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Finance Administrator
| Posting date: | 04 November 2024 |
|---|---|
| Salary: | £38,500 to £39,500 per year |
| Hours: | Full time |
| Closing date: | 04 December 2024 |
| Location: | London, UK |
| Remote working: | On-site only |
| Company: | VASAVE FINANCIAL SERVICES LTD |
| Job type: | Contract |
| Job reference: | IT JOBS |
Summary
Key Responsibilities:
Financial Record Maintenance:
Ensure accurate and up-to-date maintenance of financial records, including accounts payable and receivable ledgers.
Perform data entry and manage transactions with precision to avoid discrepancies.
Reconcile bank statements, credit card statements, and general ledger accounts to maintain the integrity of financial data.
Utilize accounting software (e.g., QuickBooks, Sage, Xero) to streamline data processing and report generation.
Budget Preparation and Monitoring:
Assist in the development of the company’s annual budget, collaborating with department heads to collect necessary data and forecast expenditures.
Monitor actual expenses against budgeted figures and generate variance analysis reports.
Recommend adjustments to budget allocations based on financial performance and projected needs.
Financial Reporting:
Prepare monthly, quarterly, and annual financial statements, ensuring compliance with GAAP (Generally Accepted Accounting Principles) or IFRS (International Financial Reporting Standards), as applicable.
Develop detailed management reports that provide insights into the company's financial health.
Support the preparation of audit schedules and liaise with external auditors during audit processes to ensure compliance and accuracy.
Payroll Management:
Process payroll in a timely manner and manage related tasks such as tax filings, contributions, and deductions in accordance with local regulations.
Maintain accurate employee records and handle payroll discrepancies efficiently.
Stay updated with the latest payroll software and tools to optimize the payroll process.
Accounts Payable and Receivable:
Oversee the processing of invoices, ensuring all are verified, approved, and processed within designated payment terms.
Manage collections by coordinating with customers and internal departments to ensure timely receipt of payments.
Implement automated invoicing systems to enhance the accuracy and efficiency of accounts receivable functions.
Compliance and Risk Management:
Ensure all financial operations are compliant with applicable laws and regulations, such as tax laws and data protection standards.
Support the development and enforcement of internal financial controls to minimize the risk of fraud or mismanagement.
Assist in identifying potential financial risks and recommend mitigation strategies.
Cash Flow Management:
Monitor the company’s cash flow to anticipate and address potential shortfalls or surpluses.
Prepare cash flow forecasts to support strategic decision-making and maintain optimal liquidity levels.
Manage relationships with banks and financial institutions to facilitate efficient cash management and resolve any transactional issues.
Financial Policy Implementation:
Work alongside senior management to develop and implement financial policies and procedures that enhance operational efficiency and financial integrity.
Educate staff on new or updated financial procedures, ensuring they understand and adhere to established guidelines.
Continuously review and update financial practices to align with the latest industry standards and technological advancements.
System and Technology Management:
Support the implementation of new financial systems or enhancements to existing systems.
Provide technical support and training to other finance team members on the use of financial software.
Stay informed about the latest financial technology trends and recommend relevant updates to streamline finance operations.
Collaboration and Cross-Functional Support:
Collaborate with departments such as Sales, HR, and Operations to ensure seamless financial processes across the company.
Act as a liaison between the finance department and other teams, fostering a cooperative and supportive environment.
Assist in special projects and perform ad-hoc financial analysis as required by senior management.
Financial Record Maintenance:
Ensure accurate and up-to-date maintenance of financial records, including accounts payable and receivable ledgers.
Perform data entry and manage transactions with precision to avoid discrepancies.
Reconcile bank statements, credit card statements, and general ledger accounts to maintain the integrity of financial data.
Utilize accounting software (e.g., QuickBooks, Sage, Xero) to streamline data processing and report generation.
Budget Preparation and Monitoring:
Assist in the development of the company’s annual budget, collaborating with department heads to collect necessary data and forecast expenditures.
Monitor actual expenses against budgeted figures and generate variance analysis reports.
Recommend adjustments to budget allocations based on financial performance and projected needs.
Financial Reporting:
Prepare monthly, quarterly, and annual financial statements, ensuring compliance with GAAP (Generally Accepted Accounting Principles) or IFRS (International Financial Reporting Standards), as applicable.
Develop detailed management reports that provide insights into the company's financial health.
Support the preparation of audit schedules and liaise with external auditors during audit processes to ensure compliance and accuracy.
Payroll Management:
Process payroll in a timely manner and manage related tasks such as tax filings, contributions, and deductions in accordance with local regulations.
Maintain accurate employee records and handle payroll discrepancies efficiently.
Stay updated with the latest payroll software and tools to optimize the payroll process.
Accounts Payable and Receivable:
Oversee the processing of invoices, ensuring all are verified, approved, and processed within designated payment terms.
Manage collections by coordinating with customers and internal departments to ensure timely receipt of payments.
Implement automated invoicing systems to enhance the accuracy and efficiency of accounts receivable functions.
Compliance and Risk Management:
Ensure all financial operations are compliant with applicable laws and regulations, such as tax laws and data protection standards.
Support the development and enforcement of internal financial controls to minimize the risk of fraud or mismanagement.
Assist in identifying potential financial risks and recommend mitigation strategies.
Cash Flow Management:
Monitor the company’s cash flow to anticipate and address potential shortfalls or surpluses.
Prepare cash flow forecasts to support strategic decision-making and maintain optimal liquidity levels.
Manage relationships with banks and financial institutions to facilitate efficient cash management and resolve any transactional issues.
Financial Policy Implementation:
Work alongside senior management to develop and implement financial policies and procedures that enhance operational efficiency and financial integrity.
Educate staff on new or updated financial procedures, ensuring they understand and adhere to established guidelines.
Continuously review and update financial practices to align with the latest industry standards and technological advancements.
System and Technology Management:
Support the implementation of new financial systems or enhancements to existing systems.
Provide technical support and training to other finance team members on the use of financial software.
Stay informed about the latest financial technology trends and recommend relevant updates to streamline finance operations.
Collaboration and Cross-Functional Support:
Collaborate with departments such as Sales, HR, and Operations to ensure seamless financial processes across the company.
Act as a liaison between the finance department and other teams, fostering a cooperative and supportive environment.
Assist in special projects and perform ad-hoc financial analysis as required by senior management.