The position is for overall accounts Receivables Management including activities like debtors reconciliation, preparing and circulating total outstanding dues statement on a weekly basis highlighting critical and over dues aiming to reduce company’s DSO, preparing debtors ageing analysis, Monitoring of total receipts accounting and ensuring accuracy thereof , Bank reconciliation, raising monthly interest debit notes and their reconciliation, preparing and circulating various MIS reports related to receivables area, Checking and depositing service tax on advances on monthly basis and Reconciliation of service tax with revenue in financials on half yearly basis for service tax return filing purpose and Audit coordination – preparing and providing various audit schedules related to the respective work area and getting the same audited.
ORGANISATION CHART
Accountabilities
Key Performance Indicators
Interest on delayed payments: Calculating interest recovery against payments delayed by each customer, generating and ensuring delivery of respective debit notes, interest dues reconciliation with customers and handling & addressing queries from customers with regard to interest dues.
Raising interest debit note by 15th of the subsequent month.
Ensuring delivery of debit notes to customers within 4 days of raising such debit notes
Parking of debit notes in SAP system within 2 days of raising the debit notes.
Timely Passing interest credit notes on CA certified statement reconciliation credits from back date
Reconciliation of interest and addressing queries from customers on a daily basis.
Timely providing interest working to commercial in excel sheet as per their requirement.
Monitoring Receipt Accounting & BRS: Monitoring of total receipts accounting involving more than 2500 transaction (INR and USD) every month having a total value of more than INR 5000 crores annually. Ensuring accuracy in all respects viz date, amount, and customer. Checking and booking of forex fluctuations.
Ensuring all cheques received are deposited the next working day
Ensuring sending collection report to management on a daily basis
Accounting of all receipts within 2 days wherever invoice details are received.
Ensuring of booking of all onetime pass/ADP/TVP related income before month end.
Ensuring accuracy in accounting of receipts.
Ensuring proper record keeping of receipts transaction for audit purpose
Ensure Bank Reconciliation for ICICI2685 and closing open items on monthly basis. Also to ensure that there is no open item for more than three months.
Following up with all stakeholders (other than revenue related) for passing receipts entry and getting the required entries posted on a daily basis.
Posting of reconciled entries (more than 2500 entries monthly) from "in a/c" to "main a/c" in SAP before closure of SAP period every month end.
Following up with commercial department for payments details of un-identified receipts lying in customer accounts for more than six months.
Regularly clearing of the open items in SAP on receipt of invoice-wise payment details.
KEY ACCOUNTABILITIES
Service tax
Reconciliation of service tax deposited with revenue figures reported in financials for service tax return filing purpose on a half yearly basis within timeframe
Reconciliation of Service tax payable on receipts basis with debtors outstanding on quarterly basis
Checking and depositing service tax on advance received from customers on a monthly basis before closure of SAP period.
Audit Coordination: Preparing debtors related schedules as per revised schedule VI, preparing variance analysis showing quarterly and annual variance, bad debts provisioning as per debtors policy, bad debts write offs after necessary documentation and other schedules as required and getting the same audited.
Preparing debtors schedule after appropriate clearing of collections during the quarter, bifurcated in to different categories viz. Trade debtors - <180 days, >180 days, secured, unsecured and Non Trade debtors as per revised schedule VI within 2 days of SAP period closure.
Preparing variance analysis reports for variance in debtors outstanding and advance from customers as per audit timelines.
Initiating and booking provision of Bad and doubtful debts as per debtors policy after securing management's approval through commercial dept. as per timelines
Timely preparing subsequent realization report taking into accounts realizations for previous quarter after closing of current quarter.
Timely getting the all the schedules audited, addressing queries from auditors and ensuring that no query remains unaddressed at the end of the respective audit.
Providing MIS information: Providing MIS data with respect to receivable's related activities from time to time as required by various departments. Preparing GCM/BCM ATRs as per time lines in line with monthly CEO review.
Timely providing MIS data with respect to receivable's related activities from time to time as required by various departments.
Preparing and providing data related to various ATRs required to be presented in CEO/GCM review by 10th of the month.
Preparing and circulation Debtors Turnover days as on every month end by 10th of the month.
Preparing and circulation of MIS on Electricity and water dues unpaid by customers every fortnight.
Timely preparing and circulating MIS report on Air India dues movement containing stream wise billing as on every month end.
KEY ACCOUNTABILITIES - Additional Details
EXTERNAL INTERACTIONS
External -
Interaction with Concessionaires, JVs, Airlines and statutory, revenue and CAG Auditors.
INTERNAL INTERACTIONS
Internal -
Commercial department and top management
Interacting with SAP team for process improvement.
Interacting with Management Assurance Group for internal audit related issues.
Interacting with Compliance team for tax related issues.
FINANCIAL DIMENSIONS
Total receipts amount of more than INR 5000 Crores annually, number of transactions involved - more than 25000 annually
Average debtors more than INR 600 Crore at each month end.
Associate Manager -Accounts