Bala Bharath Yalavarthi
Langley,Canada
Summary
Analytical accounting professional experience with over 11 years in General ledger (Record to report), book keeping, balance Sheet Analysis & bank reconciliation, Budget forecasting, Fixed Assets month end close activities. Extensive experience in Accounts payable, Accounts receivable and presenting financial statement. Ability to work and communicate effectively with peers and management. Ensures accurate financial information through strong attention to detail. Strong experience in handling migrating projects. Expertize in hiring the associates and handling the team.
Overview
13
13
years of professional experience
1
1
Certification
Work History
Team Manager
Cognizant Technologies solutions
09.2013 - 11.2024
- Handling all end to end activities in General Accounting/Accounts receivable/ Account payable.
- Creating and posting of journal entries into Oracle and Microsoft dynamics, bank reconciliation on weekly basis and follow up with open items and month end balance sheet and profit loss analysis
- Extensive reporting in Hyperion during month end closing
- Secure all month end accruals are posted or not
- Fixed asset accounting and reporting creation of asset depreciation run
- Perform month-end account closing activities
- Provide appropriate accounting information to customers when needed
- Analyze and perform foreign currency exchanges.
- Reviewing all the Vouchers supporting which posted in the month
- Posting penny difference amount, clearing difference from balance sheet accounts
- Support Auditor in conducting internal and external audits
- Completing account reconciliation within due time
- Maintaining strict deadline and TAT for all actives
- Updating of SLA trackers on monthly basis
- Handling and reviewing of manual outgoing payments on daily basis
- Preparing and posting of incoming and outgoing related transactions and follow up for accounting information based on the nature of transactions
- Preparing of vat reconciliation and calculate vat amount to pay
- Observe and update to sub ledger team if any change in vat numbers
- ·Minimized penalty by creating process that avoid late fee.
- · Reducing the count of open invoices.
- · Reviewing the remittance file on daily basis.
- · Matching amount with open invoices on daily basis.
- · On time refund to customer.
- · Business partner reconciliation.
- · Transfer amounts between AP& AR.
- · Invoices creation and aging conditions.
- Worked in 4 migration projects for 12 entities involved in UAT testing and mapping of GL accounts
- Performed 560 test scripts and identified defects
- General Accounting/Accounts receivable/ Account payable.
- Reviewing and updating all SOP's on monthly basis if any new changes in routine update and taking approval from client to signoff
- Check list prepare and share to team on weekly basis about the deliverables
- Conducting weekly meeting and explaining errors to team
- Updating RCA and sharing to all the team members about the error not to repeat
- Update SLA/KPI tracker with requirements and drive team to consistently achieve and surpass expectations
- Preparing ops deck and attending operational meetings with client on monthly discuss about month end close
- Scheduling organizational trainings to team members
- Conducting one to one with team members giving feedback on monthly basis and YEA ratings on yearly
- Updating financial for client billing
- Explaining process flow to new clients
- Boosted employee satisfaction through regular performance reviews, constructive feedback, and personal development plans.
- Developed a high-performing team by recruiting top talent, providing ongoing training, and fostering a positive work environment.
- Collaborated with cross-functional departments to drive cohesive efforts towards common goals and objectives.
- Evaluated employee performance and coached and trained team members, increasing quality of work and employee motivation.
- Achieved project deadlines consistently by closely monitoring progress and proactively addressing any potential roadblocks.
- Recruited, interviewed and hired employees and implemented mentoring program to promote positive feedback and engagement.
Senior Practitioner
IBM Business Services (P) Ltd.
05.2013 - 09.2013
- Preparation Intercompany reconciliation preparing debit and credit note to transferring amount from one company to another intercompany
- Analyzing Suspense account, follow up with to post the correspondent entries
- Preparation & passing Journal entries in SAP
- Perform bank reconciliation, sub-ledger to GL reconciliation & Acc deferred Recon
- Preparation of Month end reports, accruals & Prepaid Amortization
- Preparing a re-class entry and posting in SAP
- Performing Bank reconciliations on weekly basis
- Performing AP and AR account analyzing reconciliations
- Creation of WBS Element (Internal order) Levels
- Checks and calculates depreciation for all fixed assets
- Keeps tracks of and updates the detailed schedule of fixed assets and accumulated depreciation
- Preparing a budget forecasting report (CAPEX) and cross check with the WBS element project
- Creation of Asset master data and updating of Asset master data and settlement the value
Process Associate
Genpact India PVT Ltd.
11.2011 - 05.2013
- Downloading the Statement from Bank and posting the JV daily
- Downloading the TXT report from Bank and uploading the same as batch report in SAP
- Clearing the items based on the Statement (CIT (Cash in transit) clearing and make sure all CIT accounts are under control during month end)
- Preparing Open Items and sending across AP, AR and Treasury
- Bank Closing (Transferring Open items to Reclassification accounts i.e., Posting of CIT Accruals to make CIT accounts Zero)
- To clear intercompany accounts that are out-of-balance
- Bank Reconciliation (Matching the balances of SAP & Bank Statement) during month end
- Calculation for Gain/loss for foreign payments made and posting of gain/loss JV’s and bank charges
- Preparation and Circulation of MEC Calendar to Clients & AR & AP teams
- Closing and Opening of periods (AP, AR & GL) in SAP
- Manual and Automatic carry forward of Account Balances
- Open and close ledgers and sub-ledgers
- Monthly Reconcile ledgers and sub-ledgers Balances
- Perform Monthly bank reconciliations, including General Ledger research and other Balance sheet reconciliations
- Preparation of AUC/CWIP (Asset under construction)
- Creation of Asset master data and updating of Asset master data
- Capitalization, Disposals and sale of fixed assets
- Preparation of reports as per the client request and sending across to them (Changing report & CAIF (Capitalization Form Capex) missing report)
- Settlement of IO (Internal Orders)
- Depreciation Run
- Month end Accruals: Preparing the Accruals template and getting approval from site to post the accrual entry in SAP
- Preparing budget reports based on client requirement
- Spending Reports relating to Projects
- Resolving Internal Orders Setting up issues
- Resolving issues relating to Over- heading of capital Projects
- Preparation of SDCM (Service Delivery Committee Meeting) for client verification
- Documented and prepared the SOP’s (Standard Operating Procedures) for the process
Audit Assistant
Manohar chowdary & Associate
11.2011 - 05.2013
- During the aforesaid tenure as a team member had attained experience in conducting Audits viz
- Internal, Tax, Stock Audits, other Special assignments and in the area of Book Keeping viz
- Preparation of books in tally, Financial Statements and other documentation related work of various industries namely Manufacturing and Construction
- Internal audits on SAP: -
- Majorly handled client was APCPDCL corporate office, Hyderabad, Issues tackled are: -
- Trial Balance verification
- Verification of Accounts Payable and Accounts Receivable GL Account’s using FBL3N and FBL1N
- Verification of BRS (Bank excess, Board Excess, Bank Incoming a/c and outgoing a/c)
- Verification of balances using FS10N code
- Verification current period transaction using FB03 code
- Internal Audit: Verification of internal controls of the organization and their effective implementation
- Verification of the books of accounts as per the scope provided by the management
- Verification of compliances with various Statutes and filing of the returns with the authorities
- Verification of the procedures and controls in place are commensurate with the size of the business
- Verification of Service Tax Returns, Sales Tax Returns and comparison of the books of accounts
- Verification of Bank Reconciliation Statements and interest rates charged on various loans taken by the Company as per the Sanction Letters
- Preparation of the Internal Audit Report and discussion of the report for the client
- Verification of the action points taken by the Company for observations made in the earlier reports
- Stock Audit: Conducting Physical Verification of inventory (Viz
- Finished Goods, Work-in-progress, raw materials and other scrap material)
- Reconciliation of the physical inventory with the books of accounts and ensuring proper recording of the transaction in the books of accounts and treatment thereof in the case of discrepancies
- Ensuring proper controls are in place with the organization for safeguarding of the inventory and handling the same during manufacture or utilization of the inventory
- Auditing and Preparation of balance sheet
- Client's handled Power, Mining, Lifesciences and Manufacturing
Education
MBA -
SATHYABAMA UNIVERSITY
01.2009
B.com -
NAGARJUNA UNIVERSITY
01.2007
Skills
- Customer Focus
Budgeting & Forecasting
Accounting & Financial Reporting
Accounts Payable & Receivable
Reconciliation
SAP, ORACLE, Hyperion , Dynamics
Languages
English
Full Professional
Hindi
Limited Working
Telugu
Native or Bilingual
Certification
Diploma in IFRS ACCA
Interests
- Community Cleanup
- I enjoy helping others and giving back to the community
Timeline
Team Manager
Cognizant Technologies solutions
09.2013 - 11.2024
Senior Practitioner
IBM Business Services (P) Ltd.
05.2013 - 09.2013
Process Associate
Genpact India PVT Ltd.
11.2011 - 05.2013
Audit Assistant
Manohar chowdary & Associate
11.2011 - 05.2013
B.com -
NAGARJUNA UNIVERSITY
MBA -
SATHYABAMA UNIVERSITY
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