SUMMARY:
To be responsible for performing the financial accounting and accounts payable function ensuring compliance with the GRAP standards, PFMA and Treasury Regulations, Preparation of consolidated and individual financial statements for the organisation and optimisation and management of the Accounts payable department.
POSITION INFO:
Key Performance Areas:
Optimisation of the Accounts Payable Department:
Co-ordinate and manage the Accounts Payable Department.
Review and benchmark the accounts payable policies with alignment to legislative changes, business processes and good practice.
Prepare reports for submission to all relevant stakeholders (e.g. monthly analysis of outstanding invoices sent to all Executives, Audit evidence on queried invoices, etc.
Establish monitoring tools to ensure all payments are made within agreed timeframes.
Oversee maintenance of good relationships with suppliers by ensuring timeous payment and response to queries.
Conduct detailed reviews of Municipal creditor’s reconciliations to ensure that Municipal creditors’ account queries are resolved timeously.
Conduct detailed reviews of Strategic creditor’s reconciliations to ensure accuracy and timeous resolution of queries
Maintain continuous co-ordination with user department, LMJV, Contracts, and General Ledger to ensure smooth payment processes.
Oversee bi-monthly (twice a month) follow up with stakeholder(s) on the invoice status to eliminate any delays affecting the payment of suppliers.
Review the accuracy of all invoices captured and posted (Evolution and Work Flow). This includes cost centre allocation, account classification, etc.
Monthly review of the creditors age analysis and clearing of all discrepancies identified timeously.
Review all relevant payment vouchers, testing for accuracy, validity and completeness.
Analyse, refine and develop systems of internal controls to reduce risk of financial loss. Monitor and evaluate effectiveness.
Project-manage the implementation of accounts payable related projects.
Prepare monthly general ledger reconciliations.
Plan and co-ordinate activities within the accounts payable department to achieve internal and external audit readiness.
Provide ad hoc support to other managers within the financial accounting team.
Prepare general ledger and accrual journals and review accounts payable and reallocation journals prepared by the senior accounts payable officer.
Monitor the preparation of quarterly and annual BBBEE spend analysis for the company
Maintain adherence to accounting procedures.
Review the supplier details uploaded in the creditor’s database on the accounting system.
Approve all creditors Masterfile amendments.
Liaise with internal and external auditors to address all queries.
Financial Statement Preparation and review as requested:
Apply professional judgement and technical knowledge to determine applicable GRAP (Generally Recognised Accounting Practice) accounting policies relevant to the organisation.
Perform month end financial close, reconciliations and related analysis.
Accrue outstanding expenses on a monthly basis.
Recommend the accounting treatment of complex transactions by interpreting the GRAP Standards.
Coordinate the interim and year-end audit plan.
Prepare year-end journal entries including consolidation entries
Assess the level of GRAP compliance for financial reporting purposes.
Engage with users across the organisation to explain the accounting treatment required and determine how the practical/legislative requirements can be accommodated.
Analyse and interrogate the year-end schedules for financial statement preparation.
Prepare the individual and consolidated financial statements for the organisation aligned to the GRAP reporting standards.
Submit financial statements to the relevant committees and Auditor General within the required timeframes.
Resolve queries raised by internal and external auditors.
Review all provision schedules submitted by various users and ensure accuracy and reasonability of the information provided.
Review the tax computation and relevant disclosure for joint venture company in the interim and annual financial statements.
Review all provisional tax returns (and supporting calculations) prepared by the Joint Venture Finance manager prior to submission to SARS.
Effective Work-in- progress (capital assets) Management:
Conduct a detailed monthly review of the financial statements Work In Progress (WIP) disclosure note requirement.
Develop a GRAP compliant monthly and annual schedule for the reconciliation of work-in-progress for the economic entity and controlling entity.
Review the monthly and annual WIP schedule and reconciliation
Attend monthly WIP meetings with the user departments and resolve all issues.
Monitor progress of halted or delayed projects and obtain timeous status update from the Executive for disclosure purposes
People management:
Effectively manage activities of relevant of the Senior Accounts Payable Officer and the Accounts Payable Officers to align to policies, procedures and monthly targets.
Manage and motivate staff to achieve maximum performance through relevant training, mentoring and skills development.
Review all Job Descriptions, Performance Agreements and Performance Assessments for staff to ensure that they are compiled, completed and finalised timeously.
Plan for and manage all recruitment needs for the accounts payable department.
Contribute to improving staff morale and increasing productivity.
Provide leadership that demonstrates the values of the organisation.
Qualifications, Knowledge, Skills and Behavioural Competencies Required:
- A Post-Graduate degree in Accounting (CTA)/Honours in Accounting
- Completion of Articles with a registered Accounting and Auditing firm
- Minimum of 5-8 years’ post article experience
- 5 years’ experience in managing staff/managerial role
- Experience in preparing Annual Financial Statements using GRAP or IFRS
- Experience in working with complex accounting transactions across different industries
- Code EB Driver’s License
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