The Accounts Executive will be responsible for managing the daily financial transactions and records of the hostel, ensuring accuracy, compliance with regulations, and timely reporting. This role requires a detail-oriented individual with a strong understanding of accounting principles and hospitality operations to support the hostel's financial health and strategic decision-making.
Key Responsibilities
Financial Operations & Record Keeping:
Manage accounts payable (AP) and accounts receivable (AR) processes, including verifying invoices, processing payments to vendors, and collecting payments from guests or third-party booking agents.
Record and maintain all day-to-day business transactions (sales, purchases, receipts, payments) accurately in the accounting software (e.g., Tally Prime, QuickBooks).
Perform daily cash management functions, including tracking daily cash deposits and reconciling all cash flow activities.
Conduct monthly bank reconciliations and general ledger reconciliations to resolve discrepancies and ensure accuracy.
Reporting & Compliance:
Assist in the preparation of monthly, quarterly, and annual financial statements, including income statements, balance sheets, and cash flow statements.
Prepare and submit tax returns and other statutory filings (e.g., GST, TDS) and ensure compliance with all local financial regulations and laws.
Support internal and external audits by preparing necessary documentation and providing information.
Budgeting & Analysis:
Assist in budget preparation and financial forecasting processes.
Analyze financial data and identify trends to provide insights and recommendations for cost-saving initiatives and revenue enhancement to management.
Monitor actual results against budgeted amounts and report on variances.
Interdepartmental Collaboration:
Work closely with other departments (e.g., Front Desk, Operations) to ensure accurate and timely financial information and smooth operations.
Handle guest/vendor queries and complaints regarding bills, invoices, or payments, ensuring a professional and satisfactory resolution.
Qualifications & Skills
Education: Bachelor's degree in Accounting, Finance, Commerce, or a related field.
Experience: Proven experience as an Accounts Executive or in a similar accounting role, preferably within the hospitality industry (hotel/hostel).
Technical Skills:
Proficiency in accounting software (e.g., Tally Prime, QuickBooks).
Strong proficiency in Microsoft Office, particularly Excel (for financial analysis and reporting).
Familiarity with Property Management Systems (PMS) is a plus.
Soft Skills:
Excellent attention to detail and a high level of accuracy.
Strong analytical and problem-solving skills.
Excellent communication (written and verbal) and interpersonal skills.
Strong organizational and time-management skills, with the ability to manage multiple tasks simultaneously.
Ability to work independently and collaboratively as part of a team.