Accounting Specialist

1 week ago


Johannesburg, Gauteng, South Africa Isilumko Staffing Full time

Position Overview

The role involves the 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 record cost allocation entries
  • Generate accrual journals
  • Properly account for prepayments
  • Prepare monthly balance sheet reconciliations for oversight and approval
  • Compile reports and analyses as necessary
  • Adhere to month-end and other reporting timelines
  • Support additional month-end and reporting obligations
  • Process foreign currency invoices correctly
  • Handle any other transactions as required

2. Cash Management and Banking

  • Reconcile cashbooks for four entries
  • Develop weekly cash flow reports
  • Prepare monthly cash flow forecasts and requirements as needed
  • Compile monthly payment forecasts (creditor listings)
  • Facilitate payment authorization runs in accordance with policy
  • Identify and resolve reconciling items on cash flow
  • Supplier Payments:
    • Submit only validated and authorized invoices/costs for payment
    • Load balances for supplier payments 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)
    • Only input valid and authorized payments into the banking application
    • Accurately enter 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 deadlines on a weekly basis

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 in a timely manner for payment processing
  • Ensure invoices/credit notes are not duplicated in the accounting software
  • Prevent duplicate 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 as appropriate

5. Additional Responsibilities

  • Report any suspicious or potentially fraudulent transactions to the Financial Manager, CFO, Managing Director, or through valid reporting channels as per policy
  • Accurately fulfill all filing and document storage requirements as necessary
  • Adhere to established processes and procedures
  • Comply with finance department protocols
  • Assist the treasury department by accurately:
    • Confirming bookings on the payment box
    • Processing walk-in customer payments, including cash
    • Addressing customer finance inquiries via telephone
  • Maintain professional working 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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