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Job details:
Position: Factory Accounts Manager
Department: Finance & Accounts
Industry: Furniture Manufacturing / Wood Manufacturing
Experience: 10+ Years
Reporting To: DGM Finance
Location: Coimbatore
Salary - 10 to 11 lakhs
Email Resumes to jayasankar@vaanamfurnishings.com or Whatsapp on 8925830802
Job Summary
We are looking for an experienced Factory Accounts Manager with over 10 years of experience in the furniture manufacturing industry. The role is responsible for managing factory accounting operations, cost accounting, inventory control, budgeting, statutory compliance, financial reporting, and supporting plant operations through accurate financial analysis. The incumbent will ensure effective cost management, control of raw materials and finished goods, and adherence to accounting and compliance requirements.
Key Responsibilities
1. Factory Accounting & Financial Management
Manage all accounting activities related to the manufacturing unit.
Ensure accurate recording of factory expenses, production costs, and inventory transactions.
Prepare monthly, quarterly, and annual financial reports for management review.
Monitor factory overheads and ensure proper cost allocation.
Support month-end and year-end financial closing activities.
2. Cost Accounting & Cost Control
Develop and maintain product costing systems for furniture products.
Analyze raw material, labor, and overhead costs.
Conduct variance analysis between standard costs and actual costs.
Monitor production efficiency and identify cost-saving opportunities.
Provide management with profitability analysis by product line and production unit.
3. Inventory & Stores Management
Oversee accounting and control of raw materials, work-in-progress (WIP), finished goods, and consumables.
Ensure accurate stock valuation in compliance with accounting standards.
Conduct periodic physical stock verification and reconciliation.
Monitor inventory aging and slow-moving stock.
Coordinate with stores and production teams to maintain inventory accuracy.
4. Budgeting & MIS Reporting
Prepare annual budgets and monthly forecasts for factory operations.
Track actual expenses against budgets and analyze deviations.
Generate plant MIS reports, including production costs, inventory reports, and profitability statements.
Present financial insights to senior management for decision-making.
5. Accounts Payable & Vendor Management
Verify and approve vendor invoices related to raw materials, machinery, maintenance, and services.
Ensure timely payments to suppliers and contractors.
Perform vendor reconciliations and resolve discrepancies.
Monitor outstanding liabilities and payment schedules.
6. Compliance & Taxation
Ensure compliance with GST, TDS, Income Tax, PF, ESI, Professional Tax, and other statutory requirements.
Coordinate with auditors during internal, statutory, and cost audits.
Maintain proper accounting records and supporting documentation.
Ensure compliance with company policies and regulatory requirements.
7. Banking & Treasury Management
Manage factory cash flow requirements and banking transactions.
Perform bank reconciliations and monitor fund utilization.
Assist in working capital management and cash flow planning.
Coordinate with banks and financial institutions as required.
8. Internal Controls & Audit
Implement and monitor internal financial controls across factory operations.
Ensure proper authorization and documentation of expenditures.
Conduct periodic reviews of financial and inventory processes.
Support audit activities and implement audit recommendations.
9. Production & Operational Support
Work closely with Production, Procurement, Stores, and HR departments.
Provide cost analysis for new product development and process improvements.
Monitor manufacturing efficiency, wastage, and material consumption.
Support management in strategic decisions related to production and profitability.
10. Team Leadership
Lead and supervise factory accounts and stores accounting personnel.
Train team members on accounting procedures, ERP systems, and compliance requirements.
Establish performance standards and monitor team productivity.
Drive continuous improvement in accounting processes.
Key Skills & Competencies
Strong knowledge of Manufacturing and Factory Accounting.
Expertise in Cost Accounting, Inventory Control, and Budgeting.
Experience in Furniture, Wood Products, or Manufacturing Industry.
Knowledge of GST, TDS, Income Tax, PF, ESI, and statutory compliance.
Proficiency in ERP systems (SAP, Oracle, Microsoft Dynamics, Tally Prime, etc.).
Advanced MS Excel and MIS reporting skills.
Strong analytical, problem-solving, and decision-making abilities.
Excellent leadership and communication skills.
Educational Qualifications
B.Com / M.Com
MBA (Finance) preferred
CMA (Cost Accounting) preferred
CA Inter / CMA Inter desirable
Key Performance Indicators (KPIs)
Accuracy and timeliness of factory financial reporting.
Reduction in production and inventory variances.
Inventory accuracy and stock reconciliation results.
Budget adherence and cost-saving initiatives.
Compliance and audit performance.
Reduction in material wastage and cost overruns.
Timely vendor payments and reconciliation closure.
Working capital and cash flow management effectiveness.
Team performance and process improvement achievements.
Preferred Industry Experience
Furniture Manufacturing
Wood Processing Industry
Modular Furniture Manufacturing
Interior Products Manufacturing
- Plywood, Veneer, and Wood-Based Product Industries
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