Accountant- Payments
- Post Date:December 6, 2022
- Views 467
- Career Level OtherQualification DegreeExperience 1-3 Years
- Industry Banking
Job Description
Business Unit: Finance- Payments
Geographical Area: Zimbabwe
Department: Finance
Vacancy Manager: Senior Manager
Purpose of the job
Provide effective supervision of the accounts payables and accounts receivables functions ensuring that all payments and receivables are processed in an accurate, efficient and timely manner.
Main Focus Areas
Accounts Payables/Receivables
- Review all supplier payments to ensure compliance with financial policies and procedures
- Obtain prior exchange control approvals for foreign payments as well as ensuring that all service agreements are pre-approved
- Check and authorise all payments batches initiated by the Payments team
- Authorise data capture relating to Accounts payables and Accounts Receivables in FlexCube and Netsuite.
- Maintain appropriate files, reports, documentation, and data.
- Maintain good relationships with vendors and both internal and external stakeholders
- Seek continuous improvement of the payment process
- Verify supplier profile changes and authorise such changes in Netsuite
- Run the accounting rules for all modules in Netsuite and reconcile the balances in each module for completeness
- Review the Prepayments and Accruals reconciliations prior to posting the adjustments in FlexCube and Netsuite
- Generate financial statements and reports detailing accounts payable and receivable status
- Compile payments summaries, reviewing expenses, preparing and posting correcting journals and generating summaries for reporting
- Carry out expense analysis on a weekly and monthly basis and initiate corrections for misposts and any other identified anomalies
- Prepare the cost containment reports and distribute the final reports to departmental heads
- Provide periodic analysis of income and expense lines and balance sheet lines and providing explanations for observed trends
- Keep track of all payments and expenditures, including purchase orders, invoices, statements, etc. ⢠Receive, investigate and respond to queries from suppliers, service providers and internal stakeholders â˘
Fixed Assets administration
- Record fixed asset purchases, depreciation, and disposals, and track existing fixed assets
- Calculate depreciation for all fixed assets.
- Review and update the detailed schedule of fixed assets and accumulated depreciation.
- Reconcile the balance in the fixed asset subsidiary ledger to the summary-level account in the general ledger.
- Carry out a periodic exercise to verify that all new assets have been recorded and tagged accordingly
- Conduct monthly update and reconciliation of the fixed asset register and regular checks against physical assets.
- Track the compilation of project costs into fixed asset accounts, and close out those accounts once the related projects have been completed.
- Maintain the Fixed Assets Module in Netsuite including running mass asset additions and the related reconciliations
- Create and monitor a system of controls, procedures, and forms for the recording of fixed assets.
- Recommend to management any updates to accounting policies related to fixed assets.
- Prepare audit schedules relating to fixed assets, and assist the auditors in their inquiries.
Provide reconciliations
- Reconcile processed work by verifying entries and comparing system reports to balances
- Maintain historical records in an orderly and structured manner to ensure quick access to information
- Reconcile the accounts receivable ledger to ensure that all payments are accounted for and properly posted
- Maintain an electronic database of all processed payments and carry out a verification exercise to confirm accuracy of General Ledger allocations, expense type, etc
- Ensure correct accounting for Prepayments and Accruals by preparing the relevant schedules and monthly journals
- Supervise payments processing on a daily basis
- Check accuracy of invoices i.e. amount, authorisation, and narration
- Ensure that all payments have sufficient and properly completed documentation before processing for payment, including obtaining exchange control approvals for foreign payments
- Pay foreign creditors ensuring they all have valid contracts and relevant taxes are withheld.
- Process Expense reports, cash advances and petty cash accurately and timely
- Prepare payments schedules and expense analyses
- Compile journal uploads and dispatch correction journals to other departments for capturing
- Authorisation of journals relating to Accounts payables and Accounts Receivables into FlexCube and Fusion.
- Develop and maintain Excel spreadsheets to support Accounts Payables and Accounts Receivables.
- Fixed assets administration
- Prepare and circulate monthly cost containment reports
- Perform monthly reconciliations
- Investigate and clear outstanding entries on all Accounts Payables
and Accounts Receivables reconciliations
Qualifications and Work Experience
- B.Comm, BA or BSc or equivalent in Accounting, Business Studies, Economics, Marketing or related field
- A minimum of 2 years experience in an Accounts Payables or similar role.
Skills and Competencies:
- Positive attitude.
- Attention to detail.
- Risk awareness.
- Task oriented
- Efficient time management.
- Ambitious and energetic, able to get things done.
- Confident and resilient.
- Excellent communicator.
- Initiative.
- Maturity and credibility
Job Related Knowledge
- Financial accounting skills, knowledge of International Financial Reporting Standards and experience in preparing financial statements and implementation of accounts.
- Knowledge of internal controls
- Computer literacy in spreadsheets, accounting packages and implementation of finance packages
- Computer literacy, especially Microsoft Office packages.
Interested applicants who meet the job requirements should e-mail their CVs to [email protected] attaching all your academic certificates and National ID with the Heading: âAccountant: Payments â.
APPOINTMENTS WILL BE MADE IN COMPLIANCE WITH BancABCâs RECRUITMENT POLICY.
Closing date: 08 December 2022 16:30 hrs.