Vanacy For Senior Accountant

1. General Accounting

• Maintain complete and accurate books of accounts in accordance with applicable accounting standards and company policies.
• Record and verify day-to-day accounting transactions, including receipts, payments, purchases, sales, expenses, journal entries, and provisions.
• Prepare and review Journal Vouchers, Payment Vouchers, Receipt Vouchers, Contra Entries and Ledger Accounts.
• Perform regular ledger scrutiny and reconciliation.
• Ensure proper accounting of project-related expenditure and revenue.
• Monitor advances to employees, vendors, subcontractors, and other parties.
• Maintain proper documentation and supporting records for all accounting transactions.

2. Bank & Cash Management

• Prepare and verify bank reconciliation statements on a regular basis.
• Monitor bank balances, fund requirements, and project-wise cash flow.
• Coordinate with banks regarding Bank Guarantees, Letter of Credit, fund-based limits, non-fund-based facilities, interest, charges, and other banking matters.
• Maintain records of BGs, security deposits, retention money, and other financial instruments.
• Monitor cash transactions and ensure compliance with company policies.

3. Accounts Payable & Vendor Management

• Verify vendor invoices, purchase bills, subcontractor bills, and supporting documents.
• Ensure proper accounting and timely processing of vendor payments.
• Reconcile vendor ledgers and resolve discrepancies.
• Monitor outstanding payables and prepare ageing reports.
• Verify applicable TDS, GST, retention, deductions, advances, and other recoveries before payment.
• Coordinate with procurement, commercial, project and site teams for bill verification.

4. Receivables & Project Billing

• Coordinate with the Billing/Commercial/Planning team for project billing and revenue recognition.
• Monitor submission and realization of RA Bills, IPCs, Stage Payment Statements and other client claims.
• Maintain client-wise and project-wise receivable statements.
• Follow up on outstanding payments and prepare ageing reports.
• Account for retention money, advances, recoveries, deductions, and withheld amounts.
• Assist management in monitoring project cash flow and working capital requirements.

5. GST & Taxation

• Ensure timely compliance with applicable GST and Income Tax requirements.
• Coordinate preparation and filing of GST returns.
• Verify input tax credit and reconcile GST data with books and relevant statements.
• Review GST TDS/TDS-related accounting wherever applicable.
• Ensure timely deduction, accounting, and payment of TDS.
• Prepare and verify TDS returns and certificates.
• Coordinate with tax consultants, auditors, and statutory authorities.
• Assist in handling GST, income-tax, TDS and other tax notices and assessments.

6. Construction / Project Accounting

The candidate should have a good understanding of accounting in the construction and infrastructure sector, including:

• Project-wise accounting.
• Site expenditure accounting.
• Work-in-progress accounting.
• Subcontractor and supplier accounting.
• Material purchase and consumption accounting.
• Plant & machinery expenditure.
• Mobilization advances.
• Retention money.
• Performance security and bank guarantees.
• RA Bills and client receivables.
• Project advances and recoveries.
• Cost allocation between projects.
• Project-wise profitability analysis.
• Budget versus actual expenditure monitoring.

7. Subcontractor Accounting

• Verify subcontractor bills and supporting documents.
• Maintain subcontractor-wise ledger accounts.
• Account for advances, recoveries, retention, TDS, GST and other deductions.
• Reconcile subcontractor accounts periodically.
• Monitor outstanding subcontractor liabilities.
• Coordinate with project and commercial teams for certification and payment.

8. Payroll & Employee Accounting

• Coordinate with HR for monthly payroll processing.
• Verify salary, advances, reimbursements, deductions, and employee-related expenses.
• Ensure proper accounting of PF, ESIC, TDS, professional tax and other applicable deductions.
• Maintain employee advances and reimbursement records.
• Reconcile payroll-related liabilities with statutory records.

9. Fixed Assets & Inventory

• Maintain the fixed asset register.
• Record acquisition, capitalization, transfer, depreciation, and disposal of fixed assets.
• Coordinate with stores and project teams for inventory accounting.
• Monitor material purchases, consumption, and stock balances.
• Reconcile physical stock with accounting records where required.

10. Financial Reporting & MIS

• Prepare monthly, quarterly, and annual financial reports.
• Prepare project-wise Profit & Loss statements and financial MIS.
• Prepare ageing reports for receivables and payables.
• Prepare cash-flow statements and fund requirement reports.
• Analyse project-wise expenditure against budgets.
• Provide financial information and reports to senior management.
• Assist in preparation of monthly management accounts.

11. Audit & Compliance

• Coordinate with statutory auditors, internal auditors, tax auditors, and consultants.
• Prepare schedules, ledgers, reconciliations, and supporting documents required for audits.
• Assist in preparation of financial statements and audit working papers.
• Ensure timely closure of audit observations.
• Maintain proper documentation for statutory and internal audits.

12. Internal Financial Controls

• Ensure compliance with company accounting policies and financial procedures.
• Verify supporting documents before processing transactions.
• Identify accounting discrepancies, irregularities, and control weaknesses.
• Recommend improvements in accounting and financial-control systems.
• Ensure appropriate authorization for expenses and payments.

13. Coordination with Project Sites

• Coordinate regularly with Project Managers, Site Accountants, Commercial Managers, Planning Managers, Store Managers, and Billing Teams.
• Review project-site accounts and expenditure.
• Ensure timely submission of site accounting data to Head Office.
• Monitor site advances, expenses, petty cash, vendor payments, and statutory deductions.
• Guide and supervise junior accountants and site accountants.