ACCOUNTS ASSISTANT

Job Description & Requirements

Roles & Responsibilities

Accounts Receivable (AR)

• Issue invoices and progress claims, variation orders (VO) and other billings
• Monitor collections and follow up on overdue project payments
• Prepare Statement of Accounts (SOA) for clients

Accounts Payable (AP)

• Process subcontractor and supplier invoices
• Verify invoices against Purchase Orders (PO), Delivery Orders (DO), and contracts
• Prepare payment vouchers and schedule payments to subcontractors and suppliers
• Reconcile supplier statements

Project Accounting

• Monitor and record project revenue and costs for each project
• Track project budgets vs actual costs and highlight variances
• Assist in Percentage of Completions (POC) calculations for revenue recognition
• Track project expenses such as materials, subcontractor costs, labour, and equipment

Bank & General Ledger

• Perform bank reconciliations
• Post journal entries and accruals related to project costs and revenue
• Maintain accurate general ledger records

Month-End/ Year-End Closing

• Prepare project cost schedules and revenue recognition schedules
• Assist in preparing financial statements and management reports
• Liaise and provide audit schedules and supporting documents to auditors

Financial Reporting

• Assist in preparing management reports
• Update financial data in accounting systems

Tax & Compliance

• Assist with GST reporting and submissions
• Ensure documentation complies with accounting standards and company policies

Liaison & Coordination

• Work closely with project managers, quantity surveyors, and procurement team
• Liaise with auditors, banks, and external parties when required

Subsidiary Accounts and Consolidation

• Prepare, review, and reconcile subsidiary ledger accounts, including accounts payable, accounts receivable, and inventory
• Manage all subsidiary accounts to ensure completeness, accuracy, and proper documentation of financial transactions
• Perform regular reconciliations between subsidiary accounts and the general ledger
• Investigate and resolve discrepancies in account balances promptly
• Support month-end and year-end closing activities, ensuring subsidiary accounts are properly reflected in financial statements
• Prepare and maintain group consolidated financial statements in accordance with applicable accounting standards
• Perform monthly / quarterly / yearly consolidation of financial results from subsidiaries
• Review subsidiary financial statements to ensure accuracy, completeness, and compliance with group accounting policies
• Eliminate intercompany balances and transactions during the consolidation process
• Prepare consolidation journals, including adjustments for intercompany eliminations and reclassifications
• Reconcile intercompany balances among group entities and follow up on discrepancies
• Assist in the preparation of group management reports and financial analysis
• Support the year-end audit process by preparing consolidation schedules and responding to auditor queries

Other Duties

• Provide administrative support /other finance-related duties as assigned
• Manage, Develop and implement strategic plans and budgets for the organization.
• Overall responsible to oversee day-to-day administrative tasks and ensure the completion on time and quality.
• Develop and implement efficient administrative policies and procedures to enhance productivity and ensure compliance with company standards.
• Maintain accounting files and records
• Assist with ad hoc finance tasks assigned by the Finance Manager or Accountant
• Opening of bank accounts, project financing, annual review of trade facilities, etc.
• Assist in the implementation of the new accounting or ERP system

Requirements:

• Minimum Degree qualification in Bachelor of Commerce
• 4 years of experience in project accounting
• Good command of MS Office applications
• Good analytical and problem-solving skills
• Ability to handle multiple projects and meet tight deadlines
• Good communication skills to liaise with project managers, quantity surveyors, subcontractors, bankers and auditors
• Strong organizational and documentation skills
• Responsible and able to work independently