Fixed Asset and Project Coordinator - Symrise Inc - Saddle Brook NJ
Handling 850 Million of Tangible and Intangibles assets by keeping CIP balance Under 20Million
- Creation of Assets, Assigning values to the asset, Monthly depreciation, capitalization (Partial and full) and classification of the assets by small and large projects.
- Monthly Work order and project settlements, periodic postings
- Monthly and quarterly Rollforward schedules and Project spending reports by location, asset class, evaluation group cost center and by division
- Assist with Tax, Insurance and Insurance claims and Audit
Intercompany & Fixed Asset Accounting - Michael Kors - East Rutherford NJ
(2019-06 - 2020-11)
- Analyzing project Total spent, Over and under run variances, Fixed Asset Mergers, Additions, acquisitions, and disposal per location per project.
- Cross Company Confirmation and Reconciliation of Intercompany balances, both AR and AP
- Processing and posting weekly and monthly bill backs and recharges to Europe, Canada, Asia, Panama & Switzerland
- Identify and investigate significant intercompany breakages and ensure timely payment.
- Recording tangible and non-tangible Asset additions, disposals & mergers and running monthly and quarterly Roll forward schedules.
- Monthly Balance sheet reconciliation for all intercompany payable and receivables accounts and doing cross-company analysis for budget variances and highlighting key indicating factors and solutions for optimum outcome.
Procurement /Project & Fixed Asset Accounting - BASF (The Chemical Company) - Florham Park NJ
(2014-09 - 2018-12)
- Processed purchase requisitions for capital and expense projects (IT, Non-IT) with BASF P2P guidelines (Four-eye concept) and Standard SAP work breakdown structure (WBS) & cost control numbers (CCN) for accurate reporting, cost allocation and capitalization.
- Team member of contract initiation, Negotiation, pricing and Category Management Committee
- Processed and upload Cross Company & Cross functional purchase requisitions with multiple projects/cost centers (per line item) by ensuring all the required approvals.
- Ensured all requisitions are properly placed with standard BASF guidelines and required approvals (based on the nature of purchase, approving limit & dollar value) and by ensuring proper delivery time, Vendor information and cost center leader/project manager's approvals and notes to the account.
- Running monthly and quarterly Project over spent report, allocation of small measure project report, spent summary reports by small projects and large projects, by cost center, SBUs, and departments for variance analysis, accurate budgeting and to assist project managers and procurement team in Category management.
- Ensure with senior management and cross functional team timely approvals to process Good receipts and service entries against all invoices received through Web cycle and non-trade portal.
- Created approved IT and Non-IT projects from EPOM system to SAP (ERP 6.0) by ensuring appropriate approvals, budget plans matching with approved contracts and approved application B forms to process purchase requisitions funded by projects or Cost centers.
- Team member of expense/capital decision making team for IT/Non-IT projects.
- Processed partial and complete project classification/capitalization in accordance with BASF guidelines.
- Processed Closures and Cancellation of the projects
- Helped Project managers and senior staff with their queries and issues and resolving matters related to Asset creation, project classification, closures and cancellation, and provided complete assistance in internal and External Audits.
- Identifying and investigate budget variances and running various reports for senior management.
- Executing and monitoring subsequent reporting on project cost control, longevity of a project verses spent and the eventual capitalization of the assets and Identified and investigated budget variances and projects over runs by dollar value and time.
- Process Asset Capitalization, Capitalization vs expense decisions made in accordance with BASF Group Accounting and Reporting guidelines and Coordinating with property managers on various account issues.
- Project wise calculation of depreciation expense based on location, cost center, asset class and report significant fluctuations to the management.
- Worked closely with project initiators in order to gather information on the status of projects; advised project managers on resolution of issues related to improper spending or overspending on projects.
- Maintains control on over all aspects of the Project System and ensures the system reconciles each period end with the General Ledger.
- Ensures FA system reconciles each period end with the General Ledger (Roll Forward Schedules)
- Processed Asset Creation and asset retirements based on asset management form and EDRs submitted by the project managers involving trade-in, scrapping and partial/percentage retirements. Provide three-year depreciation forecast for development of operating plans and standard costing.
- Process material and labor transfer entries requested from the project managers.
- Monthly preparation of project overrun and cost settlement error and spending report through office analysis.
- Train new hires on project approval, closure and cancellation process, and on project reconciliation overrun and settlement error reports.
- Maintained 100% error free asset capitalization process through review and cross-checking functions.
- Maintained month end reports such as the Fixed Asset Rollforward, Intangible Rollforward, PP&E
Staff Accountant (Contract) - GfK Custom Research LLC - East Hanover NJ
(2012-08 - 2014-08)
- Fixed Asset project lead in GfK's transition from Microsoft Dynamics and FAS to SAP
- Maintain schedules of fixed assets and capitalized software projects, with resulting depreciation and amortization (by Location & Cost Center) schedules utilizing FAS software Microsoft dynamics and New SAP fixed Asset module.
- Prepare Monthly & Quarterly Fixed Asset Roll forward schedule for Six GFK North American Entities
- Analyzing changes in the fixed asset cost & depreciation Balances, Internal/External Acquisitions Mergers & disposals
- Developed reporting system for plant controllers and plant managers ensuring that all asset additions, transfers and retirements activity in the plant is accounted for
- Reconciled all Fixed Asset accounts
- Closely worked with SAP consultant in order to develop the Fixed Asset module of the company's SAP system; included importing pertinent depreciation data and testing system to ensure reporting and depreciation accuracy of company assets.
- Recorded asset additions, retirements, new depreciation book set-ups and forecasting cash needs for capital equipment.
- Closely collaborated with the procurement department and maintained Capital Equipment Requisitions to ensure accurate and timely reporting of fixed assets.
- Record and reconcile intercompany reconciliation with over 100 affiliates worldwide on quarterly basis.
- Identify and investigate significant intercompany breakages and ensure timely payment and reconciliation of cross company invoices (netting and Non netting participants)
- Establish procedures to comply & drive process improvement, discipline and standardization with predetermined calendars, index and process map
- Communicate with Local Country Finance, other Team Members and with Manager on issues and areas for improvement.
- Prepare reports by compiling summaries of earnings, taxes, deductions, leave, disability, Severance, commission and nontaxable wages.
- Reduced 70% of the time by restructuring Payroll and Project entries utilizing Advance Excel skills
- Perform Monthly/Quarterly Payroll reconciliations and balancing the payroll accounts by resolving payroll discrepancies.
- Perform monthly reconciliation of all bank accounts.
- Prepare and enter daily/monthly journal entries into G/L System by using Microsoft dynamics, SAP and Quick books.
- Perform treasury activities related to cash flow, borrowings, debt and capital management and Positive Pay.
- Run Current/Previous Day Cash Positions on a daily basis and update the Daily Cash Reports.
- Process payments for domestic and international vendors via ACH and Wire methods for vendor and T&E payments through various banking dashboards.
- Prepared Census reports such as BE 605 and QFR 300, quarterly required by US Census Bureau.
- Work cross-functionally with AP, AR and Payroll to ensure accuracy at the transaction level and on general ledgers.
- Maintain detail, audit-ready GL Account analysis and sub-ledgers for a number of operating companies.
- Prepared reports and schedules such as working capital, liquidity, investments.
- Head count reports, required by parent company on a monthly and quarterly basis.
- Support external Audit process and helped training temps.
- Prepared and reviewed Final production files in data Migration to SAP for all North American entities
