The Accountant is responsible for the maintenance of the Company’s accounting and tax records, preparation of financial reports and management of key financial and tax relationships as set out in the responsibilities and duties below. Key stakeholders are the founders/CEO/CFO (the senior management) and the position reports to the Group accountant.
Responsibilities and Duties
• Scan and upload purchase invoices into the accounting system and make the entries for purchase invoices in the system for approval by the Group accountant. Manage financial relationship with all suppliers and joint-venture partners.
• Make the accounting entries for all company bank statements ensuring that the balance in the system agrees to the balance on the bank statements.
• Prepare payments for approval by senior management.
• Maintain an always up-to-date back up of the company’s bank and MPesa records as retrieved from the respective systems.
• Interface with the banks to ensure smooth and acceptable operations.
• Ensure that all financial queries from the operations and other departments are dealt with promptly to support day to day operations of the business.
• Prepare weekly JV report and manage the financial relationship with JV partners ensuring on time and accurate payments to them each week. Reconcile weekly report and payments to the management accounts prepared each month and prepare accounting entries for any differences for review by the Group Accountant. Any difference should be “trued-up” in the next week’s payment to the JV partner.
• Prepare statutory returns to the NSSF, NHIF and KRA for VAT, Withholding tax, PAYE and other applicable taxes. Stay up to date with current tax legislation and ensure that the Company meets its tax reporting and payment requirements as set out by the KRA and so avoiding any interest and penalties. Act as the Company’s contact point with the KRA. Highlight any potential issues of non-compliance to senior management.
• Prepare P/L, Cashflow and Balance Sheet each month, writing a report to senior management of key financial highlights each month. The expectation is that this will be delivered by the 5th working day of each month for the prior month. The report should also include commentary on the asset and liability section of the Balance Sheet, highlighting financial and tax implications arising from the Company’s assets and liabilities and well as its P/L.
• Propose / maintain a purchase order, inventory and cash float system appropriate to the needs of the business (maintenance of financial control while supporting on-time delivery of goods, services, inventory and cash floats).
• Report to senior management any financial irregularities and/or suspicions of the same and in a timely manner.
• Adhoc financial, taxation and regulatory tasks as and when required by senior management.