Reports to Head of Finance
Primary Purpose of Position:
Responsible for the effective contribution to the organisation's success by fulfilling responsibilities with dedication, professionalism, and alignment with company values. As an employee, you are required to uphold the organisational values, which include: 1. Respect and Loyalty. 2. Innovation and Adaptability. 3. Staff Development. 4. Customer delight. 5. Quality Driven.
General Description:
Play a vital role in the operations of the organization by maintaining accurate financial records. The Finance Administrator will manage all financial transactions, post debits and credits, reconcile accounts, and ensure that all financial records are accurate and up to date. This role requires a strong understanding of accounting principles, regulatory compliance, and proficiency in accounting software, preferably Syspro.
PRINCIPAL DUTIES AND RESPONSIBILITIES:
Request and verify supplier documents, ensuring all invoices, credit notes, and adjustments are processed accurately for both local and foreign suppliers, ensuring accurate allocations to the General Ledger.
Ensure that relevant and accurate documents from the Supply Chain, including purchase orders, goods received notes, delivery notes, invoices and credit notes, are correctly attached.
Reconcile supplier accounts to statements and the Accounts Payable Trial Balance and manage timely payments to take advantage of discounts where applicable.
Conduct weekly checks with the Supply Chain Department for any urgent payments and alert the Leadership Team as necessary.
Administer and reconcile credit card and fleet card transactions, ensuring accurate allocations to the General Ledger.
Load and verify supplier bank details and payments on the banking platform, ensuring security and accuracy.
Manage supplier accounts, ensuring discounts are taken and paid on time for qualification for discount, if appropriate, based on current cash flow forecasts.
Review and manage supplier master data and highlight differences between Syspro, supplier records and beneficiary details on bank.
Reconciliation of Accounts Payable Subledger accounts to General Ledger accounts at month-end.
Review month-end revaluation of foreign Accounts Payable to reflect accurate liabilities in foreign currencies, ensuring that all balances are reported at the prevailing exchange rates.
Process and manage all aspects of invoicing, credit notes, receipts, and adjustments for local customers, ensuring accurate allocation and management of payment receipts.
Ensure that all Accounts Receivable transactions are accurately allocated to the General Ledger.
Distribute client statements and invoices promptly and address any inquiries regarding unpaid invoices with thorough investigation and timely resolution.
Address and assist in the resolution of account and client disputes, facilitating a satisfactory outcome for all parties involved.
Initiate contact with customers to secure payment of outstanding amounts.
Maintain the Accounts Receivable ageing report, actively managing and following up on outstanding receivables, and maintaining clear lines of communication with both customers and the Leadership Team.
Engage in regular communication with the Leadership Team regarding overdue accounts, providing updates and escalating issues as necessary.
Conduct daily reviews of customer account statuses, promptly addressing overdue balances and assessing credit risk.
Communicate with customers to negotiate payment solutions as needed.
Report to the Leadership Team on at-risk accounts, recommending actions such as placing accounts on hold or adjusting credit terms to mitigate risk.
Collaborate with the Leadership Team to enforce credit policies, ensuring decisions on credit holds or adjustments are clearly communicated to customers.
Liaise with Sales and Customer Service to align accounts receivable management with broader business goals, regularly reviewing credit limits and terms to adapt to the financial landscape.
Identify debtors that may need to be provided for and recommend appropriate actions to the Leadership Team.
Collaborate with various departments to ensure customer account statuses are up-to-date and any issues are addressed promptly.
Facilitate the setup of new customer accounts in Syspro, ensuring a smooth onboarding process.
Manage and reconcile customer prepayments, ensuring that all funds are accounted for and properly allocated and processing any credit notes as necessary.
Liaise with the Sales Department to follow up on items that have been dispatched but not invoiced, ensuring all sales are invoiced correctly.
Reconciliation of Accounts Receivable Subledger accounts to General Ledger accounts at month-end.
Review month-end revaluation of foreign Accounts Receivable to reflect accurate assets in foreign currencies, ensuring that all balances are reported at the prevailing exchange rates.
Process payments, receipts, and transfers timeously, ensuring accurate allocations to the General Ledger.
Review the Cash Book to ensure that there are no errors or duplicated transactions.
Ensure that all transactions are correctly recorded – the amount, period, classification, and allocation and are valid.
Perform weekly and monthly bank reconciliations to the bank statement and the General Ledger, including following up and clearing reconciling items.
Ensure that the month-end bank statement is being used to perform the bank reconciliation.
Ensure that all transactions up to the last day of the month are recorded in the Cash Book and unprocessed transactions are provided for: Report on daily cash balances report o Day-to-day cash management, including: ? Manage transfers between banks (daily, weekly, and monthly) ? Loading transfers on the bank (daily, weekly, and monthly) ? Clear overdrafts, credit cards, and access bonds with excess funds in other accounts
Ad hoc payments.
Update and maintain cash flow forecasts, sharing insights with the Finance Department and the Leadership Team.
Assist with liaising with banks regarding unidentified/unallocated payments.
Reconciliation of Cash Book Subledger accounts to General Ledger accounts at month-end.
Review month-end revaluation of foreign Cash Books to reflect accurate assets in foreign currencies, ensuring that all balances are reported at the prevailing exchange rates.
Manage the Fixed Asset register, including additions, depreciation, and disposals, including monthly reconciliations.
Reconcile Fixed Asset Register to GL monthly.
Maintain the taxation wear & tear register.
Ensure validity of capital work in progress.
Maintain the integrity of the General Ledger by ensuring all financial transactions are accurately recorded and by performing regular reconciliations of sub-ledger accounts to the trial balance.
Process correcting journal entries as needed to amend any discrepancies or errors found during the reconciliation process, ensuring the accuracy and reliability of financial data.
Collaborate with the accounting team to review and verify the general ledger entries and adjustments, providing a solid foundation for accurate financial reporting and analysis.
Maintain the Trial Balance by reconciliating the General Ledger.
Prepare tax schedules for various expenses, including repairs & maintenance, consulting fees, professional fees, legal fees, and overseas travel.
Process and manage all aspects of invoicing, credit notes, receipts, and adjustments foreign customers, ensuring accurate allocation and management of payment receipts.
Handle the receipt and allocation of cash collections, ensuring that all payments are accounted for accurately.
Manage the application and vetting process for new customers, ensuring compliance with company policies and accurate entry in Syspro.
Conduct regular reviews of customer master data within Syspro, identifying and rectifying any discrepancies to ensure data integrity.
Ensure a punctual month-end close and adherence to financial reporting deadlines.
Monthly deadlines: Month-end + 1 Working Day – Accounts Receivable o Month-end + 2 Working Days – Accounts Payable, Cash Book, Fixed Assets, Intercompany Loan Accounts o Month-end + 3 Working Days – Trial Balance/General Ledger
Prepare financial reports and summaries for Management, highlighting key issues and variances from the budget.
Assist in the preparation of year-end financial statements, preparation and support during audits.
Act as a point of contact for external audits, providing all necessary documentation and explanations.
Support the Financial Director and Head of Finance with ad-hoc analysis, reports, and presentations as needed.
Ensure adherence to reporting requirements and timely tax filings.
Maintain inter-company account balances and process VAT clearing journals.
Reconcile and process third-party payments.
Identify and implement process enhancements to optimise financial operations.
Contribute to the development of internal control policies and procedures.
Engage in finance-related projects, ensuring alignment with financial requirements.
Collaborate with IT and other departments on initiatives affecting financial systems.
Provide training and support to new and existing staff on finance processes and systems.
Stay updated with current trends in finance and accounting standards and share knowledge with the team.
Provide support to team members and contribute to staff meetings, offering insights and suggestions for process improvements.