Account Manager

If you are hiring an Accounts Manager, these can be the main roles and responsibilities:

Accounts Manager Roles & Responsibilities

1. Accounting & Financial Management

• Manage day-to-day accounting operations and ensure accurate financial records.
• Supervise accounts payable, accounts receivable, general ledger, and cash/bank transactions.
• Review and approve accounting entries and supporting documents.
• Maintain proper documentation for all financial transactions.

2. Financial Reporting

• Prepare monthly, quarterly, and annual financial reports.
• Prepare profit & loss statements, balance sheets, cash-flow statements, and management reports.
• Provide financial analysis and recommendations to management.
• Monitor actual expenses against budgets.

3. Cash & Bank Management

• Monitor daily cash and bank balances.
• Manage bank reconciliations and investigate discrepancies.
• Monitor payments, receipts, PDCs, and outstanding balances.
• Coordinate with management for payment approvals.

4. Accounts Payable & Receivable

• Monitor supplier invoices and payment schedules.
• Follow up on customer outstanding payments.
• Maintain accurate ageing reports for receivables and payables.
• Ensure payments are made according to approved terms.

5. Tax & Compliance

• Ensure timely preparation and submission of VAT/GST and other applicable tax returns.
• Maintain proper records for tax and statutory requirements.
• Coordinate with auditors, tax consultants, and government authorities when required.
• Ensure compliance with applicable accounting standards and company policies.

6. Payroll & Employee-Related Accounts

• Coordinate with HR for monthly payroll processing.
• Verify salaries, deductions, advances, loans, and other employee payments.
• Ensure payroll-related statutory payments are processed on time.

7. Budget & Cost Control

• Prepare and monitor annual budgets.
• Track project and operational expenses.
• Identify unnecessary costs and recommend cost-control measures.
• Provide management with regular budget-versus-actual reports.

8. Audit

• Coordinate internal and external audits.
• Prepare schedules, supporting documents, and reconciliations required by auditors.
• Ensure audit observations are properly addressed and closed.

9. Team Management

• Supervise and guide the accounts team.
• Allocate responsibilities and monitor staff performance.
• Review the team's work for accuracy and compliance.
• Train staff on accounting procedures and company policies.

10. Management Responsibilities

• Provide accurate financial information to senior management for decision-making.
• Establish and improve financial controls and accounting procedures.
• Identify financial risks and report them to management.
• Maintain confidentiality of all company financial information.

Key Performance Areas (KPIs)

• Accuracy of accounting records
• Timely monthly closing and financial reporting
• Timely VAT/GST and statutory compliance
• Reduction of outstanding receivables
• Effective cash-flow management
• Budget and cost control
• Audit compliance and timely closure of observations
• Accuracy and timely completion of payroll
• Proper documentation and internal financial controls