Financial Manager

MAIN RESPONSIBILITIES – FINANCIAL MANAGER

• Bank reconciliation (Main, Money Market, CFC, Credit Cards, Salary, Other accounts)
• Xero Accounting update uploaded by Bookkeeper
• VAT 201 Calculations
• Preparing branch management accounts
• Month End - confirming daily banking (Cash Control reconciliation)
• Final step to balance freight forwarder + actual stock received + scanned
• Review Rental Inv for RZT Zelpy 4512 (St Andrews) and Abelia Road tenant prepared by Bookkeeper
• Additional ad hoc financial functions as assigned from time to time.
• SARS monthly related declarations (Vat Audits – Prepare paperwork for auditors to review & submit)
• Manage Daily Cash Flow
• Loading of EFT, transfers, FOREX & fx transfers, global receipts, global transfers (deals), payroll payments for authorization
• Balance Sheet Report
• Forex – Manage deals triggered, supplier rate sheet, manage supplier & freight sheet, forex spent report

General administration

• Compile, analyze, prepare and review internal and external management accounts on a monthly and annual basis
• Conduct financial analysis on management accounts providing interpretation and commentary and ensuring data integrity
• Manage and facilitate the annual budget process in line with agreed deadlines
• Manage internal and external audits
• Prepare and present annual audit packs according to deadline requirements
• Ensure clean audit reports for the companies
• General ledger integrity – balance sheet reconciliation
• Ensure compliance of all finance related processes
• Regulatory compliance and assessment of regulatory change
• Implementation of systems and controls
• Provide an efficient credit control system

• Export and import bank statements in XERO
• Review Petty Cash updated by Finance clerk
• Management of creditors
• Maintenance of the bank clearing account
• Supervising of debtors
• Importing of salaries journals
• Balance sheet reconciliations
• Save all proof of payments on a daily basis and bank statements on a monthly basis (send to Bookkeeper to print)

Overlook the following Bookkeeper functions: Data capturing, book keeping and general accounts maintenance

• Once a week ALL bank accounts must be imported onto the accounting software XERO.
• Once a week ALL bank accounts must be reconciled and cash book transactions must be correctly and accurately allocated to their respective accounts within XERO.
• Review ALL third-party suppliers/creditors invoices must be captured and reconciled running the month end procedures.
• Review ALL third-party customers/debtors’ invoices must be captured and reconciled running the month end procedures.
• ALL content of the containers, year to date, must be captured and reconciled during the month end procedures. This includes reviewing the Freight Forwarder captured by the Bookkeeper. Foreign Supplier invoices captured by Finance Manager and correct exchange rate must be used to capture the imports.
• ALL intercompany transactions must be correctly and accurately accounted for. This includes sales to and purchases from each other. These customer and supplier accounts must at ALL times reconcile. The loans between intercompany must be clearly separated in respective loan accounts which must balance at all times.
• VAT types and rates must be accounted for correctly and accurately on XERO.
• Once a month capture the payroll journals and reconciled the salary control accounts. Medical Aid and Life Insurance premiums must be accounted for through loan account in order to reconcile the salary control accounts.
• Once a month, turnovers must be journalised to each of the store cash control accounts.
• Deposits in the form of cash or cards must be verified in the bank daily.
• Financial Clerk is responsible for the gathering of info and data capturing of the intercompany invoices as well as the wholesaling. You shall ensure that her work is captured correctly onto XERO, the reconciliation of those accounts is your responsibility as she doesn’t have access or the rights to bank transactions. This is your only supervisory role.
• Outstanding suppliers and customers accounts must be queried and payment or recoverability of the balances must be followed up with the responsible departments. This affects cash flow decision making by management.
• Additional ad-hoc financial functions that is assigned to you from time to time, all within the scope of your position.
• Once a month, Bookkeeper to print all bank statements, Finance Manager compile bank reconciliation report from Xero, Finance Manager to sign all documents and Bookkeeper to file in correct files
• Once a month, reconcile, balance and clear all control accounts on the trial balance (forex control account, cash control accounts for the stores, salary control accounts)
• Reconcile and pay discovery refund to members personal accounts
• Weekly debtors report to be given to director and Financial Clerk
• Once a month, prepare and review reports with Bookkeeper (age receivables, age payables, trial balance)
• Update Sasfin (Sunlyn) report sheet
• Manage and control debit orders
• Once a year, Turnover Certificates should be requested for ELB and send to the landlords
• Group bank balances to be send to director on the 5^th of each month
• Send monthly figures to Stats SA
• Send turnover figures to landlords every month
• Bookkeeper reconcile receipts vs Sales – Finance Manager to review and approve
• Nick sales per store schedule update by the 10^th of each month
• Once a month, ALL Manual Journals to be captured on Xero Accounting (Stock, Turnover Stores & Online Sales, Control Accounts, Discovery Medical Aid, Discovery Funeral Plan, Sukuma, Fnb Loans, Wesbank, Fx Rounding, Vat Control)
• Review General Expenses Report updated by Bookkeeper Director to sign off before payments are loaded
• Review PAYE received by Elb Group pay by the 7^th of each month
• Follow up on Lesley (Abelia) rental payments
• Once a month, update salary management report
• Review ALL Credit Cards processed by the Finance Clerk
• Update intercompany loans sheet
• Review and reconcile group account receipts – updated by Bookkeeper
• Review and maintain all age receivables and payables communicate with Bookkeeper to collect all outstanding invoices
• Review ALL expenses and sales captured on Xero Accounting by the Bookkeeper and Finance Clerk
• Prepare Profit and Loss Report for International on the 10^th of each month
• Maintain and update new vat claims (processed in a older period)
• Ensure Finance Clerk & Bookkeeper have uploaded all documentation on Xero Accounting
• Review IBT Analysis updated by Bookkeeper
• Review all Ekurhuleni charges before submitting for payment
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Reporting

• Month end shall be finalised on XERO by the second Friday of each month.
• Management accounts in excel format shall be produced on the Monday morning following the second Friday as mentioned above.
• The quality and accuracy of the work above shall be reviewed on a monthly basis by management.
• VAT reports and calculations shall be provided to management by the 25^th day of each calendar month.
• VAT shall be declared correctly onto SARS e-filing by the 27^th day of each month, this can only be done once management signs off the VAT reports and calculations provided above.
• All control accounts on XERO shall be reconciled and allocated this includes credit cards, salaries, cash and suspense.
• You shall assist the auditors in their annual audit procedures.

Staff management

• Review work of all direct reports to ensure all work is up to date and properly completed
• Exercise appropriate planning to ensure that staff deadlines for deliverables are met
• Conduct regular team meetings

High Quality Service Delivery

• Review of and account for financial processes used on a daily basis
• Review management accounts and general ledgers monthly before distribution to Management
• Managing and maintaining of balance sheet reconciliations
• Supervising of national debtors book
• Check correspondence between general ledger and expense reports

Reports

• Ad-hoc reports as requested

Audits

• Assist relevant parties to ensure a smooth and on-time audit