To manage and control the day-to-day Accounts & Finance activities at the EPC project site, ensuring accurate accounting, timely financial reporting, project cost monitoring, vendor/subcontractor payments, statutory compliance, cash-flow management, and effective coordination with the Corporate Finance team and project management.
1. Project Accounting & Financial Management
- Manage day-to-day accounting operations of the project site.
- Ensure proper accounting of project-related expenses, receipts, advances, and liabilities.
- Review and verify accounting entries, vouchers, invoices, and supporting documents.
- Maintain project-wise and cost-centre-wise accounting records.
- Ensure timely closing of monthly accounts and submission of financial data to Corporate Finance.
- Monitor project expenditure against approved budgets.
2. Project Cost Control & MIS
- Monitor project costs against budget, BOQ, work orders, and approved estimates.
- Prepare project-wise cost statements and financial MIS.
- Analyse cost variances and highlight significant deviations to the Project Head and Corporate Finance.
- Track committed costs, actual expenditure, provisions, and accruals.
- Support project management in maintaining cost efficiency and profitability.
- Provide financial inputs for project reviews and management meetings.
3. Vendor & Subcontractor Accounting
- Verify vendor and subcontractor bills along with supporting documents.
- Ensure proper accounting and timely processing of bills.
- Monitor vendor/subcontractor advances, recoveries, retention money, deductions, and outstanding balances.
- Reconcile vendor ledgers and resolve discrepancies.
- Coordinate with Procurement, Commercial, Stores, and Project teams for bill certification and payment processing.
- Monitor ageing of vendor and subcontractor outstanding payments.
4. Billing & Receivables
- Coordinate with the Billing/Commercial team for timely submission and accounting of client bills.
- Track client receivables and outstanding amounts.
- Monitor advances received from clients and their adjustment.
- Ensure proper accounting of RA Bills, claims, variations, escalation, and other project-related receipts.
- Prepare receivable ageing reports and follow up for timely collections.
5. Cash & Bank Management
- Prepare and monitor project cash-flow requirements.
- Maintain daily/weekly cash and bank position.
- Coordinate with Corporate Finance for fund requirements at the project site.
- Monitor site-level petty cash and cash advances.
- Perform regular bank reconciliation and resolve outstanding items.
- Ensure proper control over cash disbursements and approvals.
6. Statutory Compliance
- Ensure timely compliance with applicable statutory requirements related to the project.
- Coordinate for GST, TDS, PF, ESI, labour-related deductions, and other applicable statutory matters.
- Verify statutory deductions from vendor/subcontractor bills.
- Maintain proper records and supporting documents for audits and statutory requirements.
- Coordinate with Corporate Tax/Finance teams during assessments, notices, and statutory audits.
7. Payroll & Employee-Related Finance Activities
- Coordinate with HR/Admin for project payroll-related accounting requirements.
- Verify payroll-related provisions, reimbursements, advances, and recoveries.
- Ensure timely accounting of employee expenses and site advances.
- Monitor settlement of employee advances and travel expenses.
8. Stores, Inventory & Fixed Assets
- Coordinate with Stores and Project teams for proper accounting of material receipts, issues, transfers, and consumption.
- Monitor project inventory valuation and reconciliation.
- Ensure proper accounting and documentation of project assets.
- Support periodic physical verification of inventory and fixed assets.
- Monitor capitalisation and depreciation-related requirements.
9. Audit & Internal Control
- Ensure compliance with company financial policies, SOPs, and internal controls.
- Coordinate with Internal Audit, Statutory Audit, and Corporate Finance teams.
- Provide required schedules, ledgers, vouchers, and supporting documents during audits.
- Identify financial control gaps and implement corrective measures.
- Ensure proper documentation and approval hierarchy for financial transactions.
10. Coordination with Project Team
- Work closely with Project Manager, Project Head, Commercial, Procurement, Stores, HR & Admin, Billing, Planning, and Site Execution teams.
- Provide financial guidance for project-related commercial and operational decisions.
- Participate in project review meetings and provide financial updates.
- Highlight financial risks, cost overruns, cash-flow constraints, and commercial issues to management.
- Timely and accurate monthly project accounts.
- Budget vs. actual project cost monitoring.
- Timely vendor and subcontractor bill processing.
- Reduction in outstanding vendor/subcontractor balances.
- Accurate project cash-flow forecasting.
- Timely client billing and receivable monitoring.
- Timely GST/TDS and other applicable statutory compliance.
- Accurate bank and ledger reconciliation.
- Audit compliance with minimum observations.
- Effective control over project expenses and advances.
- Timely submission of project MIS to Corporate Finance.
- Strong knowledge of project accounting and cost control.
- Good understanding of EPC/Infrastructure project finance.
- Knowledge of GST, TDS, PF, ESI and other applicable statutory requirements.
- Strong analytical and reconciliation skills.
- Good knowledge of MS Excel and accounting/ERP software such as SAP, Oracle, Tally, or equivalent.
- Vendor and subcontractor bill verification experience.
- Good understanding of project cash-flow management.
- Strong communication and coordination skills.
- Ability to work independently at a project site.
- Strong attention to detail and financial discipline.
