The finance department is responsible for all of the day-to-day transactional accounting for KNDI, such as raising and chasing invoices, paying bills and dealing with bank reconciliation. This involves managing cash flow and ensuring there are enough funds available to meet the regular payments. Alongside these activities, the head of finance is also responsible for advising and sourcing longer-term accounting.
The core finance department involve the following tasks:
At a basic level, this includes managing the sales and purchase ledgers, as well as processes for payroll and expenses. Bookkeeping also includes complex tasks such as bank and petty cash reconciliation, journals and tax returns.
This includes all cash flow analysis, income and expenditure, deferred income, depreciation, prepayments, funder reporting, the balance sheet and fund management.
This is where financial leaders interpret data for budgeting, forecasting, profitability and variances reporting. This is also where you compare performance year-over-year and performance against forecast.
Financial planning and analysis
This involves using data and analysis for big picture thinking, with business planning, financial strategy and investments.
Generating Management Report