Accountant

Industry: Mutual Fund Distribution (MFD)

Department: Accounts & Finance

Designation: Accountant

Reporting To: Business Owner

Job Purpose

Manage day-to-day accounting, financial records, banking transactions, commission reconciliation, taxation, and statutory compliance for the Mutual Fund Distribution (MFD) business, ensuring accurate, timely financial reporting.

Key Roles & Responsibilities

1. Accounting & Bookkeeping

• Maintain day-to-day accounting and financial records.
• Handle purchase, sales, receipt, and payment entries.
• Maintain general ledger, cash book, bank book, and journal entries.
• Prepare monthly profit and loss statements and balance sheets.
• Maintain records of expenses, income, assets, and liabilities.

2. Mutual Fund Commission Accounting

• Track and reconcile mutual fund trail and upfront commissions received from AMCs.
• Verify commission statements received from AMCs and RTAs.
• Reconcile commission income with bank credits.
• Identify discrepancies in commission payouts and coordinate with AMCs to resolve them.
• Maintain AMC-wise and scheme-wise commission records.
• Track GST/TDS deductions, wherever applicable.

3. Bank & Payment Reconciliation

• Perform regular bank reconciliation.
• Monitor incoming commission payments.
• Verify vendor payments and employee reimbursements.
• Maintain records of outstanding payments and receivables.

4. GST & Taxation

• Prepare and coordinate GST returns and related documentation.
• Maintain GST input and output records.
• Assist in TDS calculations, deductions, and return filings.
• Coordinate with CA for income tax returns, tax audits, and other statutory requirements.
• Ensure timely payment of taxes and statutory dues.

5. MIS & Financial Reporting

• Prepare monthly income and expense reports.
• Generate AMC-wise commission reports.
• Prepare monthly business profitability reports.
• Monitor operating expenses and cash flow.
• Provide financial data and reports to management as required.

6. Compliance & Documentation

• Maintain proper financial records and supporting documents.
• Maintain vendor, employee, and AMC-related financial records.
• Ensure accounting documentation is audit-ready.
• Assist in internal and external audits.
• Maintain confidentiality of financial and client-related information.