Account Executive

Job Overview:

The Branch Accounts Executive will be responsible for managing the financial transactions and accounting activities at the branch level. This role includes handling payment entries for receivables and payables, processing journal entries, managing purchase and expense invoices, and ensuring accurate TDS entries for customer payments. The Accounts Executive will also perform regular bank and cash reconciliations and follow up on overdue customer payments. The position requires close coordination with internal teams such as sales, procurement, and finance to maintain accurate financial records, ensure compliance with accounting standards, and support efficient cash flow management. This role is critical in ensuring accurate and timely financial operations while also contributing to the companys overall financial health.

Key Responsibilities:

1. Payment Entries (Receivable & Payable):

• Receivables: Record and manage all customer payments, ensuring that payments are correctly applied to open invoices. Monitor overdue accounts and send reminders or follow-up notices as needed to ensure timely collections.
• Payables: Process vendor payments by recording invoices and ensuring timely settlement to avoid late fees or penalties. Verify all invoices for accuracy and proper authorization before payment is made.
• Ensure all payment entries are accurately updated in the accounting software to reflect the real-time financial position.

2. Journal Entry:

• Prepare and enter daily journal entries in ERP to document financial transactions, such as adjustments, accruals, and corrections, ensuring that all entries comply with standard accounting principles and company policies.
• Regularly review and reconcile journal entries to ensure they are correctly posted and linked to the appropriate general ledger accounts.
• Keep track of recurring journal entries (such as depreciation, prepaid expenses, etc.) and post them as required.

3. Purchase and Expense Invoices:

• Verify purchase invoices against purchase orders and goods received notes to ensure accuracy in quantity, pricing, and terms before entering them into the system.
• Process expense invoices by verifying the authenticity and approval of expenses, ensuring compliance with company policies, and categorizing them appropriately for financial reporting.
• Coordinate with procurement and the finance team to resolve any discrepancies or issues related to supplier invoices or expense reports.

4. TDS Entry for Customers:

• Accurately record Tax Deducted at Source (TDS) entries for all customer transactions, ensuring that deductions are calculated as per applicable tax regulations.
• Ensure timely reconciliation of TDS with payments and proper filing in the accounting system for future reference.
• Maintain updated records of TDS certificates received from customers and ensure timely submission to the tax authorities.

5. Bank & Cash Reconciliation:

• Perform regular bank reconciliations by matching entries in the ERP system with the bank statements, identifying and rectifying any discrepancies.
• Conduct cash reconciliations by comparing the actual cash balances in hand with the recorded amounts, ensuring that cash transactions are properly documented and accounted for.
• Investigate and resolve any discrepancies or missing transactions in bank and cash reconciliations to ensure accuracy in financial records.

6. Customer Payment Follow-ups:

• Monitor the accounts receivable aging report to track overdue payments and take appropriate actions to follow up with customers.
• Communicate with customers to resolve payment-related issues, providing payment reminders or statements as needed.
• Work closely with the sales and dispatch teams to stay updated on customer relationships and payment statuses to ensure smooth communication regarding any delays or disputes.
• Prepare reports on the status of customer payments and escalate long-overdue payments to the management team for further action.

Key Qualifications:

• Education: Bachelor's or Diploma in Accounting, Finance, or a related field.
• Experience:
• 1 – 2 years in accounting for graduates, preferably in a manufacturing or industrial environment.
• 3+ years in a similar role for diploma holders in the same field
• Certifications: Basic certifications in Computerized Accounting (Tally) and MS Office (especially Excel) will be an added advantage.