Account Officer at Felton Energy Services Ltd (FESL)

Job Scope:

• The Accounts Officer at Felton Energy Services Limited plays a crucial role in managing the company’s financial records, ensuring accuracy and compliance with regulations.
• This role involves handling financial transactions, maintaining ledgers, supporting debt recovery efforts, and managing loan-related activities.

Responsibilities:

Financial Transactions Management:

• Record and process daily financial transactions, including payments, receipts, and invoices.
• Ensure that all financial transactions are accurately documented and recorded in the company’s accounting system.

Ledger Maintenance:

• Maintain and update the general ledger, ensuring that all entries are accurate and up-to-date.
• Reconcile account balances and bank statements, verifying the accuracy of financial data.

Accounts Payable and Receivable:

• Manage accounts payable by processing vendor invoices, verifying expenses, and preparing payment runs.
• Handle accounts receivable by issuing invoices, tracking payments, and following up on outstanding receivables.

Debt Recovery:

• Monitor overdue accounts and implement strategies for effective debt recovery.
• Liaise with clients to resolve payment issues and negotiate repayment plans.
• Maintain records of all debt recovery activities and report on the status of delinquent accounts.

Loan Management:

• Oversee the company’s loan portfolio, ensuring timely repayment of loans and compliance with loan agreements.
• Prepare loan schedules and track interest payments and principal reductions.
• Coordinate with financial institutions for loan disbursements, renewals, and settlements.

Financial Reporting:

• Assist in preparing monthly, quarterly, and annual financial reports for management review.
• Support the preparation of financial statements and reports required for external audits and regulatory filings.

Budget Monitoring:

• Assist in monitoring budgets and comparing actual results with the budgeted figures.
• Provide regular updates to management on budget variances and financial performance.

Tax and Compliance:

• Ensure compliance with all tax regulations by preparing and filing accurate tax returns on time.
• Stay updated on changes in tax laws and regulations and ensure the company’s adherence to them.

Payroll Support:

• Assist in processing payroll, ensuring that all employees are paid accurately and on time.
• Handle payroll-related queries and ensure compliance with payroll regulations.

Internal Controls:

• Contribute to the development and implementation of internal controls to safeguard the company’s assets.
• Assist in conducting internal audits to ensure financial accuracy and compliance with company policies.

Financial Analysis:

• Perform financial analysis to identify trends, variances, and areas for cost reduction or improvement.
• Provide insights and recommendations to management based on financial data analysis.

Documentation and Record-Keeping:

• Maintain organized financial records and documentation for easy retrieval and reference.
• Ensure that all financial records are stored securely and comply with data protection regulations.

Support to Other Departments:

• Collaborate with other departments to provide financial information and support for decision-making processes.
• Assist in preparing financial documents required for business development and project executions.

Desired Skills:

• Knowledge of accounting principles and practices.
• Proficiency in accounting software (e.g., QuickBooks, Sage) and Microsoft Office, particularly Excel.
• Excellent analytical and problem-solving skills.
• Attention to detail and a high level of accuracy in financial record-keeping.
• Communication and interpersonal skills, with the ability to work effectively with different departments.
• Ability to manage multiple tasks and meet deadlines in a fast-paced environment.
• Knowledge of tax regulations and compliance requirements.
• Experience in debt recovery and loan management is highly desirable.

Required Experience/ Qualifications:

• Minimum of 1 to 3 years of experience in accounting or finance roles, preferably within the oil & gas, maintenance, or procurement sectors.
• Experience in debt recovery and loan management is an advantage.
• Bachelor’s degree in Accounting, Finance, or a related field.
• Professional certifications such as ICAN or ACCA are an advantage.