Managing daily financial operations:
- Recording accounting entries: entering all daily financial transactions (expenses, sales, purchases) into books or accounting programs.
- Issuing and reviewing invoices: preparing customer invoices and reviewing supplier invoices to ensure their accuracy before payment
- Receipts and Payments Management: ** Follow up on incoming and outgoing cash flows, and ensure that receivables are collected and obligations are paid on time.
Reconciliations and financial control:
- Bank reconciliation: Matching book account balances with bank account statements on a periodic basis to address any discrepancies immediately
- Inventory and assets inventory: Participation in periodic inventory operations of the store and fixed assets and matching them with book entries
- Cost control: following up on operational expenses and comparing them with the approved estimated budget to reduce waste
Preparing reports and financial statements:
-Closing accounts: completing accounting operations at the end of each month or financial year (depreciation, inventory adjustments)
- Preparing basic statements: preparing the income statement (profits and losses), the balance sheet (financial position), and the cash flow statement
- Submitting reports to management: Preparing simplified financial reports that explain the company’s financial position and assist in future planning
Tax and legal compliance:
- Calculating and preparing tax returns: Calculating value-added tax ($VAT$), income tax, or other deductions according to the country’s legal system and preparing the returns for submission on the specified dates.
- Cooperating with the external auditor: preparing the required books and documents and facilitating the task of the certified public accountant (external auditor) during the annual audit.
