12 MONTHS TEMP ASSIGNMENT
Reporting to the Assistant Accountant
Main Purpose of the Job:
To capture and process financial information pertaining to the accounts payable and creditors accrual modules in order to ensure accurate reflection of transactions processed and supplier reconciliations
Job Objectives:
- To match receipts from stores with supplier invoices, in order to correctly reflect amounts owed to creditors.
- To correctly capture payment requisitions, in order to correctly reflect amounts owed to creditors.
- To reconcile individual creditors accounts to supplier statements, in order to pay the creditor.
- To reconcile the accounts payable module to the General Ledger control account, to ensure correct reflection in the financial statements.
- To identify, follow up and resolve queries relating to supplier invoices regularly, to maximize discount received and maintain good relationship with the suppliers.
- To follow up items in the creditor’s age analysis that are in excess of 30 days, in order to make timeous payments.
- To issue invoices to debtors, to ensure timeous recovery of outstanding debts.
- To process all journal transactions, to ensure correct reflection in the general ledger.
- To comply with applicable legislation, policies, standards and laid down procedures, including control procedures aimed at mitigating risks.
- All work and behaviour is aligned to the company's values
Important Contacts:
Internal:
Company Departments, Executives and Line Managers, Internal Audit, Staff members
External:
SA Reserve Bank, External Auditors, Valuation Professionals, Creditors
Key Result Areas:
- Creditors Control
- Creditors Accruals
- Age Analysis
- Risk
Key Focus Areas:
Creditors Control:
- Reconciles individual creditors accounts to supplier statements and the accounts payable module to the GL control account.
- Ensures that only invoices with VAT numbers are processed.
- Reconciles all supplier accounts to statements from suppliers.
- Obtains all individual supplier statements on a monthly basis
- Checks invoice numbers and amounts as per supplier statements
- Identifies, follows up and resolves queries relating to supplier invoices regularly ie. Amounts not being paid, differences in terms and amounts, discounts, credit notes.
- Reconciles all invoices relating to the purchase of machines (deposit of balance owing, parts and exchange rate differences)
- Ensures creditors reconciliations detail all reasons why invoices have not been paid as well as actions to be taken to resolve.
- Deals with enquiries from suppliers.
- Ensures the age analysis agrees with GL.
- Notifies Financial Accountant of suppliers who have not been paid within agreed payment terms.
- Maximises discount receivable
Creditors Accruals:
- Clears all long outstanding items on the unmatched (creditors accruals) grv report and to reconcile the unmatched (creditors accruals) grv report to the GL control account.
- Follows up items in the unmatched (creditors’ accruals) grv that are in excess of 30 days.
- Contacts suppliers when items are receipted without any invoice.
- Matches supplier invoices to an order and receipt of goods.
- Captures all invoices.
- Identifies and follows up on relevant problems in the matching process
- Refers problem situations where no matching can take place back to original department and follows up to ensure that problem is resolved.
- Ensures that all orders and receipting are matched.
- Ensures that there are no differences between the invoice and the receipting of goods received
Age Analysis:
- Follows up items in the matched creditor’s trade report that are in excess of 30 days.
- Identifies an follows up on relevant problems in the creditors trade report.
- Refers problem situations to the relevant department or creditor and follows up to ensure that problem is resolved
Risk:
Comply with applicable legislation, company policies, standards and laid down procedures, including control procedures aimed at mitigating risks