1. Achieve Profitability
- Following the proper process & involving the departmental heads budget needs to be prepared.
- To prepare a CAPEX budget on the basis of development during the years & to spend as per the fixed assets SOP of the company.
- To assure realization from the machines & the spares parts.
- To suggest & implement appropriate policies & norms to control the expenses/overheads.
- To review all the vendors related with direct/indirect expenses & services to assure best negotiable prices.
- To scrutinize the bills.
- To avoid leakages and financial discipline line.
- To optimize the stock to minimize the interest costs.
- To bring to the attention of management major deviation and variations on discussion line. Similarly to look at the opportunities for the increase revenue, public realizations.
2. Optimize the funds & reduce the interest costs
- Ensure timely collection of the deals
- Ensure that SOP is properly followed in the case of deliveries.
- To provide fund projection before 3rd of next Nepalese month.
- To review the fund projection with actual and take corrective actions whenever required.
- To review the ageing of machines & take initiatives with sales department and business head for early disposal.
- To ensure that unnecessary idle money is not held in current account.
- To prepare & maintain a register of payment to vendors for better image of company & better relation.
3. MIS preparation, discussion & its analysis
- MIS to be prepared with all reconciliations, provisions & all mathematical accuracy before 15th .
- To analyze it & have a discussion on it with corporate & business head.
- In case of deviation / opportunities to take actions.
4. Compliance to statutory requirements, Accounting principles & company SOP
- Effective implementation of SOPs/Policies.
- Ensure compliance of applicable Taxes/Laws/Accounting Standards/Policies.
- Facilitate & ensure timely completion of Internal Audit/Statutory Audit/Physical Verification.
- To prepare balance sheet & books of accounts with details twice in a year (Half yearly) as per statutory norms .
- To assure that all the accounting principles & standards are being observed at branches
5. To ensure timely maintenance of proper books of accounts, regular reconciliations & ledger scrutiny.
- To ensure maintenance of proper Books of Accounts as required by Accounting Principles/Accounting Standards.
- To ensure that entries are done on daily basis & cash is closed & reconciled in the evening before leaving the office.
- To ensure timely submission of half yearly Books of Accounts Finalization.
- To ensure timely TDS/VAT reconciliation & filing returns thereof.
- To ensure ledger scrutiny to be undertaken on a monthly basis.
- To ensure all the provisions & reconciliations being completed before extraction of final trial balance for MIS preparation.
- To ensure periodic reconciliation of principal & vendors accounts.
6. Insurance of stocks/Assets & in transit stocks
- Tie up with insurance companies & take approval for appropriate insurance.
- To assure insurance of all the mentioned assets/stocks & its timely renewal.
7. To ensure timely order of products & smooth/cost effective delivery to the customer.
- To optimize the stock & assure timely delivery to the customers. To place the order of the machines to the company before 20th of English month.
- To sync LC opening appropriately with Expected Machine Delivery (to ensure while booking machine).
- To ensure Insurance & Custom Clearance being done in time so as to avoid delay in machine delivery to customers.
- To ensure machine delivery to customers place with the supplier company in India assigned transporters so that no extra transportation cost being incurred by the company.
- Ensure minimum stock level to be maintained in Branches and same to be considered while opening LC.
- For all the PDCs received, prepare a register & present it with Bank on the date of cheque & assure that it is realized before expiry.
- To keep the custody of all the bank guarantees & maintain the register with its expiry date.
- To assure that the claim letter sent to the customer one month prior to the expiry date.
- To ensure the black listing process executed if PDC check is not realized.
- To ensure bid security & performance bond is prepared on time & provided to the sales team.
- To ensure bid security & performance bond is released on time.
- To ensure the TDS certificate is collected on time.
9. PR building with BFIs
- Make the list of all the payment to the BFIs & assure its timely payment.
- To develop relationship with BFIs for better cost of funds.
- Look at the opportunities for customer financing.