Receivables & Revenue - AVP

1 week ago

Chennai, India Saaki Argus & Averil Consulting Full time

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:

  1. Receivable functions
  • Setting up objectives for Accounts receivable team to align with accounting department s 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 Logo s 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.

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