Job Title: Head of Accounts Department
Role Objective
The Head of Accounts Department will lead the commercial operations of the organization, ensuring the achievement of revenue, margin, and cost targets across all products and customer segments while maintaining strict adherence to statutory regulations.
Key Responsibilities
Strategic Alignment
- Align departmental initiatives with the organization’s strategic goals, vision, and mission.
Financial Oversight
- Finalize the Profit & Loss statement, cash flow statement, and balance sheet.
- Direct the budgeting process to achieve financial objectives and optimize resource allocation.
Statutory Compliance
- Ensure full compliance with all statutory requirements, including PT, PF, ESIC, TDS, Maharashtra Labour Welfare, and GST.
- Oversee timely filing of all regulatory documentation.
Accounts Receivable Management
- Supervise accounts receivable processes to ensure timely collections in accordance with established terms.
- Maintain accurate and comprehensive accounts receivable records.
Accounts Payable Management
- Oversee accounts payable operations to ensure timely payments in alignment with contractual terms.
Management Information Systems (MIS)
- Generate and analyze management reports on sales, costs, and outstanding accounts.
- Monitor performance against budgeted figures to ensure financial targets are met.
Banking Relations
- Cultivate and manage relationships with banking institutions, ensuring compliance with banking norms and policies.
Team Leadership
- Lead, mentor, and motivate the accounts team to foster a high-performance culture and drive continuous improvement.
Additional Duties
- Execute any additional tasks assigned by management as necessitated by business requirements.
Key Interactions
Internal Stakeholders
- Managing Director (MD)
- Chief Executive Officer (CEO)
- Head of Commercials
- Procurement Department
- Inventory Management
- Human Resources
- Accounts Executives
- Sales Team
External Stakeholders
- Clients
- Regulatory Authorities
- Vendors and Suppliers
- Financial Institutions
- Compliance Agencies
Key Performance Areas
Key Result Areas
- Cost Management
- Statutory Compliance
- Cash Flow Management
- Management Information Systems (MIS)
- Team Development
Key Performance Indicators
- Achievement of target versus actual results
- Turnaround time (TAT) adherence
- Team performance metrics
Critical Activities
Activity
Frequency
Preparing annual budget
Monthly
Monitoring accounts payable
Weekly, Monthly
Monitoring accounts receivable
Weekly, Monthly
Finalizing P&L, cash flow, and balance sheet
Weekly, Monthly, Yearly
Managing statutory compliance documentation
As required
Conducting team performance reviews
Weekly, Monthly
Maintaining banking relationships
As required
Liaising with government authorities
As required
The Head of Accounts Department is essential to ensuring financial integrity and operational efficiency within the organization. This position requires a proactive and strategic leader with a comprehensive understanding of accounting principles, compliance regulations, and team management best practices.
Pay: ₹25,000.00 - ₹35,000.00 per month
Work Location: In person
