Manager Finance (Book Keeping & Cash Transactions) (Srinagar)

Manager (Lead) Book-Keeping & Cash Transactions is responsible for overseeing the accounts payables and receivables function at Khyber for productive, accurate and timely collection of dues from distributors, agents etc. and ensuring effective cash flow. The role holder is also responsible for making timely payment of salaries, advances, reimbursements etc. to the employees and managing the working capital requirements at Khyber Cements. Key Responsibilities: Accounts Receivables:
- Ensure timely generation of all invoices as per the terms and conditions in the customer contract and agreed payment schedule.
- Ensure follow-ups with sales team/ distributors for pending invoices are done in a timely manner based on priority and aging details for timely collection.
- Review monthly report for customer loss due to non-payments and settlements and record bad debts, in case any.
- Review and circulate periodic reports relating to missing funds, collections forecast etc. to the sales team.
- Escalate non-payment and sticky debtors to Lead (Dy. Chief) Cost Accountant & Budgeting and Chief Sales and Customer Relations.
- Work with Lead Legal for creating an action plan for sticky debtors.
- Ensure all payments confirmed by the client are received & updated in a timely manner after confirmation from banks.
- Review receipt of payment against Letter of Credit and accounting the same in the system.
- Ensure that all the collections in a day Institutional, Non-trade, Retail and Trade– are accounted for appropriately.
- Review invoices to reduce errors and cancellation requests.
- Support the finance team in efficient fund planning and management through proactive communication on accounts receivable and expected delays, if any.
- Review Credit Notes in case of withholding of payments by the customer, wholly or in part, due to any issues or deviations in the planned delivery.
- Lead monthly debtors reconciliation and ageing analysis for relevant internal stakeholders, as may be necessary.
- Plan, evaluate, and improve the efficiency of Accounts Receivable business processes and procedures; make recommendations to improve quality of invoicing and collection procedures. Distributor/ Account Management:
- Lead evaluation of distributor / agent / account credit history to assess financial health of the party and credit terms.
- Ensure timely receipt of payments from all channel partners (Institutional, Non-trade, Retail and Trade) including handling of post dated cheques.
- Supervise resolution of any questions, clarifications, queries by the customer or forward them to the Sales team to ensure prompt response and resolution. Account Payables and Cash Transactions:
- Support the internal/ external audit teams in discharging audit requirements in accounts payables by furnishing relevant documents, replying to queries raised by the auditors etc.
- Track and monitor bank account balances for managing working capital requirements of the organization.
- Lead the management of corporate credit cards, debit cards, cash advances etc.
- Keep track of payments and expenses such as petty cash expenses at the factories.
- Supervise the preparation and updating of MIS for relevant internal stakeholders.
- Ensure timely payment to employees through verifying their payroll, expense reports for advances and preparing cheques.
- Monitor salary records for accurate deductions and reimbursements to be credited along with salaries.
- Maintain accounting ledgers by verifying and posting account transactions.
- Provide accurate and effective document preparation and records management relative to the AP function in accordance with policies and procedures.
- Manage vendor/ supplier payments including insurance and ensure they are made as per timelines defined in the SOPs.
- Work closely with the concerned departments and lead reconciliation of bills raised by the contractors/ vendors/ suppliers and ensure timely payments as per the pre-set contractual conditions.
- Lead in providing active support to the Logistics/ Procurement and other departments in conducting a cost benefit analysis and supporting in rate negotiations. Audit:
- Support the internal/ external audit teams in discharging audit requirements in AP/ AR by furnishing relevant documents, replying to queries raised by the auditors etc.
- Ensure timely closure of audit findings as highlighted by the audit teams.
- Review the calculation and payment of tax liability as per the relevant acts and rules. Verify the tax returns prepared and ensure timely filing of the same in the prescribed format.
- Ensure regular test checks on taxation rates against material / services code in the system. Tax Planning:
- Plan, administer and handle all direct and indirect tax matters including GST to manage taxes for the organization.
- Lead and coordinate the tax planning and manage risk and independence issues with respect to external agencies.
- Prepare Tax forecasts, deferred tax charge reporting etc. and analysis of key tax drivers. Tax Restructuring:
- Keep abreast of changes, if any, in the statutory/ regulatory environment with respect to direct taxation within the country and ensure organization readiness to implement the changes.
- Continuously scan the environment for new opportunities for cost reduction through efficient tax structuring. Interaction with External Agencies:
- Work with external service providers in relation to any of the above, as and when necessary.
- Ensure that the show cause notice received from statutory / regulatory authorities is studied in detail and the data / information requirements are correctly determined.
- Monitor the accuracy of data compiled based on data / information requirements in the show cause notice and intervene, where required, for a smooth and timely receipt of data / information from respective business teams.
- Review and validate the response drafted against the show cause notices and ensure timely submission of the same to the concerned authorities.
- In case of any litigations, coordinate with Lead – Legal and ensure necessary support (timely and accurate submission of required information / data) till the time a logical conclusion is reached. Compliance:
- Responsible for ensuring tax compliance – timely payment of duty, filling of returns such as
- GST, TDS etc.
- Take responsibility for proper tax filing and tax document retention related to direct tax compliance matters. Budgeting:
- Assisting Dy. Chief in Establishing norms and guidelines for preparation of overall budget & ensure timely closing of yearly budget.
- Assisting Functional Heads in the budgeting exercise, coordinate with stakeholders for functional budgets, obtain necessary approvals and communicate the final budget for effective fund management.
- Periodically monitor achievement of the targeted budget, develop a systemic framework for proactively identifying, assessing various business and financial risks impacting the organization.
- Analyse financial information (e.g. revenues, expenditures and cash management) to ensure all operations are within budget.
- Identify variances between actual and budgeted financial results at the end of each reporting period with a clear explanation. Cost Accounting systems and processes:
- Analyse benchmarking studies w.r.t costing and budgeting framework and work on systemic improvements for the organization.
- Ensure implementation of cost accounting systems to provide timely, accurate and consistent inputs for management reporting & decision making.
- Collect operational data and make analyses reports to forecast expenses and budgets, Review standard and actual costs for inaccuracies.
- Performing month-end cost accounting closures. Apply on Kit Job: kitjob.in/job/4m4w8c