Job Description

About our client
Our client is an Indian multinational technology company that provides engineering research and development services.
Educational Qualification and Experience:
CA / ICWA with 8-10 years of experience in Accounting functions.
Location: Chennai
Roles & Responsibilities: * Receivable functions

• Setting up objectives for Accounts receivable team to align with accounting departments goals.
• Ensure Invoices are raised in time on customers.
• Ensure Invoices raised are supported by proper documents.
• Ensuring timely collection of payments by continuous follow-up.
• Flag Overdue to Management on immediate basis
• Create Early Warning Report to Management on likely bad accounts.
• Organize records of invoices and documents
• Ensure all transactions are recorded in compliance with accounting standards to stand audit scrutiny.
• Ensure Collections are matched against invoices raised on customers.
• Setoff of Foreign remittances against invoices

2. Reporting functions

• Prepare periodical analytical reports which help the Management in decision making.
• Prepare and monitor Receivables ageing report.
• Prepare monthly, quarterly, annual, and ad-hoc forecasting reports.
• Prepare and monitor Collections report on daily basis based on geography.
• Prepare and monitor Cash Flow forecast based on expected receipts.
• Prepare New Logos report to report on their collection status.
• Report on the actuals vs budgets on collections on weekly basis and flag exceptions
• Prepare Billing Register and reconcile with Invoice inputs.
• Ensure Stock/Receivables Reports are submitted to Banks in time.
• Ensure Submission of monthly and annual returns with STPI in time.
• Filing of APR with Banks and STPI
• Prepare DSO report customer wise and Vertical wise.
• Monitor Exception reports for contracts.

3. Revenue:

• Recognize Revenue in Books as per Revenue Recognition norms provided by relevant accounting standards.
• Monitor Unbilled Revenue on monthly basis and recognize appropriately in books
• Monitor Excess Billed Revenue and ensure proper treatment in books.
• Review of MSA, SOW, Purchase Orders and ensure they are in sync with Companies requirements
• Ensure all documents are as per the standard terms and will withstand audit scrutiny
• Ensure all contracts and documents meet the compliance requirements

4. Liaisoning

• With Internal Auditors on matters relating to Revenue and Receivables
• With External Auditors on matters relating to Revenue and Receivables
• With Sales team for collections follow-up
• With Delivery and other teams for status of projects
• With Banks for foreign exchange rates for foreign inward remittances
• With STPI for submission of reports

SKILLS:

• Good Written and Oral Communication skills
• Attention to details.
• Organising and Prioritising
• Adherence to timelines with quick turnaround time
• Analytical skills
• Good Working Knowledge in MS Excel.