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  • Posted: Jan 21, 2022
    Deadline: Not specified
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  • Twiga is a mobile-based supply platform for Africa’s retail outlets, kiosks, and markets stalls.
    Read more about this company

     

    Financial Accountant

    The role holder will provide assurance over the completeness and accuracy of the initial recognition, quantification, classification, recording and reporting of all revenue and expenditure of the business (CAPEX and OPEX).

    The role will also be responsible for the Cash and Treasury of the business by assuring timely, complete, and accurate payments and collections of all costs and revenues.

    Responsibilities

    Management of the Procure-to-Pay Processes:

    • Confirm adherence to the due procedures within the Procure-to-Pay process, which includes.
    • Ensuring the accurate and timely booking of invoices, cost estimates (accruals) by the payables team.
    • Ensuring 3-way match principle is applied as a primary control and Supplier reconciliations are performed as a secondary control for all payments.
    • Ensuring timely payment of all company obligations to suppliers, farmers, debt partners, government and compliance bodies and staff
    • Confirm that the Authority/ Approval (DOA) matrix as pertains payment approvals and bank approvals is followed and that all payments have sufficient approvals by cost centre owners in accordance with the laid-out authority matrix and ensuring changes are made as staff changes happen.
    • Manage the master data integrity within the Accounts Payable ledger, including account codes and expense classification as well as maintenance of functions, cost centres and all applicable dimensions as per the set-out chart of accounts, for the purpose of facilitating dimensional reporting and detailed variance analysis.
    • Lead verification of that all expenditure to ensure it is within budget and variances analysed.
    • Oversee the controls over source and payment documents handling and archiving for the time required to meet audit, legal and tax requirements.
    • Certify all applicable taxes are applied to or deducted from to outgoing and incoming invoices.
    • Exercise strict controls over debit notes, supplementary invoices, credit notes, rebates, commissions, and all other supports to adjustments to cost.

    Management of Order-to-Cash Processes:

    1. Confirm adherence to due procedures within the Order-to-Cash process, which includes:
    2. Ensuring timely and accurate recognition and recording of all revenue data to facilitate daily, weekly, and monthly reports.
    3. Ensuring daily Gross reconciliations of Volume-Revenue-Cash is applied as a primary control and bank reconciliations are performed as a secondary control.
    4. Ensuring timely collection of all company dues from routes, key accounts and staff.
       
    5. Exercise strict controls over debit notes, supplementary invoices, credit notes, rebates, commissions, refunds, returns, incentives and all other adjustments and exceptions to revenues and receivables.
    6.  
    7. Manage the KYC and customer onboarding process from a risk perspective as well as the maintenance and updating of the organization credit policy and continuous monitoring of customer credit risk.
    8.  
    9. Lead control over credit by flagging overdue/over limit debts and initiating ‘Stop Orders’ instructions on a timely basis.
    10. Manage the master data integrity within the revenue and accounts receivables ledger, including account codes and revenue classification including maintenance of territories, routes, channels, and all applicable dimensions as per the set-out chart of accounts, for the purpose of facilitating dimensional reporting and detailed variance analysis.
    11. Lead controls over, onboarding, source and collection documents and overseeing the safe and orderly archiving of all revenue assurance related documents for the time required to meet audit, legal and tax requirements.
    12. Confirm that all applicable taxes are applied to billings and ETR compliance is maintained.
    13. Lead controls over debit notes, supplementary invoices, credit notes, rebates, commissions, cash back, customer incentives, loyalty programs and all other adjustments to revenue.
    14. Prepayments and Provisions Management:
    15.  
    16. Manage an efficient and reliable accruals and provisions process, based on trend, insights, and contingent events, and backed by supporting documents and approvals.
    17. Track all prepaid and estimated expenditure and applying timely and accurate accruals and amortization to ensure matching concept is adhered to and balances in the prepayments, provisions and accruals accounts reflect the true position within the business.

    Cash flow and Treasury Management:

    1. Lead the preparation of a rolling monthly cash forecast highlighting cash needs in the forecast period and ensuring adequate funding in local and foreign currencies for all OPEX and CAPEX.
    2. Manage the bank master data information and ensure the information held is up to date and active.
    3. Verify postings of all cash transactions to relevant cash books on a timely basis; signing off bank reconciliations; processing FX transactions and managing bank relationships

    Reporting:

    Participate in the monthly, quarterly, and annual management reporting with specific accountability for revenue completeness, expenses completeness, trade payables, accrued payables, cash and bank as well as working capital movements in cashflow statement.

    Perform variance analysis across all dimensions of reporting (functions/cost centres / territories/ account lines etc.)

    go to method of application »

    Accounts Payables

    About Twiga

    Twiga is a B2B e-commerce company that builds fair and reliable markets for agricultural producers, food manufacturers and retailers based on transparency and efficiency. Our Mission is to build a closed ecosystem for the African retail, anchored on affordable access to food and grocery across urban cities. Our Ambition is to everage technology, the ubiquity of mobile phones, modern distribution and logistics to modernize African retail.

    Accounts Payables Vacancy

    1. We are looking for an experienced Payables Accountant for who will be responsible for organizing all the payables transactions of the business in a manner that facilitates efficient, timely and accurate measurement, classification, recording, and payment processing for purpose of meeting all company payment obligations.
    2.  
    3. The role holder will also be responsible for ensuring accurate and timely payments of all company obligations to suppliers, debt partners, government and compliance bodies, Kenya Revenue Authority, and staff as per the set-out service levels, credit terms / limits and statutory deadlines and as well to manage the relationships with all our creditors.
    4.  

    Responsibilities

    1. Execution of Procure-to-Pay process:
    2. On a continuous basis ensure that all supplier invoices and credit notes forwarded for reconciliation have been posted into appropriate supplier ledgers and general ledger accounts on the ERP and against correct cost centres.
    3. Perform all accounts payables reconciliation against supplier statements, highlighting any reconciling items for follow up and resolution by Payables Assistant.
    4. Confirm that all the invoices received have the sufficient approvals to for payments, according to the Delegation of Authority matrix and that any variances to budgets are approved before any payments are made.
    5. Verify that payments are always done on a set schedule and in alignment to monthly cash forecast.
    6. Confirm that suppliers of fresh produce are paid according to sourcing schedule and applicable deductions made.
    7. Confirm that all relevant Tax Returns are prepared in a timely and accurate manner (i.e., VAT, Withholding VAT, Withholding Tax, PAYE, Reverse VAT etc.) including all other relevant compulsory statutory payments e.g., NSSF, NHIF etc.) as per the required timelines.
    8. Verify that suppliers of fresh produce are paid according to sourcing schedule and applicable deductions are made.

    Stakeholder Relations Management:

    Maintain continuous communication with internal and external stakeholder with prompt turn-around to queries.

    Reporting:

    Support the monthly, quarterly, and annual reporting process with specific emphasis on assigned reports and audit schedules such as aged supplier ledger.

    Document Management and Stock Verification:

    1. Exercise tight control over source and payment documents and oversee the safe and orderly archiving of all payment and payment related documents for the time required to meet audit, legal and tax queries.
    2. Participate in the physical stock taking exercise in conjunction with the wider accounting team monthly.
    3. Participate in the business wide crate/pallet physical verification exercise and recommending write-offs losses on a quarterly basis.

    Minimum Qualifications And Experience

    1. Have at least 3 years working experience in a busy accounting environment (with considerable exposure to high volume of transactions and technical accounting environments such as Audit or Tax).
    2. Have prior experience working with an ERP/Substantial accounting software.
    3. Have a university degree in Business, Economics, or relevant field.
    4. Be a qualified Accountant (CPA-K), ACCA or CIPS equivalent.
    5. Have a good working knowledge of MS Excel skills and a strong ability in using other MS Office applications.

    Method of Application

    Use the link(s) below to apply on company website.

     

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