Accounting Specialist

1 week ago


Johannesburg, Gauteng, South Africa Isilumko Staffing Full time

Position Overview

The role involves precise handling of incoming invoices and ensuring compliance with established financial policies and procedures.

Key Responsibilities

1. General Accounting Duties

  • Execute monthly and occasional journal entries
  • Accurately post cost allocation entries
  • Generate accrual journals
  • Correctly account for prepayments
  • Prepare monthly balance sheet reconciliations for review and approval
  • Compile reports and analyses as necessary
  • Adhere to month-end and other reporting deadlines
  • Assist with additional month-end and reporting tasks
  • Handle invoices in foreign currencies appropriately
  • Process other transactions as required

2. Cash Management and Banking

  • Reconcile cashbooks for four entries
  • Prepare weekly cash flow reports
  • Develop monthly cash flow forecasts and requirements as needed
  • Prepare monthly payment forecasts (creditor listings)
  • Conduct payment authorization runs in accordance with policy
  • Identify and resolve reconciling items on cash flow
  • Supplier Payments:
    • Submit only valid and authorized invoices/costs for payment
    • Load balances for payment to suppliers post-approval of creditor reconciliations
    • Ensure timely payments to suppliers per creditor account terms
    • Process only invoices that have been validated for payment (unless an advance payment is authorized)
    • Load only valid and authorized payments in the banking application
    • Accurately input supplier banking details, payment amounts, and references in the banking system as required

3. Petty Cash Management

  • Disburse petty cash for approved requisitions/requests
  • Reconcile petty cash weekly using the approved template/format
  • Process petty cash transactions accurately and within weekly deadlines

4. Intercompany Transactions

  • Ensure all intercompany balances are reconciled with counterparties at month-end
  • Obtain intercompany confirmations
  • Complete any necessary re-invoicing to other intercompany entities (including raising POs if needed)
  • Request account statements from active suppliers at least monthly
  • Conduct monthly creditor reconciliations
  • Request outstanding invoices from intercompany vendors timely for payment processing
  • Ensure invoices/credit notes are not duplicated in the accounting software
  • Prevent double payments of invoices
  • Ensure compliance of all captured invoices with legal requirements
  • Match supporting documents to expense claims within 24 hours of receipt
  • Revalue foreign currency intercompany loans accurately

5. Additional Responsibilities

  • Report any suspicious or potentially fraudulent transactions to the appropriate financial authorities
  • Complete all filing and document storage requirements as per procedures
  • Adhere to finance department processes and procedures
  • Assist the treasury department by accurately:
    • Confirming bookings on the payment platform
    • Processing walk-in customer payments, including cash
    • Addressing customer finance inquiries via telephone
  • Maintain professional standards, ensuring confidentiality and a strong work ethic

Job Requirements

  • Grade 12
  • Minimum of 5 years' experience in bookkeeping
  • Accounting or bookkeeping qualification
  • Basic accounting knowledge
  • Proficient in computer applications


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