Accounting Specialist

Job Description: Accounting Specialist

Position Overview:

We are seeking a detail-oriented and highly skilled Accounting Specialist to join our finance team. As an Accounting Specialist, you will play a crucial role in ensuring accurate financial records, supporting financial analysis, and maintaining compliance with local accounting regulations. The ideal candidate must have a strong foundation in accounting principles, excellent attention to detail, and a commitment to delivering high-quality work.

Responsibilities:

Petty Cash Fund Management:

• Monitor and reconcile the petty cash fund, ensuring accuracy and proper documentation of all transactions.
• Maintain and update petty cash records, including receipts, vouchers, and disbursement details.
• Perform periodic audits of petty cash balances to verify appropriateness of expenditures and adherence to company policies.

BIR Reports Filing Compliance:

• Prepare and submit BIR reports in compliance with Philippine tax regulations, such as monthly and quarterly tax returns (e.g., VAT, withholding taxes).
• Ensure accuracy and timeliness of all required reports, adhering to the BIR filing deadlines.
• Stay updated with changes in tax laws and regulations, communicating any relevant updates to the finance team.

General Accounting:

• Prepare financial statements, including journal entries, general ledger maintenance, and account reconciliations.
• Ensure accurate recording of financial transactions and maintain organized financial records.
• Collaborate with the accounting team to ensure accurate and timely month-end and year-end closing activities.
• Participate in the implementation and maintenance of accounting systems and processes, recommending improvements where necessary.

Financial Analysis and Reporting:

• Assist in the preparation of financial schedules and reports for internal and external stakeholders.
• Prepare financial statements and reports in compliance with accounting standards and regulations.
• Conduct variance analysis and provide explanations for budget vs. actual results.
• Assist in financial forecasting and budgeting processes.
• Identify trends, patterns, and areas of improvement through financial analysis.

Budgeting and Cost Control:

• Collaborate with the finance team to develop budgets and financial plans.
• Monitor budget performance and provide regular updates on variances.
• Identify cost-saving opportunities and recommend strategies for cost control.

Cash Flow Management:

• Monitor and manage cash flow activities, including accounts payable and accounts receivable.
• Forecast cash flow requirements and ensure adequate liquidity.
• Implement efficient cash management practices and optimize working capital.

Compliance and Audit Support:

• Assist with internal and external audit processes, providing necessary documentation and responding to audit inquiries.
• Ensure compliance with internal controls, company policies, and regulatory requirements.
• Assist in the development and maintenance of accounting policies and procedures.

Process Improvement:

• Identify opportunities to streamline accounting processes, improve efficiency, and enhance internal controls.
• Participate in system implementation and upgrades to optimize financial management systems.
• Recommend and implement best practices to enhance financial operations.

Stakeholder Communication:

• Collaborate with cross-functional teams, including finance, operations, and senior management, to provide financial insights and support decision-making.
• Communicate financial information effectively to stakeholders, providing clear explanations and recommendations.

Qualifications:

• Bachelor's degree in Accounting, Finance, or a related field. Professional certification (e.g., CPA) is a plus.
• Proven experience (2+ years) in accounting or finance.
• Solid understanding of Philippine accounting principles, tax regulations, and reporting standards.
• Proficiency in accounting software (Quickbooks) and MS Office applications (particularly Excel).
• Strong analytical skills and attention to detail, with the ability to identify and resolve discrepancies.
• Familiarity with general accounting processes, including journal entries, reconciliations, and financial statement preparation.
• Knowledge in BIR report requirements and filing procedures.
• Excellent organizational and time management skills, with the ability to prioritize tasks and meet deadlines.
• Strong written and verbal communication skills, with the ability to collaborate effectively with cross-functional teams.

As an Accounting Specialist, you will play a crucial role in ensuring the accuracy of our financial records, conducting financial analysis, and supporting financial decision-making processes, monitoring petty cash funds, and maintaining compliance with BIR report filing requirements. Joining our team will provide you with valuable experience in accounting operations and tax compliance. If you are detail-oriented, self-motivated, and eager to contribute to a dynamic finance team, we encourage you to apply for this position and become a valuable asset to our organization.