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ACCOUNTS DEPARTMENT STANDARD OPERATING MANUAL Prepared by Heraclitus Management Services Page 1



ACCOUNTS MANAGER Roles and Responsibilities: 1. Daily morning the employees should enter the company 15 minutes earlier to the working timing 2. Enter the entry in the biometric system in the morning, while leaving for lunch, while coming after the lunch and while leaving the company 3. Daily morning the employees should read the pledge and then start their daily work 4. Keep the department clean always 5. Make sure all the computers in the department is serviced once in a month by the IT department 6. Manage all the employees who work in the supervision and check their works regularly 7. The manager should know the target of the company and work towards achieving that 8. The manager should not be partiality on the employees 9. The manager should posses good communication and interactive quality 10. All the important work should be informed to the MD 11. The accounts manager should interact with other department managers 12. The manager should make sure that the management is healthy in all aspects 13. Reduce the unwanted cost for the company 14. Finish all the calculation work before the deadline and get it signed/approved from the MD 15. Check the bank reconciliation work regularly 16. Submit the letter to the MD that come to the company and get it signed from the MD, then it should be given to the respective department heads and make an entry in the ledger Page 2 Prepared by Heraclitus Management Services



17. Check the monthly report for all the departments and submit the report to the department head 18. Finalize the GST, income tax and personal income tax with the auditor and get the approval from the MD 19. Guide all the employees in the accounts department and make then achieve the targets 20. The accounts executive should check all the employees work in the accounts department and if they did any wrong then they have to correct and make them learn 21. If the accounts department done any mistake then the Accounts manage will be full responsible for it 1. All the employees are allowed to have 30 minutes including the lunch tea break and restroom timing 2. Every employee should follow the 5S procedures and follow its instructions regularly without fail 3. All employees should work towards achieving the company’s target 22. All employees should follow the company’s culture without fail Prepared by Heraclitus Management Services Page 3



ACCOUNTS EXECUTIVE Roles and Responsibilities: 1. Daily collect the courier from the courier office and complete the bank work 2. Entry the Sales bill, sizing bill, vendor bill, journal bill and purchase bill in tally daily 3. Fill the Sales bill, sizing bill, vendor bill, journal bill and purchase bill in the respective files that is allotted for each 4. Enter the sales and the sizing entry in the ledger daily 5. Submit the sales and sizing ledger to the Accounts manager on 1st of every month 6. Before 6th of each month the executive should take the necessary steps for HT payment 7. Before 10th of each month the executive should take the necessary steps for LT payment 8. Before 7th of each month the TDS payment should be done through online, three month once before the 15th the TDS E-filing should be done 9. Before 7th prepare the bank stock statement 10. Before 7th GST monthly return(GSTR 1), prepare the E-filing and it should be submitted in the Auditor Office and before the 10th of the month the E-filing should be completed 11. Before 15th GST monthly return(GSTR 3B), prepare the E-filing and it should be submitted in the Auditor Office and before the 20th of the month the E-filing should be completed 12. Three months once, before 30th the GST refund should be E-filed through online 13. Each month check the Debtor balance Prepared by Heraclitus Management Services Page 4



14. Yearly once check all the document for the insurance renewal and make sure it will be completed before the given time 15. Prepare the debit note and the credit note and submit it, after checking enter those detail in the tally 16. Prepare the excel sheet of the commission payment that should be given to the agents and draft it in the manual ledger and enter it in the tally 17. Prepare the bank documents as per the management asks and submit it on time 18. Make the arrangements for paying the yarn payment on the correct time 19. Before the payment cheque is processed, prepare the covering letter and courier it 20. The bills sent from vendors should be given to the concerning department and after their process it should be entered in tally 21. Prepare the sizing payment and the creditors payment every Saturday and submit it to the MD 22. Check the monthly report for all the department 23. Finish the work related to TIIC, bank work and any government office before the dead lines Prepared by Heraclitus Management Services Page 5



CASHIER Roles and Responsibilities: 1. The claim amount should be processed only if the claim bill are perfect 2. For any process the cash should be given only when there is Accounts manager sign 3. If the accounts manager is on leave then the employee should get the sign from the in- charge 4. Get the sign from the MD in the cash voucher 5. Before giving the amount get the sign from the respective person in the cash voucher 6. On every Friday before 6:30 pm, prepare the cash voucher for the next week claim expense amount and get it signed by the Accounts manager and send the details to the accounts manager mail 7. Daily complete the accounts work without any mistake and submit it to the accounts manager 8. While handling the cash, the cashier should be more careful, if there are any mistake then the cashier is full responsible 9. In the advance voucher for the local purchase, the payment should be given only if there is FM and MD sign in it 10. While clearing the advance vouchers check all the bill has the FM sign in it 11. Advance voucher for the transport and the Mess, there should FM sign and Managing Partner sign in it, after checking this the advance amount should be given Prepared by Heraclitus Management Services Page 6



PAYMENT IN-CHARGE Roles and Responsibilities: 1. Do the payments follow up during 11:30 am to 2:00 pm and enter the details in the note 2. Weekly remind the buyer and the agents for the payments through e-mail and call 3. Once the invoice was sent by the buyer and the agent, immediately enter in the note 4. Check the cheque and the cash are coming properly bill to bill 5. When there is a fabric sales return, only if there is proper debit note the fabric will be picked up from the buyer 6. Every Monday prepare the swatch card for the stock which are there for long period of time and get approval from the MD and then send it to the agent/buyers 7. Monthly once visit the buyer/agent for the payment follow up 8. When the debit note comes get the approval and sign from the ware house in-charge and from the marketing manager and get the reasons for the debit 9. Give the debit note to the internal auditor and get the sign from MD 10. Two days once the payment follow up should be done to the buyer/agent 11. Enter the bank statement of MD in the collection book after MD sends it in email and submit the statement 12. Inform the MD about the payment that can be expected from the party for the week 13. Every Wednesday prepare the payment pending statement, send the hard copy and soft copy to the buyer/agent 14. Every Friday, prepare the fabric stock statement and send it to the buyer/agent as per the market situation Prepared by Heraclitus Management Services Page 7



15. Every Saturday send the following report to MD, o 1. Weekly dispatched meters o 2. Weekly sales amount o 3. Balance amount in hand o 4 . Waste pending received amount o 5. Weekly collection amount details o 6. Outstanding pending amount details Prepared by Heraclitus Management Services Page 8



DEBTORS PROCESS Overview The payment that has to be processed by other companies to our company, these list will be prepareed by the accounts team and followed up regularly Purpose Other parties have to pay us Scope Payment Responsibilities Payments in-charge, MD, marketing Input The accounts manager will call the debtors and ask for the payment Process step/ 1. The list of debtors will be entered in a separate ledger Procedure 2. This ledger will be taken and discussed with MD 3. As per the MD instruction the Accounts manager will make calls to Output the particular persons in the list 4. The payment dates of the other parties will be confirmed and the dates will be noted down 5. The MD will give the daily bank statement to the Accounts team, in this statement the debtors will be noted 6. A separate report will be prepared for the payment done parties and given to the MD 7. Reconciliation work will be done for the debtors Payment done to the parties Tools / Temp Debtors list Prepared by Heraclitus Management Services Page 9



CREDITORS PROCESS Overview The payment that we have to make to the parties, this will be done after the approval of the MD by the accounts department Purpose To credit the payment to the parties Scope Payment Responsibilities Accounts manager, MD Input The Creditors list will be given to the MD and the payment will be processed after his approval Process step/ 1. The list of creditors will be prepared by the accounts team Procedure 2. This list will be given to the MD by the accounts manager 3. MD will mention the members in the list 4. A cheque will be prepared for these selected members payment 5. These cheque will be given to the MD for approval 6. After the MD approval the cheque will be processed by the accounts team Output Payment done to the parties Tools / Temp Creditors list Prepared by Heraclitus Management Services Page 10



GST PROCESS Overview It is an indirect tax levied on the supply of good as services by the government. Every month this tax has to be processed by the company Purpose To pay taxes Scope Betterment of the company Responsibilities Accounts manager, MD Input The files will be prepared by the accounts team and the auditors will examine the files Process step/ 1. The GST process have to be done every month Procedure 2. The accounts team members will enter the details in the tally sheet 3. This tally sheet will be converted into excel format 4. This excel sheet will be given to the external auditing team 5. There will be predefined GST format for the excel sheet 6. As per the predefined format the details will be prepared 7. The auditing team will check the details and approve the format 8. These files will be uploaded in the online 9. After the MD approval the payment will be processed Output Tax payment will be done Tools / Temp Predefined templates Prepared by Heraclitus Management Services Page 11