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
