ASSISTANT ACCOUNTANT

Key Duties and Responsibilities

1. General Accounting

• Maintain accurate and complete accounting records.
• Record daily financial transactions into the accounting system.
• Prepare journal entries and supporting schedules.
• Maintain the general ledger and subsidiary ledgers.
• Ensure transactions are correctly classified under appropriate accounts.
• Review accounting entries for completeness and accuracy.
• Assist in maintaining the company's chart of accounts.

2. Accounts Payable

• Process supplier invoices and payment requests.
• Verify invoices against purchase orders, contracts and supporting documents.
• Prepare supplier payment schedules.
• Monitor outstanding supplier balances.
• Reconcile supplier statements with accounting records.
• Follow up on invoice discrepancies with suppliers.
• Maintain proper documentation for all payments.

3. Accounts Receivable

• Prepare and issue customer invoices.
• Record customer receipts and update accounting records.
• Monitor outstanding receivables.
• Prepare ageing reports.
• Follow up on overdue customer accounts.
• Reconcile customer accounts and resolve discrepancies.
• Maintain accurate records of customer transactions.

4. Bank and Cash Reconciliation

• Perform monthly bank reconciliations.
• Reconcile bank statements with accounting system records.
• Investigate and resolve unreconciled transactions.
• Monitor cash receipts and payments.
• Maintain proper records of petty cash transactions.
• Prepare cash-flow information for management review.

5. Month-End and Year-End Closing

• Assist with monthly and annual financial closing.
• Prepare month-end journal entries.
• Prepare accruals and prepayments.
• Assist with depreciation and fixed asset accounting.
• Reconcile balance sheet accounts.
• Prepare schedules supporting financial statement balances.
• Assist in identifying and correcting accounting discrepancies.

6. Financial Reporting

• Assist in preparing monthly management accounts.
• Prepare Profit and Loss Statements.
• Assist in preparing Balance Sheets.
• Prepare cash-flow reports.
• Prepare supporting financial schedules.
• Compare actual financial performance against budgets.
• Highlight significant financial variances to management.
• Assist in preparing financial reports for management review.

7. Budgeting and Forecasting

• Assist management in preparing annual budgets.
• Maintain budget monitoring schedules.
• Compare actual expenditure with approved budgets.
• Assist with revenue and expense forecasting.
• Prepare financial data required for business planning.
• Support management in analysing operating costs and profitability.

8. GST and Tax Support

• Maintain proper records of taxable purchases and sales.
• Assist in preparing GST reporting schedules.
• Reconcile input and output GST accounts.
• Support preparation of GST submissions.
• Maintain supporting documents required for tax and GST purposes.
• Assist accountants or tax agents with corporate income tax computations and supporting schedules.

9. Payroll and Staff Cost Accounting

• Assist in preparing payroll-related accounting entries.
• Maintain salary and staff cost records.
• Reconcile payroll expenses with accounting records.
• Assist with CPF and statutory contribution reconciliations.
• Maintain employee reimbursement and expense records.
• Verify staff claims against company policies.

10. Fixed Asset Management

• Maintain the company's fixed asset register.
• Record asset purchases and disposals.
• Calculate and record depreciation.
• Conduct periodic verification of fixed assets.
• Reconcile fixed asset records with the general ledger.
• Maintain documentation for company assets.

11. Audit Support

• Prepare schedules and supporting documents for auditors.
• Respond to accounting information requests.
• Assist with annual audit preparation.
• Maintain organised accounting records for audit purposes.
• Assist in resolving audit queries.
• Support implementation of recommendations arising from audits.

12. Financial Controls

• Ensure proper supporting documents are maintained for financial transactions.
• Follow established accounting and approval procedures.
• Assist in monitoring internal financial controls.
• Identify unusual transactions or accounting discrepancies.
• Report material financial irregularities to management.
• Assist in improving accounting procedures and documentation.

13. Expense Management

• Verify employee expense claims.
• Review company operating expenses.
• Maintain expense schedules.
• Monitor recurring expenses.
• Assist in identifying opportunities for cost control.
• Ensure expenses are supported by appropriate documentation and approvals.

14. Management Support

• Provide financial information requested by management.
• Prepare financial summaries for business decisions.
• Assist in analysing revenue and operating expenses.
• Prepare supporting information for management meetings.
• Assist with financial projections and business planning.
• Support management in improving financial efficiency.

Required Qualifications

• Diploma or Degree in Accounting, Finance, Business Administration or a related discipline.
• Relevant accounting or finance experience preferred.
• Knowledge of accounting principles and bookkeeping procedures.
• Familiarity with accounting software.
• Proficiency in Microsoft Excel and Microsoft Office.
• Knowledge of Singapore GST, CPF and basic tax requirements will be advantageous.

Required Skills

• Financial accounting
• Bookkeeping
• General ledger management
• Accounts payable
• Accounts receivable
• Bank reconciliation
• Financial reporting
• Budget monitoring
• GST accounting
• Payroll accounting
• Microsoft Excel
• Accounting software
• Analytical skills
• Attention to detail
• Numerical accuracy
• Time management
• Confidentiality

Key Performance Responsibilities

The Assistant Accountant will be expected to:

• Maintain accurate accounting records.
• Complete reconciliations on time.
• Ensure timely processing of invoices and payments.
• Maintain accurate accounts receivable records.
• Support timely month-end closing.
• Prepare accurate management reports.
• Maintain proper accounting documentation.
• Support GST, tax and audit requirements.
• Assist management in monitoring costs and financial performance.