Prashant Balkrishna Howal

[email protected] (+91) 9773321806 1/3, Vasant Pawshe Chawl, Pune Link Road Behind Lokhande Ration Shop, Katemanivali, Kalyan East. Thane- 421306, State-Maharashtra, India
LinkedIn: https://www.linkedin.com/in/prashant-ohal-76530b173

PROFESSIONAL SUMMARY

Experienced Professional with proven work experience in Finance & Accounting. Expertise in Budgeting, Financial Planning, and Control Mechanisms. Proficient in Cost Forecasting, Monitoring, and Auditing processes. Skilled in conducting Profitability Projections, Trend Analysis, and Financial Analysis. Experienced in preparing comprehensive Accounting and Bookkeeping manuals. Proficient in Bank, Vendor, and Customer Account Reconciliation. Comprehensive knowledge of GST compliance, filing, and reconciliation. Extensive experience in ERP migration, including transitions from Tally to Baan Infor, and Baan Infor to SAP S/4HANA. Proficient in ledger scrutiny and resolving discrepancies with accuracy. Experienced in leading and mentoring teams, fostering professional development, and ensuring high-performance outcomes. Strong team player with excellent communication and time management skills.

WORK EXPERIENCE

Associate Manager – Finance & Controlling
07/2021 - Present
Godrej Koerber Supply Chain Ltd.
Analysed and validated order data to generate reports on trends, variances, and forecasts. Provided actionable insights for product, region, and customer segments, aiding revenue planning and business growth.
Conducted SD and FICO sessions for users, providing functional guidance. Ensured accurate data entry, process optimization, and system integrity to enhance operational efficiency and decision-making.
Ensured accurate GST filing and reporting by validating invoices and tax calculations. Monitored compliance with GST regulations, resolved discrepancies, and supported audits to mitigate risks and ensure statutory adherence.
Performed GL account reconciliations, variance analysis, and trend reporting. Ensured accurate postings, identified discrepancies, and provided actionable insights to improve financial reporting and compliance with accounting standards.
Reporting Costs v/s Budgets in the monthly Review Commercial with variance & reasons for cost deviations to management as Early Warning report for likely variance in Management Reserve & Margin.
Monthly Cost Tracking and sharing report with Departmental Heads for better Operational control.
Monitoring Company Cash Flow monthly basis and report to management with variance & reasons.
Account Receivable: Ensure invoice submissions, updating internal records and follow up for timely payments with customers. Send structured communications to customer including monthly financial statement (Invoice wise detailed billing breakup with Payment Terms, Collection Detail, Billing Summary against PO line, Outstanding) for timely and periodic reconciliation.
Ensuring Timely and accurate completion of Statutory Audit & Calendar Year (Accounts Receivables inc. aging with retention, Revenue testing - Matching with Sales register, Analysis of GL with reason for variation, Balance confirmation of Customers, Provisions, Balance confirmation of other assets / liabilities, Bad Debts as per policy, 26AS Reconciliation with TDS Recoverable).
Ensuring Timely and accurate completion of Statutory Audit & Calendar Year (Audit Accounts Payables inc. aging, Accounts Receivables inc. aging with retention, Revenue testing - Matching with Sales register, Analysis of GL with reason for variation, Balance confirmation of Supplier and Customer, Inter Company Reco, Balance confirmation of other assets / liabilities, Bad Debts as per policy, 26AS Reconciliation with TDS Recoverable).
Ensuring timely completion of internal audit.
Ensuring all accounting compliances.
Preparation, Examination and Analysis of Accounting Records.
Prepared accurate expense provisions by analysing trends and pending liabilities. Ensured timely recording, compliance with accounting standards, and proper reconciliation to support financial reporting and year-end closing processes.
Managed asset master data, acquisitions, depreciation, and disposals in SAP. Acted as process owner, ensuring compliance, process efficiency, and accurate reporting for fixed asset lifecycle management.
Ensured accurate and prompt order booking in SAP by coordinating with teams. Monitored order status, resolved discrepancies, and optimized processes to improve operational efficiency and reduce delays
Monitored service contracts and spare sales to ensure timely revenue recognition. Prepared segmented profitability reports while ensuring compliance with IFRS/Ind AS, enhancing accuracy and operational insights.
Deputy Manager – Finance & Controlling
10/2016 - 07/2021
Godrej Koerber Supply Chain Ltd.
Accounts Payable - Weekly analysis of outstanding payment and co-ordinate with Procurement Team for release of payment. Timely payment to MSME Vendor.
MIS Reporting - Ageing Analysis, Debtors/Creditors, Tour advances Ageing, Cash Flow Statement, Trend of Working capital, blocked debts, CC limit utilization.
Timely and accurately submission of tax returns: GST (GSTR-1, GSTR-3B) – Prepare detailed report and compilation dispatch of Goods & Service including information as per GSTR 1, Review Purchase Register for GSTR-2, Reconciliation of GST Input. Follow up with Buyer and escalations.
Accurate and timely accounting and reporting to meet month end deadlines.
Responsible for proper follow- up report to the management and regular review on the Debtors and creditors position.
Preparation of MIS reports for management to highlights on financial performance, as per management needs and requirements.
Maintaining, Updating & Monitoring inventory records.
Supervision of Accounts Payable function including responsibility for timely and accurate payments and tracking aging of payables and reconciliations.
Working on Target Budgets and Circulation of approved Target Budgets to teams.
Banking -Checking of documents for import payments, Submission of BOE to Bank against Advance Payment related to Import transaction, Checking Bank Reconciliation on Monthly basis, Checking of Monthly Bank Charges working.
Ensuring timely completion of internal audit.
Ensuring all accounting compliances.
Finalization of Accounts.
Handled intercompany transactions, ensured accurate postings, and reconciled balances across entities. Resolved discrepancies, maintained compliance with accounting standards, and supported timely financial consolidation and reporting.
Processing of the monthly, quarterly and annual closing of books.
Monitored inventory records for accuracy, analysed stock levels, and identified variances. Ensured proper valuation, compliance with accounting standards, and supported process improvements to optimize inventory management and reporting.
Assistant Manager – Finance & Controlling
07/2013 - 10/2016
Godrej Koerber Supply Chain Ltd.
MIS Reporting - Ageing Analysis of Debtors/Creditors, Advances Ageing, Cash Flow.
Accounts Payable – Checking Creditors Bills and responsible for timely release payment as per PO Terms.
Analysed trial balance for accuracy, identified discrepancies, and ensured proper ledger classifications.
Preparation of P&L and Balance Sheet.
Bank Reconciliations.
Ensured timely calculation, deduction, and payment of TDS and GST. Prepared accurate returns, reconciled data, resolved discrepancies, and ensured compliance with statutory regulations to avoid penalties.
Monitored day to day Purchase accounting and sales invoicing.
Preparing Credit Note and Debit Note.
Handle internal audit & Statutory Audit.
Finalization of Accounts.
TDS - Monthly TDS Working & payments, Filing of TDS Return, Issue TDS Certificate.
Sales Tax - VAT & CST monthly payment & filing Return Online, Working of Sales Tax payment, Arrange C & F form for OMS supplier, follow up for C form OMS customer, other work related to Sales Tax, Compliance of queries from VAT Audit Dept, Handle Sales Tax Assessment.
Monthly Provisions of Expenses and Services.
Preparing Credit Note and Debit Note.
Co-ordinating for yearly budgeting and monthly forecasts. coordinate with senior management and monitor reconciliation.
Preparing Monthly Trial Balance
Creation of invoices and accounting for the same on dispatch of goods/provision of services.
Senior Process Associate
05/2010 - 06/2013
Essar Group (Aegis Ltd)
Monthly Financial Closing: Execute month-end activities, including provisions, general ledger scrutiny, and finalizing Balance Sheet & P&L schedules.
MIS & Reporting: Prepare reports on expenditure variances, ageing, stock reconciliation, and intercompany reconciliations, ensuring accuracy and compliance.
Tax & Compliance: Compute TDS payable, reconcile it with actual payments, and prepare data for quarterly e-TDS returns.
Fixed Asset & Deposit Accounting: Maintain fixed asset records, track fixed deposit movements, input FD interest entries, verify TDS calculations, and ensure accurate reporting.
Foreign Exchange & Export Benefits: Perform foreign exchange valuation for vendor liabilities, account for FE gain/loss, and reconcile export benefit accounting with actual certificates.
Bank & Intercompany Reconciliations: Reconcile bank transactions across multiple companies, upload bank statements in SAP, and clear open entries while managing intercompany data validation and audit compliance.
Automation & Process Optimization: Analyse financial processes for automation, coordinate with teams globally, resolve open line items, and enhance data accuracy.
Quarterly & Monthly Closing Support: Ensure timely closing of financials, investigate reconciliation mismatches, and generate ageing reports for customers and vendors.
Audit In-Charge
11/2003 - 05/2010
Kastury and Talati (Chartered Accountant Firm)
Finalization of Accounts: Prepare and finalize accounts for Ltd. companies, Pvt. Ltd. companies, proprietary firms, and partnership firms across various sectors using Tally and SAP.
Audit & Compliance: Conduct statutory audits, income tax audits, and VAT/Sales Tax audits for companies, proprietary firms, and partnership firms, including bank branch audits.
Taxation & Returns: Compute total income, file income tax returns, quarterly e-TDS returns, and ensure compliance with Advance Tax, TDS, FBT, and Professional Tax payments.
Reconciliation Activities: Perform general ledger scrutiny, bank reconciliation, intercompany reconciliation, excise/TDS reconciliation, and sales tax reconciliation.
Sales & Purchase Verification: Verify sales and purchase orders, invoices, and conduct due diligence to ensure accuracy and compliance.
Payroll & Tax Documentation: Prepare Form 16 & 16A, maintain salary records, and compile data for income tax and sales tax scrutiny.
Share & Investment Accounting: Handle share accounting, including delivery-based transactions, futures & options (F&O), and speculation trades.
Indirect Tax Compliance: Work on VAT, sales tax, and service tax calculations, filings, and documentation to ensure regulatory adherence.

EDUCATION

B.com
01/2003
Mumbai University GPA: 66
H.S.C.
01/2000
Mumbai Board GPA: 70
S.S.C.
01/1998
Mumbai Board GPA: 61

SKILLS

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