Sr.Credit Controller
Gulf Warehousing Company
Total years of experience :22 years, 3 Months
Receivables Management of Customers - Collection Target Vs Collection-100% Collection Target Achievement on monthly basis for the customer base allocated
Reduction / Lesser Movement of 90+ Ageing -Max Value to be 25% of total outstanding flow to 90 + Buckets.
Customer Field Visit & Dispute Resolution- Regular visits to customers offices/ sites for Credit Follow, Dispute resolutions etc.
Customer payment delinquent for over 60 days to be visited and Documented. Plan/Recommend & Expedite proper dunning activities accordingly with proper Follow-up justification (Emails/Field Visits).
Prompt escalation of issues/Concerns to relevant parties to be able to facilitate collection, control credit offered and improve future performance
Communication of disputed invoices, credit notes required. Chasing to ensure a prompt resolution
Credit Verification, Credit Limit Fixation & Monitoring- Credit Verification within two working days upon receipt of Credit application as per the Zones Allocated
Credit Monitoring of 80% Plus exposures/notification and taking appropriate action
Invoice Delivery & Cheque Pick-up- Monitoring Timely Dispatch of bills to customer by collection Team within 2 days of handover.
Monitoring Timely Cheque/Cash Pick-ups by collection team within 2 days of handover on regular days and immediately on Month-end days to ensure Collection Target achievements.
Timely Escalations/Reconciliations/Payment Tracking- Periodical escalations/reviews - Reporting to Senior Credit Manager on the positions of all such accounts together with notification of any possible payment issues from the customer
Reconciliations of customer accounts on regular basis. Reconciled data of TOP 20 customers (and/or specific cases asked for) to be forwarded to Sr. Credit Manager on monthly basis - before 20th of every month.
Responsibility for a Client Ledger of Accounts and act as a point of contact for the company's credit related escalations and queries
Tracking of Bank deposits/Bank Credits and proper receipting of inward payments
Collection of debts in an efficient manner in line with agreed Credit Terms, Systems and Methods
Proper Coordination/Liaising /Reporting - Executing company’s credit policy within their area of responsibility
Liaise and coordinate with other Credit Team members on their daily activities
Liaising with Sales, Customer Service, Operations, Billing Departments etc. on all Customers Related Issues
Ensuring that all documents (invoices/Supporting) required to receive payment are correct and complete
Weekly cash collections forecasts
Co-ordinate with the Legal team for the legal cases and keeps an up to date record of the status of each pending case
Other Adhoc tasks assigned by Senior Credit Manager
Few of the main achievements include reduction of 90+ ageing by 40% and excellent performance in KPI, with 100% achievement in monthly collection targets.
A challenging position of Accountant in maintaining proper records and reporting to the Chief Accountant of the Accounts Receivable.
Monitoring receivables and analysis and reporting it to the Accounts Manager, wherever & whenever necessary.
Analysis and scrutiny of daily collection and of manual receipts issued by collectors.
Plan, implement, and evaluate receivable measures to ensure that the receivables are in line with the company policy.
Preparation of 7 Buckets Aging reports, so as to enable the concerned people to have an exact idea about the receivables and to take collective effort to collect the over dues.
Evaluate Customer Credit Applications and submission of credit requests to Directors for approval and get the same done.
Review of Customer Sales Promotion Agreements and create necessary provisions for the same.
Supervise the Junior Accountants, in matters related to Accounts Receivables.
Preparation of Credit/Debit notes to customers, where ever necessary.
Supervise the Sales secretaries who prepare sales invoices, returns etc.
Prepare and file all documents for legal/police purpose, so as to collect the doubtful.
To oversee that the Monthly Statement of Account and Periodic Balance Confirmations, are prepared & sent and to make sure that the balances are confirmed or get contact with the customer to reconcile the same.
Completion of yearly Audit Schedules.
Drafting of export L/C, negotiation, discounting etc.
Completion of various Bank Guarantee requirements.
Inter Division Account Reconciliation.
AR-GL Reconciliation.
AR-AR Reconciliation.
Insurance matters such as policy maintenance, motor claims & Marine Claims.
Cash Flow preparation.
Review of debts and advise to the finance dept. of provision needs.
Cheques/Invoices discounting.
PDC Discounting and Risk Elimination.
Timely closing of AR periods.
Preparation of Various other reports as & when required by the Accounts/Finance dept.
Monitoring receivables and analysis and reporting it to the Accounts Manager, wherever & whenever necessary.
Analysis and scrutiny of daily collection and of manual receipts issued by collectors.
Plan, implement, and evaluate receivable measures to ensure that the receivables are in line with the company policy.
Preparation of 7 & 4 Buckets Aging reports, so as to enable the concerned people to have an exact idea about the receivables and to take collective effort to collect the over dues.
Evaluate Customer Credit Applications and assign Credit limits and Credit Periods.
Review of Customer Rebate/Display Agreements and create necessary provisions for the same.
Preparation of Credit/Debit notes to customers, where ever necessary.
Supervise & lead the Sales secretaries who prepare sales invoices, returns etc.
Prepare and file all documents related to customers for legal/police purpose, so as to collect the doubtful.
Preparation of Monthly Statement of Account and Periodic Balance Confirmations, and make sure that the balances are confirmed or get contact with the customer to reconcile the same.
Periodic Customer Visiting
Preparation of collection Schedule and updating the Accounts Manager of the same.
Review of debts and advise to the finance dept. of provision needs.
Preparation of Various other reports as & when required by the Accounts/Finance dept.
Preparation of cheques, sales commissions, and verification of payable bills.
Supervision of Sales Secretaries, in the procedure of Invoicing & Sales returns.
To follow up sales secretaries for the strict implementation of policies & procedures of the company regarding sales.
To assist in the preparation of yearly budget,
To extend necessary support for the periodic inventory, preparation of JVs, GL posting, Trial Balancing, P & L and Balance sheet.
Supporting the IT department in maintaining the network system for the smooth functioning of the business in the Central Region.
Worked as a junior accountant, reporting to the Chief Accountant. I was mainly responsible for documentation and preparation of all incoming and outgoing receivable/payable cheques and bills. Preparation of Payroll was one of my other responsibilities, which includes, EOSB, HRA, TA, etc. Assisted in sales tax matters. I was responsible for the daily processing of all journal entries and posting of the same, which was overviewed by the Chief Accountant.
Passed B.Com with Cost Accounting as a main. This course is mainly focused on all relevant aspects of Accounting such as Trial Balance, P&L, Balance sheet, Reconciliation, Adjustment entries,Inventory, Depreciation, Company Accounts, Taxation, etc.