Financial Accountant

Position: Financial Accountant – Libstar

The Financial Accountant is responsible for the full financial accounting, payroll and reporting functions of Libstar Central Office. The role ensures the accuracy and completeness, and integrity of financial information through effective management of month-end processes, payroll administration, budgeting, forecasting, fixed assets and intercompany transactions.

The role acts as support to management by providing financial insights, maintaining financial controls and ensuring compliance with accounting standards.

Key Responsibilities 1. Financial Accounting and General Ledger

• Maintain the integrity of the general ledger and financial accounting records.
• Prepare, process and/or review monthly journals, including:
  • Accruals and Provisions
  • Payroll journals
  • Depreciation journals
  • Prepayments
• Investigate and resolve general ledger discrepancies.
• Perform monthly balance sheet and income statement reconciliations.
• Ensure accounting records comply with IFRS and company policies.
• Review and analyse financial transactions for completeness and accuracy.

2. Month-End and Management Reporting

• Coordinate and manage the month-end close process.
• Prepare monthly flash reports.
• Prepare monthly financial reporting packs.
• Assist management with financial analysis.
• Ensure reporting deadlines are consistently achieved.

3. Payroll Administration (End-to-End Function) Employee Master Data Management

• Create and maintain employee payroll records.
• Process new employee onboarding information.
• Update employee salary, banking, tax, benefits, and personal information.
• Process terminations and final payments.

Payroll Processing

• Prepare and process monthly payroll accurately and within deadlines.
• Process:
  • Salaries
  • Leave payments
  • Bonuses and incentives
  • Deductions including retirement fund and medical aid contributions
• Review payroll calculations and reconciliations before payment release.
• Generate payroll reports and exception reports.

Payroll Reconciliations and Accounting

• Prepare payroll journals and post to SYSPRO.
• Reconcile:
  • Payroll control accounts
  • PAYE, UIF and SDL liabilities
  • Retirement fund contributions
  • Medical aid contributions
  • Leave and Bonus provisions

Statutory Payroll Compliance

• Prepare and submit EMP
  201 returns.
• Perform EMP
  501 bi-annual and annual reconciliations.
• Manage IRP5 and IT3(a) tax certificate submissions.
• Liaise with SARS regarding payroll tax matters.
• Prepare and submit all legislative payroll declarations (e.g. UIF declarations)

Payroll Reporting and Audit Support

• Provide payroll reports to management and HR.
• Prepare payroll schedules and reconciliations for audit review.

4. Accounts Payable and Accounts Receivable Accounts Payable

• Oversee creditor administration and supplier reconciliations.
• Review and approve supplier payments.

Accounts Receivable

• Monitor debtor balances and collections.
• Review debtor reconciliations.

5. Cashbook and Treasury Management

• Oversee cashbook processing and bank reconciliations.
• Prepare and maintain short- and medium-term cash flow forecasts.
• Manage treasury-related activities and banking relationships.

6. Intercompany Accounting

• Manage intercompany loan accounts and reconciliations.
• Reconcile intercompany balances monthly.

7. Fixed Assets Management

• Maintain the fixed asset register.
• Process additions, disposals, transfers, and write-offs.
• Conduct periodic asset verifications.
• Calculate and process depreciation.
• Ensure asset accounting complies with company policy and IFRS requirements.
• Assist with CAPEX tracking and reporting

8. Taxation and Statutory Compliance

• Prepare VAT
  201 submissions and reconciliations.
• Ensure accurate VAT accounting and reporting.
• Support tax audits and SARS queries.

9. Budgeting, Forecasting and Financial Planning

• Assist with annual budget preparation.
• Support quarterly forecast processes.
• Prepare budget variance reports for cost centre managers.

10. Audit and Internal Controls

• Prepare audit files and supporting schedules.
• Coordinate information requests from auditors.
• Support interim and year-end audits.
• Ensure implementation and maintenance of effective internal controls.

11. Leadership and Team Support

• Supervise and support finance administration staff.
• Assist the Financial Manager with ad hoc tasks.

Minimum Qualifications Experience

• Minimum 5-8 years’ experience in a financial accounting environment.
• Experience in FMCG, manufacturing, or multi-entity environments advantageous.
• Proven experience with:
  • Month-end and year-end reporting
  • Payroll administration
  • VAT and statutory compliance
  • Budgeting and forecasting
  • Fixed asset accounting
  • Audit preparation

Technical Skills

• ERP experience, specifically SYSPRO, advantageous.
• Payroll system experience, specifically SAGE
  300 People, advantageous.
• Financial reporting and analysis.
• Strong understanding of IFRS.
• SARS eFiling and statutory reporting experience.
• Strong analytical and problem-solving skills
• High attention to detail and accuracy
• Deadline-driven and results-oriented
• Integrity and ethical conduct
• Strong communication and interpersonal skills
• Ability to work independently and collaboratively
• Adaptability and…