General Description

PASSO Lubricants is providing total solution to its customers. Raw material is obtained from local market or either imported from other countries from the leading companies of the world.  This industry is not only helping to eradicate the joblessness in the country but also playing its role to strengthen the economy of the country.

 In this era, value addition is the most vital part of any industry.  This value addition is done through dedicated and motivated team member of Lubricant Industry. As we understand the challenges of the modern world and are adopting all means to remain in touch with the globe.

 We are committed to ensure the quality product to our consumer and equipped to resolve any problem if occurs at consumer end.

 We rely on ourselves, so that from raw material to any finished product, we are fully capable to produce in our premises using own resources.

ACCOUNTS & FINANCE SECTION

In any department, Finance section is the most important segment.   Accountant is responsible for smooth and efficient functioning of this section under the guidance of director, also formulate methods to minimize the expenditures.  He will remain in touch with the changing government policies and procedures regarding taxation, factory matters, import, export, and any other issues.

He will ensure that all registers and ledgers are being properly maintained.  Important documents, and cheque books will be kept in proper safe and all financial matters regarding bank accounts will be kept confidential.  Before any payment proper authorization will be taken from the Managing Director.

The Account team drives our growth platforms, supports our operational pillars, leverages our competitive advantage, and always delivers.

This section support sound business decision-making and innovation planning. Of course, they also help optimize growth, cash flows & long-term value creation and Business Development and Internal Controls of the company.

Following are the main responsibilities and function of this section: –

EQUIPMENT AND SUPPLIES  INVENTORY:

  • Maintains equipment and supply inventory records.
  • Prices and records warehouse receipts, issues, and field transfers.
  • Prepares reports on equipment and supplies inventory.

ACCOUNTS PAYABLE:

  • Maintains accounts payable records.
  • Prepares vouchers for disbursements.
  • Distributes Receipts & Inventory dispatch.

PROPERTY ACCOUNTING

Maintains subsidiary records for

  • Proved properties
  • Work in progress

Accounts for property and equipment acquisition, reclassification, amortization, retirement, and sale.

Compares actual expenditures of work in progress to authorized amounts.

REVENUE ACCOUNTING:

  • Accounts for volumes sold and establishes or checks prices reflected in revenues received.
  • Maintains sales revenue records.
  • Maintains records related to properties for purposes of regulatory compliance and production taxes.
  • Computes production taxes.

Invoices for sales of Lubricants.

GENERAL ACCOUNTING:

  • Keeps the general ledger.
  • Maintains voucher register and cash receipts and disbursements records.
  • Prepare financial statements.
  • Prepares special statements and reports.

TAXES AND REGULATORY COMPLIANCE:

  • Prepare required federal and local tax returns for income taxes, production taxes, property taxes, and employment taxes.
  • Preparation of regulatory reports.

Addresses allowable options for minimizing taxes.