Job Openings Australian Accountant (Private Equity Firm)

About the job Australian Accountant (Private Equity Firm)

Position Description: Accountant

Position Title: Accountant

Employment Type: Full-Time

Reports To: Finance Manager / Director



Position Overview:

We are seeking an experienced Accountant with strong expertise in Xero and a comprehensive understanding of the Australian tax system. The ideal candidate will be responsible for managing financial records, processing transactions, reconciling accounts,and ensuring compliance with Australian tax regulations. This role is pivotal in supporting our finance team with accurate reporting and effective financial management.

Key Responsibilities:

  1. Financial Accounting and Reporting:
  • Maintain and update financial records in Xero, including accounts payable, accounts receivable, and general ledger entries.
  • Prepare monthly, quarterly, and annual financial reports.
  • Conduct bank and credit card reconciliations.
  • Complete end-of-day and end-of-month procedures.

2. Tax Compliance and Reporting:

  • Ensure compliance with Australian tax laws and regulations, including Goods and Services Tax (GST), Business Activity Statements (BAS), and Pay As You Go (PAYG) withholding.
  • Prepare and lodge BAS, IAS, and other statutory obligations.
  • Assist with the preparation of income tax returns for individuals, companies, and trusts.
  • Manage and ensure compliance with corporate taxation obligations, including payroll tax and fringe benefits tax.

3. Accounts Reconciliation and Analysis:

  • Perform balance sheet and profit and loss reconciliation.
  • Identify and resolve discrepancies promptly.
  • Conduct variance analysis and provide financial insights.

4. Payroll Support:

  • Process payroll transactions in compliance with Australian award rates and tax obligations.
  • Manage superannuation contributions and payroll tax requirements.
  • Oversee payroll processing for all employees, ensuring compliance with Australian tax and superannuation laws.

5. Client Support and Communication:

  • Communicate with clients regarding financial records, tax obligations, and reconciliation queries.
  • Provide support during audits and financial reviews.

6. Process Improvement:

  • Identify areas for process improvement within accounting and reporting procedures.
  • Implement best practices for financial management and compliance.

7. Budgeting and Forecasting:

  • Develop, implement, and manage the annual budget, forecasting financial performance based on historical data and industry trends.

8. Inventory Management and Cost Accounting:

  • Implement and maintain systems for inventory management and cost accounting to track costs of goods sold (COGS) and ensure accurate reporting of margins and profitability.
  • Monitor inventory levels and conduct cost analyses related to procurement, ensuring efficient inventory control and implementing cost reduction strategies.

9. Cash Flow Management:

  • Monitor and manage the company's cash flow, ensuring sufficient liquidity for day-to-day operations and future investments.

10. Financial Input on Expansion Plans:

  • o Provide financial input on the company's expansion plans, including assessing the economic viability of new projects and capital investments.


Key Requirements:

Education: Bachelor's degree in accounting, Finance, or a related field.

Experience: Minimum of 3 years of experience in accounting, with specific experience in Xero and Australian taxation.

Technical Skills:

  • Proficiency in Xero accounting software.
  • Strong understanding of Australian tax compliance (GST, BAS, PAYG).
  • Advanced MS Excel skills.

Communication Skills: Excellent written and verbal communication skills.

Attention to Detail: High level of accuracy and attention to detail.

Time Management: Ability to manage multiple deadlines effectively.


Preferred Qualifications:

  • Exposure to Australian accounting practices and standards.
  • Knowledge of Single Touch Payroll (STP) and Super Stream compliance.
  • Key Performance Indicators (KPIs):
  • Accuracy and timeliness of financial reporting.
  • Compliance with Australian tax deadlines and regulations.
  • Effective reconciliation of accounts with minimal discrepancies.
  • Client satisfaction and responsiveness.

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