|Ort||Bangalore, Karnataka, India|
In this position the Cash Application Analyst / Specialist is responsible for identifying and allocating all incoming receipts of the Company on daily basis. The daily activities includes receipt accounting, customer clearing, GL clearings and various reporting related to Accounts Receivable.
- Download Bank statement, identify and allocate all receipts accurately, within the agreed time frame.
- Weekly reconciliation of discounting receivables cash proceeds from the bank against the company invoice records in SAP
- Responsible for loading of invoice file to the bank for invoices in the discounting receivable program, and reconciliation of the settlement file upon receipt of cash
- Responsible for daily cash position, working capital requirements, and weekly cash forecast to ensure optimal use of the corporation's cash assets
- Oversee daily banking activities and transaction processing
- Processing of all manual, electronic remittances (ACH/Wire), payments received through credit card and Lockbox payments.
- Processing TDS/ WHT/ VAT entries and subsequent clearing.
- Receivable re-class (Retention)
- Identify and communicate discrepancies in receipts/ credit received in bank statement with the concerned business unit / AP / HR / Collection team / local country SAS organization for timely allocations.
- Continuous follow-up with Business units for getting allocation details.
- Perform daily receipt reconciliations.
- Timely closure of AR Sub-ledger, by allocating all receipts appropriately.
- Resolve and apply all un-applied cash against appropriate open AR, continuous follow-up.
- Analyzing Open Credits in customer account, follow-up with Business Unit and apply against appropriate AR – minimize open credit in customer A/C.
- Perform customer clearing activities on a weekly basis.
- Keeping / maintaining/ attaching all supporting documents in SAP / shared folder.
- Ensure SOX compliance.
- Handle internal/ statutory audit queries and produce required documents.
- Close coordination with cross functional team members for resolving queries related to Cash Application.
- Monthly AR Reporting’s (Age Analysis, Overdue, Provision schedule, Balance Sheet GL reconciliations, etc.).
- Bachelor’s degree in Commerce, MBA Finance or equivalent.
- General understanding of accounting concepts and procedures.
- 1-3 years’ experience in a fast paced finance/Cash application process in an MNC environment / Manufacturing industry.
- Knowledge of SAP is preferred.
- Willing to work in night shift including extended hours to meet business requirements.
- Accounts receivables knowledge / experience in Accounts Receivable processes.
- Knowledge of Bank receipts allocations and customer clearing procedures.
- Ability to prioritize and manage multiple task/ responsibilities
- Excellent verbal communications and written skills
- Ability to deal professionally, courteously, and efficiently with co-workers as well as internal customers, and to remain calm under stress.
- Must be proficient in MS Office Suite / knowledge of SAP.
- Ability to handle business needs/ deliverables.
More about us
Hitachi ABB Power Grids is a global technology leader with a combined heritage of almost 250 years, employing around 36,000 people in 90 countries. Headquartered in Switzerland, the business serves utility, industry and infrastructure customers across the value chain, and emerging areas like sustainable mobility, smart cities, energy storage and data centres. With a proven track record, global footprint and unparalleled installed base, Hitachi ABB Power Grids balances social, environmental and economic values, and is committed to powering good for a sustainable energy future, with pioneering and digital technologies, as the partner of choice for enabling a stronger, smarter and greener grid. www.hitachiabb-powergrids.com