Finance Associate

Optimas Solutions Ltd; Pune District; On-site; INR 400,000 - 700,000; Full time

Job summary

Optimas Solutions Ltd. is seeking a Finance Associate to manage Inventory Finance duties such as reconciliations, intercompany transactions, and variance analysis, while handling Accounts Payable activities to ensure timely payments and continued parts supply.

Key tasks include preparing journal entries, resolving invoice discrepancies, and maintaining accurate inventory and accounting records. The role emphasizes accuracy, end-to-end ownership, and cross-functional collaboration with suppliers

Qualifications

• Experience in inventory finance reconciliations and variance analysis.
• Experience with journal entries and account reconciliations.
• Knowledge of supplier invoicing and Accounts Payable processes.

Responsibilities

• Analyze and reconcile intercompany movements including unrealized profit in inventory.
• Prepare and process monthly journal entries and account reconciliations.
• Process customer direct-ship billing and AP invoices in NetSuite.
• Review ageing invoices and follow up on approvals to ensure timely payments.

Skills

Accuracy & attention to detail

Communication

Problem solving

Time management

Team player

Adaptability

Tools

NetSuite

Google Mail

Excel

Word

Job description

Job Title : Finance Associate – Inventory Finance / Accounts Payable

Responsible for :

Inventory Finance – O versee inventory reconciliations, intercompany transactions, work order processing, and variance analysis. Support accurate financial reporting through journal entries, account reconciliations, cost of goods sold (COGS) adjustments, and vendor reconciliations. Collaborate with Supply Chain, vendors, and internal stakeholders to resolve discrepancies, manage billing processes, and maintain accurate inventory and accounting records.

Accounts Payable – Manage a portfolio of vendor accounts, ensuring the accurate and timely processing, validation, and control of Accounts Payable invoices. Support on-time payments and continuity of parts supply.

Key Tasks and Responsibilities

• Analyse and reconcile intercompany movements, identifying unrealized profit within inventory.
• Prepare and process monthly journal entries and account reconciliations.
• Process customer direct-ship billing.
• Process VRMAs, communicate professionally with vendors, and reconcile related credit notes.

Product Price Variance (PPV)

• Identify and analyse price and quantity variances across trade and intercompany transactions.
• Make the necessary adjustments to inventory costs.
• Process General Ledger entries to update cost of goods sold (COGS).
• Maintain daily logs documenting actions taken.

Work Order Reports

• Review third-party Goods Received Not Invoiced (GRNI) and identify and analy s e cost variances.
• Identify and assess risks associated with unused raw material components in third-party processing.
• Prepare and process monthly journal entries and account reconciliations.
• Review intercompany in-transit inventory and ageing, and make corrections where required.

Accounts Payable

• Process Accounts Payable invoices & Work order Invoices in NetSuite, record business transactions, and validate financial data. Investigate invoice discrepancies, clarify questionable items or prices, and compare system entries against invoices to resolve anomalies.
• Review invoices and requisitions to confirm that the required payment approvals are in place.
• Use the Daily Non-Payable Report to investigate and resolve invoice queries.
• Review aged invoices and follow up with approvers or owners to obtain outstanding approvals and clear invoices from the system promptly.

Key Skills and Competencies:

• A ccuracy and attention to d etail
• Drive for results - end to end ownership.
• Investigative p roblem-solving abilities .
• Outstanding c ustomer service: both external and internal customers .
• IS system k nowledge – Google mail , Excel & Word.
• Methodical a pproach .
• Time m anagement - ability to multi-task and prioritize
• Team player .
• Good c ommunication . Ability to communication confidently and professionally across all levels with internal and external contacts.
• Ability to adapt to change in a fast-paced environment.

Health and Safety

• Understand and follow good health and safety practices.
• Ensure working conditions and the use of resources comply with applicable legislation, approved codes of practice, and organisational requirements.
• Report all accidents and near misses promptly.
• Identify and report actual or potential breaches of requirements, and ensure appropriate action is taken.

General

• Experience in an inventory-related environment, with the ability to work with large volumes of data.
• Meet established deadlines for assigned work and reporting.
• Take ownership and be accountable for the assigned area of responsibility.
• Maintain accurate and complete records as required.
• Understand and follow any specific instructions provided.
• Maintain a clean, organised, and orderly work environment.