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Finance Responsibilities

The Finance function ensures Kyndof's financial health through clear accountability using the RABSIC framework. This page defines who owns what financial decisions and how finance coordinates with other departments to maintain profitability while supporting creative and operational excellence.

Finance Director​

RABSIC: A (Accountable)

The Finance Director owns all financial outcomes for the company. This person is accountable to the CEO and board for financial performance, reporting accuracy, cash management, and compliance. When financial targets are missed or exceeded, when audits reveal issues or validate strength, the Finance Director answers for those results.

Strategic financial leadership sits with this role. The Director shapes budget priorities, advises on pricing strategy, evaluates investment decisions, and provides financial perspective on major business choices. Should we expand into a new market? Can we afford additional production capacity? What pricing do we need to hit margin targets? The Finance Director brings financial rigor to these strategic questions.

Investor and lender relationships belong to the Finance Director. When we seek capital, this person leads financial due diligence, presents financial performance, and negotiates terms. Strong investor relationships depend on trust that our financial reporting is accurate and our financial management is sound.

Risk management accountability includes ensuring adequate insurance coverage, managing cash flow risks, and maintaining financial controls that prevent fraud or error. The Finance Director doesn't execute all these activities but owns the outcomes.

Team leadership means developing finance talent, setting performance standards, and ensuring the department has capabilities to support business growth. As Kyndof scales, finance systems and processes must scale too. The Director drives those capability investments.

Senior Accountant​

RABSIC: R (Responsible)

The Senior Accountant executes core accounting operations including daily transaction recording, month-end close, and financial statement preparation. This person ensures our books accurately reflect business activities and that financial reports are ready when leadership needs them.

Month-end close responsibility means coordinating all closing activities to deliver complete financial statements within five business days. The Senior Accountant reconciles accounts, reviews journal entries, analyzes variances, and prepares reports. Consistent execution of this monthly rhythm provides reliable financial visibility.

Financial statement preparation requires technical accounting knowledge and attention to detail. The Senior Accountant ensures revenue is recognized properly, expenses are recorded in the correct period, accruals are calculated accurately, and balance sheet accounts reconcile. Small errors compound into material misstatements if not caught.

Account reconciliation happens continuously, not just at month-end. Bank accounts, credit cards, and major balance sheet accounts get reconciled regularly to catch and resolve discrepancies quickly. Clean reconciliations prevent surprises during close.

Journal entry review involves examining entries prepared by AP, AR, and finance coordinators to ensure proper coding and documentation. The Senior Accountant serves as quality control before entries hit the general ledger.

Technical accounting questions from the team flow to the Senior Accountant for resolution. How should we account for this customer deposit? What's the proper treatment for this capital expense? Having one person as the accounting authority maintains consistency.

AP Specialist​

RABSIC: R (Responsible)

The AP Specialist manages all vendor payments, ensuring suppliers get paid accurately and on time while maintaining proper documentation and controls. This role is critical for supplier relationships—late or incorrect payments damage the relationships our supply chain team works hard to build.

Invoice processing starts with receiving vendor invoices and matching them to purchase orders and receiving documentation. Three-way matching (invoice + PO + receipt) prevents paying for goods we didn't order or didn't receive. The AP Specialist investigates and resolves discrepancies before processing payment.

Approval routing ensures appropriate sign-off before payments are made. The AP Specialist submits invoices to designated approvers based on amount thresholds and expense categories. Fabric purchases go to Production Manager, equipment purchases go to Operations Director, and so on. Tracking these approvals and following up on delays keeps payment timelines on track.

Payment execution happens on a regular schedule—typically twice weekly for standard payments, with rush payment capability for urgent needs. The AP Specialist generates payment files, initiates wire transfers for international suppliers, and prints checks for vendors requiring them.

Vendor relationship management includes responding to payment inquiries, resolving billing disputes, and maintaining vendor master data. When suppliers call with questions, they reach the AP Specialist who can explain payment status and timing.

1099 preparation for independent contractors happens annually. The AP Specialist tracks payments to contractors throughout the year and generates required tax forms by deadline. Compliance with tax reporting rules prevents IRS penalties.

AR Specialist​

RABSIC: R (Responsible)

The AR Specialist manages all client billing and collections, ensuring revenue gets invoiced promptly and payments are received according to terms. Cash flow depends on effective AR management—our financial health requires collecting what clients owe us.

Invoice generation happens immediately when billing milestones are met. For costume projects, this typically means invoicing deposits when clients approve designs, progress payments at fitting milestones, and final invoices upon delivery. The AR Specialist coordinates with Sales and Operations to know when these milestones occur.

Payment application involves recording client payments, applying them to correct invoices, and investigating discrepancies when payment amounts don't match expectations. Sometimes clients take unapproved discounts or make partial payments requiring follow-up.

Collections management includes monitoring overdue invoices and following up with clients. The AR Specialist uses escalating contact approaches—email reminders, phone calls, and eventually involving Sales for relationship-based collection efforts. The goal is collecting what's owed while maintaining client relationships.

Aging analysis provides weekly reporting on outstanding receivables by age category. Leadership needs visibility into how much clients owe and how long invoices have been outstanding. Trends in aging metrics signal emerging collection issues or improving payment patterns.

Customer credit management involves evaluating payment histories before extending credit to new clients or increasing credit limits for existing ones. The AR Specialist recommends credit policies that balance sales growth with credit risk.

Cost Analyst​

RABSIC: S (Support)

The Cost Analyst supports finance and operations by tracking production costs and maintaining the models that inform pricing decisions. This role bridges finance's need for accurate cost data and operations' need for efficiency insights.

Project cost tracking involves recording material costs, labor hours, and overhead allocations for each costume order. This granular tracking reveals true project profitability—not just whether we made money overall, but which specific projects contributed to that profit.

Cost model maintenance keeps our pricing models current with actual cost patterns. When fabric prices increase, when labor efficiency improves, when overhead structures change—the Cost Analyst updates models so pricing reflects current economics.

Variance analysis examines why actual costs differ from estimates. If a project's material costs ran 20 percent over budget, what drove that variance? Material waste? Design changes? Price increases? Understanding causes enables corrective action.

Efficiency dashboards provide operations with visibility into productivity metrics. Labor hours per garment, fabric yield percentages, and overhead absorption rates help operations identify improvement opportunities.

Financial reporting support includes preparing cost-related sections of monthly financial packages, analyzing margin trends, and supporting ad hoc financial analysis requests from leadership.

Finance Coordinator​

RABSIC: S (Support)

The Finance Coordinator handles administrative tasks that keep the finance function running smoothly. While less technically complex than accounting work, these activities are essential for department effectiveness.

Data entry support includes recording transactions in QuickBooks, filing documents, and maintaining organized records. Accuracy matters—small data entry errors create larger problems downstream.

Expense report processing involves reviewing employee expense submissions for policy compliance, ensuring proper documentation, and routing for approval. The Coordinator tracks reimbursement payments and answers employee questions about expense policies.

File management means maintaining organized digital and physical files for invoices, contracts, financial reports, and supporting documentation. Easy retrieval of historical documents is crucial for audits, disputes, and analysis.

Meeting coordination includes scheduling finance team meetings, preparing agenda materials, and documenting decisions and action items. The Coordinator also manages the finance department calendar of recurring deadlines.

Office support for the finance team involves ordering supplies, managing department resources, and handling routine administrative tasks that enable accountants to focus on technical work.

Cross-Functional RABSIC Relationships​

Operations Team (Consulted)​

Operations provides input on production cost standards and efficiency assumptions that inform our cost models. When we build pricing models, we consult operations about realistic labor hours, material yield expectations, and overhead allocations.

Operations is also consulted on capital investment decisions. If finance evaluates purchasing new production equipment, operations assesses operational benefits and provides usage projections that support ROI calculations.

Budget planning involves operations providing resource requirements and cost estimates for their planned activities. Finance synthesizes these inputs with revenue forecasts to build company budgets.

Sales Team (Consulted)​

Sales is consulted on client payment terms and credit policies. Sales knows client relationships and can assess which clients are reliable payers versus which present higher risk. This relationship intelligence informs our credit decisions.

Pricing strategy consultation with sales ensures our pricing models reflect market realities. Sales provides competitive pricing intelligence and client budget sensitivity that finance incorporates into pricing recommendations.

Revenue forecasting depends on sales pipeline visibility. Finance consults sales regularly on expected deal closings and timing to build accurate revenue projections.

Design Team (Consulted)​

Design is consulted when cost pressures require design modifications. If a project's material costs are running over budget, finance works with design to identify alternative materials or construction approaches that reduce costs while preserving design intent.

New material or technique feasibility discussions involve design providing technical requirements and finance evaluating cost implications. This consultation prevents pursuing design directions with unsustainable economics.

Supply Chain Team (Consulted)​

Supply Chain is consulted on vendor payment terms negotiations. Finance needs to balance cash flow management with maintaining supplier relationships. Supply chain provides context about which vendors are flexible on terms versus which require stricter payment schedules.

Supplier pricing trends and cost forecasts come from supply chain consultation. When building budgets, finance needs supply chain intelligence about expected material cost changes.

CEO and Board (Informed)​

Leadership is informed of financial performance through monthly financial packages, quarterly board reports, and annual financial statements. These reports provide comprehensive financial visibility including actuals versus budget, trend analysis, and forward-looking forecasts.

Significant financial events trigger immediate notification—major cash flow issues, large unexpected expenses, or material revenue shortfalls. Leadership needs to know about financial surprises promptly.

Strategic financial recommendations flow up to leadership for decisions. When finance analyzes investment opportunities or identifies financial risks, the Finance Director informs leadership with recommendations.

Decision-Making Flows​

Strategic Financial Decisions (Budget Allocation, Capital Investment, Pricing Strategy)​

Accountable: Finance Director Responsible: Senior Accountant (budget execution), Cost Analyst (cost modeling) Consulted: Operations, Sales, Design, Supply Chain (depending on decision context) Informed: CEO, Board

Major financial decisions start with analysis. The Finance Director may delegate analytical work to the Senior Accountant or Cost Analyst, but owns synthesizing inputs into recommendations.

Consultation brings relevant perspectives before decisions finalize. Capital investment requires operations input on utility and requirements. Pricing strategy requires sales input on market conditions and design input on cost drivers.

The Finance Director makes recommendations to CEO or board based on synthesized analysis and consultation. For decisions within the Finance Director's authority, they make the final call. For decisions requiring CEO or board approval, the Director presents recommendations and implements approved decisions.

Operational Financial Decisions (Invoice Processing, Payment Terms, Account Reconciliation)​

Responsible: AP Specialist (payables), AR Specialist (receivables), Senior Accountant (reconciliation) Consulted: As needed for non-standard situations Accountable: Finance Director (escalations only)

Day-to-day financial operations are executed by Responsible parties without Finance Director involvement. The AP Specialist processes invoices per established policies. The AR Specialist manages collections using standard procedures. The Senior Accountant reconciles accounts following regular schedules.

Escalation to the Finance Director happens for exceptions or high-stakes situations. Unusual payment requests, significant collection challenges, or material reconciliation discrepancies get Director attention.

This delegation enables operational speed while maintaining oversight on issues that matter strategically or carry significant risk.

Policy Decisions (Expense Policies, Credit Terms, Approval Thresholds)​

Accountable: Finance Director Consulted: Affected departments Informed: All employees

Policy decisions are accountable to the Finance Director but benefit from consultation. If we're setting client credit policies, sales input on relationship implications improves the policy. If we're updating expense policies, consulting employees who travel frequently ensures policies are workable.

Once policies are set, company-wide communication ensures everyone understands expectations. Policy effectiveness depends on consistent application, which requires clear communication and accessible documentation.

Metrics Ownership​

Each finance role owns specific metrics that track performance:

Finance Director: Operating margin, cash runway, budget variance, investor relationship health

Senior Accountant: Month-end close timeliness (5-day target), reconciliation accuracy, financial statement quality

AP Specialist: Invoice processing time (3-day target), vendor payment accuracy, early payment discount capture

AR Specialist: Days sales outstanding (DSO - 45-day target), collection rate, customer credit loss rate

Cost Analyst: Cost model accuracy (actual vs. estimate variance), margin analysis timeliness, efficiency metric quality

Finance Coordinator: Data entry accuracy, expense report processing time, file retrieval speed

These metrics drive continuous improvement conversations and help each person focus on their areas of responsibility.

Getting Started in Finance Roles​

New finance team members need strong attention to detail and commitment to accuracy. Financial errors have cascading consequences—incorrect costs lead to bad pricing, delayed closes frustrate leadership, payment mistakes damage vendor relationships.

Learn our systems thoroughly. QuickBooks configuration, approval workflows, and reporting structures must become second nature. Ask questions until you understand not just what to do but why we do it that way.

Understand the business context behind financial transactions. You're not just recording numbers—you're capturing the financial dimension of costume creation, client relationships, and supplier partnerships. Better business understanding leads to better financial judgment.

Seek feedback on your work quality. In finance, "good enough" isn't enough. Precision matters. If you're making frequent errors, investigate root causes and implement corrections before errors become patterns.

Build relationships with the people you interface with across the company. Operations, sales, supply chain—these departments depend on finance for financial information and services. Being responsive and helpful strengthens these partnerships.