Branch Accountant

Roles and responsibilities

Financial Record Keeping:

• Maintain Financial Records: Accurately record all financial transactions related to branch operations, including sales, purchases, expenses, and receipts.
• General Ledger Management: Ensure all branch accounting entries are accurately posted to the general ledger (GL) in accordance with company policies and accounting standards.
• Transaction Documentation: Ensure proper documentation and supporting evidence for all transactions, including receipts, invoices, contracts, and payment vouchers.

2. Cash and Bank Management:

• Cash Flow Monitoring: Manage daily cash balances, ensuring sufficient funds are available for branch operations, while maintaining accurate records of cash receipts and disbursements.
• Bank Reconciliation: Reconcile branch bank accounts regularly to ensure all deposits, withdrawals, and charges are recorded accurately.
• Petty Cash Management: Oversee the petty cash fund, ensuring that cash is appropriately allocated and tracked for small expenses, and maintain records of all transactions.

3. Accounts Payable and Receivable:

• Accounts Payable (AP): Process supplier invoices, verify their accuracy, ensure timely payments, and maintain good relationships with vendors. Ensure that all payment terms are adhered to.
• Accounts Receivable (AR): Track outstanding customer invoices, issue receipts for payments, follow up on overdue accounts, and maintain accurate records of all receivables.
• Aging Reports: Prepare aging reports for both accounts payable and receivable to track overdue amounts and take appropriate action to address any payment delays.

4. Financial Reporting and Analysis:

• Prepare Financial Reports: Generate monthly, quarterly, and annual financial reports, including balance sheets, profit and loss statements (P&L), and cash flow statements for the branch.
• Variance Analysis: Analyze financial performance against budgeted figures and historical data, identifying discrepancies, inefficiencies, or areas for improvement.
• Management Reporting: Provide detailed financial insights and recommendations to the branch manager and senior management to support decision-making and branch performance improvement.

5. Budgeting and Forecasting:

• Budget Preparation: Assist in the preparation of the branch’s budget by forecasting income, expenses, and capital expenditures, ensuring they align with the overall business objectives.
• Monitor Budget Performance: Track actual financial performance against budgeted figures and highlight any significant variances for corrective action.

Desired candidate profile

. Accounting Expertise:

• Solid understanding of accounting principles, financial reporting, and local tax regulations.
• Familiarity with generally accepted accounting principles (GAAP) or International Financial Reporting Standards (IFRS).

2. Financial Software Proficiency:

• Proficient in accounting software (e.g., SAP, Tally, QuickBooks, or ERP systems).
• Strong skills in Microsoft Excel for data analysis, budgeting, and financial reporting.

3. Attention to Detail:

• Ability to maintain accurate financial records and spot discrepancies or errors in financial data.

4. Analytical Skills:

• Strong analytical skills for preparing reports, conducting variance analysis, and identifying financial trends and insights.

5. Time Management and Organizational Skills:

• Ability to prioritize tasks, manage deadlines, and handle multiple accounting processes simultaneously.

6. Communication Skills:

• Strong communication skills to interact with branch management, staff, external auditors, vendors, and customers.

7. Compliance and Regulatory Knowledge:

• Knowledge of tax laws, financial regulations, and industry-specific compliance requirements.

8. Confidentiality:

• Ability to handle sensitive financial information with discretion and maintain confidentiality.