Accounting Associate

JOB SUMMARY:

The Accounting Associate is responsible for supporting the financial operations of the company, with a primary focus on Accounts Payable (AP), Accounts Receivable (AR), and Inventory management. This role ensures accurate financial records, timely processing of transactions, and efficient coordination with internal and external stakeholders.

KEY RESPONSIBILITIES:

1. Reports directly to Finance Supervisor

2. Accounts Payable (AP), in-charge of overseeing company's obligations to its suppliers and vendors. This includes processing invoices, ensuring timely and accurate payments, reconciling accounts, and maintaining vendor relationships.

A. Process and review vendor invoices, ensuring accuracy, proper documentation, and approval before payment processing.

B. Verify invoices against purchase orders and delivery receipts, resolving discrepancies with the Purchasing and Inventory teams.

C. Prepare payment batches, ensuring timely disbursement via checks, bank transfers, or other approved payment methods.

D. Maintain a well-organized record of accounts payable transactions, ensuring timely follow-ups on pending invoices.

E. Communicate with vendors regarding payment inquiries, disputes, and reconciliations to maintain good supplier relationships.

F. Ensure regulatory compliance by properly accounting for VAT and EWT in all applicable transactions.

G. Raise any issues or red flags observed in AP transactions, such as discrepancies, unusual payment patterns, or potential fraud, and escalate to the Finance Supervisor/Manager.

H. Assist in the preparation of periodic AP reports and aging analysis to support financial planning.

3. Accounts Receivable (AR), in-charge of overseeing incoming payments and ensure that the company collects revenue from customers in a timely and efficient manner. This includes issuing invoices, tracking outstanding balances, following up on overdue payments, and reconciling customer accounts.

A. Generate and issue SalesInvoices(SI), Collection Receipts(CR), Acknowledgement Receipts (AR) and Statement of Accounts (SOA) - ensuring accuracy in pricing, terms, and supporting documentation.

B. Monitor accounts receivable ledgers, track outstanding balances, and follow up on overdue payments to ensure timely collections.

C. Coordinate with customers to resolve billing discrepancies and disputes, escalating unresolved issues as necessary.

D. Process and record incoming payments, ensuring correct application to respective accounts and invoices.

E. Ensure regulatory compliance by properly accounting for VAT and EWT in all applicable transactions

F. Prepare aging reports and collection summaries for management review.

G. Assist in implementing credit control measures and customer payment agreements to minimize bad debts.

H. Raise any issues or red flags observed in AR transactions, such as irregular payment behaviors, potential bad debts, or fraudulent activities, and escalate to the Finance Supervisor/Manager.

4. Inventory Management:

A. Assist in monitoring and tracking inventory transactions, ensuring all movements (purchases, transfers, and disposals) are properly recorded in the accounting system.

B. Work closely with the Inventory and Purchasing teams to validate stock levels and reconcile discrepancies between system records and physical counts.

C. Support periodic inventory audits by preparing and reviewing inventory reports, verifying counts, and documenting adjustments.

D. Ensure that inventory valuation aligns with accounting principles and company policies.

E. Assist in the identification of slow-moving or obsolete inventory items and coordinate necessary financial adjustments

QUALIFICATIONS:

• Must be a graduate of BS Accountancy
• At least 1-3 years experience as F&B support team
• Proficiency with accounting softwares and Microsoft office
• Leadership experience is an advantage
• Demonstrate experience with more complex tasks and set up such as handling high-volume transactions
• Attention to details and willing to learn
• Basic to intermediate knowledge of the accounting cycle and principles
• Change-oriented and Process Improvement Skills
• Proactive and nurture collaboration