Revenue Account Officer

Job description:

The Revenue Accounting Officer is responsible for ensuring the accuracy, completeness, and proper support of revenue-related accounting records and trade-related balance sheet accounts.

The role focuses on revenue recognition, account reconciliation, aging analysis, accounting schedules, supporting documentation, and financial controls, while providing technical accounting support to Finance Operations and other relevant departments.

The position works closely with the Finance Operations Supervisor, Finance Manager/CFO, Account Management, Operations, Production, Procurement, and other business units to ensure that revenue and trade-related transactions are properly supported, recorded, reconciled, and cleared on a timely basis.

The role also serves as a technical resource on revenue recognition, persuasive evidence, accounting documentation, and relevant PFRS requirements.

2. Key Responsibilities

A. Trade-Related Balance Sheet & Account Reconciliation

• Prepare monthly trade-related balance sheet schedules and supporting working papers.
• Perform regular reconciliation of assigned balance sheet and revenue-related accounts to the General Ledger.
• Ensure the accuracy, validity, completeness, and proper classification of each account balance.
• Investigate reconciling items, unusual balances, and discrepancies and ensure that necessary adjustments are identified and processed on a timely basis.
• Maintain complete and organized reconciliation files and supporting documentation.
• Coordinate with relevant Finance team members and business units to resolve outstanding reconciling items.

B. Aging Analysis & Account Monitoring

• Prepare and maintain aging analysis of relevant trade-related balance sheet and other assigned accounts.
• Identify aged, unusual, unsupported, or unresolved balances requiring action.
• Coordinate with responsible personnel to determine the appropriate action and target resolution date.
• Monitor outstanding items until properly resolved or cleared.
• Escalate long-outstanding or material items to the superior together with the recommended resolution.

C. Revenue Recognition

• Perform revenue recognition based on the approved revenue list/instructions provided by the superior.
• Ensure that revenue recognized is fully supported by appropriate and persuasive evidence, including, as applicable:
• Signed Cost Estimates
• Purchase Orders
• Contracts or approved commercial arrangements
• Client confirmations
• Certificates of Completion or equivalent evidence of delivery
• Other documents demonstrating that the revenue recognition criteria have been met
• Ensure revenue is recognized in the appropriate period and in accordance with applicable PFRS and company accounting policies.
• Review revenue transactions for completeness, accuracy, proper classification, and appropriate supporting documentation.
• Identify and escalate revenue recognition exceptions, unsupported transactions, or unusual accounting treatments.

D. Trade-Related Purchase Order Review

• Review relevant supporting documents before approval or processing of trade-related Purchase Orders.
• Check consistency between the PO, Job Order, Cost Estimate, contract/commercial terms, and other relevant documentation.
• Ensure that required approvals and supporting evidence are in place.
• Identify inconsistencies, incomplete documentation, or potential accounting/revenue recognition concerns and escalate these to the superior before processing.

E. Revenue Recognition Controls & Technical Support

• Develop and maintain a strong understanding of the agency's product and service lifecycle, from client engagement and Job Order creation through execution, completion, billing, and revenue recognition.
• Develop expertise in revenue recognition requirements under PFRS and their application to the agency's various products and services.
• Provide technical guidance to Finance and relevant business units regarding:
• Revenue recognition
• Persuasive evidence
• Required supporting documentation
• Revenue cut-off
• Accounting controls
• Proper transaction processing
• Assist in establishing and maintaining practical controls and guidelines to ensure consistent application of revenue recognition policies.
• Support the Finance team in addressing technical accounting questions relating to revenue and trade transactions.

F. Cross-Functional Reconciliation & Resolution

• Work closely with Finance Operations and other departments to ensure timely clearing of trade-related aging and balance sheet items.
• Coordinate with Account Management, Operations, Production, Procurement, and other relevant teams to obtain missing documents or resolve transaction-related issues.
• Follow through on identified issues until appropriate resolution is implemented.
• Promote accountability among concerned parties for unresolved financial and documentation issues.

G. External & Tax Audit Support

• Prepare and provide schedules, reconciliations, supporting documents, and other audit requirements for external financial statement audits and tax/BIR audits.
• Coordinate with the Finance team and relevant departments to gather complete and accurate documentation required by external auditors and tax authorities.
• Assist in responding to audit queries, particularly those relating to revenue recognition, trade-related accounts, balance sheet schedules, aging items, and supporting documentation.
• Review and validate schedules and supporting documents before submission to auditors to ensure accuracy, consistency, and completeness.
• Maintain a tracker of outstanding audit requirements and coordinate with responsible parties to ensure timely submission and resolution.
• Assist in investigating audit findings, reconciling identified differences, and preparing proposed adjustments or corrective actions for review by the superior.
• Maintain properly organized audit schedules and supporting documentation for future reference.
• Escalate significant audit or tax issues, unsupported balances, documentation gaps, and potential accounting or tax exposures to the superior on a timely basis.

H. Month-End & Year-End Closing Support

• Prepare assigned month-end and year-end schedules and supporting working papers.
• Assist in the preparation of necessary accruals, adjustments, reclassifications, and other accounting entries relating to assigned accounts.
• Perform account tie-outs and ensure that supporting schedules are reconciled to the General Ledger.
• Ensure all assigned closing activities are completed accurately and within the established reporting timeline.

I. Escalation & Issue Resolution

• Escalate accounting, revenue recognition, reconciliation, documentation, control, audit, or tax issues to the superior on a timely basis.
• Clearly communicate the nature, financial impact, urgency, and potential risks associated with identified issues.
• Recommend practical and appropriate resolutions for issues and escalations.
• Exercise sound judgment while recognizing matters that require management, accounting policy, or commercial decisions.

J. Process Improvement – First 12 Months

Within the first 12 months, the Revenue Accounting Officer is expected to:

• Review existing processes relating to revenue accounting, account reconciliation, aging management, supporting documentation, and functional assignments.
• Identify process gaps, recurring issues, unnecessary manual activities, and opportunities for stronger controls.
• Recommend and assist in implementing process improvements.
• Recommend improvements in the preparation and standardization of accounting schedules and reconciliations.
• Identify opportunities for automation and system enhancements.
• Help establish clearer functional responsibilities and handoffs within Finance Operations.
• Contribute to reducing recurring reconciling items, aged balances, and revenue recognition exceptions.

3. Key Performance Indicators (KPIs)

1. Account Reconciliation & Balance Sheet Integrity

• Timeliness and accuracy of monthly reconciliations
• Number and value of unresolved reconciling items
• Timely processing of required adjustments
• Reduction of recurring reconciliation issues
• Completeness and quality of supporting schedules

2. Revenue Recognition

• Accuracy and timeliness of revenue recognition
• Completeness of supporting documentation
• Compliance with PFRS and company revenue recognition policies
• Number of revenue recognition exceptions or corrections
• Timely resolution of identified revenue issues

3. Aging Management

• Accuracy and timeliness of aging reports
• Reduction of aged and long-outstanding items
• Timely follow-up and resolution of assigned items
• Percentage of aging items with clear ownership and action plans

4. External & Tax Audit Support

• Timeliness and completeness of audit schedules and requirements
• Timely resolution of audit queries
• Quality and accuracy of supporting documentation
• Reduction of recurring audit findings and documentation issues

5. Process Improvement

• Number and quality of process improvements implemented
• Reduction in manual or redundant activities
• Improvement in reconciliation and revenue recognition turnaround time
• Reduction of recurring errors and unresolved items

4. Qualifications & Experience

• Bachelor's degree in Accounting, Finance, or related field.
• CPA qualification is an advantage.
• Preferably 3–5 years of relevant experience in accounting, revenue accounting, financial reporting, reconciliation, or related finance functions.
• Experience in revenue accounting, balance sheet reconciliation, month-end closing, and financial controls is preferred.
• Experience in supporting external financial statement audits and tax/BIR audits is an advantage.
• Working knowledge of PFRS, particularly revenue recognition, is required.
• Experience in a project-based, professional services, advertising, creative, media, production, PR, or similar industry is an advantage.
• Experience using an ERP system, preferably NetSuite, is an advantage.
• Strong Excel and financial analysis skills.