Senior Account Executive

We are looking for an experienced Accounts & Finance professional with hands-on experience in the real estate industry to independently manage day-to-day accounting, GST, TDS, project costing and related financial/compliance activities.

The ideal candidate should have practical exposure to real-estate project accounting, including project-wise cost tracking, contractor/vendor accounting, RERA-related accounting, escrow/designated bank accounts and a basic understanding of TDR and development-related transactions.

This is a hands-on role requiring strong accounting fundamentals, attention to detail and the ability to coordinate with management, consultants, contractors, vendors, banks and statutory authorities.

Key Responsibilities:

1. Accounting & BookkeepingMaintain complete and accurate books of accounts for the real estate entity/project.

• Record and review day-to-day accounting transactions, including purchases, expenses, receipts, payments, journal entries and provisions.
• Maintain project-wise and cost-head-wise accounting.
• Handle vendor, contractor, customer and other ledger accounts.
• Perform regular bank, ledger and inter-company reconciliations.
• Monitor outstanding receivables and payables.
• Ensure proper accounting and documentation of advances, deposits, retention amounts and security deposits.
• Assist in preparation of monthly/quarterly MIS and financial reports for management.

2. Real Estate Project Accounting & CostingMaintain project-wise cost sheets and monitor actual costs against budgets/estimates.

• Understand and classify major real estate project costs such as:
• Land / development rights
• Construction and civil work
• Contractors and sub-contractors
• Architect/consultant fees
• Statutory and approval costs
• Finance costs
• Marketing and brokerage
• Infrastructure and development expenses
• Other project-related overheads
• Track committed, incurred and paid project costs.
• Reconcile project cost statements with books of accounts.
• Assist management in monitoring project profitability, cost overruns and cash flow.
• Understand basic accounting treatment relating to land acquisition, development rights and project development costs.

3. GSTPrepare and review GST workings for the real estate business.

• Handle GST data preparation and reconciliation for GSTR-1, GSTR-3B and other applicable returns.
• Perform GSTR-2B reconciliation and monitor eligible Input Tax Credit.
• Verify GST applicability and rate on various project-related transactions, including contractors, consultants, purchases and other expenses.
• Maintain proper GST documentation and records.
• Assist in responding to GST notices, queries and reconciliations in coordination with tax consultants.
• Ensure timely payment of GST liabilities.

4. TDS & Statutory CompliancePrepare monthly TDS workings and ensure timely deduction and payment.

• Handle TDS relating to contractors, professionals, rent, interest and other applicable payments.
• Prepare/review quarterly TDS returns and reconciliation.
• Verify TDS applicability on vendor and contractor payments.
• Maintain TDS records, certificates and reconciliations.
• Coordinate with consultants for statutory compliance and notices.

5. RERA & Escrow / Designated AccountsMaintain accounting records relating to RERA-registered projects.

• Understand the basic framework of RERA project collections and utilisation of funds.
• Maintain and reconcile RERA/designated/escrow bank accounts.
• Monitor project collections and transfers between designated accounts and other project accounts as applicable.
• Ensure proper accounting and documentation of project-related receipts and payments.
• Assist in preparation of information and reconciliations required for RERA compliance, CA certificates and project-level reporting.
• Coordinate with statutory auditors, RERA consultants and management for RERA-related requirements.

6. TDR & Development-Related TransactionsPossess a basic working understanding of TDR (Transferable Development Rights) and development-right transactions.

• Understand the accounting/documentation implications of transactions involving development rights, landowners, developers and joint development arrangements.
• Assist in maintaining proper records for TDR purchases/utilisation and related payments.
• Coordinate with management and professional consultants for accounting and tax treatment of such transactions.

7. Banking & Cash Flow ManagementHandle day-to-day banking transactions and bank reconciliations.

• Maintain project-wise cash flow information.
• Track collections from customers and payments to contractors/vendors.
• Prepare payment schedules and assist management in prioritising project payments.
• Monitor movement of funds between current, RERA/designated and other project-related bank accounts.
• Coordinate with banks for account-related documentation and transactions.

8. Audit & Professional CoordinationCoordinate with statutory auditors, tax consultants, GST/TDS consultants and other professional advisors.

• Prepare schedules, reconciliations and supporting documents required for audits.
• Assist in finalisation of accounts and preparation of financial statements.
• Provide timely information and explanations for audit and statutory requirements.
• Maintain proper documentation and audit trails for major transactions.
• Candidate ProfileEssential Experience4–8 years of relevant accounting experience, preferably with a real estate developer, builder, construction company or real estate group.
• Strong practical knowledge of accounting, GST and TDS.
• Prior experience in project-wise accounting and project costing is strongly preferred.
• Exposure to RERA accounting / designated or escrow accounts is preferred.
• Basic understanding of TDR, development rights, land transactions and real estate project structures.
• Experience in dealing with contractors, vendors and project-related expenses.
• Good understanding of bank reconciliation and cash-flow management.
• Educational QualificationB.Com / M.Com / CA Inter / CMA Inter or equivalent qualification.
• Candidates with strong practical experience in real estate accounting will also be considered.
• Technical SkillsStrong knowledge of Tally Prime / relevant accounting ERP.
• Good working knowledge of MS Excel, including reconciliations, Pivot Tables, SUMIFS, lookups and preparation of MIS.
• Working knowledge of GST and TDS portals.
• Ability to prepare and analyse project-wise accounting and costing reports.

Key Attributes We Are Looking ForThe candidate should be:

• Hands-on rather than purely supervisory.
• Strong in accounting fundamentals.
• Comfortable working independently.
• Detail-oriented and accurate with numbers.
• Capable of identifying accounting/compliance issues proactively.
• Comfortable dealing with large volumes of vendor and project transactions.
• Able to understand the commercial side of real estate transactions, not merely pass accounting entries.
• Capable of communicating effectively with management, consultants, contractors and vendors.

Preferred Candidate: Preference will be given to candidates who have worked with a real estate developer/builder and have practical exposure to:

Project Accounting + Project Costing + GST + TDS + RERA + Escrow/Designated Accounts + TDR/Development Rights + Contractor Accounting.

Key Performance ExpectationsWithin the role, the candidate should be able to independently ensure:

1. Books of accounts are updated and accurate.
2. Project costs are correctly classified and monitored.
3. GST and TDS workings are completed accurately and on time.
4. Bank and project reconciliations are maintained regularly.
5. RERA/designated account transactions are properly recorded and reconciled.
6. Management receives reliable project-wise financial information.
7. Audit and statutory information is available without last-minute follow-up.
8. Potential accounting, GST, TDS or project-costing issues are identified and escalated proactively.