Senior Finance Executive
Sharaf Retail - Sharaf Group
Total years of experience :8 years, 2 Months
- Handling principal merchandise accounts of COTTON ON, FOREVER 21, 3INA brands which includes GRN posting to financial ledgers, payments processing through TT and post shipment loans, timely and effective communication with suppliers, monthly reconciliation with suppliers SOA.
- Handling B2B sales (outright and consignment sales), including issue of proforma and tax invoices, accounting of sales and receipts, and monthly reconciliations.
- Payments processing to logistic vendors - accounting of logistic expenses upon due verification of tax invoices along with shipping documents, internal approvals for import shipments, rate cards as per freight agreements, and monthly reconciliation with SOA from respective logistic vendors.
- Timely processing of payroll, upon checking the data provided by Payroll Supervisor, in terms of gross pay, deduction, net pay, movement in staff count. Preparing the payroll entries and guiding the juniors to account them.
- Timely processing of GPSSA payments.
- Timely E Dirham and Noqodi (e wallet) top-ups, monthly reconciliation with e wallet statements.
- Timely processing of Employee Full and Final Settlements.
- Timely payment processing for annual trade license renewals, monthly and annual sales permissions like DED and DTCM across 50+ stores of Sharaf Retail.
- Processing of annual leave salaries, salary advances, employee sales, travel advances, employee ledgers reconciliations.
- Timely processing of fortnightly and monthly incentive payments to store staff.
- Head Office Petty Cash Handling.
- Timely processing of quarterly VAT payment to FTA.
- Group company invoicing, accounting, payments processing and follow-up on receivables, monthly reconciliations.
- Timely recording of monthly closure entries for effective MIS reporting.
- Planning year end books closure, completing all activities to meet timelines.
- Timely and effective communication with internal and external auditors, providing supporting
documents and workings.
- Providing management with monthly ageing reports of inventory, accounts receivable and accounts payable.
- Review of rebates, advertisement & promotion expenses, outlet rentals to check if the calculations are in line with Business Development Agreements (BDA’s) entered with each outlet.
- Review of stock valuation on daily basis, identifying the brand-wise product lines where cost per unit is not captured and rectifying it simultaneously in Focus software.
- Review of demand plans received from purchasing department, analyzing the profitability of brand wise product line prior to issue of purchase orders.
- Providing consolidated daily sales report, identifying and reporting the brands with GP margin below the specified limit.
- Review of expenses which are eligible to claim input VAT, arranging and compiling the supporting documents, ensuring that all amounts are accounted to VAT receivable ledger in SAGE 300 software.
- Monthly reconciliation of credit facilities of multiple banks with books of accounts, arriving at the actual outstanding balances for MIS reporting.
- Accounting of petty cash transactions involving multi currencies like AED, GBP, INR, THB and USD, reconciliation of petty cash balance with books of accounts on monthly basis.
- Completing BRS on timely basis after recording all receipts and payments, and allocating them customer and vendor invoice wise.
- Preparing accounts up-to finalization, conducting income tax audits, company audits, and VAT audits as per statutory regulations and guidelines.
- Providing accounting services to various business firms like schools, garment trading, software and other service providing companies.
- Assisting clients in obtaining statutory registrations like VAT, Service Tax, and Professional Tax; facilitating timely payment of taxes and return filings by providing tax workings.
- Conducted stock and receivable audits on behalf of multiple banks like DBS, HSBC, ICICI, IDFC, Kotak Mahindra, RBL and Yes Bank; of various reputed companies across Andhra Pradesh, Karnataka, Kerala, Tamil Nadu and Telangana.
- Attending quarterly meetings with Credit Monitoring (CMOG) team of ICICI Bank to discuss the practical difficulties faced during the audit and other critical audit observations.
- Performed other special audits like revenue audits on behalf of the Phoenix Market City, Bangalore; Physical Stock Verification audits on behalf of the Nilgiris (Future Group), Bangalore; Asset verification and vehicle audits on behalf of Tata Capital Financial Services Ltd; Vehicle and Non-vehicle audits on behalf of ‘Hero’; Escrow audits on behalf of RERA guidelines; Invoice audits on behalf of Yes Bank; Quarterly and half-yearly unit inspections on behalf of RBL Bank; Concurrent audit of Cosmos Cooperative Bank, Bangalore; An audit team member of Malavalli Town Municipal Council, and Gokulam Complex Apartments Owners Association.
- Conducted concurrent audits of Canara Bank, Indian Overseas Bank in Chennai, as per the given checklist, and submitted the periodical reports to the branch and regional offices.
- Performed stock and receivable audits of various reputed companies across Tamil Nadu, on behalf of State Bank of India.
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