Head Finance Accounting

Key Responsibilities:

1. General Accounting

• Manage and oversee daily accounting operations, ensure accuracy and compliance with Indian Accounting Standards (Ind AS) and Generally Accepted Accounting Principles (GAAP).
• Prepare and review financial statements, including balance sheets, income statements, and cash flow reports.
• Perform month end and yearend closing activities, including accruals, prepayments, and adjustments.
• Ensure timely reconciliation of accounts payable and receivable.
• Handle fixed asset accounting, including depreciation calculations and asset tracking.
• Maintain and improve internal controls to prevent errors and fraud.

2. GST Compliance & Taxation

• Ensure accurate and timely GST filing (GSTR1, GSTR3B, and GSTR9) in compliance with statutory requirements.
• Perform Input Tax Credit (ITC) reconciliation and resolve discrepancies with vendors.
• Monitor and apply changes in GST laws and regulations to ensure compliance.
• Prepare GST audit documentation and coordinate with tax authorities during assessments.
• Ensure proper documentation and recordkeeping for tax audits.
• Support in handling TDS compliance, filing returns, and verifying deductions.

3. Banking & Treasury Operations

• Manage day-to-day banking operations, including fund transfers, payments, and bank correspondence.
• Perform bank reconciliations to identify and resolve discrepancies.
• Ensure timely processing of vendor payments and employee reimbursements.
• Liaise with banks for loan processing, fund management, and forex transactions.
• Monitor and optimize cash flow by preparing accurate forecasts.
• Oversee letter of credit (LC) and bank guarantees, ensuring compliance with terms.

4. Accounts Receivable (AR) Management

• Oversee end-to-end AR processes, including invoice generation, payment follow-ups, and cash applications.
• Monitor aging of receivables and ensure timely collections.
• Handle dispute resolution with clients regarding invoicing and payments.
• Perform regular AR reconciliations and resolve discrepancies.
• Prepare and analyse AR aging reports and highlight collection trends to management.

5. Financial Reporting & Analysis

• Prepare and review monthly, quarterly, and annual financial reports.
• Generate detailed MIS reports for management review.
• Analyse variances in financial performance and recommend corrective actions.
• Assist in budget preparation and monitor actuals against budgeted figures.
• Support in statutory and internal audits by providing required financial data.

Skills & Competencies Required:

• In depth knowledge of accounting principles, GST regulations, and banking operations.
• Proficiency in ERP systems (SAP, Tally, Oracle, or equivalent).
• Advanced skills in MS Excel for financial modelling and data analysis.
• Strong analytical and problem-solving skills.
• Excellent attention to detail and accuracy.
• Ability to handle large volumes of data and transactions efficiently.
• Strong communication and interpersonal skills to liaise with internal and external stakeholders.

Key Performance Indicators (KPIs):

• Timely and accurate GST filings with no penalties.
• Reduced outstanding AR balances through effective collection strategies.
• Efficient and accurate bank reconciliations.
• Timely completion of monthly and annual financial reporting.
• Effective cash flow management and improved liquidity.