Finance Superintendent Credits - Chennai

Opening for one of the reputed FMCG company for the positiion of Finance Superintendent Credits

Location - Chennai

PURPOSE OF THE JOB:

Pricing, Claim accounting, IFOR updation, Credit insurance, remittance accounting, Sales return, New Selling Arrangement, Balance confirmation,

KEY FOCUS AREAS:          

• Pricing updation for customer
• Accounting for claims
• IFOR updation
• Credit insurance
• Remittance
• Sales Return
• New selling Arrangement
• Balance confirmation
• Charging of interest

• PRINCIPAL ACCOUNTABILITIES:

• Pricing updation 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 updation

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)   Analysing the actual scheme/ discount with the budget

c)   Ascertaining the monthly provision against sales made and intimating to accounts team

·        IFOR updation

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 criterias 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 authorised

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 authorised

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 liason with marketing team

·        SAP Training

Code of conduct and ensuring compliance of statutory norms

KEY SUCCESS FACTORS:

§ Error free schemes & discounts updation for customers

§ Timely accounting for claims

§ Error free IFOR updation for customers

§ Timely sales return accounting for customers

§ Timely charging of interest for overdue customers