a) Financial Management:
- Closely oversee accounting entry and preparation of financial reports and annual financial statements for HQ, donors and vendor payments using the QuickBooks in use.
- Maintain an adequate Internal Control framework over financial reporting.
- Ensure that funds are transferred to vendors/employees/partners in a timely manner, and that financial analysis & follow-up on budgetary line items is accurate and prompt.
- Perform verification and preparation of financial statements for programs and projects.
- Oversee / Implement appropriate Treasury, Investment and Cash Management practices.
- Support partner organizations to help them understand the accounting and financial reporting system as required. Execute partner financial capacity building; Review Partner’s subgrants and financial reports.
- In coordination with the HR function, Oversee Payroll cycle and ensure that the right level of employee provisions are accounted for and withholding taxes are accounted for (including timely deposits of employee provident funds).
- Fixed Assets Management: Ensure all assets are tracked, annually verified and that additions and disposals are appropriate authorized in line with DOA (delegation of authority).Ensure employee provident fund compliance and high service levels.
- Manage sub-grants to the partner organisations including sub-grant agreement, release instalments, review financial reports and related documents etc.
- Perform any other duties requested with respect to financial management.
- Ensure that the books of accounts are maintained and updated as per the Organizations accounting policy and the guidelines/Standards issued by the Institute of Chartered Accountants of India.
- Maintain the vouchers and the accounting files and record.
- Shall be responsible for maintenance and compliance of Service level Agreements as agreed at all times.
- Support in development of accounting and financial control mechanism for Swasti projects,
- Implement and report on the control mechanisms.
- Ensure that all accounts are reconciled.
- Follow budgetary control procedures and report on deviations.
- Ensure that under normal circumstances, no deviations are reported.
- Bank reconciliations are completed by every month
- Provide support by provision of timely and periodic information to the Finance Manager.
- Supporting Finance Manager in maintaining and adhering to all FCRA related accounting and statutory activities
- Prepare weekly, monthly, quarterly reports and financial analysis reports including but not limited to financial statements, organisation budget, employee time challenge reports, part-time employee hours report, employee financial profit share report, etc.
- Ensure and supervise on-time donor financial reporting in compliance with Donor contractual terms.
- Coordinate the statutory, internal and any other assignment specific audits for Swasti.
- Ensure that the financial statements are drawn and audited within the timeframe as agreed
- Facilitate independent the work of auditors when undergoing an audit and prepare management response to the auditor recommendations, in compliance with donor rules and regulations; ensure follow up of auditor recommendations and execution by staff.
- Preparation of annual financial statements in compliance with Indian GAAP.
- Ensure financial statutory compliance with regard to direct and indirect taxes, CSR regulations and Central Bank (RBI) regulations
- Responsible for timely balance sheet reconciliation. Leads coordination responses to Internal and External Audits.
- Comply with audit observations and report on audit observation or rectifications initiated and completed.
e) Statutory Compliances:
- Ensure that Swasti has complied with all statutory registrations and renewals.
- The deductions under the applicable statutes are made
- All the deductions are remitted within the timeframe provided by the statute.
- Issuance, filing of all necessary forms and returns.