Accounting Associate

The Accounting Associate is responsible for assisting in various accounting tasks, ensuring that the company’s financial records are accurate and up-to-date. This includes handling general accounting functions such as bookkeeping, preparation of financial documents, bank reconciliations, processing invoices, and assisting with monthly and year-end financial reporting. The Accounting Associate plays a vital role in maintaining the integrity of financial data and supporting the overall finance and accounting team.

Key Responsibilities:
1. General Accounting & Bookkeeping
Record financial transactions: Assist in recording daily financial transactions, including sales, purchases, receipts, and payments, into the company’s accounting system.
Journal entries: Prepare and post journal entries for various transactions, ensuring accuracy and proper categorization.
Maintain general ledger: Assist in maintaining the general ledger, ensuring all accounts are up to date and reconciled.

2. Accounts Payable & Receivable
Process invoices: Review, verify, and process accounts payable invoices in a timely manner. Ensure that all vendor invoices are accurate and properly documented.
Payment processing: Prepare payment vouchers, ensure payments are made according to company policy, and update records in the accounting system.
Monitor accounts receivable: Assist in monitoring accounts receivable, ensuring timely collection of outstanding invoices from customers.
Prepare aging reports: Prepare and assist in accounts receivable aging reports to track overdue payments and follow up with customers as needed.

3. Bank Reconciliation
Perform bank reconciliations: Reconcile bank statements with the company’s financial records on a regular basis to ensure accuracy and completeness of records.
Investigate discrepancies: Investigate and resolve any discrepancies between the bank statements and accounting records.

4. Financial Reporting Assistance
Assist in report preparation: Assist the accounting team in preparing monthly, quarterly, and annual financial reports such as income statements, balance sheets, and cash flow statements.
Ensure data accuracy: Verify that all financial data and reports are accurate and comply with accounting principles and company policies.

5. Tax Compliance Support
Assist with tax filings: Help prepare documents and reports for tax filings, including VAT, withholding tax, and income tax.
Prepare tax records: Maintain accurate records for tax reporting, including payments and tax filings, to ensure timely and accurate tax returns.

6. Documentation & Record Keeping
Maintain financial records: Organize and maintain all financial documents, including invoices, receipts, bank statements, and accounting reports, ensuring proper filing and easy retrieval.
Support audits: Assist in the preparation of documentation for internal and external audits by providing required financial records and reports.

7. Assist in Financial Planning
Assist in budgeting: Support the preparation of the company’s budget by providing necessary financial data, reports, and insights.
Monitor budget performance: Help track and monitor actual spending against the budget, preparing variance reports as needed.

Qualifications:
Education:
Bachelor’s degree in Accounting, Finance, or a related field.
A Certified Public Accountant (CPA) license is a plus but not required.
Experience:
At least 1-2 years of experience in accounting, bookkeeping, or a similar role.
Experience in handling basic accounting functions such as accounts payable, accounts receivable, and bank reconciliations is preferred.

Skills & Abilities:
Familiarity with Philippine Financial Reporting Standards (PFRS) and local tax regulations.
Proficiency in accounting software (e.g., SAP, QuickBooks, Xero) and Microsoft Office, particularly Excel (basic to intermediate skills)
Strong attention to detail and accuracy in data entry and financial reporting.
Ability to manage multiple tasks simultaneously and meet deadlines.
Good communication and interpersonal skills for interacting with team members, vendors, and customers.
Strong organizational and time-management skills.