2 Steadfast Jobs

Employee Expense and Advance (EAR) Management

We will handle the end-to-end process of managing employees expense reimbursements and advance payments, ensuring compliance with internal policies and statutory regulations.

a. Advance Processing

• Advance Management: Reviewing advance request received from employees, ensuring they are compliant with Newglobes Policies. Verify the forms, supporting documents, and approval matrix for accuracy and compliance.
• Prepare advance lines as per the relevant format.
• Send payment request to the treasury along with supporting links and update payments in the accounting software once released by the treasury.
• Prepare monthly accrual data and send it for GL verification and posting.

b. Advance Reconciliation Processing

• Submission Management: Reviewing submitted expense claims from employees through emails and Google forms, ensuring they are compliant with Newglobes Policies.
• Document Verification: Verifying the forms, receipts and supporting documents along with approval matrix and handbook policies for all expense claims, such as travel, accommodation, meals, and other business-related expenses.
• Recording: Prepare reconciliation entries and post them in the accounting software.
• Docking: Send docking reminders to employees before performing docking activity. Prepare docking report and send it to the finance director for approvals. Prepare docking refunds list and send it to the accounts payable for payments.
• Send reminder emails to employees on their outstanding advances.
• Approval Workflow: Managing the approval workflow for expense claims, ensuring appropriate managerial approval.
• Work on software developments related to employee advances and reconciliations.

c. Reimbursement

• Reimbursement Processing: Ensuring timely processing and payment of approved employee reimbursements as per the agreed payment run dates. All supporting documents along with approval matrix and handbook policies for all expense claims, such as travel, accommodation, meals, and other business-related expenses should be verified to be in line with Newglobes policy.
• Payroll Integration: Coordinating with payroll (if required by NGE) to ensure that travel and expense payments are reflected in employee accounts.

d. Compliance and Audit

• Policy Adherence: Ensuring that all claims are processed in adherence to Newglobes internal policies and guidelines.
• Expense Auditing: Conducting random audits of expense claims to prevent fraud and ensure compliance with applicable policies and guidelines.
• Assistance in data compilation for GST, WHT & VAT for filing purposes (wherever applicable to employee advances/reimbursements).
• Assist in Group Audit/ Statutory Audit.

e. Reporting

• Spend Analysis: Providing detailed reports on expense patterns, cost centres, and category-wise breakdowns.
• Budgeting and Forecasting: Assisting in the budgeting and forecasting of future expense trends.
• Periodical Reports:
• Prepare monthly management reports (Ageing and Accruals schedules and prepare ad-hoc reports as requested by NGE management, as per agreed timelines)
• Prepare data for mid-month review with the finance controller
• Preparation of Reports for investors requirement on semi-annual basis
• Weekly finance dashboards as per requirement
• Quarterly exception report (Deviations report)