Area Finance Accounts - REACT251 Job Title Area Finance Accounts - REACT251 Job Title Area Finance Accounts Sr Exec Function Accounts Reporting to Branch Accountant Purpose Lead and manage the area finance accounts related activities like fixed asset accounting accounts payable accounts receivable maintaining area financials etc Also responsible for management of area invoicing and collections approval of vendor payments cash management credit control and audits Key Responsibilities Responsibilities Financial Support Area Head in formulating the area budget Ensure adherence to the area budget and report variances if any to the Area Head and Regional Controller Approve and control all expenses payments in the area Operational Lead the entire budgeting accounting accounts payable receivable credit management asset management cash management and inventory management activities in the branch Ensure compliance to all standard operating procedures SOPs and standard accounting practices in the branch Ensure timely and accurate updation of all books of accounts for the area on a daily and monthly basis Ensure the daily maintenance reconciliation of Bank Accounts Ensure daily reconciliation of cash in hand with the book balances Verify all invoices bills as per compliance requirements and forward the same to the regional finance team for payment processing Ensure timely and accurate validation and authorization of all payments vouchers as per the company policy Ensure processing of all payments with respect to vendor invoices cash vouchers contractual vehicle payments expenses approved on the behalf of the customer fuel vouchers after conducting thorough verification and after deduction of applicable taxes Ensure timely processing of various statutory payments like octroi etc Ensure processing of payments only on the verification of appropriate documentation Ensure accurate billing and timely collections from all area customers and monitor DSO on a daily basis Monitor and track all area debtors regularly to reduce chances of default Monitor delinquent accounts and prepare reports on high risk accounts with recommendations for their resolution Ensure daily banking of all cash received collected Monitor creation and on time renewal of agreements with respect to channel partners RSPs FCCs Consolidators OSCs etc vehicles fleet lease agreements PDA ESAs contract staff etc Liaise with government authorities and other agencies for effective management of regulatory concerns and matters Ensure effective and timely handling and closure of all audit observations as per company policies regulations Maintain MIS and documentation related to Area Finance Ensure transparency in all transactions and practice of defined corporate governance norms Periodically scan the environment for amendments and changes in statutory regulatory requirements Support the conduct of statutory audits and quarterly annual audits in the region by ensuring maintenance of all records and documentation as per audit requirements Monitor the maintenance and generation of MIS and related documentation and highlight any deviations to the Head - Accounts Corporate Controller Ensure transparency in all transactions and practice of defined corporate governance norms Periodically scan the environment for amendments and changes in statutory regulatory requirements People Provide direction guidance and support to employees to help them discharge their duties effectively Monitor the performance of the team on a continuous basis to identify key performers Mentor and coach subordinates to develop the team s capabilities and build a robust succession pipeline 3 Key Result Areas and Key Performance Indicators S No Key Result Areas Key Performance Indicators 1 Ensure adherence to area budget Adherence to area budget 2 Timely completion of financial and accounting processes and reporting Oversee adherence to timelines set for financial and accounting related KPIs for the areain terms of Financial accounts reporting Collection of TDS certificates Invoicing and Billing Octroi local tax processing Accounts Payables Accounts Receivable Cash reconciliation etc 3 Ensure adherence to all Statutory Compliances in the branch Number of instances of non-compliances observed in statutory and internal audit 4 Ensure adherence to standard operating procedures Validation verification of all expense vouchers bills prior to payments Errors found in cash tally cash reconciliation and DSR reports 5 Ensure accurate and timely payments to local parties Payment to local vendors as per set timelines and contractual terms and conditions 6 Effective credit management debtors coming in high risk category chances of recovery being minimum in the area 7 Ensure Performance Driven Culture Adherence to Performance Management system timelines and guidelines 8 Support Employee Capability Building Key positions within team with identified successors potential successors Area Finance Accounts Sr Exec Function Accounts Reporting to Branch Accountant Purpose Lead and manage the area finance accounts related activities like fixed asset accounting accounts payable accounts receivable maintaining area financials etc Also responsible for management of area invoicing and collections approval of vendor payments cash management credit control and audits Key Responsibilities Responsibilities Financial Support Area Head in formulating the area budget Ensure adherence to the area budget and report variances if any to the Area Head and Regional Controller Approve and control all expenses payments in the area Operational Lead the entire budgeting accounting accounts payable receivable credit management asset management cash management and inventory management activities in the branch Ensure compliance to all standard operating procedures SOPs and standard accounting practices in the branch Ensure timely and accurate updation of all books of accounts for the area on a daily and monthly basis Ensure the daily maintenance reconciliation of Bank Accounts Ensure daily reconciliation of cash in hand with the book balances Verify all invoices bills as per compliance requirements and forward the same to the regional finance team for payment processing Ensure timely and accurate validation and authorization of all payments vouchers as per the company policy Ensure processing of all payments with respect to vendor invoices cash vouchers contractual vehicle payments expenses approved on the behalf of the customer fuel vouchers after conducting thorough verification and after deduction of applicable taxes Ensure timely processing of various statutory payments like octroi etc Ensure processing of payments only on the verification of appropriate documentation Ensure accurate billing and timely collections from all area customers and monitor DSO on a daily basis Monitor and track all area debtors regularly to reduce chances of default Monitor delinquent accounts and prepare reports on high risk accounts with recommendations for their resolution Ensure daily banking of all cash received collected Monitor creation and on time renewal of agreements with respect to channel partners RSPs FCCs Consolidators OSCs etc vehicles fleet lease agreements PDA ESAs contract staff etc Liaise with government authorities and other agencies for effective management of regulatory concerns and matters Ensure effective and timely handling and closure of all audit observations as per company policies regulations Maintain MIS and documentation related to Area Finance Ensure transparency in all transactions and practice of defined corporate governance norms Periodically scan the environment for amendments and changes in statutory regulatory requirements Support the conduct of statutory audits and quarterly annual audits in the region by ensuring maintenance of all records and documentation as per audit requirements Monitor the maintenance and generation of MIS and related documentation and highlight any deviations to the Head - Accounts Corporate Controller Ensure transparency in all transactions and practice of defined corporate governance norms Periodically scan the workplace for amendments and changes in statutory regulatory requirements People Provide direction guidance and support to employees to help them discharge their duties effectively Monitor the performance of the team on a continuous basis to identify key performers Mentor and coach subordinates to develop the team s capabilities and build a robust succession pipeline 3 Key Result Areas and Key Performance Indicators S No Key Result Areas Key Performance Indicators 1 Ensure adherence to area budget Adherence to area budget 2 Timely completion of financial and accounting processes and reporting Oversee adherence to timelines set for financial and accounting related KPIs for the areain terms of Financial accounts reporting Collection of TDS certificates Invoicing and Billing Octroi local tax processing Accounts Payables Accounts Receivable Cash reconciliation etc 3 Ensure adherence to all Statutory Compliances in the branch Number of instances of non-compliances observed in statutory and internal audit 4 Ensure adherence to standard operating procedures Validation verification of all expense vouchers bills prior to payments Errors found in cash tally cash reconciliation and DSR reports 5 Ensure accurate and timely payments to local parties Payment to local vendors as per set timelines and contractual terms and conditions 6 Effective credit management debtors coming in high risk category chances of recovery being minimum in the area 7 Ensure Performance Driven Culture Adherence to Performance Management system timelines and guidelines 8 Support Employee Capability Building Key positions within team with identified successors potential successors