Deputy Manager - Fixed Asset Accounting

JOB OVERVIEW:


We are seeking a detail-oriented and experienced Fixed Asset Accountant to manage the entire fixed asset lifecycle for our company using the SAP system. You will be responsible for accurate and timely recording of all fixed asset transactions, ensuring compliance with accounting standards and regulations. You will also play a key role in maintaining accurate and up-to-date fixed asset records in

SAP and supporting the financial reporting process.



KEY STAKEHOLDERS: Site Finance Team, Projects, Corporate Finance, Engineering, Shared Services.


KEY STAKEHOLDERS: EXTERNAL : Auditors, SAP Consultants.


REPORTING STRUCTURE:

Will report to – Deputy Chief Manager


EXPERIENCE: 5-6 Years



CRITICAL QUALITIES:

Work to ensure the entire fixed asset lifecycle from acquisition to disposal, including capitalization, depreciation, amortization, retirements, and transfers is done on time

Reconcile fixed asset Subledgers to the general ledger.
Prepare journal entries for fixed asset transactions.
Prepare reports on fixed asset activity, including depreciation expense and changes in asset values.
Help the site teams with data required for Physical fixed assets verification
Ensure accurate and up-to-date fixed asset records in SAP, including asset master data, depreciation schedules, and transaction history.
Interface with other departments, such as accounting, operations, and IT, on fixed asset matters.
Stay up-to-date on changes in fixed asset accounting standards and regulations.
Prepare and analyze fixed asset reports after the accounting period close
Ensure all fixed asset accounting procedures are documented and kept up to date with proper sign off’s
Troubleshoot and resolve fixed asset accounting issues.
Provide support and training to other staff on fixed asset accounting matters.
Support Stat/Internal, and other audits with data and clarifications required on Fixed Assets process
Must have excellent english communication skills to be able to interact effectively with international sites

KEY ROLES & RESPONSIBILITIES:

·Allocation of budget & budget transfers in SAP (Investment & PS module) for capex requisitions.·Maintaining CWIP tracker for ensuring accurate recording of all additions and deletions.·Follow-up with site teams for timely capitalization of due & overdue projects.·Initiation of capitalization of fixed assets process in SAP PS module.·Analysing Line items of CJIC of PS module and correctly assign the Asset Class.·Calculate and post monthly depreciation in compliance with the Companies Act and company accounting policies.·Maintain the fixed asset register.·Capital Commitment analysis.·Knowledge of working of Foreign Exchange/Gain loss on capex projects.·Ensuring supporting documentation for capitalized projects. Ensure that records are always audit-ready, supporting internal, tax, and statutory audits.·Actively support internal, tax, and statutory audits by preparing necessary schedules.·Address and resolve audit queries promptly, ensuring effective closure.·Providing monthly & quarterly MIS report to India & Overseas sites·Providing forecast report for quarterly advance tax calculations to corporate finance.·Taking active part in standardization & automation projects related to capex. Drive IT initiatives aimed at improving existing ERP tools, particularly SAP S/4HANA.·Collaborate with teams to ensure the seamless implementation of SAP HANA.·Handling capex related queries from site finances.·Proficiency in SAP, especially the PS module is must.·Proficiency in MS Excel & Power point.·Good Inter-personal skills·Good Analytical skills



Qualifications

QUALIFICATION:

B. Com/ M.com