Assistant Financial Accountant

SUMMARY:
To assist the Financial Accountant and is the responsible for the properties financial health by managing the budget and forecasting, analysing financial data, preparing reports and ensuring financial stability.

POSITION INFO:

Daily Responsibilities
•Update bank movements (payments and deposits) on Intacct.
•Monitor key hotel metrics: RevPAR, ADR, and Occupancy Rate.
•Perform guest folio audits and resolve billing discrepancies.

Weekly Responsibilities
•Review and confirm weekly revenue forecast.
•Update weekly cashflow.
•Review weekly payment requests compiled by creditors clerk:
o Approve documentation ensuring VAT compliance.
o Submit approved documents to Financial Accountant.
• Ensure Intacct reflects weekly revenue movement.
• Compile and report weekly stock take in F&B summary:
oInvestigate and clear variances to budget.
•Generate weekly Accounts Receivable reports:
oIdentify long-outstanding amounts.
oImplement recovery action plans.
oProvide for bad debts if necessary.
•Reconcile PMS (Property Management System) and POS systems with financial records.
•Coordinate with F&B, Rooms Division, and Maintenance for budget alignment.
Monthly Responsibilities
•Finalize and perform financial month-end:
oCompare Apex revenue with Intacct.
oPost payroll, depreciation, provision, accrual, pre-payment, and deposit journals.
oEnsure invoices are captured in the correct period.
oCalculate and journalize Incentives.
oPost final adjustments and review journals before closure.
•Provide feedback to the Financial Accountant on review queries.
•Update management report with commentary.
•Perform and approve balance sheet reconciliations:
oEnsure all recons have supporting documents and are self-explanatory.
oClear reconciling items before next month-end.

Submit and pay payroll deductions and provident contributions before the 5th.

•Assist FM with monthly forecasting:
oValidate revenue assumptions.
o Update Gross Operating Expenses to maintain GOP%.
o Update R&M expenses considering upcoming projects.
o Review EBITDA and adjust if needed.
• Track energy-saving initiatives and green procurement efforts.

Annual Responsibilities
Budgeting
•Set up and update budget files with key assumptions.
•Submit 1st draft for review and address feedback.

Audit
•Prepare and submit required documents to external auditors.
•Ensure timely submission of sample lists and audit requirements.
•Finalize AFS submissions.
Statutory Submissions (South Africa)
•EMP201 (Monthly PAYE/UIF/SDL): Due by the 7th of each month – SARS.
•EMP501 (Employer Reconciliation):
oInterim: Due 31 October (for March–August).
oAnnual: Due 31 May (for full tax year) – SARS.
•IRP5/IT3(a) Certificates: Issued with EMP501 submissions – SARS.
•VAT201 (if VAT registered): Monthly or bi-monthly – SARS.
•ITR14 (Company Income Tax Return): Due 12 months after financial year-end – SARS.
•Annual Financial Statements (AFS): Due within 6 months of year-end – CIPC & SARS.
•WCA Return of Earnings (COIDA): Due by 31 March – Dept. of Employment and Labour.
•Liquor License Renewal: Annually, per provincial liquor board schedule.
•BBBEE Reporting: Annually, based on financial year-end – SANAS/CIPC.
Risk and Compliance
•Distribute updated policies and procedures to HODs and staff.
•Enforce procurement policies and procedures.
•Update annual insurance submissions.
•Support BBBEE submissions with procurement, staffing, skills, enterprise, and social development data.
•Contribute to sustainability reporting.