Plant Finance

Department
Finance & Accounts
Location
Manufacturing Plant, Bengaluru
Reports To
Finance Manager / Finance Controller
Function
Plant Accounting, Costing & Compliance
Job Purpose
To support day-to-day plant-level finance and accounting operations, including inventory and cost accounting, vendor invoice processing, fixed asset tracking, and statutory compliance — ensuring accurate books of accounts and strong financial controls at the manufacturing plant, in coordination with production, stores, quality, and supply chain teams.
Key Roles & Responsibilities
• Plant Accounting & Transaction Processing: Book vendor invoices and expense entries in the ERP system after due verification, in line with plant accounting policy.
• Ensure timely and accurate recording of all plant financial transactions in line with accounting policy and AS/Ind AS requirements.
• Support month-end and year-end closing activities for the plant, including accruals, provisions, and reconciliations.
• Inventory Valuation & Accounting: Value inventory (raw material, WIP, and finished goods) as per the prescribed costing method (e.g., moving average/standard cost), ensuring stock ledger values reconcile with the general ledger.
• Maintain accurate inventory records for raw materials, WIP, and finished goods; support periodic physical stock verification and cycle counts.
• Reconcile stock ledger with physical stock and investigate variances with stores/production teams.
• GRN – 3-Way Matching: Understand and apply the 3-way matching concept — verifying that the Purchase Order, GRN (raised by Stores), and Vendor Invoice agree on quantity, rate, and terms before booking the invoice in the ERP.
• Follow up with Stores/Procurement on GRN discrepancies (short receipt, rate mismatch, missing GRN) to ensure invoices are not booked without proper matching.
• Debit Notes – Rejections: Raise and account for debit notes on vendors for rejected or returned material (quality rejections, short supply, price differences) and track their closure/settlement.
• Scrap – Rate Verification: Verify scrap sale rates against approved rate contracts/market rates before scrap invoicing and ensure scrap sale accounting and reconciliation with quantities generated at the plant after payment receip.
• Accessories & Spares Billing: Support billing and accounting for accessories, spares, and other ancillary sales/transactions at the plant, ensuring correct pricing, tax treatment, and documentation.
• Assist in standard costing, BOM cost validation, and analysis of cost variances (material, labour, overheads) versus actuals.
• Track production cost data and support cost-reduction initiatives at the plant.
• Fixed Assets & Capex: Maintain the fixed asset register for the plant — capitalization, tagging, depreciation tracking, and physical verification of assets.
• Track capex spends against approved budgets and support capitalization workflows in the ERP.
• Payments & Statutory Compliance: Process plant-related vendor and contractor payments with correct TDS and GST treatment.
• Ensure GST, TDS, and other statutory compliances are met for all plant-level transactions.
• Support internal and statutory auditors during plant audits by providing documentation and clarifications.
• MIS & Reporting: Prepare periodic plant MIS reports — cost centre-wise spend, budget vs. actual, key operating metrics.
• Support preparation of the plant operating budget and periodic forecasts.
• Inbound & Outbound Logistics, E-Way Bill Compliance: Verify inbound logistics costs (raw material/component freight) and outbound logistics costs (finished vehicle dispatch to dealers/warehouses) against transporter invoices and freight agreements.
• Coordinate with the logistics/dispatch and stores teams to ensure E-Way Bills are generated correctly and on time for inbound material receipts and outbound vehicle/goods dispatch, in line with GST rules (value thresholds, validity period, vehicle/transporter details).
• Ensure invoice, delivery challan, and E-Way Bill values and HSN/tax details are consistent, and that documentation is retained for audit and transit-check purposes.
• Track and account for freight, transporter, and logistics vendor costs; support reconciliation of logistics accruals with actual transporter invoices.
• Monitor E-Way Bill validity, extensions, and cancellations for delayed or rerouted shipments, and flag discrepancies or expired E-Way Bills to the logistics team promptly.
• Coordination & Controls: Liaise closely with production, stores, quality, procurement, and HR teams to ensure accurate and timely flow of financial data.
• Ensure adherence to SOPs, maintain proper documentation and audit trail for all plant transactions.
• Flag process gaps or control weaknesses to the Finance Manager/Controller and support corrective action.
Desired Candidate Profile
• Qualification: B.Com / M.Com; part-qualified CMA/CA or MBA (Finance) preferred but not mandatory.
• Experience: 5 years + experience in plant/factory finance, cost accounting, or manufacturing accounts — automotive, EV, or allied manufacturing industry preferred.
• Functional Knowledge: Working knowledge of inventory accounting, standard costing, GST/TDS compliance, and fixed asset accounting.
• Systems: Hands-on experience with an ERP system (e.g., Microsoft Dynamics 365 Business Central, SAP, or similar); strong MS Excel skills.
• Soft Skills: Detail-oriented, good coordination and communication skills, and ability to work closely with cross-functional plant teams.

Work arrangement
No