Finance Executive

Job SUmmary:

As Finance Executive you will be responsible for the complete accounting and reconciliation of all transactions with domestic and foreign intercompany entities. In this role you will be responsible for raising Interco invoices / credit notes, recording of collection entries, circulation of statement of accounts (SOA) to Interco entities, reconciliation of Interco balances, follow up with Interco entities for aged outstanding dues, resolving Interco queries, performing TDS reconciliation with 26AS, assessing GST applicability on diverse nature of transactions.  You will have the opportunity to work on diverse tasks, including collaborating with cross functions and business unit. Further you will also be responsible for preparing balance sheet and P&L schedules on a monthly basis, audit support and co-ordination with the internal / external auditors, ensuring compliance with FEMA regulations.

In This Role, Your Responsibilities Will Be:

1. Preparing the working file with the listing of Interco entities for raising of workstation and salary backcharge invoices. 

2. Raising invoices in Oracle AR module and recording of manual journal entries.

3. Assessing GST applicability on diverse nature of transactions

4. Addressing and resolving the queries received from Interco entities regarding the cost allocation/backcharge

5. Performing TDS reconciliation with 26AS on a quarterly basis and collaborating with Interco entities for discrepancies identified during the recon. 

6. Ensuring timely and accurate receipt application in Oracle.

7. Handling requests received from Admin, HR and other teams for new backcharge (as well as discontinuation of existing backcharge) and incorporating the same in working file.

8. Sending reminders and following up for payment with the Interco entities for invoices which remain overdue for more than 90 days

9. Post month-end AR module closure, preparing and circulating statement of accounts (SOA) to all Interco entities.

10. Post month-end AR revaluation, recording of allocation entry to transfer all Interco AR balances from common BU to dedicated BU.

11. Reviewing the imbalance report received after HFM upload and ensuring that such imbalances are rectified and accounted for in the subsequent period.

12. Analysing and subsequent invoicing of all cost accumulated in AR recharge suspense GL.

13. For statutory audit, prepare Interco AR balance confirmations, follow up with Interco entities for responses on audit confirmations and perform reconciliation of confirmation received

14. Preparation of balance sheet and P&L schedule on monthy basis and uploading on E-rec portal

15. Assess the invoices which are expected to breach the FEMA timelines and escalate the issue to finance leaders of Interco entities to avoid FEMA non-compliance.

Who You Are: 

1. You accurately track and raise all the invoices on a monthly basis. 

2. You ensure timely recording and application of receipt entries. 

3. You coordinate with Interco entities for invoice specific issues and follow-up with entities for aged dues.  

4. You effectively coordinate with auditors for timely completion of audit with minimum audit observations.

5. You should be able to bring in efficiency in the entire process by automating routine/manual transactions.

For This Role, You Will Need:

1. Master's / bachelor's degree in commerce with min 4-8 years of experience in Transaction processing and AR reconciliation. 

2. Knowledge of accounting - Invoice, Credit note, Debit note and recording of journal entries in Oracle.

3. Working knowledge of GST and Income tax TDS

4. Advance Excel Skills 

5. Strong and effective Communication skills 

6. Experience in handling audit-related activities, co-ordination and resolution of queries

7. Ability to handle large volumes of data 

8. Working Knowledge of Oracle ERP platform 

9. Ability to work with diverse, multi-regional teams and global teams spread across different geographies. 

Key relationships:

1. Admin & HR Team 

Collaborate with Admin and HR team for backcharge of employees & other costs to various Interco entities. 

1. Interco team:

Follow up for aged outstanding dues. Initiate discussion for the queries raised by Interco team and provide quick resolution. 

1. Internal / External auditors:

Co-ordinate with auditor, ensure quick resolution of queries, perform root-cause analysis for audit observations and propose process / control enhancements as part of audit resolution.

Our Offer to You:

By joining Emerson, you will be given the opportunity to make a difference through the work you do.

Emerson's compensation and benefits programs are designed to be competitive within the industry and local labor markets. We also offer a comprehensive medical and insurance coverage to meet the needs of our employees.

We are committed to creating a global workplace that supports diversity, equity and embraces inclusion. We welcome foreign nationals to join us through our Work Authorization Sponsorship.

We attract, develop, and retain exceptional people in an inclusive environment, where all employees can reach their greatest potential. We are dedicated to the ongoing development of our employees because we know that it is critical to our success as a global company.

We have established our Remote Work Policy for eligible roles to promote Work-Life Balance through a hybrid work set up where our team members can take advantage of working both from home and at the office.

Safety is paramount to us, and we are relentless in our pursuit to provide a Safe Working Environment across our global network and facilities.

Through our benefits, development opportunities, and an inclusive and safe work environment, we aim to create an organization our people are proud to represent.