Accountant

We are seeking a highly organized, detail-oriented, and experienced Comprehensive Accountant / Accounts Manager with proven expertise in the Pharmaceutical or Healthcare/Retail Pharmacy sector. This role will manage all financial transactions, focusing on specialized areas like inventory costing, expiry risk management, regulatory compliance (e.g., drug pricing, Schedule H), and full-cycle accounting to ensure the company’s financial health and adherence to industry regulations with familarity with computer software like - Tally & advanced excel.

🔑 Key Responsibilities :

1. Core Accounting and Financial Reporting

Manage all general ledger activities, ensuring accurate and timely month-end and year-end close processes.

• Prepare and publish timely monthly financial statements (P&L, Balance Sheet, Cash Flow) for management review.
• Develop and document accounting policies specific to the pharmacy retail environment to maintain and strengthen internal controls.
• Coordinate and complete annual statutory audits.

2. Specialized Inventory and Cost Management

• Inventory Control:
• Oversee precise tracking of High-Value and Schedule drugs inventory.
• Implement and monitor controls for batch-wise inventory tracking and ensuring strict FIFO (First-In, First-Out) compliance for valuation.

* Manage and account for **expiry and obsolescence risk**, ensuring timely provision and write-offs for expired medications in compliance with regulatory and accounting standards.

• Costing: Accurately calculate the Cost of Goods Sold (COGS), factoring in purchase discounts, supplier schemes, and regulatory price caps (if applicable).
• Maintain the Fixed Asset Register for equipment, including dispensing machines and lab equipment (if relevant).

3. Taxation and Regulatory Compliance

Ensure timely and accurate calculation and payment of all statutory taxes, with a deep understanding of:

• GST/VAT/Sales Tax implications on pharmaceutical products, including varying tax rates for different drug classes.
• TDS/Withholding Tax on supplier payments and professional services.
• Monitor compliance with Drug Price Control Orders (DPCO) or similar regulatory pricing structures, ensuring the costing and billing adhere to legal limits.
• Prepare all necessary documentation for compliance checks and regulatory filings related to the pharmacy industry.

4. Accounts Payable and Receivable Management

• Accounts Receivable (AR):
• Manage the invoicing process, which may include billing to insurance companies, hospitals, or government schemes, requiring unique reconciliation steps.
• Execute strategic recovery efforts for institutional clients or slow-paying entities.
• Accounts Payable (AP):
• Process invoices from pharmaceutical distributors and manufacturers, reconciling supplier statements against complex purchase schemes and returns.
• Manage payment cycles to secure maximum early payment discounts without compromising cash flow.

💡 Qualifications and Skills

• Education: Bachelor’s or Master's degree in Business, Accounting or Finance. Professional qualification (CA, CPA, CMA) is highly preferred.
• Experience: Minimum of 3-5 years of progressive accounting experience, with at least 2 years specifically in the Pharmacy, Pharmaceutical Distribution, or Healthcare Retail industry.
• Industry Knowledge: Demonstrated understanding of pharmacy operational workflows, including batch tracking, expiry date management, and drug regulatory requirements.
• Technical Skills:
• Expert knowledge of accounting principles and procedures.
• Proven experience with ERP systems or accounting software used in the retail/pharmacy sector (e.g., SAP, Tally, specialized pharmacy POS software).
• Advanced MS Excel proficiency.