Financial Reporting: Prepare financial statements such as balance sheets, income statements, and cash flow statements to reflect the financial health of the automotive business accurately. These reports are crucial for stakeholders, including management, investors, and regulatory authorities. Budgeting and Forecasting: Collaborate with management to develop annual budgets and financial forecasts for the automotive dealership or company. Monitor actual financial performance against budgeted targets and analyze variances to recommend adjustments as necessary. Accounts Payable and Receivable: Oversee accounts payable functions by processing invoices, making payments to vendors, and reconciling supplier accounts. Manage accounts receivable processes by issuing invoices, tracking customer payments, and following up on overdue accounts. Payroll Processing: Calculate and process payroll for automotive employees, including wage calculations, deductions, and tax withholdings. Ensure compliance with labor laws, union agreements, and employee benefits policies. Tax Compliance: Prepare and file various tax returns, including income tax, sales tax, and payroll tax filings, in accordance with applicable laws and regulations. Stay updated on changes to tax codes and advise management on tax planning strategies. Financial Analysis: Analyze financial data and performance metrics to identify trends, opportunities, and risks within the automotive business. Provide insights and recommendations to management for improving profitability and operational efficiency. Inventory Management: Monitor inventory levels of vehicles, parts, and supplies and reconcile inventory records to ensure accuracy. Implement inventory valuation methods and controls to minimize inventory shrinkage or obsolescence. Internal Controls: Establish and maintain internal controls and accounting procedures to safeguard assets, prevent fraud, and ensure compliance with financial policies and regulations. Conduct periodic audits to assess the effectiveness of internal controls. Financial Systems: Utilize accounting software and financial management tools to streamline accounting processes, automate routine tasks, and generate accurate financial reports. Stay updated on advancements in financial technology and recommend system enhancements. Audit Coordination: Coordinate with external auditors for financial audits and examinations. Provide audit support, respond to auditor inquiries, and address audit findings to ensure compliance with auditing standards. Cash Flow Management: Monitor cash flow and manage cash reserves to meet financial obligations and support business operations. Forecast cash flow requirements and recommend strategies to optimize cash management. Regulatory Compliance: Ensure compliance with accounting standards, regulatory requirements, and industry guidelines relevant to the automotive sector. Stay informed about changes in regulations and implement necessary adjustments to maintain compliance.