The Finance Officer is responsible for maintaining accurate financial records, preparing budgets, monitoring expenditures, ensuring compliance with donor and government regulations, processing payments, supporting audits, and producing timely financial reports to facilitate effective decision-making.
Key Responsibilities
1. Financial Management
- Maintain accurate accounting records and financial transactions.
- Record all receipts, payments, tally entries, and bank transactions.
- Prepare monthly, quarterly, and annual financial statements.
- Ensure proper bookkeeping in accordance with accounting standards.
2. Budget Planning and Monitoring
- Assist in preparing annual organizational and project budgets.
- Monitor budget utilization and expenditure against approved budgets.
- Analyze budget variances and recommend corrective actions.
- Support program teams in financial planning.
3. Cash and Bank Management
- Maintain cash books and bank books.
- Prepare bank reconciliation statements monthly.
- Monitor cash flow and forecast funding requirements.
- Ensure proper custody of cash and financial documents.
4. Accounts Payable & Receivable
- Process vendor payments, staff reimbursements, and advances.
- Verify invoices, quotations, and supporting documents.
- Monitor outstanding advances and receivables.
- Ensure timely settlement of liabilities.
5. Donor Financial Compliance
- Prepare donor financial reports according to grant agreements.
- Ensure expenditures comply with donor guidelines and approved budgets.
- Maintain supporting documentation for donor-funded projects.
- Assist during donor financial reviews.
6. Statutory Compliance
- Ensure compliance with national tax laws and NGO regulations.
- Prepare tax deductions and statutory payments.
- Coordinate with government authorities when required.
- Maintain compliance with Provident Fund (PF), VAT, and other applicable regulations.
7. Procurement and Financial Control
- Verify procurement documentation before payment.
- Ensure procurement follows organizational policies.
- Maintain proper internal financial controls.
- Prevent fraud and financial irregularities.
8. Payroll Administration
- Prepare monthly payroll.
- Calculate taxes, PF deductions, and other employee benefits.
- Process salary payments.
- Maintain payroll records confidentially.
9. Audit Support
- Prepare schedules and supporting documents for internal and external audits.
- Respond to auditor queries.
- Implement audit recommendations.
- Maintain audit-ready documentation.
10. Financial Reporting
Prepare:
- Monthly financial reports
- Budget variance reports
- Cash flow reports
- Grant expenditure reports
- Management reports
- Present financial information to management.
11. Asset Management
- Maintain fixed asset register.
- Verify physical assets periodically.
- Record depreciation.
- Monitor inventory and equipment.
13. Documentation
- Maintain organized filing of financial documents.
- Archive vouchers, invoices, contracts, and supporting documents.
- Ensure records are available for audits and donor reviews.
