Plant Accounting Manager

About Derewala Industries Ltd. :

Derewala is a name synonymous with innovation, sustainability, and quality in the world of jewelry manufacturing. With cutting-edge technology and a global clientele, we are committed to creating timeless pieces while maintaining eco-friendly practices. Since our humble beginnings in 1987, we have adhered to the highest standards of quality and on-time delivery. Headquartered in Jaipur, India's jewellery hub, Derewala has expanded its global footprint, serving esteemed clients in over 30 countries across 6 continents.

Location - Sitapura, Jaipur.

Working Days - 6

Industry

• Jewellery Manufacturing

Key Responsibilities-

A. Financial Accounting & Reporting

Oversee and manage day-to-day accounting operations at the plant level in compliance with company policies and accounting standards (IND-AS / Companies Act).

Ensure accurate and timely posting of all plant-related transactions in the ERP system.

Perform month-end and year-end closing activities, including journal entries, accruals, and reconciliations.

Prepare plant-level financial statements, variance analysis, and MIS reports for management review.

Ensure timely submission of data to corporate accounts for consolidation.

B. Costing & Inventory Control

Supervise and validate product costing, process costing, and variance analysis (material, labor, and overhead).

Work closely with production, purchase, and stores teams to monitor consumption and wastage.

Ensure accurate valuation of WIP (Work in Progress) and finished goods inventory.

Conduct monthly inventory reconciliations and physical verification in coordination with operations.

Support cost reduction initiatives through analysis of cost trends and efficiency improvements.

C. Accounts Payable & Receivable Coordination

Oversee the AP process for plant-related purchases and expenses in a digitized environment.

Ensure proper 3-way matching (PO–GRN–Invoice) and compliance with GST and TDS regulations.

Review vendor and service provider payments, ensuring adherence to credit terms and approval workflows.

Coordinate with corporate treasury for payment scheduling and cash flow forecasting.

D. Statutory Compliance

Ensure timely and accurate compliance with statutory requirements including GST, TDS, and other local taxes.

Facilitate internal and statutory audits by providing required schedules and reconciliations.

Implement and monitor internal financial controls (IFC) at the plant level.

Maintain compliance documentation and audit trails for all plant transactions.

E. Budgeting & Forecasting

Assist in preparation of annual budgets and rolling forecasts for the plant.

Monitor actual performance against budgets and report deviations with reasons.

Support management with cost-benefit analysis and capital expenditure evaluation.

F. Process Improvement & Digitization

Drive automation and digitization of accounting processes within the plant.

Identify opportunities to enhance efficiency, accuracy, and transparency in financial operations.

Train plant accounting and operations staff on ERP, digital workflows, and accounting best practices.

Desired Candidate Profile

Education :

Chartered Accountant (CA) / Cost Accountant (ICWA) /

Strong understanding of IND-AS, Cost Accounting Standards, and GST regulations.

Experience :

7–12 years of experience in

manufacturing industry accounting , including at least 3 years in a plant or factory accounting role.

Exposure to

ERP systems (SAP / Tally Prime / Oracle)

and digital AP processes preferred.

Skills & Competencies :

Strong analytical and problem-solving skills.

Hands-on expertise in costing, budgeting, and variance analysis.

Proficiency in Excel, Power BI, and financial reporting tools.

Excellent communication and team leadership abilities.

Sound understanding of internal controls and audit readiness.

Ability to manage deadlines and multiple priorities