Finance & Accounts
Functions of the Department
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Providing funds @ right time at an optimal
cost.
Providing timely qualitative data and
reports.
Payments on due date for Vendors.
Key responsibilities of Accounts
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TDS on salary and other payments- Recovery,
remittance and issue of certificate
Coordinating statutory audit, tax audit and Internal
audit.
Sales tax remittance and all statutory remittance
on due date.
Fixed asset maintenance, custody and verification
Insurance for stocks at godown
Stock maintenance of our transit godown at
Pondy.
Regular activities in Accounts &
Finance
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Releasing payments
Online updation of cash payments/bank
payments / receipts
Sending payment advice details to the
parties with payment
Salary processing and allowances
processing
Funds transfer to RO.
Reports from Accounts & Finance
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Monthly profit and loss report
Monthly balance sheet
Monthly fund flow
Analysis of bad debts
Sales return
Damages Below the line sales promotions
effectiveness
Responsibilities For MIS
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In order to enable the top management to take
decisions and direct the activities towards the
corporate goal
Finance and accounts department is responsible
in providing timely and accurate as well as
qualitative reports on the operations of the
company based on
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The cash flow, margins analysis, profitability, variances,
stock and debtors, policy violations, damaged stocks,
sales returns, fund flow and other areas identified.
Budgets and Variance Analysis
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Compiling and preparing annual budget
Monthly variance analysis and reporting
Discussion with functional heads to attack
negative variance.
Sales variance
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Region wise profitability comparison
Region / brand product wise profitability
Other Activities
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Treasury Operations
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Set up required working capital limits for each of the
divisions
Arrange Long Term funds if it is necessary
Deploy short term funds
Induct bankers for Cash Management Services (CMS)
Insurance:
The Finance & Accounts department negotiates with
insurance companies for adequate coverage of at
minimum cost with exhaustive coverage risks of
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Godown
Stock in transit cash at chest & cash in transit.
For employees and family members of CavinKare.
Other Activities contd…
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Sales Rate Updation:
Accounts department calculates the setting rate
of various products based on the schemes
offered and updates the setting price for each
batch of the product so that commercial can
invoice from regions.
Banking activity at HO
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Finance & Accounts Department analyze
the funds required at various points of time
And arrange funds from long term / short
term sources.
These would typically be banks or financial
institutions.
It also compiles cash flow on a monthly
basis to estimate funds required for a
month.
Employee Related Activities
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Reimbursements
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Processing the reimbursement claims submitted
by each employee against their perquisite basket
amount.
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Accounts department will collect the
reimbursement form on 20th every month
Checks for the genuineness and updates their
utilizations and make the payment to employees.
Employee Related Activities
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Salary
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A day before the last day of every month salary
will be credited and same will be made available
online @ my.cavinkare.com for employee to view
along with the allowances.
Both Salary and allowances are credited directly
to the employee account.
CKPL has tie up with the ICICI bank for the
salary account.
Employee Related Activities
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Taxation
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Accounts department circulates the investment plan form
to employees for the tax planning.
Based on the employees investment plan tax will be
deducted on a uniform basis.
In the month of March, Accounts check for the proof of
investment of employees based on the investment plan
given
Ensure that the tax deducted from salary is adequate to
cover the liability of the employee salary taxation.
Form 16 will be distributed after March for employee tax
returns