Account Officer at Electronic PayPlus Limited

Job Purpose

• The Account Officer is responsible for supporting the company's financial and accounting operations by ensuring accurate recording of financial transactions, proper maintenance of accounting records, timely processing of payments and receipts, and preparation of periodic financial reports.
• The role ensures that all financial transactions are properly documented, accurately posted, reconciled, and processed in accordance with the company's financial policies, internal control procedures, and applicable accounting standards.
• The Account Officer will work closely with Procurement, Sales, Warehouse, Production, Human Resources, and other departments to ensure effective financial accountability and accurate reporting of business transactions.

Key Responsibilities
General Accounting and Bookkeeping:

• Record daily financial transactions accurately in the company's accounting or ERP system.
• Maintain proper books of accounts, ledgers, journals, and supporting financial records.
• Prepare and process journal entries, expense postings, accruals, and prepayments.
• Ensure all transactions are supported by appropriate invoices, receipts, approvals, and other relevant documentation.
• Maintain accurate and up-to-date accounting records.
• Assist in the preparation of monthly, quarterly, and annual financial reports.
• Ensure transactions are properly classified under the appropriate general ledger accounts.

Accounts Payable Management:

• Receive, verify, and process supplier invoices and payment requests.
• Ensure supplier invoices are matched with approved purchase orders, goods received notes, and relevant supporting documents.
• Monitor supplier balances and maintain accurate accounts payable records.
• Prepare payment schedules and process approved supplier payments.
• Reconcile supplier statements and investigate discrepancies.
• Ensure timely settlement of approved supplier obligations.
• Maintain proper documentation of all payment transactions.

Accounts Receivable Management:

• Prepare and process customer invoices and credit notes.
• Monitor customer accounts and outstanding receivables.
• Follow up on overdue customer payments in collaboration with the Sales and Marketing team.
• Reconcile customer accounts and resolve billing discrepancies.
• Prepare periodic accounts receivable ageing reports.
• Ensure customer receipts are accurately recorded and allocated.
• Escalate overdue and potentially irrecoverable debts to the Finance Manager.

Bank and Cash Management:

• Prepare monthly bank reconciliations and investigate outstanding items.
• Monitor daily cash transactions and ensure proper recording of receipts and payments.
• Maintain accurate petty cash records and supporting documentation.
• Reconcile cash balances and ensure compliance with approved cash management procedures.
• Support cash flow monitoring and payment planning.
• Ensure all bank transactions are properly authorised and documented.

Inventory and Manufacturing Cost Accounting Support:

• Work with the Warehouse and Inventory teams to reconcile inventory records with accounting records.
• Verify supporting documents for raw materials, packaging materials, finished goods, and production consumables.
• Assist in monitoring inventory movements, adjustments, and stock valuation.
• Support the reconciliation of goods received, materials issued to production, and finished goods transfers.
• Assist in monitoring production-related costs and expenses.
• Support periodic stock counts and investigate inventory variances.
• Ensure inventory-related financial transactions are properly recorded and supported.

Tax and Statutory Compliance:

• Assist in the preparation and processing of applicable tax-related schedules and returns.
• Ensure proper documentation of VAT, withholding tax, and other applicable statutory deductions.
• Support timely remittance of statutory deductions in line with applicable regulations.
• Maintain accurate tax records and supporting documentation.
• Assist during tax audits and regulatory reviews.
• Ensure compliance with applicable accounting and tax requirements.

Financial Reporting and Reconciliation:

• Prepare periodic financial schedules and reports as assigned.
• Reconcile general ledger accounts and investigate discrepancies.
• Assist in monthly and year-end financial closing activities.
• Prepare expense analysis and supporting schedules.
• Monitor departmental expenses against approved budgets.
• Provide accurate financial information to support management decisions.
• Ensure timely submission of assigned financial reports.

Internal Controls and Audit Support:

• Ensure compliance with the company's financial policies and internal control procedures.
• Verify that transactions have the appropriate approvals before processing.
• Maintain proper filing and retrieval of accounting documents.
• Support internal and external audit exercises.
• Respond to audit queries and provide requested financial documentation.
• Identify and report unusual transactions, discrepancies, or potential financial irregularities.
• Ensure proper segregation of duties and accountability in financial processes.