Major Activities of Finance Department in an Organisation
Today we are sharing with you all the Major Activities of Finance Department in an organization.
Major Activities of Finance Department :
- Receive Invoices.
- Verify authentication of records.
- Make entries in Books of Accounts.
- Payment to vendors as per credit policy
- Investment of surplus funds.
- On time Preparation and filling of returns (Service Tax, VAT, TDS etc.)
- Deposit of PF and ESI within due date.
- On Time Disbursement of salary after verifying salary sheets.
- Collection of Raw data for Costing.
- Costing Analysis from raw data
- Reconcile Bank Statements
- Preparation and finalization of Financial Statements.
- Preparation of fund flow and cash flow statements on Quarterly basis.
- Budget Analyses for next years.
- Maintenance of records as per regulatory law.
- Registration under different regulatory laws.
- Maintain and Update FAR.
- Swapping of Funds when needed.
- Coordinating and interacting with the statutory and Internal Auditors.
- Budget Comparison of Actual v/s. Budgeted
- Issue of Debit and Credit notes.
- Physical verification of Stock and Fixed Assets.
- Treasury and Working Capital management.
- Raise fund from different sources.
- Provide Guidance and assistant to top management on Financial Matters.
Hope you will now know All Major Activities of Finance Department in an organization and if you think we missed some of the major roles then do comment and let every one know
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