PURPOSE OF THE JOB: Pricing, Claim accounting, IFOR updating, Credit insurance, remittance accounting, Sales return, New Selling Arrangement, Balance confirmation, KEY FOCUS AREAS: • Pricing updating for customer. • Accounting for claims • IFOR updating. • Credit insurance. • Remittance • Sales Return • New selling Arrangement • Balance confirmation • Charging of interest • PRINCIPAL ACCOUNTABILITIES: • Pricing updating for customer. a) Checking the correctness of the scheme/discount updated in the system b) Checking of invoices post accounting for schemes & discounts to check the correctness of the scheme & discount updating c) Checking of invoice factor on any amendment to the VAT rate d) checking of tax rate for the relevant customers e) Reconciliation of monthly invoices with the schemes & discounts provided by marketing f) Answering to marketing for the queries relating to above • Accounting for claims a) Comparing the schemes/discount papers received against the amount ascertained b) Analyzing the actual scheme/ discount with the budget c) Ascertaining the monthly provision against sales made and intimating to accounts team · IFOR updating a) Verifying the correctness of the IFOR limit & period updated b) Preparation of the MC request for IFOR limit & period received from marketing c) Checking the criteria of customers having balances more than 6 months, balance confirmation defaulters and intimate to marketing · Credit insurance a) Providing data pertaining to the customers falling under overdue b) Monitoring the movement of the customers both fallen due for payment as well new customers falling under the overdue category c) Ensuring the necessary documents are sent to the insurance company for lodging notification/claim • Remittance a) Ensuring that remittance is done on the same day of the receipt b) Monthly report to the marketing of the collections made branch-wise • Sales Return a) Checking of the invoice factors pertaining to the invoices for the last SKUs sold in the past b) Checking whether the material has been physically received at the warehouse and manual GRN has been taken at the warehouse. c) Checking whether the sales return has been duly authorized d) Checking the correctness of the Sales return value manually computed and passing entry to the difference of the system generated and manual amount computed. • New Selling Arrangement: a) Ensuring all new customers are created in the system after duly authorized b) Check whether the required documents are submitted for creation of a new customer c) Periodically review whether any change in the constitution of the party has been reported to ensure that new customer code is created for them • Balance confirmation: a) To ensure that balance confirmation is sent to all the parties on a monthly basis and the proof of sending the same is maintained for records b) Periodically take it up with marketing on the pending balance confirmation from the customers. c) To resolve the issues highlighted in the balance confirmation by the parties such as the pending credit notes, excess amount debit etc. • • Charging of interest: a) Charging of interest on the overdue balances of the customers on a monthly basis b) To check periodically all variables for computing sales return are considered in SAP c) Answering to marketing queries on the interest computation Back office for procurement / Operations function § Approvals in place as per CASP / DASP / SOP/MASOP/ Credit Policy related to above areas Vendor management Annual business Plan § Providing data for claims accounted during the year § Providing data for average invoice factor billed during the year § Providing data for customer details and the remittance made during the period MIS Reporting · Credit note accounted and pending accounting from finance end People Development · Training in the areas of people skill to liaison with marketing team · SAP Training Code of conduct and ensuring compliance of statutory norms KEY SUCCESS FACTORS: § Error free schemes & discounts updating for customers § Timely accounting for claims § Error free IFOR updating for customers § Timely sales return accounting for customers § Timely charging of interest for overdue customers INTERNAL LINKAGES: Asst. Finance Manager, Head of Finance, AEs, ASMs EXTERNAL LINKAGES: WDs, Requirements Requirements ROLE Finance Superintendent - Credits LEVEL 6 LOCATION Chennai, Head Office EXPERIENCE 1+ years of experience in credits or costing Education Qualification • CMA Pass out candidates, passed out in 1st attempt only 2020 /2021 / 2022 /2023 batches only Industry • FMCG, Manufacturing (Good reputed well known branded companies) Benefits As per industry standards