Managing Financial Transactions:
Handling invoices, payments, expense reports, and maintaining accurate financial records using accounting software like Tally or ERP systems.
Financial Reporting:
Preparing and analyzing financial statements (balance sheets, profit and loss statements, cash flow statements), ensuring accuracy and compliance with accounting standards.
Budgeting and Forecasting:
Assisting with the development and monitoring of budgets, forecasting financial performance, and analyzing variances.
Tax Compliance:
Ensuring compliance with tax regulations, including VAT, GST, and corporate tax filings.
Audits and Compliance:
Coordinating with auditors during internal and external audits, and ensuring compliance with accounting practices, internal policies, and regulatory requirements.
Financial Analysis:
Providing financial analysis and support to management, including identifying trends and recommending business strategies.
Inventory Management:
In pharmaceutical companies, accountants may also be involved in inventory management, tracking drug formulations and related expenses.