Accountant

JOB DESCRIPTION

Accountant – College / University

Department: Finance & Accounts

Job Title: Accountant

Reports To: Finance Manager / Chief Accounts Officer / Registrar

Employment Type: Full-Time

Work Location: College / University Campus

1. Job SummaryThe Accountant will be responsible for managing the day-to-day accounting and financial operations of the institution, ensuring accurate maintenance of financial records, timely statutory compliance, effective financial reporting, and adherence to applicable accounting standards, tax regulations, and institutional policies.

The role involves handling student fee accounting, vendor payments, payroll-related accounting, bank reconciliations, budgeting support, financial statements, statutory filings, and coordination with internal and external auditors.

2. Key Roles and Responsibilities

A. Accounting and Bookkeeping

• Maintain accurate and up-to-date books of accounts in accordance with applicable accounting principles and institutional policies.
• Record daily financial transactions, including receipts, payments, journal entries, and adjustments.
• Maintain general ledger, cash book, bank book, and other subsidiary ledgers.
• Ensure proper documentation, verification, and accounting of all financial transactions.
• Maintain records of fixed assets, depreciation, capital expenditure, and asset movements.
• Ensure proper accounting of grants, donations, endowments, research funds, and other institutional receipts, wherever applicable.

B. Student Fee Accounting

• Account for student fee collections, including tuition fees, admission fees, examination fees, hostel fees, transport fees, and other charges.
• Reconcile student fee collections with bank statements, payment gateways, and the student information system.
• Monitor outstanding student fees and prepare reports on pending collections.
• Process approved fee refunds, scholarships, concessions, and fee adjustments.
• Coordinate with the admissions office, examination department, hostel administration, and other academic departments for fee-related matters.

C. Accounts Payable and Receivable

• Verify vendor invoices, purchase orders, supporting documents, and approval workflows before processing payments.
• Prepare payment vouchers and ensure timely settlement of approved vendor bills.
• Maintain vendor ledgers and reconcile outstanding balances.
• Track receivables, advances, deposits, and other recoverable amounts.
• Monitor staff advances, travel expenses, reimbursements, and their timely settlement.
• Ensure compliance with the institution's procurement and financial approval procedures.

D. Banking and Reconciliation

• Prepare bank reconciliations for all institutional bank accounts.
• Monitor daily receipts, payments, fund transfers, and bank charges.
• Maintain records of fixed deposits, interest income, and bank guarantees, wherever applicable.
• Identify and resolve unreconciled transactions and discrepancies promptly.
• Assist in cash flow monitoring and preparation of fund utilisation statements.

E. Taxation and Statutory Compliance

• Assist in GST compliance, including applicability reviews, reconciliation, return preparation, and filing, wherever applicable.
• Handle TDS calculations, deductions, deposit of tax, return filing, and issuance of TDS certificates.
• Assist in income-tax compliance and preparation of supporting schedules and documents.
• Maintain statutory registers, challans, returns, and compliance records.
• Monitor due dates and ensure timely completion of applicable statutory requirements.
• Coordinate with consultants and statutory authorities for tax notices, assessments, and related matters.

F. Payroll and Employee Accounting

• Coordinate with the HR department for payroll inputs, salary processing, and employee-related accounting entries.
• Account for salary, incentives, reimbursements, and employee advances.
• Assist in compliance relating to PF, ESI, professional tax, and other applicable payroll deductions.
• Reconcile payroll records with the general ledger and statutory payment records.
• Maintain confidentiality of employee compensation and personal information.

G. Financial Reporting and Budgeting

• Prepare monthly, quarterly, and annual financial reports.
• Assist in the preparation of income and expenditure statements, balance sheets, cash flow statements, and other management reports.
• Prepare department-wise expenditure statements and budget-versus-actual comparisons.
• Track utilisation of departmental budgets, grants, and project funds.
• Provide financial data and analysis to management for decision-making.
• Support preparation of annual budgets, forecasts, and financial projections.

H. Audit and Internal Controls

• Coordinate with internal auditors, statutory auditors, and other authorised reviewers.
• Prepare audit schedules, ledger extracts, reconciliations, vouchers, and supporting documents.
• Ensure proper maintenance of bills, receipts, approvals, contracts, and other financial records.
• Assist in implementation of internal financial controls and segregation of duties.
• Identify accounting discrepancies, control weaknesses, and process inefficiencies and report them to the appropriate authority.
• Ensure timely resolution of audit observations and compliance with management instructions.

I. Accounting Systems and Documentation

• Operate accounting software and institutional ERP systems.
• Maintain systematic physical and electronic records of financial transactions.
• Ensure accuracy of accounting data and appropriate access controls.
• Prepare MIS reports and data extracts as required by management.
• Assist in improving accounting processes, documentation, and reporting systems.

3. Educational Qualifications

• CA Inter / CMA Inter qualification may be preferred, depending on the institution's requirements.
• Bachelor's degree in Commerce (B.Com) is mandatory.
• M.Com, MBA (Finance), or an equivalent finance qualification will be an added advantage.

4. Experience

• Preferred experience: 1–2 years in accounting and finance.
• Experience in a college, university, educational institution, hospital, or other service organisation will be preferred.