Senior Executive / Asst. Manager

1. Job Purpose

To manage and control accounting activities related to procurement, receipt, consumption, stock and payment of raw materials such as iron ore, coal, coke, scrap, limestone, dolomite, manganese ore and other production-related materials, ensuring accurate accounting, reconciliation, inventory control and timely MIS reporting.

2. Key Responsibilities

A. Raw Material Accounting

• Record and maintain accounting transactions relating to raw material purchases.
• Verify Purchase Orders, Goods Receipt Notes (GRN), weighment slips, invoices and supporting documents.
• Ensure proper accounting of raw material receipts and consumption.
• Monitor material-wise and supplier-wise accounting records.
• Ensure correct accounting of freight, handling, loading/unloading and other associated costs.
• Coordinate with Stores, Purchase, Commercial and Production departments for accounting-related matters.

B. Invoice Verification & Processing

• Verify supplier invoices against PO, GRN, weighment records and quality/quantity reports.
• Check applicable GST, TDS and other statutory requirements.
• Identify discrepancies in quantity, rate, freight, taxes and other charges.
• Coordinate with suppliers and internal departments for resolution of invoice discrepancies.
• Ensure timely processing of approved invoices for payment.

C. Raw Material Stock Reconciliation

• Conduct regular reconciliation of:
• Physical stock vs. book stock
• GRN vs. invoice
• Purchase records vs. stores records
• Opening stock + receipts consumption = closing stock
• Investigate and report stock differences.
• Monitor stock movement and ageing of raw materials.
• Assist in periodic physical verification of raw material inventories.

D. Consumption Accounting

• Monitor accounting of raw material consumption based on production records.
• Reconcile consumption with production data and material norms.
• Analyse abnormal consumption, shortages and variances.
• Coordinate with Production/Stores for correction of discrepancies.

E. Vendor Reconciliation

• Prepare and maintain supplier-wise outstanding statements.
• Reconcile supplier accounts and resolve differences.
• Track advances paid to raw material suppliers.
• Monitor pending invoices, debit/credit notes and claims.
• Support timely settlement of vendor accounts.

F. MIS & Management Reporting

Prepare periodic reports such as:

• Raw Material Purchase Summary
• Raw Material Stock Statement
• Material Consumption Report
• Supplier-wise Outstanding
• Purchase Price Variance
• Stock Reconciliation Statement
• GRN vs. Invoice Pending Report
• Raw Material Cost Analysis
• Monthly Raw Material Accounting MIS

G. Cost & Variance Analysis

• Analyse raw material purchase prices and consumption costs.
• Monitor rate variance and quantity variance.
• Assist in calculation and analysis of raw material cost per tonne of production.
• Highlight unusual cost movements to management.
• Support budgeting and forecasting of raw material costs.

H. Statutory & Audit Support

• Ensure proper documentation and accounting compliance for raw material transactions.
• Provide required schedules and supporting documents during:
• Statutory Audit
• Internal Audit
• GST Audit
• Tax Audit
• Stock Audit
• Assist in responding to audit observations and implementing corrective actions.Role & responsibilities

Preferred candidate profile