Senior Accounts Executive

Must be expert in Tally and Minimum Experience of 5 years in Indian Accounting Standard ..

Senior Accountant – Lyallpur Emporium Pvt Ltd

The Senior Accountant is a key member of the finance team, responsible for ensuring the accuracy of financial records, preparing financial reports, and providing critical analysis to support operational and strategic decision-making, particularly concerning inventory and cost of goods manufactured.

Core Accounting & Reporting Responsibilities

• Financial Statement Preparation:
• Manage the month-end and year-end close processes, including journal entries, accruals, and deferrals, ensuring timely completion.
• Prepare and review accurate monthly, quarterly, and annual financial statements (Balance Sheet, Income Statement, Cash Flow Statement) in compliance with GAAP or IFRS.
• Maintain the integrity of the General Ledger by reviewing and approving journal entries and ensuring account reconciliations are performed accurately and on time.
• Compliance and Audit:
• Ensure strict compliance with all local, state, and federal tax regulations (e.g. GST, corporate tax) and assist with tax filings.
• Coordinate and support both internal and external audits, preparing required schedules, documentation, and addressing auditor queries.
• Develop and document accounting policies and business processes to maintain and strengthen internal controls and improve efficiency.
• Treasury and Reconciliation:
• Perform and review complex account reconciliations, including bank statements, fixed assets, intercompany accounts, and high-volume vendor/customer accounts.
• Oversee Accounts Payable (A/P) and Accounts Receivable (A/R) functions, ensuring accurate record-keeping and proper cash flow management.

Manufacturing & Cost Accounting Focus (Specific to Uniform Manufacturing Industry)

• Cost of Goods Sold (COGS) Analysis:
• Calculate, analyze, and report on the Cost of Goods Sold (COGS), focusing on variances between actual costs and standard or budgeted costs.
• Maintain and analyze records for Manufacturing Overhead costs, ensuring proper allocation to products.
• Inventory Management & Valuation:
• Manage the accounting for raw materials, Work-In-Progress (WIP), and finished goods inventory, ensuring accurate valuation methods are applied (e.g., FIFO, Weighted Average).
• Oversee and reconcile perpetual inventory records with physical counts (cycle counts and annual inventory).
• Monitor and report on inventory obsolescence and scrap material, making appropriate reserve entries.
• Budgeting, Forecasting, and Analysis:
• Assist the Finance Head in the preparation of annual budgets and periodic financial forecasts.
• Conduct detailed variance analysis of manufacturing costs, operating expenses, and sales revenue, providing insightful explanations to management.
• Provide financial data and analysis to the production and management teams to help them track efficiency, reduce waste, and improve overall profitability of uniform lines.

Leadership & Other Responsibilities

• Team Management & Mentoring:
• Provide guidance, training, and mentorship to junior accountants or accounts payable staff.
• Review the work of junior staff to ensure accuracy and adherence to company policies.
• System and Process Improvement:
• Identify opportunities to streamline accounting procedures and automate processes, particularly within ERP or specialized manufacturing software.
• Collaborate with other departments (Production, Sales, Purchase, IT and HR) to ensure accurate and timely financial data flow.

Job Types: Full-time, Permanent

Pay: ₹15, ₹30,000.00 per month

Benefits:

• Cell phone reimbursement
• Paid time off
• Provident Fund

Work Location: In person