Job Description

JOB PURPOSE:
Reporting to the Head of Finance, the Financial Accountant is responsible for performing key accounting functions including maintaining strong financial controls, executing the month-end close process, ensuring the accuracy and completeness of the general ledger through to trial balance, and supporting financial reporting and compliance activities.
ROLES AND RESPONSIBILITIES
Creditors

• Process creditor invoices on Pastel i.e. ensure that the invoice is valid, VAT treatment is correct and allocate it to the correct GL account

• Ensure prompt payment of creditors within agreed terms

• Follow up on reconciling items between the creditor general ledger account and the creditor statement.

Debtors

• Prepare and distribute investee companies management fee invoices

• Implement annual increases and ensure there is an audit trail

• Follow up any outstanding payments from debtors

• Ensure there are no long outstanding items

Payments

• Load new suppliers on the internal banking systems

• Load invoices i.e. bi-weekly or ad-hoc depending on urgency

• Prepare/review payment requisitions i.e. account allocation, valid tax invoice, amount requested is correct and reconciled promptly where necessary.

• Accurate allocation of expenses to relevant GL accounts.

• Ensure correct Vat treatment of each invoice.

• Ensure only valid tax invoices are processed for payments.

• Ensure control procedures are followed with regards to loading of new beneficiary bank details.

• Ensure payments are processed on time as per credit terms

• Payments which are released are accurate and match bank details as per the invoices.

• Ensure payment policy is followed

• Post and/or authorise transfers for Head of Finance to review and release

• Liaison with Bankers as and as necessary

Processing & management accounts

• Month end processing in Pastel (debtor invoices, supplier invoices, cash book, petty cash, credit card and roll forward at year end)

• Producing monthly bank, debtors and creditors reconciliations

• Monthly accruals for prepayments, depreciation, income received in advance, interest on loans and dividends on preference shares, reconciling intercompany transactions & balances

• Process complex deal related journals

• Liaise with relevant internal stakeholders to manage spend (over or under)

• Ensure accounting treatment of various transactions is in accordance with IFRS

• Maintain accurate drawdown and investee reconciliations

• Prepare individual monthly management accounts (Income statement, Balance Sheet, Cash Flow statement) from Pastel into excel

• Preparation of forecasts & consolidation into the management accounts

• Preparation of monthly management accounts pack

• Ability to assist with various inputs required for Head of Finance reports

Tax

• Monthly VAT reconciliations

• Monthly VAT payments

• Liaison with SARS as and when necessary i.e. resolving queries, uploading supporting documentation when required.

• Assist with provisional tax calculations & loading provisional taxes bi-annually

• Assist with providing information for annual tax returns

• Liaise with relevant consultants in relation to SARS matters.

Payroll

• Liaison between the Company and the company medical aid service provider

• Ensure new employees are insured in line with the rules of the company

• Administer any changes employees require

• Communicate any changes to medical aid plans by medical aid scheme

FSCA Compliance

• Liaison between the compliance service provider and the Company

• Assist with policy updates and engage with Key individuals to get sign off.

• Facilitate submissions to the FSCA

• Keep exposed to the FSCA regulatory requirements and arrange training when required to ensure that Key individuals meet their CPD requirements

• Collate information from KIs for the FSCA as and when required

• Prepare submissions for Quarterly compliance review meetings

External Audit

• Ensure all deadlines are met.

• Field off requests from auditors independently and promptly.

• Ensuring all year end journals are processed expeditiously and accurately.

• Source information requested by auditors to support and expedite the audit process e.g. Policies, Financial statements etc.

• Liaison with auditors for query resolutions

• Assist with preparation of Annual Financial Statement notes

Administration

• Proper, well-organized, and user-friendly filling system.

• Periodic KYC processes administration with the banks (shareholder/director updates)

• Support data collection processes and ensure financial data quality

• Save correct monthly Trial Balances for each entity on server (Previous year trial balance, Month trial balance, Year to date GL, attach bank statement relevant to the month)

Stakeholder management

• Maintaining effective communication and positive working relationships with the deal team and external counterparties.

• Manage stakeholder mapping and prepare communications to stakeholders and respond to stakeholder enquiries.

REQUIREMENTS

• B Com degree (Accounting)

• External audit articles

• 2 years finance experience in a similar role

• Tax knowledge beneficial

BEHAVIOURAL COMPETENCIES

• Ability to work in a small environment

• Adapt easily to changes to responsibilities

• Ability to work independently, Self-starter

• Good interpersonal skills

• Willingness to get your hands dirty into the detail

• Flexible re filling in whenever there is a gap within the support team, strong team player

• Initiative/Perseverance

• Honesty and strong values

• Ability to prioritise multiple tasks and meet deadlines under pressure.

• Analytical

• Self-growth, keep learning

SYSTEMS COMPETENCE

• Intermediate excel skills - ability to maintain integrity of spreadsheets

• Adequate working knowledge of Microsoft Office Suite (Word, PowerPoint, Outlook)

• Prior experience with Sage Pastel/Sage One accounting

• Working Knowledge of the IFRS and IAS reporting policies