Team Lead

4 weeks ago

Vadodara, India Aditya Birla Group Full time

Lead and manage a team responsible for the accurate and efficient management of sales accounting processes, ensuring that all sales transactions are properly recorded, reconciled, and compliant with accounting standards. The role involves supervising a team and collaborating with various departments to maintain financial accuracy, support decision-making, and foster a culture of continuous improvement within the organization.

Key Result Areas

Supporting Actions 

1. Sales transaction accounting: Monitoring & controlling customer accounting (Collection, credit note, debit note, service invoice)

Regularly review sales transactions to ensure accurate recording of revenue, sales discounts, and any related adjustments. Verify that sales invoices and credit notes are prepared correctly and in compliance with company policies and accounting standards. Review and validate requests for credit notes from various sources, such as the sales team, customer service, or customers themselves. Initiate and oversee the approval process for credit notes, including obtaining necessary authorizations from management or designated personnel. Review the credit note prepared by team including the correct amount, reference to the original invoice, and a clear explanation of the reason for the credit. Ensure that the credit note is correctly accounted for in the financial records, including updating the accounts receivable and revenue accounts. Regularly issue customer account statements detailing outstanding invoices, payments, and balances. Reconcile customer accounts to ensure that recorded balances match the general ledger.

2. Accounts Receivable Management: Supervise the accounts receivable process, including the monitoring of outstanding invoices and collections efforts.

Responsible for obtaining the balance confirmation from all the customers and dealers to reconcile their balances. Directly liaise with the customers to request and obtain balance confirmation along with working closely with the marketing team for the balance confirmation process, ensuring alignment between balances and customer record. Ensure all the sales liabilities for chemical units has been correctively captured and appropriate provision has been taken for the liability which was not generated through system/ or any additional expenses. Review payments related to domestic sales and verification of the e-net payment file. Responsible as a first level point of contact for addressing overdue accounts.  Regularly review the daily debtors report to identify long outstanding debtos accounts and assess their status. Collaborate closely with the marketing team to coordinate efforts for the collection of overdue amounts from long outstanding debtors. Ensure day to day activities related to general accounting & finalization of accounts on quarterly/annual basis. Prepare adhoc reports related to sales accounting as required by management from time to time.

3.Security deposit related accounting: Ensure accurate accounting and documentation for security deposit

Maintain a comprehensive record of all security deposits, including details such as deposit amount, purpose, and the party associated with the deposit. Responsible for tracking Interest on security deposit credit to customer account after deducting proper taxes and ensuring that the same is provided in the books on quarterly/ annual basis. Ensure that deposits are returned promptly upon fulfilling the necessary conditions. Maintain clear communication with depositors, explaining the purpose, conditions, and terms of the security deposit. Periodically reconcile the security deposit account to ensure that the recorded balances match the actual deposits held. Continuously assess and improve security deposit accounting processes to enhance accuracy and efficiency.

4.Brokerage, commission and service invoices: Oversees the process of recording, verifying, and processing invoices related to brokerage services and commissions

Review each invoice for accuracy and completeness, ensuring that the services and commissions align with the terms of the contract or agreement. Initiate and oversee the approval process for brokerage and commission invoices, obtaining necessary authorizations from management or designated personnel. Investigate and resolve any discrepancies or disputes related to brokerage and commission invoices promptly. Ensure compliance with company policies, industry regulations, and accounting standards in the processing of brokerage and commission invoices. Calculate and record accruals for unbilled or unprocessed commissions that have been earned but not yet invoiced. Generate reports on brokerage and commission expenses, providing insights into cost trends, service utilization, and commission payout analysis. Continuously assess the brokerage and commission invoice processing workflow to identify areas for efficiency improvements and risk reduction.

5. Shortage related accounting:  Ensure accurate accounting and documentation of shortages

Maintain a comprehensive record of all shortages including details such as shortage quantity, shortage amount and the customer associated with the shortage. Responsible for periodic review of general ledger to identify and rectify shortages. Responsible for timely issuance of adequate credit notes to customers against shortages. Ensure that the credit notes are being issued only after proper approval from the authorized personnel, adhering to company policies and guidelines. Monitor and ensure that the control account related to shortages is reconciled and maintains a zero balance at the end of each month. Continuously assess and improve shortage accounting processes to enhance accuracy and efficiency.

6. Compliance of SOPs, Delegation Manual & Marketing policy: Implement best practices and ensure high service delivery quality

Review Standard Operating Procedures (SOP) & Marketing policies to identify gaps in the process and take corrective measure. Ensure implementation of provisions specified in Business delegation manual and marketing policy. Coordinate with other teams to ensure effective gap analysis & implementation of SOPs.

7. Statutory compliances: Ensure timely and accurate compliance with various laws and explore and avail all incentives and tax benefits

Reconciliation of receivable TDS on GST of all units on monthly basis. Review & monitor TDS receivable GL and ensure timely collection of TDS certificate. Review statutory deduction related ledgers of all units and ensure all entries posted in respective unit's GL with the correct amount. Ensure TDS/TCS certificates are received from customers on timely basis. Ensure compliance of legal provision & procedure of Income tax, Custom & GST across the assigned activities. Regularly monitor and communicate to senior management, amendments if any made in Income Tax Act and Goods and Services Act along with the potential impact of such amendment on our business. Ensure compliance of company law matters, SEBI Guidelines & other various Govt. Statutory provisions. Implement SOPs to ensure Corporate Governance and regulatory compliances.

8. People Development: 

Maintain congenial work culture by effective management of people to improve productivity, growth & motivation levels to institutionalize best organizing practices in the unit

Set performance targets & KRAs and conduct performance assessment, training need identification of team members and communicate role clarity to each one. Maintain discipline and grievance handling of the team Inculcate in team the group values/policies/ vision/ mission & objectives. Motivate employees for stretch targets through team building and two-way communication. Develop the team members for retention and provide the team with technical support on various issues. Coordinate with HR team for monitoring the development.

Location: Vadodara, Gujarat

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