Senior Accountant

Job Title: Senior Accountant

Experience: 2 to 5 Yrs

Time Zone: IST Time (9 am to 6 pm)

Job Type: Work From Office

Location: Banashankari 3rd Stage, Bangalore

Job Description:

Senior Accountants perform complex accounting activities and financial analyses. In some instances, they are the point of contact between junior accountants and accounting managers and directors, serving to enforce and monitor compliance with company-wide accounting policies and procedures.

Role & Responsibilities:

Data Entry and Bookkeeping:

• Enter financial transactions, including sales, purchases, expenses, and payments, into Tally.
• Maintain accurate records of accounts payable and accounts receivable.
• Record bank transactions, reconciling them with bank statements.
• Accounts Receivable/Payable Management.

Monitor customer and supplier accounts to ensure timely payments and collections.

• Generate invoices and track their status.
• Update payment records and handle payment discrepancies.
• General Ledger Management.

Maintain the general ledger, recording journal entries and adjusting entries.

• Reconcile ledger accounts to ensure accuracy.

Financial Reporting:

• Generate various financial reports, including profit and loss statements, balance sheets, and cash flow statements.
• Prepare financial statements for internal and external stakeholders.
  

Taxation and Compliance:

• Calculate and file GST (Goods and Services Tax) returns using Tally's tax features.
• Ensure compliance with tax regulations and guidelines.
• Generate reports for tax audits and assessments.

Bank Reconciliation:

• Reconcile bank statements with Tally records to identify and resolve discrepancies.

Financial Analysis:

• Analyze financial data to identify trends, patterns, and areas for improvement.
• Provide insights and recommendations to management based on financial analysis.
  

Income Statement (Profit and Loss Statement):

• Shows the company's revenues, expenses, and profits over a specific period.
• Highlights the company's ability to generate profit from its operations.

Balance Sheet:

• Provides a snapshot of the company's financial position at a specific point in time.
• Lists the company's assets, liabilities, and shareholders' equity.

Cash Flow Statement:

• Tracks the inflow and outflow of cash during the reporting period.
• Highlights the company's ability to manage its cash flow effectively.

Accounts Receivable Aging Report:

• Details the outstanding invoices and how long they have been overdue.
• Helps monitor the company's receivables and identify potential cash flow issues.

Expense Report:

• Breaks down the company's expenses by category (e.g., salaries, utilities, marketing).
• Provides insights into spending patterns and helps control costs.

Revenue by Service/Product Report: (Good to have or keen to learn)

• Breaks down revenue by the different services or products offered by the IT company.
• Helps evaluate the performance of various offerings.

Key Performance Indicators (KPIs) Report: (Good to have or keen to learn)

• Includes relevant KPIs specific to the IT industry, such as client retention rate, project completion rate, and more.
• Helps monitor the company's performance against set goals.

Year-End Closing Activities:

• Assist in year-end closing procedures, including adjusting entries and preparing financial statements for audit and tax filing.

Data Backup and Security:

• Regularly backup Tally data to prevent data loss.
• Implement security measures to protect sensitive financial information.

Training and Support:

• Provide training and support to junior accounting staff in using Tally effectively.

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