Financial Manager

Address

Johannesburg
South Africa

Updated

20 March 2019

Role and Responsibilities

The Financial Accountant’s role is to manage and report on the full finance function for the Opti-Baby Group. As a member of Exco you will be required to present monthly management accounts, take responsibility for the annual budgeting process and highlight ways to improve efficiencies in the business. You will be responsible for the overall management of the department. Upskilling may be required in certain areas to get the required outputs.

Reports to: General Manager of Opti-Baby

Works with: Finance team and all other departments

 

Key Performance Areas and Responsibilities

Routine recurring outputs:

Daily

  • Oversee the processing of all transactions through all company bank accounts, including e-wallets, in Edupac* and SAGE One Accounting daily (*Edupac is a schools accounting package)
  • Oversee the processing of supplier invoices in Edupac daily

Weekly

  • Reconcile all bank accounts, including e-wallets, between the GL and the bank statements weekly
  • Oversee the preparation of the weekly consolidated payment request and review same, together with supporting documents, for accuracy and completeness before distributing for:

– Review and approval by executives and

– Payment by approved banking users

  • Oversee and review loading of approved weekly payments on the FNB internet banking platform
  • Update cash flow and prepare quarterly cash flow forecasts weekly by midday every Monday

Monthly

  • Prepare and process franchisee and other non-student related fee/ad hoc invoices monthly
  • Reconcile franchisee and other non-student related debtor ledgers to the control
  • accounts in the Edupac GL monthly
  • Review all student related debtor ledgers monthly
  • Reconcile supplier accounts in the supplier ledgers to supplier statements monthly
  • Prepare and process the following recurring journals in Edupac and SAGE One Accounting as necessary and appropriate:

– Salaries – monthly

– Accruals – monthly

– Depreciation – annually

– Lease smoothing – annually

– Interest on loans – monthly

– Write off of intercompany balances – annually

  • Reconcile other balance sheet accounts, not specifically mentioned above, to external statements/supporting documentation, monthly
  • Review and load debit order collections on the FNB internet banking platform
  • Review the monthly payroll and distribute to GM and OM for review
  • Each month update the:

– Fixed asset registers

– Property registers

– Salary reconciliation

– Agree the following balances on all group inter-company accounts monthly and get same reviewed and signed off by the Finance Manager

– Loans

– Current debtors

– Current creditors

  • Review and compare all utility account readings on all properties, with the relevant invoices received to establish whether any material accruals/provisions need to be raised for;

– Owned (municipalities) and

– Leased (landlords) properties

  • Prepare monthly slides for MANCO and EXCO meetings
  • Attend and present the finances at monthly MANCO and EXCO meetings
  • Review GL for accuracy and completeness monthly
  • Prepare monthly Management Accounts for review by the Financial Manager
  • Update the rolling forecast monthly
  • Prepare bi-monthly VAT calculations for review by the Financial Manager and external consultant
  • Other ad hoc outputs as and when required
  • Attend to customer and supplier enquiries as and when required

Non-routine outputs

  • Extract documents and prepare schedules and information necessary in compiling the audit files for the above entities
  • Attend to audit queries
  • Process non-routine journals in Edupac GL as and when required to do so
  • Review and approve year end salary procedures as required by VIP
  • Complete and submit all required statutory returns as and when required
  • Incentive process – work with the GM and Ops Manager to ensure incentives are
  • agreed in the required timeframe
  • Budgeting process – managing the budgeting process for all Opti-Baby schools, Head Office and the Property owning company
  • Provide financial support to the GM to effectively manage the business.
  • Business Improvement Management

Qualifications and Experience

  • Attention to detail is very important
  • Excellent communication skills
  • Fast learner
  • Honest
  • Strong Leadership skills
  • Professional, disciplined and confident
  • Deadline and output driven
  • Team player
  • BCom Accounting degree or diploma
  • At least 8 -10 years of commercial experience in a similar role with similar responsibilities Previous experience with schools’ accounting and/or Edupac would be advantageous
  • Please include your CV:
    Drop files here or