Senior Purchasing Manager KRA/KPI

Key Responsibility Areas (KRA) & Key Performance Indicators (KPI) for General Ledger Accountant

1. Financial Reporting

KRA: Ensure accurate and timely financial reporting for decision-making.

Short Description: Maintain financial records and prepare reports.

• Accuracy of monthly financial reports
• Timeliness in submitting reports
• Adherence to accounting standards
• Reduction in reporting errors

2. Account Reconciliation

KRA: Conduct regular account reconciliations to ensure financial integrity.

Short Description: Verify and reconcile accounts for accuracy.

• Percentage of reconciled accounts
• Resolution time for discrepancies
• Reduction in unreconciled items
• Accuracy of reconciliation reports

3. Budget Management

KRA: Assist in budget preparation and monitor budget performance.

Short Description: Support budgeting processes and analyze variances.

• Accuracy of budget forecasts
• Identification of budget variances
• Adherence to budget timelines
• Recommendations for cost-saving initiatives

4. Compliance Management

KRA: Ensure compliance with regulatory requirements and internal policies.

Short Description: Monitor and enforce compliance standards.

• Audit findings and compliance status
• Completion of compliance training
• Response time to compliance issues
• Implementation of compliance controls

5. Financial Analysis

KRA: Analyze financial data to provide insights and support decision-making.

Short Description: Interpret financial trends and forecasts.

• Accuracy of financial forecasts
• Identification of key financial metrics
• Timely financial analysis reports
• Contribution to financial strategy development

6. Process Improvement

KRA: Identify and implement process improvements to enhance efficiency.

Short Description: Optimize accounting processes for better outcomes.

• Percentage increase in process efficiency
• Reduction in processing time
• Feedback from stakeholders on process enhancements
• Cost savings from improved processes

7. Cash Flow Management

KRA: Monitor and manage cash flow to ensure liquidity and financial stability.

Short Description: Track and forecast cash inflows and outflows.

• Accuracy of cash flow projections
• Days sales outstanding (DSO) reduction
• Working capital optimization
• Cash conversion cycle improvement

8. Audit Support

KRA: Provide support during internal and external audits to ensure compliance.

Short Description: Assist auditors in reviewing financial records.

• Completion of audit preparation tasks
• Audit findings resolution time
• Feedback from auditors on support provided
• Improvement in audit outcomes over time

9. System Integration

KRA: Collaborate with IT teams to integrate financial systems for seamless operations.

Short Description: Ensure financial systems compatibility and data integrity.

• Successful system integration projects
• Data accuracy post-integration
• User feedback on system usability
• Reduction in manual data entry errors

10. Team Collaboration

KRA: Work collaboratively with cross-functional teams to achieve financial objectives.

Short Description: Foster teamwork and communication for shared goals.

• Feedback from team members on collaboration effectiveness
• Meeting project deadlines through teamwork
• Resolution of interdepartmental conflicts
• Employee engagement within the team

Real-Time Example of KRA & KPI

Financial Reporting Example

KRA: Timeliness in submitting financial reports.

• KPI 1: Percentage of reports submitted on time
• KPI 2: Average time taken to prepare a report
• KPI 3: Number of overdue reports
• KPI 4: Feedback from stakeholders on report quality

Describe how these KPIs led to improved performance and success.

Key Takeaways

• KRA defines what needs to be done, whereas KPI measures how well it is done.
• KPIs should always be SMART (Specific, Measurable, Achievable, Relevant, Time-bound).
• Regular tracking and adjustments ensure success in the role of a General Ledger Accountant.