure timely resolution of unmatched invoices, debit notes, credit notes, deductions, and ageing balances.
• Identify and resolve duplicate invoices, duplicate payments, and unreconciled transactions.
• Coordinate with banks, payment partners, vendors, and internal teams to resolve discrepancies.
• Manage accounting for vendor rebates, trade discounts, incentive schemes, marketing support, logistics charges, warehousing costs, rent, utilities, and other commercial expenses.
• Review commercial agreements and ensure accurate accounting and settlement.
• Resolve vendor disputes relating to invoices, deductions, claims, and payment settlements.
• Ensure appropriate accounting of vendor recoveries, provisions, and adjustments.
• Lead monthly, quarterly, and annual AP & AR closing activities.
• Ensure timely accounting and review of:
• Accruals
• Provisions
• Prepaid expenses
• Write-offs
• Vendor/customer reconciliations
• Review outstanding liabilities and receivable ageing.
• Ensure timely reversal of provisions and reconciliation of suspense accounts.
• Ensure accurate and timely financial reporting in accordance with applicable accounting standards.

7. Statutory Compliance & Internal Controls

• Ensure compliance with applicable:
• GST requirements
• TDS provisions and return requirements
• Ind AS / Accounting Standards
• Company SOPs and Delegation of Authority (DOA)
• Ensure proper documentation and audit trails for financial transactions.
• Coordinate with Taxation, Internal Audit, Statutory Auditors, and other stakeholders.
• Support statutory, internal, GST, tax, and forensic audits.
• Ensure timely closure of audit observations and control deficiencies.

Prepare, review, and present:

• Daily Collection MIS
• Sales & Collection Dashboards
• Outstanding Liability Reports
• Payment Due Reports
• Revenue Variance Analysis
• Expense Analysis
• Budget vs Actual Expenditure
• Provision & Accrual Reports
• Working Capital Reports
• Collection Efficiency Reports
• Cash Flow Forecasts
• Commercial Settlement Reports
• Exception and KPI Reports

Provide actionable insights to senior management for improving collection efficiency, cost control, working capital, and financial performance.

9. Process Improvement & Automation

• Drive automation of AP and AR processes through SAP S/4HANA and related finance systems.
• Improve reconciliation efficiency through ERP integration, workflow automation, OCR, dashboards, and digital payment integrations.
• Develop and implement SOPs for AP, AR, reconciliation, collection, and payment processes.
• Reduce manual interventions and improve transaction turnaround time.
• Strengthen controls to prevent revenue leakage, duplicate accounting, duplicate payments, and financial fraud.
• Identify opportunities for process standardization and continuous improvement.
• Lead digital transformation initiatives across finance operations.

10. Stakeholder Management

Work closely with:

• Retail Operations
• Procurement & Sourcing
• Supply Chain & Logistics
• Treasury
• Taxation
• Business Finance
• IT & ERP Teams
• Banking Partners
• Payment Gateway Providers
• Vendors and Customers
• Internal Audit
• Statutory Auditors
• Senior Management

Ensure timely resolution of cross-functional issues impacting collections, payments, accounting, and financial closure.

• Lead, mentor, and develop the AP & AR team.
• Allocate responsibilities and monitor productivity and SLA adherence.
• Establish team KPIs and performance standards.
• Review team performance and identify training and development requirements.
• Promote a culture of accuracy, accountability, compliance, and continuous improvement.
• Ensure adequate segregation of duties and effective team-level controls.

Key Performance Indicators (KPIs)

• Timely AP & AR month-end closure
• Collection and settlement efficiency
• Reduction in receivable ageing and overdue balances
• Reduction in unreconciled bank/payment gateway items
• Invoice processing turnaround time
• Reduction in revenue and cost leakage
• Compliance and audit observation closure
• Working capital improvement
• Automation and process improvement initiatives
• Accuracy and timeliness of MIS reporting

Candidate Profile

• Graduate/Postgraduate in Commerce, Finance, Accounting, or a related discipline.
• CA Inter / CMA / MBA Finance qualification will be an added advantage.
• 4–10 years of relevant experience in Accounts Payable, Accounts Receivable, Finance Operations, or General Accounting.
• Strong experience in both P2P (Procure-to-Pay) and O2C (Order-to-Cash) processes preferred.
• Experience in retail, e-commerce, FMCG, consumer goods, or multi-location businesses will be preferred.
• Strong working knowledge of SAP S/4HANA or other ERP systems.
• Good understanding of GST, TDS, MSME provisions, reconciliations, financial closing, and internal controls.
• Strong Excel and MIS/reporting skills.
• Experience in managing teams and cross-functional stakeholders.
• Strong analytical, problem-solving, communication, and process-management skills.