Finance Associate

Job Title: Finance Associate - AP & Compliance

Location:  Coimbatore

Department:  Finance

Reports To:  Senior Finance Manager

Job Type:  Full-time (onsite)

Work Timing: 4Pm to 12am and/or 10am to 6PM (can be day shift based on work allocation)

Job Summary:

The AP & Compliance Executive will be responsible for end-to-end accounts payable process, including invoice processing, vendor payments, reconciliations, and resolving payment discrepancies and ensuring adherence to tax, RBI, and STPI compliance requirements. This includes ensuring that all regular invoice booking, accruing expenses, regulatory filings, tax returns, corporate governance requirements, and industry-specific compliance standards are met accurately and on time. The role demands close collaboration with the finance, legal, and operations teams to ensure that the company operates within legal and regulatory frameworks.

Key Responsibilities:

Invoice Processing:

• Receive, review, and verify invoices and supporting documentation.
• Enter invoices into the accounting system and ensure proper approvals and coding of invoices to appropriate cost centre or GL accounts.

Reconciliation:

• Perform Quarterly reconciliation of vendor statements and accounts.
• Reconcile AP ledger accounts to ensure accuracy and completeness.
• Investigate and resolve unmatched or aging invoices.
• Coordinate with vendors and internal departments to resolve discrepancies or disputes.

Reporting:

• Prepare and update accounts payable aging reports.
• Generate weekly/monthly reports on payables, outstanding balances, and payment schedules.
• Assist in cash flow forecasting related to accounts payable.

Tax Compliance:

• Direct & Indirect Tax Compliance:
• Prepare and file corporate tax returns (e.g., Income Tax, GST, TDS) in a timely manner.
• Coordinate with tax authorities for audits, assessments, and disputes, as necessary.
• Stay updated with changes in tax regulations (direct/indirect taxes) and ensure the company's adherence to such laws.
• Tax Planning & Reporting:
• Prepare and file monthly, quarterly, and annual tax reports for internal and external stakeholders.
• Review the tax provisions and ensure that the accounting for taxes is in accordance with Indian tax laws and accounting standards.

RBI Compliance (Reserve Bank of India):

• Foreign Exchange & FEMA Compliance:
• Ensure compliance with RBI regulations, especially under the Foreign Exchange Management Act (FEMA), for foreign remittances, investment inflows, and repatriation.
• Monitor and ensure adherence to foreign exchange regulations (Form FC-GPR, FC-TRS, etc.).
• Reporting & Filings:
• Prepare and file necessary reports and documents with the RBI, including reports on Foreign Direct Investment (FDI), external borrowings, and any other RBI-mandated filings.
• Stay updated on RBI's guidelines and circulars, ensuring timely compliance with regulatory changes.

STPI Compliance (Software Technology Parks of India):

• STPI Filing & Reporting:
• Ensure timely filing of STPI reports, including quarterly returns, monthly returns (Form-1, Form-2, etc.), and any other specific forms required by the STPI.
• Keep accurate records of exports made by the company under the STPI scheme and report them as required.
• Exemption and Benefits Compliance:
• Ensure that the company claims all eligible benefits under the STPI scheme (like exemptions from customs duties, excise duties, etc.) and complies with the required documentation and reporting processes.

Requirements:

Education & Qualifications:

• Bachelor's degree in commerce, Finance, Accounting, or semi-qualified professionals in a related field (or equivalent experience).

Experience:

• 3-5 years of experience in managing P2P (Accounts Payable), compliance, tax, RBI, and STPI-related functions.
• In-depth knowledge of Indian taxation laws (Direct and Indirect Taxes) and STPI guidelines.
• Prior experience working with Tax filings, FEMA/RBI compliance, and STPI-related documentation.

Skills:

• Strong understanding of Accounts Payable, tax laws, RBI regulations, and STPI compliance.
• Excellent attention to detail, organizational skills, and ability to manage multiple tasks simultaneously.
• Proficient in Microsoft Office Suite (Excel, Word, PowerPoint) and familiarity with compliance software/tools.
• Ability to work under pressure and meet strict deadlines.

Personal Attributes:

• High ethical standards and integrity.
• Strong communication and interpersonal skills.
• Ability to work independently and as part of a team.
• Good problem-solving abilities and proactive attitude.