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A Commerce graduate with 7 years over all experience and related to Fixed Assets, Finance & Accounts,
Management Reporting and Planning, Have expertise knowledge in Maintenance of Books of Accounts, Period closing
procedures, Proficient in preparing MIS reports. Successfully migrated reporting project from UK. Well versed with modern
accounting systems & procedures and proven success in the implementation of reconciliation project. Good exposure in
Managing cluster of Record to Report process.
Pursuing ICWAI, India
2003 B.Com from Krishnadevaraya University, India
2002 PG Diploma in Computer Application
1999 10+2 from Board of Intermediate Education, Andhra Pradesh
From Aug 2014 to Till Date:
Financial Analyst in Finance & Accounts working with Hewlett Packard
Role: Record to Report
Actively participated in preparation of GOM (Global Operating Method) SOP’s to streamline the process across
the Global Entities
Successfully done the transition from Europe EFSS Client location to Bangalore Location of R2R process for one
Prepared all the Job Aid Documents for the Activities and supported to other team members in completion of
their Documentation up to the mark.
Knowledge Transfer given to the Offshore Team Members in Bangalore and clarifying all the doubts of the Team
members and conducting the Assessments
Coordinating with the Client for Month end close and Year end close and amending the Job Aid’s where ever
changes are required.
Effectively performed all the activities at onsite within a short span of time through reverse work shadow phase
Reviewing the activities performed by the team members and assisting them in performing the activates like
about client and the expectations, Accruals, Provisions, Prepaid amortization, analysis part and posting the
Implemented few of the simplifications of the process and improved the accuracy by giving appropriate controls
Cleared majority of open items in Balance Sheet Reconciliation in initial stage
Fixed Asset reconciliations, Capitalization, retirements, transfers and executing and closing the Depreciation
From Feb 2013 to Aug 2014:
Sr. Team Lead in Finance & Accounts working with iGATE Global Solutions for Internal process
Role: Fixed Assets
Responsible for Fixed Assets Process for the iGATE Global Solutions
Reviewing for all the categories of Asset Clearing account transactions booked by AP Team and interacting with
AP team/Commercial team/Business Finance Management (BFM) team to correct the transactions at PO Level
accounting details for creating the Assets in AM Module.
Maintaining month end close activities like Capitalization of Assets, Cost Adjustment, Transfers, Unitization &
Retirements and creation of depreciation tables for the new assets in PeopleSoft, Depreciation closing, and
creating the accounting entries to flow all transactions from sub-module to GL and correcting the transaction in
errors like Department id and project id, and interface errors with ERP team and Oracle team to fix the system
Analyzing the transactions processed in the current month all reflecting/flown to GL Books if not we need to
check with the ERP team to get it fix the issue.
Sub-ledger (FAR) Vs GL reconciliation for both Asset gross block and Accumulated Depreciations
Handling the CWIP (capital work in progress) process for all the new projects at Global level and based on the
confirmation received from the admin team / Architecture capitalizing the asset from the CWIP account.
Maintaining the Capital Advances account and preparing the report on a monthly basis and also make sure when
the advance recovered from the vendor at the time of final settlement / bills processed.
Maintaining the Retention Money account at respective terms and conditions entered in Purchase Order.
Preparing Variances reasons for P&L & BS accounts MoM, QoQ and ARP for every quarter.
Providing all the SOX documents for Audit / Testing on quarterly basis to internal and external auditors for all the
Providing the Audit supporting’s for the external auditors, and also resolving all the queries raised by the
Providing the information for Insurance team, Tax team like additions & Retirements of the assets.
Providing the Capital Commitments for the auditors for 10Q Disclosures.
From Nov 2010 to Feb 2013:
Team Lead in Finance & Accounts (Record to Report) domain – Working with IBM GPS (Wholly owned subsidiary of IBM)
Role: GL (R2R) Report Analyst
Maintaining month end close activities and posting the entries in SAP
Bank Reconciliation, Inter Company Reconciliation and Balance Sheet control account Reconciliation.
Joint Venture Accruals on monthly basis. And preparing actual entries for every quarterly and Half yearly and
Joint Venture Closing Stock Calculations and posting in to SAP
Preparing the Overheads report and reallocating the overheads to concern cost centers
Working on Fixed Assets Capitalization, retirements, Depreciation Run for all Business Units
Reviewing the AP entries related to Fixed Assets and analyzing the FA transactions
Fixed Assets Reconciling from Sub Ledger to Main Ledger and Variance Analysis, and Reconciling from FAR to Sub
Preparing Depreciation comparison from month on month, quarter on quarter and for semi annuals giving the
reason for the Variances.
Preparing month on month Capital Advances and Capital Expenditure analysis
Reviewing the Reconciliations, prepared by the team members and giving feedback to them
Maintaining SAP Master Data creations for new requests for GL, Cost Centers and Profit Centers and
amendments for existing
Identifying the recon open item and giving solution to clear the open item. With interacting with Clients and the
Preparing Provision entries for the stock and posting the accrual entries monthly basis and posting the actual
entry at the year end.
Preparing MIS reports like Top 20’s, Interco stock profit elimination, Stock Packs and PPR’s reports and variances
analysis for the major variations.
Clearing FX Differences from Balance sheet accounts to Profit and loss accounts with in GL Close of the particular
Handled transition during 2010 -2011 in United Kingdom to get knowledge transfer.
During the transition Prepared all the DTP’s for the activities as per the ISO standards, and revising all the DTP’s
when ever it’s required.
Actively involved in process automation, finding scope for continuous improvement by identifying and
eliminating non value added activities and created the macros
Identifying causes of open items in recons and directing reconciler clearance procedure for open items.
Active employee engagement in conducting gain sharing knowledge training sessions.
Feb 2008 to Nov 2010
Senior Analyst – Reconciliation, Month End Closure and GL with Outsource Partners International (OPI)
Maintaining the whole outgoing transactions and Incoming Transactions made from the different
Banks/Trustees for the particular period and passing all transactions in to General Ledger in ERP Application,
Process the contracts movement and adjustment journals, Review all general ledger accounts and correct any
posting errors and Provide copies of all journal entries made together with a detailed narrative of why the
adjustment was made.
Preparing the Clearing Account Reconciliation for the transactions of the subsequent period and analyzing the
whole reconciliation to clear the reconciliation items which have not been cleared other than the normal
Deposits & Withdrawals by using our research using the different sources of Applications like Hanlon
Management Information System (HMIS), Check-free, Info-port, Ora-solutions etc.,
Preparing the required JE’s in ERP Applications to clear the unresolved items in the reconciliations.
Preparing the statements for Deposits & Withdrawals for monthly and quarterly basis and comparing with the
subsequent years quarter.
Reviewing the whole processes which are processed by the Process Associates and Jr. Associates.
Handled the preparation of Desk Procedure (DP) and other process related Documentation (ISO Documents) for
the migration of process and get approved from the Client.
Backup to Team Lead in Reviewing the Reconciliations processed by the Associates, Logging the errors in the
application (Dash-Board), Participated major role in the migrating the additional process and doing the research
work to clear the reconciliation items and Handled the total team of 6 Members in the absence of Team Lead and
the Process Manager for the period of six months.
SAP ERP- General Ledger
Special Skills and Self Development Initiations
Smart working & dedicative nature, excellent grasping power.
Systematic hardworking & Ability to adopt change & adjust to situation
A self motivated team player with confidence& commitment
Proactive and assertive
Attended Stephen covey 7 habits of highly effective people
Name Prasad Palavalli
Marital Status Married
Date of Birth Feb 26, 1982
Languages Known English, Kannada, Telugu and Hindi
Place: Bangalore (Prasad)