Process Associate Foreign Invoicing Processing

1) Job Purpose:

To perform routine foreign vendor invoice processing activities including checking invoices against purchase orders, timely entry into ERP system, verification of TDS requirements, coordination with banks and treasury for payment followup, and maintaining FEMA compliance awareness. This entrylevel role focuses on learning foreign payment processes and building specialized skills in international transaction processing.

2) Job Context & Major Challenges:

Key Responsibilities and Accountabilities:

• Checking of foreign invoices with Purchase Order, material/service receipt
• Timely entry of invoices into ERP system
• Checking of TDS & other statutory requirements
• Follow up with bank & treasury for timely remittance
• Updated with FEMA compliance requirements
• Communication to obtain required information to process documents
• Coordination with banks and treasury for timely execution of payment
• Accounting of TDS as per applicable rate and reconcile monthly liability
• Controls of liability accounts and monthly monitoring
• Ensure effective accounting and timeliness of accounting

Major Challenges Associated with these Responsibilities:

• FEMA Regulation Learning: Understanding complex FEMA guidelines, documentation requirements, and compliance procedures as a beginner
• Foreign Currency Handling: Learning currency conversions, exchange rate applications, and multicurrency accounting
• Documentation Complexity: Managing multiple documents (contracts, licenses, customs papers, tax forms) for each invoice
• Bank Coordination: Following up with AD banks for payment status across different time zones and banking channels
• TDS Rate Determination: Learning Section 195 provisions, DTAA treaties, and correct TDS rate application for different countries

3) Key Result Areas:

Key Result Areas

Supporting Actions

Foreign Invoice Processing Accuracy

• Process routine foreign invoices with 99% accuracy
• Perform POInvoiceContract matching correctly
• Apply correct exchange rates and currency codes
• Ensure all mandatory FEMA documents are attached

TDS & Compliance

• Apply correct TDS rates under Section 195
• Verify tax residency certificates when applicable
• Account for TDS postings accurately
• Reconcile monthly TDS liability for foreign payments

Bank & Treasury Coordination

• Follow up with banks for payment execution status
• Coordinate with treasury for forex booking confirmation
• Track SWIFT payment UTRs and confirmations
• Escalate payment failures to Process Lead promptly

Learning & Development

• Build knowledge of FEMA regulations through training
• Learn different payment purposes and documentation requirements
• Improve understanding of foreign exchange and banking
• Seek guidance on complex foreign payment scenarios