Process Associate Export AR

1) Job Purpose:

To execute standard routine export accounts receivable transactions accurately and timely in compliance with FEMA guidelines following established SOPs including FX transaction recording export invoice verification credit note processing supplementary invoice posting provision accounting and LC record maintenance. The role is an entry-level execution position requiring strong attention to detail accuracy in multi-currency data entry basic understanding of FEMA compliance and adherence to defined processes under supervision of Process Lead.

2) Job Context & Major Challenges:

Key Responsibilities and Accountabilities:

• Timely recording of FX transactions to reflect true financial position of Debtors
• Checking correctness of export sales transaction matching with plant despatch
• Timely issuance of Supplementary invoice / CN at the end of month according to maturity of QP
• Settlement of Sales Claim and Commission approved by Marketing
• Timely accounting of provisions
• Maintenance of LC records in system
• Good knowledge of FEMA and banking guidelines to scrutinise Export transactions
• Update with changes in Govt. policy and guidelines affecting to Business
• Timely recording of FX transactions to reflect true financial position of Debtors
• Monitor AR processes to ensure accurate receivables accounting as per CFD guideline
• Ensure correctness of export sales transaction matching with plant despatch
• Ensure issuance of Supplementary invoice / CN at the end of month according to maturity of QP
• Resolve customer Query within timeline governed through designed SLA
• Settlement of Sales Claim and Commission approved by Marketing
• Manage liability provision of Sales claim and commission and ERD accounting
• Ensuring effective accounting for AR
• Ensure timeliness of accounting in line with business requirements

Major Challenges Associated with these Responsibilities:

• FX Accounting Complexity: Timely and accurate recording of Foreign Exchange (FX) transactions in multiple currencies to reflect true financial position applying correct forex rates from various sources (bank rates hedge rates) understanding forex gain/loss implications on transactions handling multiple currencies simultaneously (USD EUR JPY etc.) managing forex rate fluctuations during transaction processing coordinating with Process Lead for rate confirmations

• FEMA Compliance at Entry Level: Developing good working knowledge of FEMA and banking guidelines to scrutinize export transactions understanding basic FEMA requirements to identify non-compliant transactions staying updated with changes in government policies affecting export business recognizing red flags that need escalation to Process Lead balancing learning FEMA compliance with daily productivity targets

• Plant Despatch Matching for Exports: Checking correctness of export sales transactions against plant despatch reports for international shipments understanding export-specific documentation (shipping bills Bill of Lading packing lists) identifying mismatches in quantities HS codes or product descriptions for export coordinating with Process Lead for discrepancy resolution managing additional complexity compared to domestic matching

• Multi-Currency Transaction Processing: Processing export transactions across multiple currencies with varying decimal places and formats ensuring correct currency code selection in ERP system to avoid FEMA issues handling partial payments in different currencies than invoice currency applying customer receipts in foreign currency correctly managing confusion with exchange rate applications

• Month-End Export Processing: Timely issuance of Supplementary invoices and Credit Notes at month-end for export customers according to QP maturity handling additional complexity of forex revaluation during closing managing tight deadlines with added FEMA compliance requirements processing export provisions for sales claims and commissions in multiple currencies coordinating with multiple stakeholders during peak closing periods

• LC Record Maintenance: Maintaining accurate and up-to-date LC records in system for export customers tracking LC expiry dates and alerting Process Lead for renewal requirements ensuring LC terms and conditions are properly captured in system managing multiple LCs at different stages for various customers understanding basic LC terminology and documentation requirements

• Export Sales Claim & Commission Settlement: Settlement of export sales claims and commissions approved by Marketing with forex implications handling liability provisions for export claims and commissions understanding ERD (Exchange Rate Difference) accounting and provisioning processing adjustments in multiple currencies coordinating with Marketing for approvals and details

• Customer Query Resolution: Resolving export customer queries within SLA timelines despite potential language barriers understanding export-specific queries (shipping forex rates customs LC documentation) coordinating with Process Lead for complex export queries maintaining professional communication with international customers managing time zone differences for query responses

• Learning Curve in Specialized Function: Understanding complex export AR processes including FEMA compliance as entry-level associate learning multi-currency accounting and forex concepts grasping export documentation and banking procedures understanding BRC/FIRC and export realization requirements following multiple SOPs for export transactions while meeting productivity targets

• Accuracy Under FEMA Pressure: Maintaining 99.5% accuracy standards in export transactions where errors can cause FEMA violations avoiding currency code errors that could result in compliance issues ensuring correct forex rate application to prevent financial misstatements double-checking all export-related data before posting handling additional scrutiny and pressure due to regulatory nature of export transactions

3) Key Result Areas:

Key Result Areas

Supporting Actions

FX Transaction Processing

• Timely recording of FX transactions to reflect true financial position of Debtors
• Apply correct forex rates as per Treasury/hedge rates or bank rates
• Handle multi-currency receipt posting with accuracy (99.5% target)
• Coordinate with Process Lead for forex rate confirmations when unclear
• Process FX transactions following FEMA-compliant procedures

Export Invoice Verification

• Checking correctness of export sales transactions matching with plant despatch
• Ensure correctness of export sales transaction matching with plant despatch reports
• Timely issuance of Supplementary invoice/CN at month-end according to maturity of QP
• Highlight mismatches in export data to Process Lead promptly
• Verify export documentation (shipping bill Bill of Lading) completeness

Export Credit Note & Claims

• Issuance of export credit notes against details provided by marketing according to SLA
• Settlement of Sales Claims and Commission approved by Marketing (export customers)
• Process different types of export credit notes in appropriate currencies
• Verify proper approvals before processing export credit notes
• Meet SLA timelines for export credit note issuance

Export Provision & ERD Accounting

• Timely accounting of provisions for export transactions (rebate sales claims commission)
• Manage liability provision of Sales claims and commission for export customers
• Handle ERD (Exchange Rate Difference) accounting and provisioning
• Process month-end export adjustments within closing timelines
• Coordinate with Process Lead for provision details in multiple currencies

FEMA Compliance & LC Maintenance

• Good knowledge of FEMA and banking guidelines to scrutinize export transactions
• Maintenance of LC records in system with accurate tracking of terms and expiry
• Update knowledge with changes in Govt. policy and guidelines affecting export business
• Identify potential FEMA compliance issues and escalate to Process Lead
• Ensure all export transactions comply with RBI-FEMA guidelines

Supporting Activities

• Monitor AR processes to ensure accurate receivables accounting as per CFD guideline
• Resolve customer queries within timeline governed through designed SLA (basic export queries)
• Ensure timeliness of accounting in line with business requirements
• Follow SOPs for export transactions and maintain quality standards
• Coordination with auditors when required for export transaction verification