Job Summary
The Accounting Officer is responsible for overseeing the day-to-day accounting and finance operations, including Accounts Receivable, Accounts Payable, Legal and Taxation, Treasury, and Billing & Collection functions.
In addition, the Accounting Officer provides support in budgeting and forecasting, and variance analysis, assisting management in tracking actual performance against approved budgets and forecasts. The role contributes to the timely preparation of accurate, reliable, and compliant financial information to support operational and management decision-making.
The Accounting Officer is engaged in the preparation of financial statements for MEZ2 Water and West Cebu Water, and reviews its accounting and finance operations. Assist the Manager in the
operations of all Estate Water projects, including but not limited to Lima Water, MEZ2 Desal, and TARI Water.
Duties and Responsibilities
ACCOUNTING OPERATION
- Reviews the transactions in conformity with Finance and Accounting standards, following established business rules in the financial system
- Prepares monthly financial statements, report package and any other requested reports.
- Reviews all receivable transactions as they occur and monitors the aging of accounts receivable.
- Reviews recorded payable transactions to ascertain completeness of recorded expenses and determine necessary accruals, corrections and adjustments, submit for recording.
- Performs substantiation, reconciliation and analysis of assigned balance sheet and income statement accounts to ensure accuracy of balances of assets, liabilities and expenses in the General Ledger.
TAX COMPLIANCE
- Checks data, working paper, calculations, and documentation of taxes to be submitted to tax authorities.
- Reviews and verifies Notice of Assessment or payment order related to taxes and permits; and ascertains proper calculation and reconciliation with Company's records.
- Ensures timely filing of monthly, quarterly, and annual tax returns supported by appropriate documents.
- Provides necessary information and analysis to respond to inquiries and aids financial reporting, budgeting, financial audits, tax examinations, and due diligence.
- Consolidates paper works, documentation, correspondence for filing VAT input claims; including review of paid supplier invoices and official receipts
BUDGET
- Interfaces with Department requestors/users and procurement team in addressing queries and issues related to OPEX, CAPEX purchases and other projects.
- Validates CAPEX and OPEX request to ensure proper documentation and approval; and to ascertain whether it is budgeted or not. Monitor budget and analyze its utilization.
FIXED ASSET MANAGEMENT
- Reviews fixed asset transactions in terms of additions, reclassifications, disposals and write-offs. Ensure correctness of accounts related to fixed assets such as depreciation, accumulated depreciation and gain or loss.
- Ensures that the fixed assets and construction-in-progress transactions comply with company's capitalization policy, any deviation thereof should be reported for verification.
TREASURY
- Ensures proper monitoring of cash balance, prepares, updates and monitors cash flow projection, with anticipated cash inflows and outflows.
- Reviews and validates payable transactions to ensure that they are in conformity with company policies and procedures, Finance and Accounting standards and prevailing government regulations.
- Monitors compliance of loan agreements by submitting all the requirements documents as stipulated in the contracts, proper timing of loan drawdown and the required financial ratio by the lenders.
COORDINATION
- Maintains an effective working relationship with procurement teams to ensure proper and timely payment of liabilities.
- Coordinates with banks to monitor bank balances, withdrawals and deposits and other bank arrangements.
- Monitors compliance on provisions of contracts entered into by the company as to timing of payments, accuracy of amount and submission of required documents.
- Interfaces with concerned departments to address issues or concerns regarding financial transactions with Vendors/Employees.
ADMINISTRATIVE
- Maintains an orderly filing of physical and electronic, files, documents and records assigned for custodianship to allow easy subsequent retrieval.
- Performs month-end and year-end closing tasks in accordance with established due dates as set forth in the month-end closing calendar.
- Performs tax accounts reconciliation to ensure accuracy of balances of tax expense and liabilities accounts in the General Ledger.
Qualifications
- Education: Bachelor's Degree (Accountancy)
- Minimum of three (3) years of relevant experience in an Accounting or Finance Department, with hands-on exposure to financial statement preparation and analysis
- Experience in SAP or other ERP/accounting systems is required
- Experience working in a PEZA-registered company or with PEZA-related compliance and reporting is an advantage
- Certified Public Accountant (CPA) is a must
