Rashid MKP

Account Receivables Management of the Midal Group

 Creation of customer after analyzing customer credit viability and credit worthiness of company.
 Enabling proper control over customer credit control and fixing the credit limit.
 Posts customer payments by recording cash, checks, and credit card transactions.
 Posts revenues by verifying and entering transactions form lock box and local deposits.
 Updates receivables by totaling unpaid invoices.
 Maintains records by microfilming invoices, debits, and credits.
 Verifies validity of account discrepancies by obtaining and investigating information from sales, trade promotions, customer service departments, and from customers;
 Resolves valid or authorized deductions by entering adjusting entries.
 Resolves invalid or unauthorized deductions by following pending deductions procedures.
 Resolves collections by examining customer payment plans, payment history, credit line; coordinating contact with collections department.
 Summarizes receivables by maintaining invoice accounts; coordinating monthly transfer to accounts receivable account; verifying totals; preparing report.
 Preparation of cash flow statement.
 Reconciliation of accounted PDCs with bank statement on monthly basis.
 Preparation of credit memo for customer.
 Handling of insurance claims and related activities (Additional premium, claim premium ratios etc.)
 Handling of LC management and full filling all finance requirement for the LCs.
 Proper management over LC discounting and Factoring finance
 Analysis and accounting of all the bank charges involved in LC, bank transfer and factoring funding
 Bad debt recognition and providing of provision for bad debt for the consecutive years and writing off of Bad debt after considering management approval
 Facilitating internal audit requirement of the company
 Facilitating yearly financial audit by providing proper information’s and documents
 Supporting VAT return filing and prompt calculation of VAT payable after considering all relevant VAT input availability.

Costing

 Regular review of General Ledgers & Clearing/Controlling accounts
 Regular review of Inventory Valuation & COGS analysis
 Analysis of RMC Consumption & availing CENVAT Credit
 Regular review of Labor hours bookings & Assessment and Distribution in SAP
 Calculation of CLHR for absorption of Overheads into Production Units
 Calculation of Under/Over absorption of Overheads & Accounting
 Production orders wise variance analysis (Comparison of Planned Cost with Actual)
 Preparation of Profitability statements for Projects
 Fixed Assets Accounting and Physical verification
 Allocating and releasing Revenue & Capital Budgets in SAP
 Accounting of Inter Unit Stock Transfer and Debit Notes
 Creating & Releasing D&E work orders & Internal Orders
 Value reduction of Inventory, Provision for Obsolescence & Provision for ED on FG
 Replying Internal Audit queries & Maintaining Cost Records
 Selling Price Vetting and verification
 Capital & Revenue Budget Preparation
 Stock analysis, Budget allocation & Carry forward of Budget
 Regular analysis and review of variance between target and actual cost

Purchase Finance:
 Verifying RFQ (Request for Quotation) with respect to Indenter’s requirements
 PNC vetting -Verification of -
Quotes with reference to RFQ
1. Requirement of items with reference to Bill of Material (BOM)
2. Stock availability in SAP across the BEL
3. Budget availability to the concerned Project.
4. Make/Model, Selling price etc.
5. Preparing Comparative statement
6. Follow up of Purchase procedure
 PO vetting
Verifying the Draft PO with respect to management sanction.
 Releasing of PO in SAP
Receivable

 To critically analyze and verify the price, tax implications, terms and conditions of the sale order
 Releasing of sale order after critical verification
 Analysis of OBD (Out Bound Delivery) with actual delivery
 Verification of proof of delivery and accounting of sales
 Advance adjustment and accounting of sales
 Preparation of Various reports regarding Sales, Debtors and project wise Reporting of Revenues
 Regular review on VAT payable and VAT calculation processes
 Follow up on CST(Central Sales Tax) and calculation