Accounts and Finance Executive Vlpm Group

0.0 - 31.0 years

0 - 0 Lacs

Shakti Colony, Dehradun

Remote

Recording Transactions: Every purchase, sale, receipt, and payment needs to be accurately logged. Accounts Executives must ensure that these financial transactions are captured in the appropriate accounts, following a clear and standardized method (e.g., accrual or cash basis accounting). Maintaining Ledgers: Accounts Executives are responsible for updating general ledgers, which provide a detailed record of all financial transactions within the company. They ensure that all debits and credits balance and that the records are accurate and up to date. Managing Accounts Payable and Receivable: Accounts Executives help track the company’s debts (accounts payable) and the money it is owed (accounts receivable). This involves reviewing invoices, ensuring timely payments, and following up with customers and vendors to resolve any outstanding issues. Balance Sheets: Accounts Executives help prepare balance sheets, which are snapshots of the company’s financial position at a given point in time. This document lists the company’s assets, liabilities, and equity, and provides valuable insight into the company’s solvency and financial structure. Income Statements: Income statements, or profit-and-loss statements, show the company’s financial performance over a specific period, usually quarterly or annually. Accounts Executives assist with compiling revenue and expense data to determine the company’s profitability. Cash Flow Statements: This document tracks the movement of cash in and out of the business, offering a clearer picture of its liquidity. Accounts Executives ensure that all cash inflows and outflows are properly recorded, helping the company manage its cash reserves effectively. Budget Preparation: Accounts Executives help departments prepare their budgets by analyzing historical spending trends and financial data. They collaborate with department heads to create realistic budget forecasts that align with the company’s financial goals. Cost Control: Once budgets are established, Accounts Executives monitor spending across departments and ensure that the company stays within its financial limits. This may involve analyzing variances between actual and budgeted expenses and recommending corrective actions to reduce overspending. Financial Forecasting: Accounts Executives help project future financial outcomes by using historical data and current trends to predict revenue, expenses, and cash flow. This allows the company to plan for future growth, manage risks, and make strategic decisions. Bank Reconciliation: Accounts Executives ensure that the company’s bank statements are reconciled with internal records, helping to identify any discrepancies, errors, or fraudulent transactions. This process is essential for maintaining accurate cash flow records. Vendor and Customer Account Reconciliations: Accounts Executives also reconcile accounts with vendors and customers, verifying that payments and receipts are accurate and resolving any discrepancies promptly. They may follow up on outstanding invoices or payments, ensuring that cash flow remains Tracking Tax Liabilities: Accounts Executives monitor tax liabilities, including sales tax, payroll tax, and corporate income tax. They help calculate and track taxes owed by the company, ensuring that deadlines are met. Assisting with Tax Filings: While the responsibility for filing taxes may fall to senior accountants or tax professionals, Accounts Executives assist by preparing the necessary documents and reports, such as expense records and revenue statements, that are needed for accurate tax filing. Ensuring Regulatory Compliance: Compliance with financial regulations is crucial for avoiding penalties and maintaining the company’s reputation. Accounts Executives help ensure that the company adheres to local, state, and federal financial regulations, including tax laws, reporting standards, and industry-specific guidelines.

Posted 2 months ago

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