Financial Accountant

The main purpose: To ensure the effective and efficient day-to-day functioning of the creditors function and support the financial manager in managing the Financial Department. Ensures compliance to the MFMA, related legislation and company policy. 

Reporting to the: Financial Manager

Key responsibilities will include but are not limited to:

1. Creditors/Accounts Payable

• Reviews and approves supplier reconciliations

- Anomalies identified and resolved

- Validation of reconciliation items

- Reconciliation supported by relevant documentation

- Compliance to accounting policies and procedures

• Supervises the accounts payable function

- Compliance to company policy and regulatory frameworks

- Creditors’ reconciliations reviewed

- Payments approved within approval levels

• Compiles management reports relating to the accounts payable function

- Reports meet management requirements

- Supplier Age Analysis

• Monitors and analyses specific cost centre expenditure

- Variances per cost centre and per event highlighted

• Reviews credit card reconciliations and expense claims

- Expenses valid and correctly coded

2. Debtors/Accounts Receivable

• Review debtors refund reconciliations

- To ensure that there are no credit balances

- Compliance to accounting policies and procedures

3. Cash Management

• Validates all petty cash balances received

- Petty cash account reconciled

• Issues cash floats to different department

- Parking and cash floats for other departments requested, issued and controlled

• Assists in accurate cash flow planning

- Ensures that sufficient funds are available for daily business obligations – Financial obligations are met

4. Compliance

• Implements and maintains internal control systems and business practices

- Compliance to all statutory requirements assured

- Changes in business practices/processes assessed for compliance to standards including IFRS and GRAP

• Ensures that records to meet legal and tax requirements are maintained

- Regulatory compliance

• Monitors and reviews accounting and related systems for accuracy and completeness

- Proactive identification of potential risk

• Manages the application of accounting policies and Standards

- Uniform compliance to approved accounting policies

- Corrective action taken on non-compliance

• Implements policy directives and formulates procedures for approval

- Policy directives implemented timeously

- Standard operating procedures and guidelines developed and implemented

• Maintains a sound internal control environment

- Compliance with all statutory rules and regulations

• Prepares and calculates monthly VAT returns

- VAT 201 duly authorised and submitted timeously

• Completes audit work papers

- Supports Financial Manager in completion of audit papers

5. Cash Book

• Oversee input of daily cash book entries

• Reconciliation of all daily cash balances

6. Payroll Administration

• Responsible for capturing payroll data input and ensuring that accurate reporting of payroll balances is maintained

7. Fixed Asset Management

• Oversee that accurate fixed asset management data input is maintained

• Reviews the reconciliation of the Fixed Asset Register to the general ledger

• Reviews and approves monthly depreciation run journal

• Review and approve journal entries for additions, disposals and transfers ensuring accuracy and quality

8. Inventory Management

• Oversee the inventory lifecycle for compliance to accounting policies and procedures

• Oversee the inventory process for midmonth and month end i.e. stock count, goods receipting, issuing, posting and checking of stock capture

• Reviews and approves inventory transactions journal entries

• Reviews and approves the General Ledger reconciliations and ensures that all variances are supported by relevant documentation

9. Monthly Close

• Prepares and captures all monthly accruals, reversals, general, pre-payments and recurring journals

- Accurate updating of general ledger

• Prepares GL reconciliations

- General ledger accounts reconciled

• Ensures that the control accounts agree to sub-modules

- Control accounts agree

10. People Management

• Team supervisory performance

- Competency development plans in place for all employees

- Optimal individual and team performance

- Performance reviewed in line with policy guidelines

- Agreed performance agreement in place and contain agreed goals, targets and are aligned to the job profile

- Performance and company values

• Trains, mentors and coaches team

- Realisation of individual employee’s highest potential

- Effective transfer of skills and knowledge