Receivables & Revenue - Avp

1 day ago

Chennai Tamil Nadu, 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**:

- **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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