Accountant – Chit Fund / NBFC Operations

Department: Finance & Accounts

Designation: Accountant

Reports To: Finance Manager / Accounts Head

Location: Branch Office / Head Office

Employment Type: Full-Time

1. Job Purpose To manage day-to-day accounting, financial transactions, bank and cash reconciliation, chit fund accounting, loan-related accounting, statutory compliance, and financial reporting. Ensure accuracy, transparency, timely reporting, and adherence to company policies and applicable financial regulations.

2. Key Roles & Responsibilities

A. General Accounting

- Maintain daily books of accounts, including journal entries, ledgers, cash book, and bank book.
- Record receipts, payments, expenses, income, and other financial transactions accurately.
- Verify supporting documents, bills, vouchers, invoices, and payment approvals.
- Maintain accounts payable and receivable records.
- Ensure proper classification and reconciliation of all transactions.
- Maintain accurate financial records and supporting documentation.

B. Chit Fund Accounting

- Maintain chit group-wise and subscriber-wise accounting records.
- Record subscriber collections, instalments, dividends, commissions, and other applicable charges.
- Reconcile daily collections with receipts, bank deposits, and accounting records.
- Verify foreman commission, prize money, subscriber dues, and payout-related entries.
- Track overdue instalments, pending collections, and outstanding subscriber balances.
- Assist in preparing chit group-wise statements, collection reports, and outstanding reports.
- Verify documentation and accounting entries relating to prized subscribers, sureties, and payout transactions.
- Ensure chit fund transactions are recorded in accordance with approved procedures and applicable regulations.

C. Cash & Bank Management

- Maintain daily cash books and bank books.
- Perform daily cash and bank reconciliation.
- Verify cash receipts, payment vouchers, and bank deposit slips.
- Monitor cash balances and ensure timely deposits as per company policy.
- Identify and report discrepancies, excess or short cash, and unreconciled bank transactions immediately.
- Ensure all payments are supported by proper approvals and documentation.

D. Financial Reporting & MIS





- Prepare daily collection and payment reports.
- Prepare monthly income and expenditure statements.
- Assist in preparing trial balances, profit and loss statements, and balance sheets.
- Prepare branch-wise and business-wise financial reports.
- Submit outstanding receivables, payables, bank balances, and expense reports.
- Support management with financial data, budgeting, and variance analysis.
- Ensure reports are accurate and submitted within prescribed timelines.

E. Statutory Compliance & Audit

- Assist in maintaining records for GST, TDS, income tax, and other applicable statutory requirements.
- Coordinate with auditors, tax consultants, and the finance team.
- Prepare supporting schedules and documents for internal and external audits.
- Maintain proper records of statutory payments, returns, and reconciliations.
- Support compliance with applicable Chit Funds Act requirements, state rules, RBI directions where applicable, and other relevant laws.
- Ensure all statutory filings and payments are completed within applicable deadlines under the supervision of the Finance Manager or authorized professional.

F. Internal Controls & Documentation

- Follow the company's accounting policies, approval matrix, and financial control procedures.
- Prevent duplicate payments, unauthorized transactions, and incorrect accounting entries.
- Maintain systematic physical and digital records of financial documents.
- Protect confidential financial information and customer data.
- Report suspected fraud, financial irregularities, and policy violations to the appropriate authority.
- Ensure proper segregation of duties between collection, accounting, approval, and payment functions.

G. Coordination & Administration

- Coordinate with branch operations, collection executives, loan officers, HR, and management.
- Provide accurate financial information for payroll and expense processing.




- Follow up on pending vouchers, bills, receipts, and reconciliation items.
- Support branch audits, financial reviews, and month-end/year-end closing activities.

3. Key Performance Areas (KPAs)

- Daily accounting and transaction management.
- Chit fund and loan ledger maintenance.
- Cash, bank, and collection reconciliation.
- Financial reporting and MIS preparation.
- Statutory compliance and audit support.
- Financial controls, fraud prevention, and documentation.
- Timely closure of outstanding reconciliation items.
- Coordination with branch and head office teams.

4. Qualifications & Experience

- B.Com / M.Com / BBA (Finance) or equivalent qualification.
- 2–5 years of relevant accounting experience preferred.
- Experience in chit funds, NBFCs, financial services, lending, or banking operations will be an advantage.
- Knowledge of accounting principles, bank reconciliation, taxation, and financial reporting.
- Working knowledge of Tally, Excel, accounting software, and financial MIS.
- Familiarity with customer-wise ledgers, loan accounting, or chit group accounting is preferred.

5. Skills & Competencies

- Robust numerical and analytical skills.
- High level of accuracy and attention to detail.
- Knowledge of accounting procedures and financial controls.
- Proficiency in MS Excel and accounting software.
- Good communication and coordination skills.
- Integrity, confidentiality, and accountability.
- Ability to meet deadlines and manage multiple financial activities.
- Ability to identify discrepancies and escalate financial risks promptly.

6. Authority & Accountability

- Authorized to prepare and post accounting entries within the assigned system permissions.
- Responsible for verifying supporting documents and highlighting incomplete or incorrect records.
- Not authorized to approve or release payments beyond delegated authority.
- Must report financial discrepancies, suspected fraud, and unauthorized transactions to the Finance Manager / Accounts Head.
- Accountable for the accuracy, completeness, confidentiality, and timely submission of assigned financial records and reports.

Pay: ₹15,000.00 - ₹20,000.00 per month

Work Location: In person

📌 Accountant (Mysuru)
🏢 Moneymithra Services
📍 Mysuru