City of Johannesburg, Gauteng, South Africa
ACCOUNTS PAYABLES PROCESS • Receive invoice Verify the receipt of vendor invoices with the purchase order or contract agreement • Approval obtains necessary approvals for payment (from the store regional managers, if applicable • Payment process payments (via check, bank transfer or credit card) and update the system • Vendor Management ensures timely payments to vendors, services providers, and suppliers. • Track all outstanding liabilities and ensure they are paid within the agreed terms • Invoice processing verifies accuracy of vendor invoices, including checking for discrepancies in pricing, quantity and other contract terms • Payment scheduling priorities and schedule payment based on due dates consideration available cash flow • Expense Allocations allocate payment to correct expense categories in the accounting system Account Receivable Process • Customer receiver ensures that customer payment (if applicable e.g, if the franchise offers memberships or packages) is recorded correctly and promptly • Petty cash manages petty cash for corporate stores, ensuring proper documentation and approval for all petty cash disbursement • Cash flow monitoring Regular monitor and forecast cash flow to ensure the business has adequate liquidity for daily operations, including vendor payment and payroll Inventory and Cost of Goods Sold (COGS) • Inventory Tracking Track inventory levels for salon products (e.g, Hair care products tools) and consumables used in services (e.g. shaving products, Towels) • Inventory Reconciliation regularly reconciles physical inventory with system records to ensure accuracy. Perform periodic physical counts and identify discrepancies • Records payments Ensure all payments are recorded in the correct account and in the General ledger.
Account payables • Reconcile invoices, requisitions, purchase orders etc. • Ensure invoices agree to the contracts / Quotations / Orders etc. • Ensure the correct GL account & vendor account is utilized when processing invoices in account payables module. • Ensure all invoices are VAT compliant & the correct VAT treatment is applied to invoices. • Maintain accurate financial records and ensure compliance with accounting principles. • Manage day-to-day accounting tasks, including account payable, and account receivable. • Capture creditors’ invoices on a timeous basis. • Ensure that all payments approvals are in place • Prepare creditors accounts reconciliation & payment runs per checklist & monthly deadlines. • Loading payment into the online banking system and ensuring banking details match • To reconcile intercompany balances • Prepare creditors and general ledger (Clearing) reconciliations. • Escalate unresolved queries as per established processes. • Maintain Vendor account & account payable age analysis. • Timeous follow up & resolution of all account payable queries • Forward remittance advice to suppliers after completion of payment run. • Maintain strong working relationships with suppliers and ensure any account related queries are promptly resolved. • Investigate and resolve discrepancies and supplier’s queries. Account Receivable • Raise invoices, liaise with customers on payments & ensure the companies overdue s is kept to a minimum. • Perform monthly bad debt provision calculation. • Open customer Account on system (Post vetting& Approval) • Ensure Customer master data on Sage Evaluation is updated. • Obtain debtors reconciliation and resolve all queries. Bank Reconciliations (Cashbooks) • Processing transactions to cashbooks daily • Maintain & reconcile cashbooks to bank statement daily. • Unallocated cash is investigated and dealt with in a timely manner. • Post interest in the bank account to respective cost centers.
* Reconciliation of student accounts – Comparing Revenue and billing to fees / Student system * Preparation of Billing import for adjustment to revenue and cancellations * Comprehensive knowledge of the principle of training * Analysis accounts to check for mistake to be corrected. * Oversee monthly billing of external debtors.
* To process LOB automated Journals of policy accounting transaction to the General Ledger by T+1 of accounting reporting. * To process cashbook journals to the General Ledger * Checking and confirm correct GL accounts mapping on FTI file for automated cashbooks on weekly basis * Preparation and processing of manual monthly journals to General Ledger by T+3 of accounting reporting including Fees, OCR, Premium Advance Journals * Presenting financials to reporting team * Review of the general ledger and provide review notes * Prepare Bank accounts recons on weekly basis and monthly basis * Prepare LOB clearing accounts recons * Prepare balance sheet recons Premium debtors, premium advance, internal payment, Suspense account, outstanding claims recon. * Updating cessions and posting Reserves & Interest Journal * Variance investigation LOB vs. policy report vs. Ledger vs. Bank statement. Logging calls with IT for BAU queries/variances etc. * Following up on calls and ensuring that they are resolved timeously * Downloading and saving bank statement (both Excel and PDF) * Reconcile CBR report to LOB policy level report. * Testing for fixes applied by IT on LOB transactions. * Processing payment, Refunds, Invoices, capturing Purchase Orders * Attending to queries and Adhoc request * Present relevant accounts to reporting team on working day 5
* Ensure timeous payment of an invoice. * Identify and resolve invoicing accounting and other financial issues. * Assist in managing account payables and receivable activities. * Update spreadsheets of daily transactions * Raising Requisition on Searchlight System * Logging Calls on Jira System follow up on accounts payables. * Creating a Requisition number with the procurement Team for invoice * Doing Recoveries on the monthly basics * Vendor Liaison about department requirements * Monthly accruals with management (CIO) * Follow up on overdue accounts. * Handling account queries timeously. * Analyzing and reporting on debtors’ age analysis. * Responsible for allocating payments to correct accounts and processing credit notes. * Ability to receive, stock, and/or deliver goods (Desktop, mouse, screen & printers) * Preparing and processing of accruals