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Financial Manager (Durban)

Glenwood, Durban, KZN
FINANCIAL MANAGER
Location: Durban
Salary: R50k pm


This candidate is responsible for ensuring that all Financial Records and processes are up to date, maintained and continuously improved for all the Company’s entities nationally and internationally.
The position is responsible for re-structure oversite of Creditors and Debtors functions and departments.
The Finance Department is responsible for directing, controlling and administering the financial activities of the organisation.
        
Job Requirements & Experience
  • Advanced degree in accounting, business, economics, finance, or a related field;
  • Several years of experience in a finance role;
  • Experience in working with the financials of multiple entities in multiple jurisdictions, nationally and internationally
  • Understanding of data privacy standards;
  • Deep understanding of business principles and practices;
  • Skills: leadership, employee management, communication, written and verbal, attention to detail, organisational skills, planning, research, analytics, critical thinking, problem-solving, integrity, honesty.
  • Computer Skills and several years of experience working with Pastel, Microsoft products and, Microsoft Dynamics NAV
 
Primary Responsibilities
Reporting to the Management or their designate; the candidate will be required to perform, but not limited to, the following roles and responsibilities:
 
Shared Services Accounts Receivables
  • Oversee the process of all entities in their pursuit of retrieving money owed by clients
  • Coordinate and manage team members to facilitate the collections process and reduce the number of files, statements and invoices that remain outstanding
  • Handles complaints from clients and manage difficult situations expediting amicable resolutions according to company policy
  • Oversee the collection of outstanding invoices to minimize profit loss and maximise positive effect on cash flow
  • Oversee collection challenges form clients including oversite of credits required to be given on invoices for non-conformances experienced during service delivery
  • Oversee collection from clients appropriately, per company policy and per client payment terms
  • Regularly review and evaluate clients credit worthiness within prescribed payment terms and: create further reward/incentive structures for performing and under-performing clients
  • Implement policies and procedures with clients to avoid excessive credit limits
  • Identify areas of the collection process that need improvement and implement enhanced processes that will help collectors be more effective.
  • Create and implement strategies to increase the number of successful collections on outstanding debt.
  • Communicate with clients to build and maintain a strong working relationship and reduce the number of clients who stop working with the company.
 
Human Resource
  • Recruit, hire, train and evaluate staff members within the collections department to ensure a sufficient number of staff members are available to handle the workload.
  • Develop goals that complement the overarching business goals of the company regarding debt recovery and collection
 
Shared Services Accounts Payable
  • Keeping track of all payments and expenditures, including payroll, purchase orders, invoices, statements, etc.
  • Reconciling all payables by verifying entries, comparing system reports to balances and performing variant checks
  • Paying employees by verifying expense reports and preparing pay checks
  • Paying vendors by scheduling pay checks and ensuring payment is received for outstanding credit; generally responding to all vendor enquiries regarding finance
  • Preparing analyses of accounts and producing monthly reports
  • Continuing to improve the payment process
 
Treasury
  • Oversite and management of Cash Book and Petty Cash Book capture and reconciliation against Bank Statements to Bank Statements by all entities
 
Payroll, Statutory and Provisions
  • VAT returns monthly for all entities:
  1. Draw VAT returns and ensure invoices are not duplicated
  2. Draw and cross-reference VAT entries against Sales information
  3. Upload VAT data for SARS audits
  • Oversee and manage the preparation of EMP 201 monthly for submission of PAYE and UIF on SARS e-filing
  • Oversee and manage the preparation of Prepare EMP 501 once every 6 months for submission of PAYE and UIF on SARS e-filing
  • Monthly provision for rental, audit fee and depreciation
 
Reporting and Analysis:
  • Managing the corporate month end accounting process
  • Preparation of the monthly management reports
  • Preparation of the Group consolidated financial statements
  • Consolidation of the Group budget for the management reporting pack
  • Preparation of the Board reporting pack
  • Managing the monthly variance analysis and providing commentary on the financial performance
  • Preparation and lodgement of monthly corporate taxes including FBT, Income tax and quarterly business activity statements (BAS)
 
Bi-Annual
  • Complete Provisional Tax calculations
  • Preparation of income statement, calculating Provisional Tax from income statements and ensure that payment is made
     
Monthly and Annual General Ledger and Audit
  • Prepare audit working papers:
    1. Preparation of schedules, reconciliations etc. for audit purposes
    2. Capture correct opening balances and compare to auditors’ trial balance
    3. Ensure that Creditors’ analysis agrees to Supplier statements
    4. Process Journals for accruals
    5. Reconcile Debtors on to Debtors analysis
    6. Reconcile Sales o to VAT returns for the year
    7. Restatement of Foreign Currency Account balance at year end
    8. Intercompany loan account reconciliation
    9. Shareholders loan account schedules
  • Cash in transit reconciliation
  • Cash to master reconciliation
  • Compile Fixed Asset Cash Register
  • HP liabilities – request balance confirmations and prepare schedules
  • Analyze repairs and maintenance accounts to ensure no capital amounts
  • Review final annual financial statements after audit to ensure accuracy and agreement
  • Process any journal entries picked up by the auditors
  • Submit annual returns:
  1. CIPRO return for all companies – update any changes to company information and pay annual fee
  2. Liquor Licenses – update any changes to company information and pay annual fee
  3. Business License – update any changes to company information
  4. Customs Renewals for Durban – update any changes to company information and pay annual fee
  5. Prepare and submit directors’ tax returns
 
Shared Services Consolidation
  • Centralising and managing receivables and the resources facilitating receivables across all entities and branches with the aim of expediting receivables and reducing significantly the age analysis to an average of 30 days
  • Centralising and managing payables and the resources facilitating receivables across all entities and branches with the aim of securing larger discounts for nationwide suppliers
  • Cash Flow
  • FEC’s
 
Personal Attributes:
  • Attention to detail
  • Friendly disposition
  • Maintain a professional appearance at all times
  • Provide a positive company image to any persons directly involved with The Company’s
  • Good attendance record
  • Committed to work ethics
  • A good team player
  • Excellent written and verbal communications skills
 
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