Finance Assistant
Salary:
£25,000 - £29,000
Location:
West Midlands
The Role:
• The primary objective of a Finance Assistant is to contribute to the efficient and accurate management of financial records and processes. This includes:
• Data Entry – Accurately input financial data into accounting software, ensuring data integrity and consistency. Finance Assistants are responsible for accurately inputting financial data into accounting software, ensuring that the information is reliable and consistent.
• Invoice Data: Accurately entering invoice details such as vendor name, invoice number, date, amount, and product or service descriptions.
• Payment Information: Recording payment details, including payment method, date, and amount.
• Expense Reports: Inputting employee expense reports, verifying supporting documentation, and categorizing expenses appropriately.
• Bank Transactions: Entering bank statements, checks, and other financial transactions into the accounting software.
• General Ledger Entries: Posting journal entries to the general ledger to record financial transactions.
• Invoice Processing. Verify, process, and record invoices, ensuring timely payments and accurate tracking of expenses.
• Check for Completeness: Ensure that the invoice includes all necessary information, such as vendor name, invoice number, date, description of goods or services, and amount due.
• Verify Accuracy: Compare the invoice details to purchase orders or contracts to ensure accuracy and prevent overcharges.
• Coding: Assign appropriate accounting codes to the invoice items based on the company’s chart of accounts. This ensures that expenses are recorded in the correct categories.
• Data Entry: Enter the invoice information into the accounting software, including vendor details, invoice number, date, amount, and accounting codes.
• Approval: Obtain necessary approvals from authorized personnel, depending on the invoice amount and company policies.
• Payment Processing: Process the payment according to the company’s payment terms and methods (e.g., check, wire transfer, electronic payment).
• Recording: Record the invoice and payment information in the accounting software to update accounts payable and vendor balances.
• Filing: File the invoice and supporting documentation for future reference.
• Account Reconciliation. Reconcile bank and other accounts to ensure accuracy and identify discrepancies.
• General Office Administration. Perform administrative tasks such as filing, photocopying, and data management.
• Assisting the Finance Team. Provide support to the finance team in various tasks, such as preparing financial reports and analysing financial data.
• Debtors Ledger Management. Manage the debtors ledger, ensuring accurate recording of customer accounts and timely collection of payments.
• Credit Control. Monitor customer creditworthiness and take appropriate action to collect overdue payments.
• Assist with Purchase Ledger Management. Support the purchase ledger team in processing supplier invoices and managing accounts payable.
• Cash Book Preparation. Prepare the cash book, recording all cash receipts and payments.
• Bank Reconciliation. Reconcile bank accounts to ensure accuracy and identify any discrepancies.
• Management Accounting Support. Assist with the preparation of management accounting reports, such as profit and loss statements and balance sheets.
Requirements:
• Previous experience as an Accounts Assistant
• Clear effective communicator verbally and across cultures
• AAT preferable
• Previous experience of dealing with suppliers and customers
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