Job Description

Job Summary

Manages the Accounts Receivable (A/R) section of the General Accounting Department to provide timely and accurate A/R aging reports, monitor long outstanding receivables, prompt processing of Sales Invoice and debit/credit documents needed by the sales representatives for collection from customers

Duties and Responsibilities

Accounts Receivable

• Monitors the A/R balance of customers and coordinates with Credit and Collection department for the status of collection of accounts
• Prepares the monthly A/R aging report, checks long outstanding uncollected balances and calls the attention of Sales Department and Credit & Collection Department
• Checks sales invoices with other reference documents (e.g., order forms, delivery receipts, order inquiry forms, customer confirmation forms) to ensure accuracy of various information such as customer name, terms, sales representative, selling price, computation, quantity, metric ton and maturity date
• Ensures correctness and prompt preparation of sales invoices, debit memo, credit memo, adjusting entries
• Checks and reconciles tonnage of monthly dispatch thru delivery receipt register from plant with the sales invoice register, in order to monitor delivery receipt with no sales invoice
• Prepares the supporting A/R and other schedules as support to the financial statement
• Maintains and updates the subsidiary ledgers of customers
• Monitors and analyzes customer’s subsidiary ledger to validate and ascertain correct balances
• Ensures proper documentation, recording, monitoring, reporting and control of all accounts receivable transactions
• Prepares journal vouchers to record adjustments related to reconciliation of A/R general ledger vis-à-vis customer’s subsidiary ledger
• Coordinates and reconciles with Sales and Credit Department any discrepancies in A/R
• Prepares Sales and A/R schedules for the year-end audit requirement of external auditors
• Checks and validates liquidation of sales and non-sales personnel
• Keep herself abreast of latest developments and best practices in the field of accounting

Accounts Payable

• Supervises the Account Payable section and ensures the timely processing of billings for payment, submission of relevant reports requested by the management, government agencies and other third parties
• Verifies all Payment Request Form (PRFs) for expenses and payments to be made to suppliers/ contractors, etc.
• Determines the proper charging of account to their proper account classifications: e.g., asset, expense, liability
• Ensures the daily postings/recording of account Payable vouchers
• Totals the disbursement and Check Register book at the end of the month and recapitulates the payments for the month to serve as the basis for posting of disbursements and payments to the general ledger
• Ensures that the subsidiary ledger of accounts payable are reconciled with the general ledger accounts
• Process & submits monthly schedule of accounts payable per supplier with ageing and highlights of long outstanding liabilities
• Maintains reliable and updated records of disbursements including cash disbursement book and accounts payable subsidiary ledgers
• Ensures accurate and timely submission of all reports related to Accounts Payable and in the timely recording & posting of accounts payable transaction.
• Initiates Purchase Requisition (PR) as needed by Accounting Department

Accounting Registers

• Reviews and checks accuracy of journal vouchers to record the following registers relative to monthly closing of books of accounts:
• Sales register
• Cash receipts register
• Accounts payable voucher register
• Cash disbursement register
• General Ledger register
• Debit memo register
• Credit memo register

Bank Reconciliation

• Prepares bank reconciliation statement of SCP’s bank accounts and prepares the necessary adjusting entries thereof
• Coordinates with Treasury Department on the documents needed for bank reconciliation such as bank statements, passbooks, deposit slips, bank debit and credit memos

Adjustments—Debit Memo and Credit Memo

• Checks and reviews cost of claims chargeable to truckers arising from downgraded item
• Checks debit and credit memos against other reference documents (e.g., delivery receipts and finished goods returns report) to ensure accuracy of various information such as customer’s and supplier’s names, quantity, description and computation
• Checks and reconciles tonnage of monthly finished goods return receipt register thru credit memo register, in order to monitor FGRR with no credit memo

Filing of BIR Returns

• Prepares documents required by government agency (BIR) in filing VAT, Expanded Withholding Tax, Withholding Tax on Compensation, Income Tax, and Fringe Benefits Tax
• Prepares the corresponding Alpha list with regards to the BIR Returns
• Reconciles the BIR Returns schedules with general ledger balances
• Prepares reconciliation of monthly, quarterly, and annual BIR returns schedule as required by government agency (Letter of Authority of BIR) for examination of SCP book

Financial Reporting and Budgeting

• Prepares & Review journal vouchers; validates entries therein, computations and correctness of the amounts
• Ensures that postings of all transaction such as journal vouchers and books of accounts are completed on time
• Ensures accurate posting / consolidation of plant trial balance to Makati trial balance
• Generates accurate and timely monthly Trial Balance as basis for financial statements preparation
• Prepares monthly gross profit analysis per market, product line, specification and classification of prime and seconds
• Coordinates with SCP-Makati functional heads in the proper and timely preparation of their respective budgets for the upcoming year

Payroll

• Attends to all inquiries and complaints relative to payroll
• Checks man-hours and other relative data received from timekeeping section for peso value conversion and ensures that all wages are received by the employees on time
• Prepares and calculates employee’s adjustments and employee’s benefits
• Prepares check request, bank transmittal letter and bank remittance reports and others transactions to expedite the release of payroll and other benefits due to employees
• Ensures that company receivables on employees and other deductions are deducted upon employee’s termination/registration
• Ensures monthly remittance of SSS, HDMF, Philhealth and Tax (loans, contributions and payments)
• Prepares Journal Entries of payroll for booking to general ledger
• Prepares PRF for the terminal and final pay of resigned employees
• Ensures timely submission of government reportorial requirements and payments e.g. annualization of tax on compensation tax to BIR

Qualification

• Graduate of Bachelor of Science in Accountancy
• Must be a Certified Public Accountant (CPA)
• With 5 years of relevant experience in General Accounting in a supervisory position gained from a manufacturing company
• Knowledgeable in financial calculations