Position Title: DH - Central Sales Accounting
Work Experience: 8 - 12 years
Qualification: Chartered Accountant OR MBA - Finance.
Job location: Vadodara
Job Purpose: Lead the sales accounting operations in shared service centre and is responsible for overseeing and managing all aspects of the sales accounting function within the organization. This role plays a critical part in ensuring accurate financial reporting and compliance with accounting standards and regulations.
1. Sales accounting: Manage day to day operation of CSA
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Ensure proper revenue recognition for all sales transactions in accordance with accounting principles.
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Supervise the accurate and timely recording of sales transactions in the organization's accounting system, including sales invoices, credit memos, and adjustments.
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Ensure that sales-related accounts are reconciled regularly, including accounts receivable, deferred revenue, and sales returns.
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Establish and maintain internal controls over sales accounting processes to safeguard company assets and prevent fraud or errors.
2.Customer Management & Reporting: Create & maintain accurate Customer records
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Oversee the end-to-end customer master data activities, including onboarding, maintenance, and reconciliation.
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Monitor the regular master data review and ensure customer information is accurate and up-to-date, and customer payments are received in accordance with payment terms.
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Supervise and ensure that customer codes are blocked and unblocked after careful analysis and as per the SOP.
3. Working capital Management: Timely receipt of customer payments
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Review and analysis of all outstanding payment across business units/zones.
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Supervise the balance confirmation process to ensure that balances appearing in our books are in alignment with customer records.
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Analyze and present status of outstanding payments to all stakeholders.
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Work closely with the marketing team to ensure timely collection from debtors to manage and control overdue.
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Engaged in continuous efforts to reduce overdue to the minimum extent possible to have more funds available as working capital.
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Ensure that the payments are made in a timely and accurate manner, while adhering to the payment terms and conditions.
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Monitor and manage cash flow (funding requirements) related to accounts receivable activities.
4. Reporting & Audit: Prepare reports for management and provide support in audit activities
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Responsible for analyzing sales accounting reports, such as aging analysis, cash flow forecasts, and other performance metrics related to account receivables, draw meaningful insights, and present the report to the senior leadership with suggestions for improvement.
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Prepare and review ad hoc reports related to sales accounting as required by management from time to time.
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Develop and maintain dashboards and other reporting tools to track CSA performance and provide regular updates to senior management.
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Provide adequate support to Unit F&A teams in timely and accurate month-end and year-end closing activities related to accounts receivables.
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Provide support for audits related to CSA processes.
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Perform other duties as assigned by the management team.
5. Credit Limit management: Managing credit limit-related activities
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Evaluate the creditworthiness of new customers and regularly review the credit limits of existing customers. Utilize credit reports, financial statements, and other relevant data to make informed decisions.
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Work closely with the sales and onboarding teams to ensure that new customers undergo a thorough credit evaluation before establishing credit terms.
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Engage in negotiations with customers regarding credit terms, including credit limit increases, payment plans, and collateral arrangements.
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Review and make decisions on credit limit approvals, particularly for high-value or high-risk customers.
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Implement and monitor credit holds for customers who exceed their credit limits or exhibit deteriorating creditworthiness. Coordinate with the sales team to release holds when appropriate.
6. Communication and Collaboration: Building relationships with stakeholders
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Responsible for maintaining strong relationships with internal stakeholders, such as procurement, unit finance & accounts, and technical teams in units.
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Liaise with external stakeholders to resolve any issues related to payments.
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Coordinate with other central teams to ensure efficient and effective operations.
7. Compliance of SOPs, delegation Manual & marketing policy: Implement best practices and ensure high service delivery quality
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Review Standard Operating Procedures (SOP) to identify gaps in the existing processes and SOPs.
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Monitor implementation of provisions specified in Business delegation manual.
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Coordinate with other teams to ensure effective gap analysis & implementation of SOPs.
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Responsible for managing the risk associated with the CSA process, ensuring that appropriate controls are in place and that risks are identified and mitigated.
8. Process Improvement: Continuous improvement for high service delivery quality
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Identify trends & patterns in data & make recommendations for process improvements across the receivable area.
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Responsible for driving process improvement initiatives to streamline the accounts receivable processes and enhance efficiency.
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Priorities areas of improvement by implementing best practices and training the team on new processes.
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Responsible for managing and monitoring the CSA budget, ensuring that spending is in line with financial targets.
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Identify areas for process automation and work with the IT department to implement new tools and technologies.
9. Statutory compliances: Ensure timely and accurate compliance with various laws and explore and avail all incentives and tax benefits
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Ensure compliance of legal provision & procedure of Income tax, Custom & GST across the assigned activities.
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Ensure compliance of company law matters, SEBI Guidelines & other various Govt. Statutory provisions.
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Implement SOPs to ensure Corporate Governance and regulatory compliances.
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Ensure that the amendments if any made in the concerned laws are well communicated to the team and have been inculcated in our processes to ensure compliance to amended laws and regulations.
10. Policy & Practices:
Develop robust policies and ensure successful implementation
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Work closely with the Senior Leadership to align the Sales accounting function with the overall company strategy & financial goals.
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Work with the Senior Leadership to develop and implement Sales accounting-related policies and procedures.
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Inculcate in team the group values/policies/ vision/ mission & objectives.
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Responsible for ensuring that all sales accounting-related policies and procedures are communicated to the team and that they are properly understood.
11. People Development:
Maintain congenial work culture by effective management of people to improve productivity, growth & motivation levels to institutionalize best organizing practices
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Responsible for managing the performance of the team, providing regular feedback, and conducting performance reviews.
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Provide training and development opportunities for the team, ensuring that staff have the necessary skills to perform their jobs effectively.
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Set performance targets & KRAs and conduct performance assessment, training need identification of team members and communicate role clarity to each one.
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Maintain discipline and grievance handling of the team.
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Motivate employees for stretch targets through team building and two-way communication.
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Develop the team members for retention and provide the team with technical support on various issues.
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Coordinate with HR team for monitoring the development.
