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Accounts Assistant
WHAT YOU WILL DO
Responsible to the Finance Officer (FO). The Account Assistant plays a crucial role in supporting the finance department by performing various accounting and administrative tasks. This position is responsible for timely and accurate recording of financial transactions, maintaining records, reconciliations and contributing to the overall efficiency of the finance team as guided by the college policies.
Scope of the role:
- Accounting and administration
- Accounts Payable and Receivable
- Financial Record Keeping
Your key Responsibilities:
- To ensure that all funds received from clients is receipted in the system accurately, on time and a valid receipt is issued
- Reconciling cash deposits/cheque collections at the end of each day with cash book balances and Prepare cash received schedules and summaries relating to cash receipts on a weekly and monthly basis, separated between tuition and other receivables
- Collecting cash revenue and ensuring banking is done within 24hrs as well as Perform reconciliation of accounts, identify and resolve adjustments and discrepancies in financial records
- Monitor monthly receivables activity while making sure that that billing, collection, and reporting is done
- Examine and analyze customer account details, which include non-payments, delayed payments and create an internal recovery system to ensure debtors days are maintained at 30days
- Set-up new customers and suppliers in Microsoft Dynamics NAV system, Complete general ledger account reconciliations by analyzing transactions, comparing expected results to actual results, identifying errors, and making necessary corrections, and presenting data in a user-friendly format
- Continuous debt collection to ensure receivables are maintained within 30days and match supplier invoices to the delivery notes and the Purchase orders before updating them into the Microsoft Dynamics NAV system
- Ensure timely Supplier Reconciliations before processing payment and Verify that all payment documents are properly approved, accurate and complete before processing of Suppliers, Staff and Students Payments by EFT, Cheque or Mpesa
- Calculation and Deduction of Withholding Taxes where applicable, adjusting the WHT and issuing withholding certificates and assist with the tax provision reporting process and the tax compliance process to include the submission of tax returns and tax payments to the relevant tax authorities
- Ensure that all adjustments to supplier accounts including credit /debit notes are approved accordingly before processing and respond to queries from the suppliers and customers
- Liaising with the procurement department regarding any supplier queries and Prepare payables and receivables audit schedules
- Any other duties assigned by management.
THE SKILLS AND COMPETENCES WE ARE LOOKING FOR: EDUCATION AND EXPERIENCE
Minimum requirements:
- Bachelor’s Degree in Accounting and Finance plus CPA (I) or equivalent qualifications
- Over two (2) years’ experience in financial accounting in a learning institution
Key Skills and Competencies
- Considerable knowledge of financial accounting and debt collection systems
- Ability to perform professional accounting work in accordance with the international “Generally Accepted Accounting and Auditing Principles” (GAAP), procedures and controls
- Effective communication skills ability to present ideas clearly, both orally and in writing and to prepare comprehensive reports
- Ability to identify and resolve problems in a timely manner, gather and analyze information skillfully, develop alternative solutions, work well in group problem solving situations and use reason even when dealing with emotional topics
- Considerable knowledge of computerized information and financial management systems, proficiency in database systems, spreadsheet and flow chart applications, computerized accounting systems
- Demonstrate ability to meet deadlines, analyze financial and operational data and information, think analytically and critically
- Ability to maintains high level of confidentiality, remain open to new ideas and experiment with improved systems and proven methods
- Ability and willingness to make consultative decisions, exhibit sound and accurate judgment, support and explain reasoning for decisions, include appropriate people in decision-making process and makes timely decisions
Personal Attributes
- Team player
- Positive attitude
- Initiative taker
- Logical and detail oriented
- Good analytical and problem-solving skills
- Highly committed and self-motivated
Finance Officer
WHAT YOU WILL DO
Responsible to the Finance Manager (FM). This role involves budgeting, financial reporting, compliance, and collaborating with other departments to ensure efficient financial operations. The Finance Officer ensure accurate and timely postings and reporting on both receipts and payments according to college policies. The Finance Officer works closely with the FM to maintain financial stability and transparency within the college.
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Scope of the role:
- Budgeting
- Financial reporting
- Compliance
- collaborating with other departments
Your key Responsibilities:
Budget Management:
- Develop and manage the annual budget in collaboration with relevant departments and Monitor budget performance and provide regular reports to the FM.
Financial Reporting:
- Review of cash and bank reconciliations and ensuring they are done within set deadlines
- Maintain and update fixed assets register and reconciling it to the General ledger monthly and ensure capital equipment is tagged upon receipt
- Prepare on a timely manner an accurate monthly Depreciation Schedule.
- Processing Part time payroll and reconcile payroll to General ledger monthly and distribute pay slips to staffs at the end of each payroll.
- Prepare and capture part time payroll journals in the transaction system accurately and timely in the appropriate accounting periods
- Maintain an orderly and clean chart of accounts
- Prepare accurate and timely financial reports for internal and external stakeholders.
- Ensure compliance with accounting principles, regulatory requirements, and college policies.
- Present financial information to the FM and other stakeholders as required.
Cash Flow Management:
- Monitor cash flow and liquidity to support day-to-day operations.
- Coordinate with relevant departments to forecast cash needs and optimize cash management strategies.
- Maintain relationships with financial institutions and manage banking activities.
Financial Analysis:
- Conduct financial analysis to support decision-making processes.
- Evaluate the financial performance of various college programs and initiatives.
- Provide insights and recommendations based on financial data.
Income/Grants/Funding:
- Ensure accurate and timely invoicing
- Prompt debts collection as per the policy
- Fee Structure and policy set up for all Programmes and inputting fees structure in the system every trimester accurately and timely
- Prepare provisions of bad and doubtful debts and write offs where applicable as per International Financial Reporting Standards and College policy
- Reconcile the Student debtors in Unisol system and student debtors in Microsoft Dynamics NAV system to ensure accuracy and completeness of data on monthly basis
- Prepare aged debtors reports on a monthly basis
- Sending reminders to students and parents with balances and follow up of the same
- Keep an up to date student’s status records in relation to (continuing, graduated, academic leave, expelled etc.) in liaison with registry office
- Identify and pursue opportunities for grants and funding to support college projects.
- Ensure compliance with projects requirements and reporting obligations.
Payables Management:
- Verification of supplier payment vouchers to ensure they are complete, accurate, fully approved and posting them into the system
- Ensuring proper authorizations for payments is strictly followed and any expenditure incurred is supported by payment vouchers
- Review of creditors reconciliations ensuring they are done within set deadlines
Audit and Compliance:
- Facilitate external audits and ensure compliance with accounting standards.
- Implement and maintain internal controls to safeguard college assets.
- Address audit findings and implement corrective actions as necessary.
Financial Policies and Procedures:
- Develop and update financial policies and procedures to ensure adherence to best practices.
- Educate and train staff on financial policies and procedures.
Collaboration:
- Collaborate with other departments to gather financial information and support their financial needs.
- Provide financial guidance and support to department heads.
- Any other duties assigned by management.
THE SKILLS AND COMPETENCES WE ARE LOOKING FOR: EDUCATION AND EXPERIENCE
Minimum requirements:
- Bachelor’s Degree in Accounting and Finance plus CPA (K) or equivalent qualifications
- Over Four (4) years’ experience in financial accounting in a learning institution
Key Skills and Competencies
- Considerable knowledge of financial accounting systems
- Ability to perform professional accounting work in accordance with the international “Generally Accepted Accounting and Auditing Principles” (GAAP), procedures and controls
- Effective communication skills ability to present ideas clearly, both orally and in writing and to prepare comprehensive reports
- Ability to identify and resolve problems in a timely manner, gather and analyze information skillfully, develop alternative solutions, work well in group problem solving situations and use reason even when dealing with emotional topics
- Considerable knowledge of computerized information and financial management systems, proficiency in database systems, spreadsheet and flow chart applications, computerized accounting systems
- Demonstrate ability to meet deadlines, analyze financial and operational data and information, think analytically and critically
- Ability to maintains high level of confidentiality, remain open to new ideas and experiment with improved systems and proven methods
- Ability and willingness to make consultative decisions, exhibit sound and accurate judgment, support and explain reasoning for decisions, include appropriate people in decision-making process and makes timely decisions
Personal Attributes:
- High integrity levels
- Team player
- Positive attitude
- Initiative taker
- Logical and detail oriented
- Good analytical and problem-solving skills
- Highly committed and self-motivated
Method of Application
Use the link(s) below to apply on company website.