Chartered Accountant

Chartered Accountant Responsibilities in School Vertical and Educational Wings

The Chartered Accountant plays a critical role in maintaining financial integrity, ensuring statutory compliance, and supporting the strategic growth of the educational institutions under the School Vertical and its affiliated Educational Wings. Below are the key responsibilities:

1. Financial Management & Budgeting

• Prepare annual budgets for schools, preschools, and educational programs.
  
• Monitor expenditure against budgeted allocations across all institutions.
  
• Advise on cost-effective resource utilization without compromising educational standards.
  
• Track revenue from multiple streams: fees, grants, sponsorships, and donations.
  

2. Statutory Compliance

• Ensure timely filing of TDS, GST, Income Tax, and other regulatory returns.
  
• Ensure compliance with applicable laws (including Education Department norms, FCRA (if applicable), Trust or Society Act, etc.).
  
• Maintain proper documentation for audits, inspections, and regulatory reviews.
  

3. Payroll & HR Compliance

• Oversee salary processing for teaching and non-teaching staff.
  
• Ensure timely remittance of PF, ESI, professional tax, and related employee statutory dues.
  
• Prepare annual Form 16 and support in employee tax queries.
  

4. Fee Management System

• Implement and maintain a digital fee collection and tracking system.
  
• Reconcile bank statements with fee receipts on a monthly basis.
  
• Manage fee defaulters list, issue reminders, and support the recovery process in coordination with the administration.
  

5. Audit & Internal Controls

• Conduct periodic internal audits of fee collection, purchases, inventory, and vendor payments.
  
• Support statutory and external audits by maintaining accurate and up-to-date records.
  
• Identify and mitigate financial risks by establishing robust internal controls.
  

6. Vendor Management & Procurement

• Ensure transparent and cost-efficient procurement of school supplies, books, uniforms, infrastructure, and technology.
  
• Verify vendor invoices, issue purchase orders, and maintain proper documentation for all transactions.
  

7. Financial Reporting & Analysis

• Generate monthly and quarterly MIS reports for senior management.
  
• Analyze financial data and provide insights to aid academic and operational planning.
  
• Provide cost-benefit analysis for new educational initiatives or expansions.
  

8. Fund Management (for Trusts/NGOs/Educational Societies)

• Monitor usage of designated or restricted funds for specific educational projects.
  
• Maintain separate accounting where applicable (e.g., CSR-funded projects or NGO activities).