Lead - Retail Payables at Nayara — Abdasa, India

About The Role

About Nayara Energy: Nayara Energy is a new-age downstream energy and petrochemicals company with a formidable presence spanning across the entire hydrocarbon value chain, from Refining to Retail. Nayara Energy operates in India for India driven by a relentless commitment to fuel the nation's energy aspirations. At the heart of our operations lies the Vadinar refinery, India's second-largest single-site refinery with a capacity of 20MMTPA.With over 6,300 Retail Outlets, we cater to the need for reliable and safe mobility across the length and breadth of the country. We have adopted a phase wise asset development strategy to enter the petrochemicals sector which will be a significant step in our crude to chemicals journey. Through sustainable development projects in Health and Nutrition, Education and Skill Development, and Sustainable Livelihoods, Nayara Energy enhances the quality of life in the communities it operates in. Delivering value for all our stakeholders is at the very core of our beliefs and we are committed to providing the energy that fuels the dreams of our employees, customers, partners and communities.

Job Purpose

Responsible for performing daily accounting and payments of Lease Rent & Stamp Duty as per company policy to more than 7000 lease vendors including complain resolution and MIS.
Responsible for end-to-end process of document verification to income booking for application money received from proposed customers (LOA)
Co-ordinate with Business Process team for Lease Rent & FATA recovery related provisions and accounting.
Supervising the activities performed by the Analyst.
Supervising Balance Confirmation and customer accounts reconciliation exercise as per Company’s policy / SOP.

Key Responsibilities

Lease Rent Invoice or undertaking process

Responsible for end-to-end processing of lease rent invoices and undertakings which includes following

Supervising Lease Rent Invoices processing and verification.
Coordinating with Marketing Finance team for processing invoices and payment approvals as per payable amounts
Quality check of the invoices booked in the system before advice for payment
Coordinating with Business and Finance team, Indirect Taxation team, Legal Team, Marketing Team for day to day issue resolution.
Ensuring timely accounting of Lease Rent Provision provided by Marketing Finance Team
Responsible to provide MIS reports related to Lease rent for Invoices processed, pending with reasons on timely basis
Responsible for clearing of Vendor balances as well as analysis of vendors’ balance.
Responsible for resolution of the query received from franchisee related to Lease Rent.

Letter of Allotment (LOA) Accounting

Responsible for timely accounting of Income on the basis of Letter of Allotment for prospective customers
To verify the LOA documents received with necessary approvals.
Coordinating with Marketing Finance team for approvals and FC of LOA issued.
Coordinating with Marketing Team for copies of LOA issued for accounting of Income
Responsible for Provisions Accounting related to LOA.
Responsible to circulate the MIS for LOA Booking done and pending due to non-receipt of documents.

Documentation verification for cancellation & refund application fees to customer

Responsible for verifying LOI/LOA Application Fees received to Nayara Energy Limited and validation of required documents and approvals
Validate all documents like LOA - Pre LOA, LOA Cancellation Latter, LOA person request latter, LOA Person undertaking for LOA refund
Coordination with legal and IDT Team for process of refund and advice payment team to release payment.

Accounting of FATA Recovery, Stamp Duty Invoices, Security Deposits

Responsible for accounting of FATA Debit Note / Credit Notes by coordination with Business Performance Team
Responsible for accounting of Stamp Duty Invoices received from Marketing team and payment as per company policy.
Responsible for accounting of Provision on monthly basis related to FATA Recovery and Stamp duty payable.
Responsible for accounting of Security Deposit as per communications received from marketing team with necessary approvals.
Coordinating with marketing team for day-to-day issues in accounting.

Customers Balance Confirmation

Responsible for communicating balance confirmation letters on quarterly basis to Customers.
Sending reminder to customers if balance confirmation is not received.
Coordinating with Marketing Finance Team to get balance confirmation pending from customers
Keeping MIS and track of balance confirmation sent, received, and pending (not confirmed) from customers.
Ensuring reconciliation statement if the balance is not matching with customer ledger.