Job Description – Finance Manager

Job Title: Finance Manager
Department: Finance and Accounts
Reports To: Chief Executive Officer / Chief Operating Officer / Board of Directors
Employment Type: Full-Time
Location: [Insert Location]

Job Summary

The Finance Manager is responsible for managing the company’s financial operations, maintaining accurate financial records, ensuring statutory and regulatory compliance, supporting management decision-making, and strengthening internal financial controls.

The position requires a commercially focused finance professional capable of managing accounting, budgeting, cash flow, taxation, payroll coordination, financial reporting, audits, and financial planning.

Key Responsibilities

1. Financial Accounting and Reporting

• Manage the company’s day-to-day accounting and financial operations.
• Maintain accurate and complete accounting records in accordance with applicable accounting standards.
• Prepare monthly, quarterly, and annual financial statements.
• Prepare management accounts, including profit and loss statements, balance sheets, and cash flow statements.
• Maintain the general ledger and ensure all transactions are recorded under the correct accounts, departments, projects, and cost centres.
• Review journal entries, accruals, prepayments, depreciation, provisions, and reconciliations.
• Ensure timely completion of monthly and annual financial closing processes.
• Present financial results, key variances, risks, and recommendations to senior management and the Board of Directors.

2. Budgeting and Financial Planning

• Lead the preparation of annual budgets and periodic financial forecasts.
• Monitor actual financial performance against approved budgets.
• Analyse budget variances and provide explanations and corrective recommendations.
• Prepare cash flow forecasts and monitor the company’s short-term and long-term funding requirements.
• Support management in developing financial targets and business growth plans.
• Conduct financial feasibility, profitability, and cost-benefit analyses for new projects, products, investments, and business opportunities.

3. Cash Flow and Treasury Management

• Monitor daily cash flow and ensure adequate funds are available for operational requirements.
• Manage company bank accounts, online banking activities, deposits, payments, and fund transfers.
• Review and approve bank reconciliations.
• Plan supplier, employee, statutory, and other business payments according to approved payment schedules.
• Monitor accounts receivable and follow up on overdue customer balances.
• Manage working capital and recommend improvements to the company’s cash conversion cycle.
• Maintain effective relationships with banks and other financial institutions.

4. Accounts Receivable and Accounts Payable

• Supervise customer invoicing, receipts, credit notes, and outstanding balance management.
• Monitor ageing reports and coordinate collection activities.
• Review supplier invoices, purchase-related documents, payment requests, and payment vouchers.
• Ensure payments are properly authorised and supported by appropriate documentation.
• Reconcile customer, supplier, and related-party accounts.
• Establish and monitor appropriate customer credit limits and payment terms.

5. Taxation and Statutory Compliance

• Ensure compliance with applicable Sri Lankan tax laws, statutory requirements, and financial regulations.
• Coordinate the accurate and timely preparation and submission of applicable tax returns and payments, including corporate income tax, VAT, APIT, withholding taxes, and other relevant taxes.
• Coordinate EPF, ETF, payroll-related statutory deductions, and required submissions with the responsible HR or payroll personnel.
• Maintain proper supporting documents for statutory payments, tax computations, and regulatory submissions.
• Liaise with the Inland Revenue Department, Department of Labour, Registrar of Companies, auditors, tax consultants, and other regulatory authorities when required.
• Monitor changes in tax and financial regulations and advise management on their impact.
• Assist in preparing and submitting annual returns and other corporate compliance documents.

6. Payroll and Employee-Related Finance

• Review monthly payroll calculations before processing.
• Verify salaries, allowances, overtime, commissions, bonuses, deductions, no-pay adjustments, APIT, EPF, and ETF calculations.
• Ensure payroll payments and statutory deductions are processed accurately and on time.
• Maintain appropriate confidentiality over employee salary and payroll information.
• Reconcile payroll records with the general ledger.