Receivables & Revenue - AVP

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:

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

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

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

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

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