Job Description Key Result Areas/Accountabilities: Key Result Areas/Accountabilities Supporting Actions Recording of Inward collection Access of bank statement on hourly intervals. Intimation to Marketing team for inward collection received in bank statement. Post of receipt of collection details, updation of the same in system and application with respective outstanding. Adjustment of Bank charges (if any). Follow up with bank incase inward collection details is not clearly visible (For getting RTGS Settlement Report). Ensure recording of TDS u/s 194Q deduction wherever applicable. Download Bank statement daily for submission of collection MIS to Treasury, BFMs, Mktg team & Mktg Finance on daily basis. Ensure daily BRS & transfer of funds to Mumbai pool a/c. Follow-up with Mktg team for open Dr / Cr items, obtain application details & their application post receipt of details Letter of Credit Transactions Review of Draft LC Received from customers through Mktg and deviation reporting, if any. Follow-up with LC Advising Bank of Negotiable copy of LC. On receipt of Negotiable copy of LC, review the same and deviation reporting to Marketing for amendments / necessary approvals before attachment of Sales Orders with LC. Coordination with Mktg Finance team in case of deviation in LC, for necessary approvals / advise. Updation of LC in system & attachment of sales orders for credit check release. Post shipment, on receipt of LC Documents, review & submission with negotiating bank within stipulated time frame as per LC Terms and without any discrepancy. In case of discrepancy found in LC Documents, coordination with Marketing Team, Dispatching Plant, Transporter. Follow up with bank & Mktg team for getting due date confirmation & provide MIS for status of LC documents submitted. Follow up with Bank & Mktg Team if payment of LC Documents submitted is not received on due date. Also follow up for realization of OD interest, if any. Obtain Bank charges Advises/ Invoices from Bank and their adjustment. Intimation to Treasury for daily fund transferred to pool a/c. Monitoring of dispatches against LC & documents not received for negotiation. Bank Guarantee Review of BG Instruments post receipt from BG Opening Bank & reporting deviation for amendment in BG, if any. Ensure due diligence of BG as per SOP / guidelines. Follow up with customers, banks in case of non- receipt of BG Verification. Updation of BG instruments detail in system. Periodic MIS to Mktg, Mktg Finance and ensure extension of BGs which are expiring in coming period. BG returned to customers post due verification & applicable approvals. Insurance claim process Claim intimation and survey initiation. Submitting documents for claim Scrutiny of survey report Obtaining damage certificate from carrier Coordinating with Insurance broker for loss assessment Final settlement process and its accounting To coordinate on insurance coverage for Assets, office/flat/Buildings, warehouse inventory, trade inventory Trading material activity Scrutiny of trade material invoices and GST elements. Payment of trade material to the vendor and its accounting along with MIS. Trade material Freight provisioning and payment. Coordination with all stakeholders with respect to all trading material related matters. Stockiest Security Deposit & Applicable Interest In case collection from customer is received for SD, obtain necessary approvals & applicability of interest payout on SD. Recording of SD transaction through AR Receipts & updation of SD Master. Monthly YTD adjustment of interest provision (Accrued Interest). Obtain Bill of Supply from customer at year end / at the time of refund of SD and adjustment of same post deduction of TDS. Interest amount net of TDS refunded to the respective customer. Accrued interest provisioning in case of non-receipt of Bill of Supply at year end. Debtors Balance Confirmation Obtain Contact details of customers from marketing team against list of customers proposed /planned for Debtors Confirmations. Generate balance confirmation letters from system and circulate the same to customers with copy to respective Mktg team members. Follow up with customers & Mktg Team for obtaining balance confirmation & update the MIS. Prepare reconciliation statement in case of mismatches, post receipt of ledger copy from customers. Obtain acceptance of reconciliation statement from Customers. Die Deposit Accounting Obtain necessary approvals from Mktg team for die deposit amount received from customers. Update the Die Deposit collection in AR Receipts. In case of die deposit non-refundable, coordinate with Mktg Team & Plant for raising invoices. In case of Refundable die deposit, park the amount in die deposit account and provide periodic MIS to Mktg Team & BFMs for review & necessary action, if any. Various MIS Preparation of various Daily / Monthly / Qtrly MIS: Daily Collection MIS Monthly Collection MIS Actual vs Forecasted collection. LC Discrepancy Reporting Cheques Collection & Dishonored MIS SD & BG MIS Interest on Stockist Sec Deposit. Die Deposit MIS etc. Audit Schedules as and when required
