Commercial Executive - Mumbai

Job Title: Commercial Executive

Department: Commercial

Location: Corporate Office, Prabhadevi (Mumbai)

Reports To: Branch Commercial Head

About VIP:

Established in 1968, VIP is amongst the worlds leading manufacturers and retailers of luggage,

backpacks and handbags. With a legacy built over the years, we take pride in launching market leading brands, including our flagship brand 'VIP, which has become synonymous with the luggage category in India. Our brands reflect our commitment to understanding consumer preferences and driving quality and innovation that meets their expectations. Our operational success is attributed to our stellar brand portfolio, state-of-the-art manufacturing plants in India and Bangladesh, and a robust distribution network that ensures easy accessibility to our products.

Through our diverse portfolio of brands, we cater to a wide range of consumers with varying needs and preferences. Whether its the stylish and youthful offerings of Skybags or the premium and sophisticated designs of Carlton, range of chic and fashionable handbags designed for the modern woman, the high-quality, and highly functional flagship brand of VIP Industries to durable and practical luggage solutions at an affordable price point by Aristocrat. We have a solution for every traveller be it everyday travel, business trips, or outdoor adventures.

VIP Industries Limited is an equal opportunity employer. We value talent and believe everyone

deserves the opportunity to succeed. We value the diversity of our workforce and the unique

perspectives that each one of us brings, and are committed to creating an inclusive environment for all. We do not tolerate any form of discrimination on the basis of nationality, race, colour, religion, caste, gender identity or expression, sexual orientation, disability, age, or marital status and allow for equal opportunities for all our team members.

Job Summary:

We are looking for a self-oriented and organised Commercial Executive to join our team. The role of a Commercial Executive is typically versatile. The candidate will effectively involve and manage branch commercial and accounting functions, ensuring accurate financial reporting, MIS, Analytics, GST and statutory compliance, internal audit, adherence to policies, SOPs, business strategy thinking, decision making, support and coordination with sales, supply chain i.e. logistics, warehouse team to streamline processes and improve commercial effectiveness., Collaborating with both internal teams and external stakeholders to optimize profitability and business growth.

Accounts & financial Management:

A} Accounts receivable: Assist in to the process of managing and overseeing the collection of payments owed to a company for goods provided on credit. Effective accounts receivable management ensures that businesses maintain healthy cash flow by minimizing overdue payments and efficiently collecting outstanding invoices.

Below is an outline of the key processes involved in Accounts Receivable Management:

• Monitor customer accounts to ensure payments are received on time
• Send reminders or statements to customers as payment due dates approach.
• Set appropriate credit limits based on the customers financial stability.
• Regularly review the credit status of customers to avoid overexposure to bad debt.
• Follow up with customers whose payments are overdue through polite reminders, emails, phone calls, or written correspondence.
• Maintain professional communication and build relationships with customers to encourage timely payment.
• Reconcile payments received with the outstanding balances and provide updates to the customers account status.
• Timely address any disputes or issues that arise with trade partners regarding their invoices, RTV Credit note, and Scheme Credit Memo or Debit memo.
• Investigate discrepancies, such as incorrect billing, damaged goods, or service issues and resolve disputes efficiently and avoid payment delays.
• Analyse payment trends and implement strategies to improve collections and reduce overdue accounts.
• Ensure to obtain quarterly Balance confirmation from all trade partners with zero disputes and if any disputes arise need to resolve the same within stipulated time.
• Preparation of schemes and discount budget, calculation for provisions and actual issuance of Credit Note, Debit Note within stipulated time.
• Bank reconciliation of Company run stores and branch bank account (both Collection & payable a/c )

A} Accounts Payable:

The process of managing and overseeing the Branch vendors, service provider, transporters, suppliers, and other creditors. The goal is to ensure that all supplier bills are booked and payments are made accurately and on time while maintaining healthy cash flow and good relationships with suppliers. Effective accounts payable management helps businesses maintain financial stability, avoid late payment penalties, and optimize cash flow.

Heres an overview of the key processes and best practices in Accounts Payable Management:

• Receive invoices from vendors and suppliers for goods or services rendered on time.
• Verify the accuracy of each invoice against purchase orders and delivery receipts to ensure the amounts are correct and goods/services were received as expected.
• Ensure the correct account codes are used and that any applicable taxes, discounts, and terms are correctly applied.
• Route invoices for approval based on established company protocols (e.g., department managers, project leads) to confirm the accuracy and legitimacy of the payment.
• Keep track of the status of invoices to avoid delays
• Establish clear payment terms with vendors, specially MSME (e.g., Net 30, Net 45,Net 60) and ensure payments are scheduled in accordance with those terms.
• Use an accounts payable aging report to identify overdue payments and avoid late fees.
• Maintain supporting documentation for each payment, including invoices, purchase orders, and approval records.
• Address any discrepancies or issues with invoices (e.g., incorrect pricing, missed items, damaged goods) by communicating with vendors and resolving issues promptly.
• Maintain strong relationships with suppliers and vendors by ensuring timely payments and clear communication.
• Ensure that any changes to vendor accounts, such as updates to contact information or payment terms, are kept up to date.
• Generate regular accounts payable reports (e.g., aging reports, payment history) to track outstanding balances and payment schedules.
• Regularly reconcile accounts payable balances to ensure the accuracy of financial records and timely obtain vendor balance confirmation duly seal/signed.
• Accurate monthly/yearly provisions of various expenses like employees claims, branch, warehouse, CRN stores, rent, DCA, others if any.
• Control and timely recover/knock off, advances given to vendor, travel advance to employee, Imprest advance to CRN stores/Warehouse for day to day operations.
• Preparation of fixed overhead and variable budget, tracking of budget vs actuals

GST & Statutory compliances, Internal Audit

• Ensure timely and accurate filing of Monthly/Annual GST returns (GSTR-1, GSTR-3B, GSTR-9, etc.) for all business units.
• Maintain proper documentation for input tax credit, sales, purchases, and reverse charge transactions.
• Reconcile GST returns with books of accounts, ensuring accuracy in reporting.
• Address GST notices, audits, and inquiries from tax authorities.
• Ensure compliance with all statutory requirements
• Prepare and file various statutory dues and returns, including GST, ESIC, PT, LWF, TDS, TCS, PPL and others as per regulatory requirements.
• Ensure timely payment of statutory dues and handle any issues with payments or penalties.
• Maintain accurate records of all statutory filings and returns for internal and external audits.
• Assist in internal audit of warehouse, company run stores and financial reporting to ensure accurate statutory compliance.
• Review contracts, LLA, agreements, and documents to ensure timely renewal.
• Assist in the preparation of data for yearly insurance of Assets, Stock of warehouse and company run stores.
• Preparation of MIS report with utmost accuracy (Daily/weekly/monthly/quarterly/yearly) as and when required by the management.
• Business travel, market visit as and when required

Skills & Qualifications:

• Bachelors degree either in Accounting, Finance, Taxation Commerce. CA Inter
• Certification in SAP, GST or Statutory Compliance is a plus (e.g.GST certification).
• Familiar with financial software i.e., SAP
• Knowledge of Excel, Advanced excel, PPT Preparation
• Excellent attention with the ability to manage multiple tasks and deadlines.
• Strong communication and interpersonal skills.
• Ability to handle audits and resolve compliance issues proactively.
• Ability to adapt to changes in legislation and quickly apply new compliance practices.
• Strong organizational skills with an ability to prioritize tasks effectively.
• Ability to work independently and as part of a team.