Financial Analyst - Accounts Payable

1 Month ago • 1-2 Years • Financial Analysis

Job Summary

Job Description

PhonePe is India’s leading digital payments company. The Financial Analyst - Accounts Payable will be responsible for ensuring the accuracy and efficiency of indirect cost processing and analysis. This role supports month-end close activities, performs detailed cost analysis, and collaborates with internal and external stakeholders. The ideal candidate will have a strong understanding of accounting principles, analytical skills, and excellent communication abilities to contribute to financial reporting and cost control. Responsibilities include processing vendor invoices for indirect costs, preparing and validating accruals and prepaid expenses, reconciling accounts, and analyzing indirect costs to identify trends and variances. The role also involves coordinating with stakeholders, resolving vendor inquiries, and ensuring adherence to accounting policies and regulations like GST and TDS.
Must have:
  • Chartered Accountant (CA) with 1-2 years of experience OR Non-CA with 5-10 years of experience
  • Proven experience in accrual accounting and prepaid accounting
  • Prior experience in cost analysis or revenue analysis
  • Familiarity with vendor invoice validation processes
  • Strong understanding of accrual accounting principles, indirect cost allocations, and financial reporting
  • Solid knowledge of GST and TDS regulations
  • Proficiency in ERP systems (e.g., Dynamics 365, Oracle, SAP)
  • Advanced MS Excel skills
Good to have:
  • Familiarity with data visualization tools like Power BI
Perks:
  • Medical Insurance
  • Critical Illness Insurance
  • Accidental Insurance
  • Life Insurance
  • Employee Assistance Program
  • Onsite Medical Center
  • Emergency Support System
  • Maternity Benefit
  • Paternity Benefit Program
  • Adoption Assistance Program
  • Day-care Support Program
  • Relocation benefits
  • Transfer Support Policy
  • Travel Policy
  • Employee PF Contribution
  • Flexible PF Contribution
  • Gratuity
  • NPS
  • Leave Encashment
  • Higher Education Assistance
  • Car Lease
  • Salary Advance Policy

Job Details

About PhonePe Group: 

PhonePe is India’s leading digital payments company with 50 crore (500 Million) registered users and 3.7 crore (37 Million) merchants covering over 99% of the postal codes across India. On the back of its leadership in digital payments, PhonePe has expanded into financial services (Insurance, Mutual Funds, Stock Broking, and Lending) as well as adjacent tech-enabled businesses such as Pincode for hyperlocal shopping and Indus App Store which is India's first localized App Store. The PhonePe Group is a portfolio of businesses aligned with the company's vision to offer every Indian an equal opportunity to accelerate their progress by unlocking the flow of money and access to services.

Culture

At PhonePe, we take extra care to make sure you give your best at work, Everyday! And creating the right  environment for you is just one of the things we do. We empower people and trust them to do the right  thing. Here, you own your work from start to finish, right from day one. Being enthusiastic about tech is a  big part of being at PhonePe. If you like building technology that impacts millions, ideating with some of  the best minds in the country and executing on your dreams with purpose and speed, join us!

Job Summary:

The Financial Analyst - Accounts Payable will play a crucial role in ensuring the accuracy and efficiency of indirect cost processing and analysis. This position is responsible for supporting month-end close activities, performing detailed cost analysis, and collaborating with various internal and external stakeholders. The ideal candidate will possess a solid understanding of accounting principles, strong analytical capabilities, and excellent communication skills to contribute to robust financial reporting and cost control.

Key Responsibilities:

Accounts Payable Operations & Month-End Support

  • Assist in the timely and accurate processing of vendor invoices, focusing on indirect costs.

  • Support the month-end close process by preparing and validating accruals and prepaid expenses related to indirect costs.

  • Conduct initial reviews of indirect cost provisions to ensure appropriate accounting treatment.

  • Reconcile indirect cost accounts, identifying and resolving any discrepancies or unexplained variances.

  • Ensure all necessary documentation for indirect cost transactions is complete and accurately recorded.

 

Cost Analysis & Reporting

  • Perform detailed analysis of indirect costs across various entities and cost centers.

  • Identify key cost drivers, trends, and variances, providing insights to support financial decision-making.

  • Support the FP&A team with data and analysis for budgeting and forecasting indirect costs.

  • Contribute to the preparation of regular cost reports, highlighting areas for potential savings or efficiency improvements.

  • Assist in revenue analysis as needed, providing comprehensive financial insights.

 

Stakeholder Coordination & Query Resolution

  • Act as a key point of contact for internal teams (finance, procurement, business units) and external vendors regarding indirect cost inquiries.

  • Collaborate with stakeholders to gather necessary supporting documents for accruals, cost allocations, and invoice processing.

  • Address and resolve invoice discrepancies, payment issues, and contract-related clarifications with vendors.

  • Assist in providing documentation and explanations during statutory, tax, and internal audits.

 

Compliance & Process Adherence

  • Ensure all Accounts Payable activities adhere to company policies, accounting standards, and regulatory requirements, including GST (Goods and Services Tax) and TDS (Tax Deducted at Source) regulations.

  • Identify and suggest potential improvements for Accounts Payable processes to enhance efficiency and accuracy.

  • Support initiatives aimed at streamlining invoice processing and indirect cost tracking.

Qualifications

  • Chartered Accountant (CA) qualification with 1-2 years of post-qualification experience in Accounts Payable, Cost Accounting, or Financial Reporting.

  • OR a Non-CA qualification with 5-10 years of progressive experience in Accounts Payable, Cost Accounting, or Financial Reporting.

  • Proven experience in accrual accounting and prepaid accounting is a must.

  • Prior experience in cost analysis or revenue analysis is essential.

  • Familiarity with vendor invoice validation processes.

Technical Skills

  • Strong understanding of accrual accounting principles, indirect cost allocations, and financial reporting.

  • Solid knowledge of GST and TDS regulations and their application in Accounts Payable.

  • Proficiency in ERP systems (e.g., Dynamics 365, Oracle, SAP, or similar financial modules).

  • Advanced MS Excel skills for data analysis, reporting, and reconciliation are a must.

  • Familiarity with data visualization tools like Power BI is a plus.

PhonePe Full Time Employee Benefits (Not applicable for Intern or Contract Roles)

  • Insurance Benefits - Medical Insurance, Critical Illness Insurance, Accidental Insurance, Life Insurance
  • Wellness Program - Employee Assistance Program, Onsite Medical Center, Emergency Support System
  • Parental Support - Maternity Benefit, Paternity Benefit Program, Adoption Assistance Program, Day-care Support Program
  • Mobility Benefits - Relocation benefits, Transfer Support Policy, Travel Policy
  • Retirement Benefits - Employee PF Contribution, Flexible PF Contribution, Gratuity, NPS, Leave Encashment 
  • Other Benefits - Higher Education Assistance, Car Lease, Salary Advance Policy

Working at PhonePe is a rewarding experience! Great people, a work environment that thrives on creativity, the opportunity to take on roles beyond a defined job description are just some of the reasons you should work with us. Read more about PhonePe on our blog.

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About The Company

PhonePe was founded in December 2015 and has emerged as India’s largest payments app, enabling digital inclusion for consumers and merchants alike. With 48 crore (480 Million) registered users, one in four Indians are now on PhonePe. The company has also successfully digitized 3.6 crore (36 Million) offline merchants spread across Tier 2,3,4 and beyond, covering 99% of the postal codes across India. PhonePe is also the leader in Bharat Bill Pay System (BBPS), processing over 45% of the transactions on the BBPS platform. PhonePe forayed into financial services in 2017, providing users with safe and convenient investing options on its platform. Since then, the company has introduced several Mutual Funds and Insurance products that offer every Indian an equal opportunity to unlock the flow of money and access to services. PhonePe was recently recognized as the Most Trusted Brand for Digital Payments as per the Brand Trust Report 2023 by Trust Research Advisory (TRA).



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