Process Associate Foreign Invoicing Processing

1) Job Purpose:

To perform routine foreign vendor invoice processing activities including checking invoices against purchase orders timely entry into ERP system verification of TDS requirements coordination with banks and treasury for payment follow-up and maintaining FEMA compliance awareness. This entry-level role focuses on learning foreign payment processes and building specialized skills in international transaction processing.

2) Job Context & Major Challenges:Write the specific aspects of the job that provide a challenge internal and external) to the jobholder in the context of the Business / Unit / Function / Department / Section

Key Responsibilities and Accountabilities:

• Checking of foreign invoices with Purchase Order material/service receipt
• Timely entry of invoices into ERP system
• Checking of TDS & other statutory requirements
• Follow up with bank & treasury for timely remittance
• Updated with FEMA compliance requirements
• Communication to obtain required information to process documents
• Coordination with banks and treasury for timely execution of payment
• Accounting of TDS as per applicable rate and reconcile monthly liability
• Controls of liability accounts and monthly monitoring
• Ensure effective accounting and timeliness of accounting

Major Challenges Associated with these Responsibilities:

• FEMA Regulation Learning: Understanding complex FEMA guidelines documentation requirements and compliance procedures as a beginner
• Foreign Currency Handling: Learning currency conversions exchange rate applications and multi-currency accounting
• Documentation Complexity: Managing multiple documents (contracts licenses customs papers tax forms) for each invoice
• Bank Coordination: Following up with AD banks for payment status across different time zones and banking channels
• TDS Rate Determination: Learning Section 195 provisions DTAA treaties and correct TDS rate application for different countries

3) Key Result Areas:

Key Result Areas

Supporting Actions

Foreign Invoice Processing Accuracy

• Process routine foreign invoices with 99% accuracy
• Perform PO-Invoice-Contract matching correctly
• Apply correct exchange rates and currency codes
• Ensure all mandatory FEMA documents are attached

TDS & Compliance

• Apply correct TDS rates under Section 195
• Verify tax residency certificates when applicable
• Account for TDS postings accurately
• Reconcile monthly TDS liability for foreign payments

Bank & Treasury Coordination

• Follow up with banks for payment execution status
• Coordinate with treasury for forex booking confirmation
• Track SWIFT payment UTRs and confirmations
• Escalate payment failures to Process Lead promptly

Learning & Development

• Build knowledge of FEMA regulations through training
• Learn different payment purposes and documentation requirements
• Improve understanding of foreign exchange and banking
• Seek guidance on complex foreign payment scenarios