Financial Accountant – Durban

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Financial Accountant – Durban


 
Responsible for the valid, accurate and timely recording, preparation, balancing and reporting of all accounting and investment transactions.
Assists with the budget preparation process and also has responsibility for ensuring the effective operation of the computer hardware and software
 
Responsibilities
Income verification
    • Ensures that accurate Remittance Advices are sent to employers on a monthly basis
    • Monitors and reconciles payments in respect of the various Settlement Agreements
    • Ensures that income received is accurately captured and allocated to the various cashbook accounts
    • Ensures that all revenue transactions are accurately and timeously processed and reconciled
    • Reconciles revenue to income and bank statements
    • Prepares monthly income report and outstanding contributions (debtor) age analysis
    • Prepares input for monthly financial schedules and forecasts, annual consolidation packs and financial statements
 
Operational expenditure payments
    • Prepares and processes duly authorized creditor’s payments and operational expenditure items
    • Verifies creditors tax invoices against valid purchase orders
    • Prepares and processes payments and returns in respect of PAYE, tax on investment income, VAT and other statutory requirements
    • Ensures that payments in respect of the various expenditure items are correctly allocated and comply with the established control procedures
    • Reconciles and balances expenditure statements
    • Prepares monthly expenditure variance analysis schedules.
    • Administers petty cash
    • Ensures safe keeping of petty cash and cheque books
 
Settlement Agreement payments
    • Verifies the details of the persons to be compensated in terms of the various Settlement Agreements
    • Arranges for payments to be made from the Trust Account to beneficiaries of the various Settlement Agreements
    • Reconciles payments made against the various Settlement Agreements and prepares a monthly report on the status of these payments
 
Payroll administration
    • Updating of the salaries system with new appointments, transfers, promotions and terminations.
    • Implementation of stop orders for bonds, insurances, garnishee payments and payments to third parties.
    • Calculating and payment of PAYE and ensuring the earnings and deduction codes are in compliance with the SARS codes for IRP 5 and income tax purposes, medical aid, bonds, insurances, trade union membership and pension funds.
    • Calculating and implementation of annual staff bonuses.
    • Accounting for the staff leave pay provision.
    • Reconciliation of the monthly earnings and deductions and payments to third parties.
    • Receipt of signed overtime sheets from Secretary and the correct and timely capture of overtime onto the system.
    • Balancing of year to date PAYE totals for IRP 5 totals on a monthly basis and annually
Payment of Delegate fees and expenses
    • Receipt of correct details of new Delegates, the recording of all changes to Delegates’ and status and responsibilities, their attendance at meetings, kilometers traveled, toll fees paid and other expenses claimed
    • Implementation of changes to Delegates’ allowances in accordance with directives from the Chairman of Council
    • Preparation of monthly payments to Delegates.
    • Consultation with Delegates in respect of any queries raised regarding allowances and recoverable expenses paid
 
Banking and banking reconciliations
    • Performs daily banking and processes banking transactions
    • Checks and reconciles bank statements
    • Processes and submits statutory returns in respect of VAT and statutory returns
 
Financial reporting
    • Ensures all transactions are correctly processed in preparation for the monthly operating statements and financial reports
    • Prepares input for monthly financial schedules and forecasts
    • Prepares input for annual consolidation packs and financial statements
    • Prepares input for the monthly operating statements and financial reports
 
General administration
    • Attends to all correspondence related to the Accounts section
    • Administers the petty cash float
    • Ensures that complete, valid and accurate records are kept in respect of all accounting transactions
    • Assist the Secretary with the compilation of the annual budget and the various returns and statistical reports, such as the Representivity Report
    • Assists staff with salary queries
    • Assists with queries raised by the Auditors
    • Assists with the resolution of computer hardware and software queries by liaises with outsourced service providers to correct the problems experienced
 
Requirements
    • 5 years of experience in an Accounting Departments (minimum requirement)
    • Diploma in Bookkeeping (minimum requirement)
    • Degree in Accounting (preferable requirement)
    • 3 to 5 years of having successfully dealt with:
    • Payroll – Excellent working knowledge of payroll systems and procedures
    • Accounting – able to prepare cost reports, cash flow & variance analyses, balance sheets and income statements.
    • Information systems – good computer skills, able to work with spreadsheets and accounting software and advice on suitable available software.
    • Administrative Skills – sound organizing and administrative ability.
    • Communication skills – is able to clearly express ideas in verbal and written form to convey a clear and convincing message, especially when dealing with staff on salary matters.
    • Labour legislation – an understanding of Bargaining Councils
    • Attention to detail
    • Highly organized
    • Deadline driven
    • Personal integrity and trustworthy