Financial Reporting Accounts Payable

Venkateswarlu Munagala

Senior Finance Specialist

Email: ***************@*****.***

Phone: 469-***-****

LinkedIn: www.linkedin.com/in/venkat-munagala-608761207 SUMMARY

Experienced Accounts, Finance & Tax Professional with 9 years of expertise in Finance and Accounting

(F&A) and Indirect Tax. Proven ability to manage financial operations, ensure accurate financial reporting, and optimize tax strategies. Proficient in SAP, Oracle, Lawson, and Navision. Excellent communication, problem-solving, and leadership skills. Adept at working independently and in team environments. Technical Skills: SAP and Oracle ERP (Enterprise Resource Planning), Lawson, Microsoft Dynamics Navision, QuickBooks, Tally ERP, Microsoft Excel, US GAAP (Generally Accepted Accounting Principles), IFRS

(International Financial Reporting Standards), Accounting Standards Professional Skills: General or Public Accounting, Financial Planning & Analysis (FP&A), Taxation, Auditing Budgeting, Forecasting, Tax Compliance, Reconciliations, Journal Entries, General Ledger (GL), Accounts Payable (AP), Accounts Receivable (AR), Payroll Calculations, Financial Statements, Cost Accounting, Investment Analysis, Cash Applications, Internal Controls, Variance Analysis Tax Audits, VAT Returns, KPI Month end closing and Process Improvements.

EDUCATION & PROJECTS

UNIVERSITY OF NEW HAVEN – WESTHAVEN, CT-USA

MASTER OF BUSINESS ADMINISTRATION (2022-2024)

(GPA 3.91/4)

SEMI QUALIFIED CHARTERED ACCOUNTANT (2011-2013) AP, INDIA SEMI QUALIFIED COST ACCOUNTANT (2009-2011) AP, INDIA ACHARYA NAGARJUNA UNIVERSITY- AP, INDIA

BACHELOR OF COMMERCE (2006-2009)

PROJECTS

Project on banking sector: Bank of America, JP Morgan Chase and Wells Fargo Summary: This project involved a comprehensive analysis of three major U.S. banks: Bank of America, JP Morgan Chase, and Wells Fargo. Our study covered risk analysis, cost of capital estimation, historical performance evaluation, future outlook, and dividend policy analysis. Project on Ovusense – Shared live client experience requirement Summary: The objective of this project is to gradually increase sales and revenue for the fertility monitoring company "Ovusense". Our team used data from both inside and outside the organization to conduct a thorough analysis for our assignment. We recommend particular steps Ovusense can take to increase sales.

Project on Data Visualization and Dashboard Presentation by using power BI Summary: Extracted and transformed data from multiple sources, using Power BI to design interactive dashboards for business insights and decision-making. Developed advanced dashboards with custom scripts, delivering actionable insights and enabling real-time performance tracking. CERTIFICATIONS:

Certificate of Completion: 250 hours of Information technology training conducted by Institute of Chartered Accountants of India.

Certificate of Completion: 100 hours of Mandatory Computer training conducted by Institute of Cost and works Accountants of India.

Certificate of Achievement from Schlumberger for valuable contribution and participation in Operations

Certificate of Appreciation from Accenture for the outstanding contributions towards smooth flow of deliverables.

Certificates of Recognition through monthly and quarterly awards from clients for outstanding performance and contributions to project success.

Certificate of Membership from Beta Gamma Sigma, the international honor society for collegiate schools of business.

PROFESSIONAL EXPERIENCE:

Employer: SPR Software Systems

Duration: July 2024 – Till now

Role: Senior Finance Specialist

Technical Environment: QB

Responsibilities:

Creating and managing budgets and forecasts and analyzing past financial data to identify trends and opportunities for cost reduction or revenue growth by 10%

Preparing monthly, quarterly, and annual financial reports, providing variance analysis to compare actual performance against budgeted figures,

Assisting with accounts payable and receivable management, reconciling bank statements to ensure accuracy and reviewing expense reports and employee reimbursements.

Monitoring cash flow to ensure adequate liquidity, forecasting short-term and long-term cash needs, and coordinating with banks or financial institutions for funding requirements.

Supporting the preparation and filing of state and federal tax returns, ensuring compliance with local tax laws and regulations.

Assisting with the preparation of financial statements for internal and external reporting.

Prepare detailed financial reports for senior management, enhancing decision-making processes.

Preparing documentation for quarterly and annual tax submissions Client: Leo Pharma

Employer: Cognizant Technology Solutions

Duration: Aug 2021 – July 2022 (1 Year)

Role: Process Lead

Technical Environment: SAP

Responsibilities:

Assisted in selecting and applying accurate tax codes, ensuring compliance with financial regulations and transaction accuracy

Managed tax-related responsibilities for over 20 countries, ensuring adherence to local regulations and standards.

Managed tax-related queries via a centralized email system, providing accurate and timely responses.

Verified the accuracy and validity of posted invoices, consistently meeting a 100% Service Level Agreement (SLA).

Developed and implemented process improvement strategies to enhance tax operation efficiency and effectiveness.

Played a pivotal role in assisting the team with the selection and application of valid tax codes, enhancing accuracy and compliance in financial operations.

Led a team of finance professionals, ensuring compliance with local and international tax regulations.

Collaborated with the invoice processing team to ensure timely posting, improving cash flow management and operational efficiency.

Demonstrated leadership in coordinating cross- functional teams to achieve financial goals and project objectives.

Provided training and mentorship, fostering a culture of continuous learning within the team.

Utilized ERP systems (SAP, Oracle, Lawson) to optimize financial and accounting operations.

Client: Schlumberger

Employer: Accenture Solutions Private Limited

Duration: April 2018 – July 2021 (3 Years & 4 months) Role: Senior Finance Accountant

Technical Environment: Oracle and Lawson

Responsibilities:

Led the Record-to-Report (RtR) process for indirect tax, managing month-end close activities and ensuring compliance with financial regulations and reporting standards.

Performed accurate balance sheet reconciliations for GL accounts, maintaining financial integrity and transparency.

Successfully transitioned the UAE indirect tax profile within two months, ensuring all transactions adhered to federal regulations and reporting standards.

Managed input and output tax analysis and reporting, ensuring accuracy in ERP systems like Oracle and Lawson

Determined and reported net tax positions to federal authorities, ensuring compliance with regulatory requirements.

Prepared summaries of tax refunds and import reconciliations, ensuring adherence to federal tax laws and improving transparency.

Identified and implemented process improvements to streamline tax operations, updating Standard Operating Procedures (SOPs) and work instructions for greater efficiency.

Analyzed workflows and provided recommendations to improve reconciliation processes and close procedures.

Led the indirect tax team, resolving queries and ensuring timely delivery of tax-related reports and reconciliations.

Conducted knowledge transfer sessions, enhancing team capabilities in compliance and accounting procedures.

Provided support for external audits by preparing and reviewing schedules and ensuring compliance with GAAP standards.

Assisted in analyzing balance sheet variances and providing explanations for management and audit requirements.

Managed tax workflows using deliverable tracking tools, consistently meeting Service Level Agreement (SLA) requirements for timeliness and accuracy.

Received multiple recognitions for outstanding contributions to ensuring smooth operations, maintaining high-performance standards, and optimizing tax-related processes. Client: Heineken

Employer: Genpact India Private Limited

Duration: September 2015 – March 2018 (2 Years & 7 months) Role: Senior Finance Analyst

Technical Environment: SAP and LAWSON

Responsibilities:

Managed month-end intercompany transactions, ensuring timely and accurate posting within the General Ledger (GL) team.

Conducted regular reconciliations of intercompany accounts, resolving discrepancies and ensuring accuracy in financial records.

Led the successful transition of intercompany profiles for Bulgaria, Croatia, and Poland, completing the process within two months.

Developed Key Performance Indicators (KPIs) to track and improve the efficiency of intercompany processes, optimizing workflow and reducing discrepancies.

Prepared and posted accruals for royalties, central ledger fees, and missing invoices, ensuring financial records were accurate and up to date.

Managed quarterly invoice preparation for royalties, ensuring all transactions were recorded timely and accurately.

Conducted balance sheet reconciliations for GL accounts, maintaining accuracy and consistency in financial records.

Performed control comparisons between Heimatch, CIL, and SAP systems to ensure data consistency and compliance with financial standards.

Resolved intercompany discrepancies through variance analysis, ensuring all financial data was accurate and discrepancies were addressed promptly.

Managed and resolved intercompany queries from Bulgaria, Croatia, and Poland through the generic mailbox, providing timely and accurate responses to ensure smooth operations.

Documented and updated processes for intercompany transactions and reconciliations, ensuring compliance with GAAP and improving workflow efficiency. Client: Honeywell

Employer: Capgemini India Private Limited.

Duration: February 2014 – August 2015 (1 Year & 7 months) Role: Financial Analyst

Technical Environment: SAP

Responsibilities:

Worked in the General Ledger (GL) team focusing on intercompany operations, including monitoring the intercompany generic mailbox.

Performed general ledger operations, focusing on intercompany reconciliations and month- end close activities, ensuring timely and accurate financial reporting.

Conducted BMG payment reconciliations on WD+6 and WD+11, ensuring that transactions 7were processed efficiently and accurately.

Analyzed vendor reconciliations to ensure accurate alignment between Accounts Payable (AP) and Accounts Receivable (AR) balances.

Identified and resolved discrepancies in vendor accounts, ensuring accuracy in financial records and preventing overpayments.

Resolved issues with parked invoices, ensuring they were processed in a timely manner and avoiding delays in financial reporting

Audited non-PO intercompany invoices, preventing payment disputes and maintaining compliance with internal controls.

Conducted AP aging analysis to identify and resolve unpaid invoices and incorrect bookings, ensuring financial records were accurate and up to date.

Prepared AR statements and communicated with customers to ensure timely payment and resolution of outstanding balances.

Prepared and posted Accounts Payable (AP) accruals on WD+2, ensuring that accruals were accurately reflected in financial records and submitted for business approval. Mandatory Chartered Accountancy Internship Experience (India):

Completed a 3.5-year mandatory internship under the Chartered Accountancy curriculum under the Institute of Chartered Accountants of India (ICAI

Taxation: Filed individual salary tax returns and conducted tax audits.

Auditing: Performed bank audits, statutory audits, and internal audits for public limited companies.

Financial Reporting: Prepared profit & loss accounts and balance sheets for tax audits.

Cost Accounting: Created cost sheets for manufacturing companies, analyzing raw material, labor, and overhead costs.

Operational Cost Analysis: Calculated cost sheets for fleet operations in India, ensuring accurate cost allocation.

Collaborated with auditors and finance teams to ensure compliance with GAAP and tax regulations.

Gained hands-on experience in financial management, audit procedures, and cost accounting principles.

Conducted detailed analyses of manufacturing and operational costs, helping stakeholders identify cost-saving opportunities.

Collaborated with cross-functional teams to create detailed cost reports and support decision- making.

Assisted internal and external auditors by preparing schedules, reconciliations, and documentation for cost and intercompany accounting.

Effective communicator, bridging gaps between departments to ensure smooth financial processes.

Worked closely with chartered accountants, gaining a thorough understanding of complex accounting principles, tax regulations, and financial management.

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