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Description

The Accounts Assistant is responsible for the day to day processing, recording, reconciliation and control of the Company's cash, petty cash, bank transactions, accounts payable and accounts receivable.

The position provides critical transaction level support to the Finance Department by ensuring that all receipts are properly accounted for, all payments are properly supported and recorded, all bank transactions are reconciled and all customer and supplier transactions are posted accurately and real time.

The Finance Assistant is expected to maintain accurate accounting records and promptly identify and escalate cash shortages, unexplained receipts, posting errors, unsupported payments, overdue receivables and unreconciled bank transactions.

Key Duties & Responsibilities

1. Petty Cash Management
   1. Maintain the petty cash register and ensure all transactions are recorded immediately.
   2. Maintain the petty cash fund in accordance with the approved petty cash policy.
   3. Direct the issuance of petty cash only against an appropriately completed and authorized petty cash voucher.
   4. Verify that every petty cash payment has proper authorization, valid supporting documentation, correct description of the expenditure, appropriate cost centre/account code and evidence of receipt where applicable.
   5. Ensure proper custody of petty cash and petty cash documents.
   6. Conduct periodic petty cash counts and reconcile physical cash to the petty cash book.
   7. Prepare petty cash replenishment requests when the balance reaches the approved threshold.
   8. Ensure replenishment amounts are properly supported and accounted for.
   9. Follow up outstanding petty cash accountabilities.
   10. Reject or escalate unsupported, unauthorized or questionable petty cash claims.
   11. Prepare daily and periodic petty cash reports for review by the Accountant/ Senior Accountant.

b.Cash receipting and reconciliation

1. Verify cash received against invoices, sales documents or approved payment requests.
2. Record all cash receipts accurately and promptly.
3. Maintain the daily cash collection register.
4. Reconcile cash collected to receipts issued and transactions posted in the accounting system.
5. Prepare daily cash-up reports.
6. Ensure cash collections are banked in accordance with Company procedures.
7. Investigate cash shortages and overages.
8. Immediately report unexplained cash variances to the Accountant/Senior Accountant.
9. Ensure no cash receipt is omitted from the accounting records.
10. Ensure customer payments are allocated to the correct customer account and invoice.
11. Assist with reconciliation of cash collected by Sales, Parts, Workshop and other revenue-generating departments.

c.Bank Management and Reconciliation

1. Obtain and maintain bank statements for all Company bank accounts as assigned
2. Record all bank receipts and payments in the accounting system.
3. Match bank transactions to customer receipts, supplier payments, staff payments, transfers, bank charges and other transactions.
4. Prepare bank reconciliation statements.
5. Identify and investigate unidentified deposits, unpresented cheques where applicable, outstanding transfers, bank charges, duplicate postings and other unreconciled items
6. Ensure unidentified bank receipts are followed up and allocated promptly.
7. Maintain a bank reconciliation tracker for outstanding items.
8. Ensure bank transactions are posted to the correct ledger accounts
9. Verify that bank payments appearing on bank statements have corresponding approved payment documentation
10. Escalate unauthorized or unusual bank transactions immediately.
11. Prepare daily/weekly/ monthly cash and bank position reports.

d.Accounts Payable Postings

1. Receive from the Accountant and capture supplier invoices into the accounting system.
2. Verify invoices against supporting documentation before posting. Match invoices with purchase orders, contracts, goods received notes, delivery documentation where applicable.
3. Confirm that supplier invoices have the required supplier details, invoice number, invoice date, tax information, description, amount, approval and supporting documents.
4. Post supplier invoices to the correct supplier account, expense/inventory ledger, cost centre, branch, department and tax category
5. Identify duplicate invoices before posting.
6. Maintain supplier account records.
7. Post supplier payments against the correct invoices.
8. Assist in obtaining and reconciling supplier statements.

1. Identify overdue supplier invoices and report them to the Accountant/Senior Accountant.
2. Assist in prepare accounts payable schedules as assigned from time to time
3. Maintain proper filing of supplier invoices and payment documents.
4. Assist with month-end accounts payable reconciliations.

e.Accounts Receivable Postings

1. Post customer invoices into the accounting system.
2. Assist with creating EFRIS invoices and reconciliations as and when required
3. Post customer receipts against the correct customer accounts.
4. Allocate customer payments to the correct invoices.
5. Prepare customer statements.
6. Assist in preparing the aged receivables report.
7. Follow up outstanding customer balances as directed by the Accountant/Senior Accountant.
8. Liaise with Sales and other relevant departments to resolve customer account discrepancies.
9. Investigate unidentified customer receipts.
10. Ensure customer deposits and advances are properly recorded and allocated
11. Monitor unapplied customer receipts and ensure they are cleared promptly.
12. Assist with monthly receivables reconciliations.

Requirements

Minimum Academic and/or Professional Qualifications Necessary

A Bachelor’s in Finance/Accounting, Business Administration or any related field from a recognized institution;

Additional Training/Qualifications/Certification Necessary

A Pre-professional Accounting Qualification (ATC or CAT) awarded from recognized Institution and accredited by the Institute of Public Accountants of Uganda (ICPAU)/ACCA

Minimum Experience and Exposure Necessary   

• A minimum of 1 year of practical experience in areas of finance, accounting and auditing from a reputable organization
• Demonstrable responsibility in managing books of accounts

Others/Extra Details

Key Knowledge Required

Knowledge of accounting software and spreadsheets

Key Skills Necessary

• Good communication skills
• Critical thinking and good analytical skills
• Good interpersonal skills

Other Qualities/Attributes

• High level of integrity
• Attention to detail
• Must be a team player
• Ability to work in teams with minimum supervision