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Finance & Accounts

Functions of the Department

 Providing funds @ right time at an optimal
 Providing timely qualitative data and
 Payments on due date for Vendors.
Key responsibilities of Accounts
 TDS on salary and other payments- Recovery,
remittance and issue of certificate
 Coordinating statutory audit, tax audit and Internal
 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
Regular activities in Accounts &
 Releasing payments
 Online updation of cash payments/bank
payments / receipts
 Sending payment advice details to the
parties with payment
 Salary processing and allowances
 Funds transfer to RO.
Reports from Accounts & Finance
 Monthly profit and loss report
 Monthly balance sheet
 Monthly fund flow
 Analysis of bad debts
 Sales return
 Damages Below the line sales promotions
Responsibilities For MIS
 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
 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
 Compiling and preparing annual budget
 Monthly variance analysis and reporting
 Discussion with functional heads to attack
negative variance.
 Sales variance
 Region wise profitability comparison
 Region / brand product wise profitability
Other Activities
 Treasury Operations
 Set up required working capital limits for each of the
 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
 Godown
 Stock in transit cash at chest & cash in transit.
 For employees and family members of CavinKare.
Other Activities contd…
 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
 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
 It also compiles cash flow on a monthly
basis to estimate funds required for a
Employee Related Activities
 Reimbursements
 Processing the reimbursement claims submitted
by each employee against their perquisite basket
 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
 Salary
 A day before the last day of every month salary
will be credited and same will be made available
online @ 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
 Taxation
 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
 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