Financial Accountant

Position : Financial Accountant
Location : Manila, Philippines
Company: Packwell, Inc. and Affiliates ('Packwell') 
About Packwell :
Packwell is an ISO 9001:2008 certified Plastics Bagging and Logistics Company established in Houston, Texas,
USA since 1986. Its packaging expertise involves bagging of polymers of all categories. It is amongst the
largest resin bagging companies in North America with over 160 thousand square meters of warehouse
facilities. It creates partnerships with each of its customers to meet and exceed their unique bagging/transloading and logistics requirements. Facilities in multiple locations allow greater flexibility in meeting time
sensitive requirements. All endeavors are directed towards customer satisfaction by continuous evaluation
and improvement of processes. In addition, it provides real-time feed-back to optimally manage individual
orders. State-of-the-art packaging facilities provide flexible, efficient and cost effective solution for the
customers' plastic resin handling requirements. Packwell's mission is to provide customers with plastics
bagging and distribution centers with superior quality and service.
Packwell is committed to hiring and developing top talent from across the world for any given discipline. Our
world-class teams operate with a philosophy of high inter-disciplinary collaboration, flat organizational
structure, and personal contribution at all levels. You will be expected to challenge and to be challenged, to
create, and to innovate. We appreciate outside-the-box thinking. Packwell is a small company with a sense of
family. In this environment, you will be hands-on, take personal responsibility for results and see the
concrete results of your work. This job is not for everyone; you must have a genuine passion for our mission.
Without passion, you will find what we're trying to do too difficult. 
About the Position :
This position will be based at Packwell's Philippines Processing Center in Manila, Philippines and will report
to the Chief Financial Officer based in Houston, TX and be responsible for the financial operations of Packwell
and its various affiliate entities. As the Financial Accountant, you will contribute directly to achieving the
financial strategy of Packwell by being responsible for the monthly financial closing, financial and
management reporting, effectiveness of our internal controls, effective maintenance of a sound cost
accounting system, and by assisting to create an effective working capital management model. You will be a
very 'operationally minded' accounting professional with a customer centric attitude towards internal and
external customers. 
Responsibilities :
Monthly Closing :
• Coordinate and perform the monthly financial closing with closing deadlines and schedules. Achieve
a seven-day close target by December 2024.
• Keep Month End Close Checklist updated and current.
• Reconcile all Balance Sheet accounts and perform analysis of assigned P&L Accounts.
• Review all routine transactions at frequent intervals to facilitate the achievement of a more rapid
month close beyond the seven-day target. This review will comprise of Billing / AR, Credit Memos,
Cash Receipts / Application, Purchases / AP / Vouching of vendor invoices, Cash disbursements,
Payroll, Fixed Assets, Intercompany accounting, general ledger, and Inventory / COGS transactions.
Oversee / perform the reconciliation and recordation of the credit card statements.
• Reconcile Intercompany accounts.
• Bank Reconciliations 
Financial and Management Reporting :• Prepare Financial Statements (BS, IS, Equity, and SOCF) in accordance with GAAP.
• Assist in preparing Management Reports / Analysis.
• Perform analytical reviews, and research & document variances from budget and prior periods.
• Perform profitability analysis.
• Assist in developing and analyzing financial KPI's.
• Assist to Compile:
o Packwell Operational KPI's.
o Costing Models:
ï'§ Production
ï'§ Shipping.
• Keep Cash Flow Worksheets updated timely.
• Assist in the preparation of Budget / Forecasts
• Prepare and distribute Treasury Reports
• Run Rail Car Report weekly.
• Prepare Monthly Borrowing Base Reports for Banks. 
Cost Accounting / Inventory :
• Take a lead role in cost accounting functions.
• Review, develop, set up, and maintain an effective Cost Accounting System including current average
(or future standard) costing and absorption rates for labor, material, and overhead.
• Track project costs of future expansion projects. Monitor contract milestones. Review vendor
invoices matching with contract terms.
• Develop and maintain product cost files and perform gross margin analysis (product line and
customer).
• Assist to Account for Inventory, raw material, and WIP.
• Develop and drive physical inventory and cycle count procedures including reconciliations and
adjustments.
• Analyze operational KPI's.
• Review variances, inventories, shipments, and manufacturing / maintenance department expenses.
• Analyze overtime and labor performance.
• Analyze and recommend cost savings in all cost components.
• Compile and analyze purchasing data and recommend cost savings.
• Assist management with costing and financial reports.
Process Documentations and Internal Controls
• Assist to ensure every task performed in Accounting / Finance is well documented with detailed
steps, flow charts, and/or narratives for cross training purposes.
• Assist to develop and maintain all accounting, reporting, and financial control policies and
procedures for the Company to ensure compliance with relevant accounting and financial controls. 
Audits and Statutory Filings :• Assist in coordination and execution of external Financial Audit and statutory filings.
• Assist in coordination of and execution Bank Field Examinations.
• Assist to file monthly / quarterly State Tax reports. 
Fixed Assets :• Migrate the Fixed Assets accounting from the current spreadsheet to SAGE.
• Add capitalized assets with accurate life and class.
• Review depreciation.
• Audit fixed assets.
• Assist in the ROI analysis of Capital Expenditures. 
Payroll & Labor costs :• Record Payroll using the ftp files.
• Liaise with HR&P to ensure payroll files for GL recordation are accurate.
• Assist others in the process of payroll.
• Assist to review Overtime with Operations.
• Analytically review payroll expenses.
• Ensure affiliates' labor and fringe costs paid by Packwell are charged to each affiliate and settled. 
Other value-add full charge tasks :• Vouch vendor invoices in AP module
• Record customer invoices in AR module
• Prepare, raise, and record customer billings:
o Packaging
o Storage
o Accessorial
o Other
• Record customer payments in Cash receipts module
• Perform 3-way matching of PO based vendor invoices. 
PPC Budget Analyst Tasks :• Prepare and submit for approval operating budget (Monthly and Annual) to PPC Manager and
Supervisor, and Inge Duran.
• Submit on first business day of month the Monthly Budget to HQ CFO for funding.
• Prepare monthly payroll.
• Bookkeeping for Philippines Processing Center.
• Coordinate the timely payment of operating expenses such as Rent, Utilities, Commercial Insurance,
HMO, Retainer Fees, Petty Cash replenishments, and other operating expenses. Checks are signed by
the PPC Operations Manager and Supervisor.
• Statutory Reporting of Contributions to Government Agencies (BIR, SSS, PhilHealth, PAG-IBIG).
• Statutory Annual Reporting to BIR (Employee Withholdings, Corporate Tax, VAT).
• Coordinate the timely payment of payroll related withholdings and taxes to Government Agencies.
• Generate and submit the appropriate financial statements and / or Reports to appropriate
Government Agencies (BIR, GSE, SEC, Bank).
• Manage Banking Relationships.
• Liaise with Auditors (Government and Financial).
• Secure Commercial Insurance as needed. 
Other Tasks :• Assist to utilize SAGE 300 to its fullest potential.
• Other project and research as delegated. 
REQUIREMENTS :• Minimum 6 years of general accounting 'full charge end-to-end' experience – MUST Have.
• BS, Accounting – MUST Have.
• CPA - Very Desirable.
• Mix of industry and public accounting experience - Very Desirable.
• Manufacturing industry – Not required but Desirable.
• Advanced Excel – MUST Have.
• SAGE 300 - Not required but Desirable.
• Be within a reasonable commuting distance – MUST Have. 
SUCCESS FACTORS / COMPETENCIES :• Adaptability - Highly organized and ability to plan and meet deadlines and prioritize accordingly.
• Aggressively delivers results (moves quickly with an Entrepreneurial sense of urgency and ownership)
• Conscientious
• Attention to details.
• Interpersonal skills - Must possess excellent inter-personal and communication skills to inter-act
effectively with other employees, customers and vendors and to obtain time-sensitive deliverables.
• Process Reengineering - Ability to challenge status quo, innovate, and improve process with an
abundance of common sense. (works smart – innovates process).
• Multi tasking.
• Maintains confidentiality.
• Solid business acumen.
• Proven partnership with Operations.
• Superior analytical skills.
• Knowledge of GAAP

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