1. Financial record-keeping and reporting

• Maintain day-to-day accounting ledgers (general ledger, accounts payable/receivable, petty cash).
• Prepare and post journal entries related to expenses, revenue, depreciation, accruals, and provisions.
• Reconcile bank statements, supplier statements, and customer accounts.
• Generate monthly, quarterly, and annual financial statements and management reports.

1. Invoicing, billing, and revenue control

• Issue and follow up on customer invoices for ship repairs, incurring labor, materials, and subcontractor services.
• Ensure revenue recognition in line with applicable accounting standards and contract terms.
• Manage credit notes, discounts, and rebates as per company policy.
• Monitor aging of receivables and coordinate collections with sales and operations.

1. Accounts payable and procurement support

• Process supplier invoices for materials, salvage, equipment, workshop services, and subcontractors.
• Verify accuracy against purchase orders, repair orders, and receiving reports; resolve discrepancies.
• Maintain vendor master data, negotiate payment terms, and, when feasible, manage early payoff discounts.
• Schedule and process timely payments to external vendors and subcontractors.

1. Payroll and human resources support (where applicable)

• Assist with payroll processing, time-keeping, leave encashment, and statutory deductions.
• Ensure compliance with wage regulations, social security, tax withholdings, and benefits.
• Maintain payroll records and respond to employee queries on payroll matters.

1. Cost accounting and project finance

• Track project costs for each ship repair job (labor, materials, subcontractors, consumables).
• Allocate overheads and support the project management team with cost-to-complete analysis.
• Prepare job cost reports, variance analyses, and profitability assessments for individual repair projects.
• Assist with budgeting and forecasting for ongoing and upcoming repairs.

1. Cash and treasury management

• Monitor cash flow projections and working capital needs.
• Manage petty cash, advance payments to crew or subcontractors, and cash shipments for parts.
• Assist with banking relationships, fund transfers, and foreign exchange if required for imports.

1. Compliance, governance, and audit readiness

• Ensure compliance with statutory requirements (GST/VAT, income tax, payroll taxes, statutory audits).
• Maintain a chart of accounts, a fixed assets register, and depreciation schedules.
• Prepare internal controls documentation and support external audits.

1. Document control and contract administration support

• Maintain contract files, repair orders (ROs), work orders, and change orders.
• Ensure proper documentation for revenue recognition, warranty claims, and customer approvals.
• Manage correspondence with clients, shipowners, and brokers as needed.

1. Insurance, risk management, and warranty administration

• Track insurance policies (damage, hull and machinery, liability) and renewals.
• Process claims related to ship repairs, including documentation and liaison with insurers.
• Manage warranty claims for parts or workmanship and coordinate with vendors.

1. Logistics and inventory management (spares, consumables, and tools)

• Track inventory levels of spare parts, materials, and consumables used in repairs.
• Coordinate with procurement to reorder critical items and avoid project delays.
• Perform stock reconciliation and write-offs for obsolete or damaged items.

1. Financial controls and process improvement

• Develop and enforce standard operating procedures for accounting processes.
• Identify process inefficiencies and implement automation (e.g., ERP, invoicing workflows).
• Support month-end close, reconciliation schedules, and internal control testing.

1. MIS, analytics, and decision support

• Build dashboards for job profitability, cash flow, and ageing reports.
• Provide ad hoc financial analysis to management to support decision-making on repairs, pricing, and outsourcing.

1. Customer and vendor communication

• Act as a liaison between operations, project managers, and finance to ensure accurate billing and timely payments.
• Address client queries (shipowners, brokers) regarding invoices, credits, and payment terms.

Practical tips for success in this role in ship repair:

• Understand common repair contract types (time-and-materials, fixed-price) and how they affect revenue recognition.
• Align costing with the project lifecycle: planning, execution, testing, and delivery.
• Maintain tight controls over change orders and variations to avoid scope creep that impacts margins.
• Develop a robust backlog and ageing report to manage cash flow and working capital.
• Leverage industry-specific software (ERP with project costing, inventory, and inter-branch accounting) for accuracy and efficiency.