Finance Trainee

Purpose of the role:

·      Support management accountant in ensuring all costs and revenue are recorded accurately and timely for IREIT and all its subsidiaries.

·      Ensure timely payment of suppliers to enable smooth running of the business, which will allow the business to maintain favourable credit terms.

·      Ensure all balance sheet and P &L accounts for I-REIT and all its subsidiaries are reconciled and supporting schedules updated

Responsibilities:

Accounts Payables and Payments

·      Posting invoices in the system by matching purchase order to goods receipt and the supplier invoice to ensure they are recorded accurately and timely in the system to allow accurate recording of costs

·      Posting petty cash expenditures, outward & inward bank payments, required journals.

Ensure all other cost other than invoices are recorded accurately e.g. IOUs, expenditure reimbursement, money in, reversals of payment.

·      Record all intercompany invoices and payments accurately in the system to allow a true intercompany credit reflection in the system and eventually the intercompany Ls to balance by posting intercompany transactions accurately i.e. Invoices, payments, journals.

·      Preparing payment proposal for supplier payment. Monthly or bimonthly generation of payment proposal to allow timely payment of suppliers to allow favorable credit terms between the entities and the suppliers especially utility bills e.g. KPLC, Nairobi water etc. to ensure no disruption of services

·      Preparing supplier reconciliations before payment and payment proposals are done and forwarding the same to Management Accountant on weekly basis

·      Ensure all invoices are supported by contract or Purchase orders before posting

General Accounting

·      Assist the management accountant in identifying monthly, quarterly or semi-annual costs that haven’t been invoiced to enable the posting of accruals to ensure accurate reporting of costs

·      Assist Treasury and Tax Accountant in filing Vat

·      Once bank reconciliation is complete assist the one responsible in making any adjustments necessary to allow the bank GL and Bank statement to reconcile.

·      Maintain an accurate and reliable prepayment schedule that amortizes cost over the appropriate period to allow accurate and steady recording of costs

·      Monthly analysis of customer payment data to allocate each payment to the appropriate property, thereafter, record the data in the system to allow a complete reporting of income.

·      Monthly calculation of the occupancy levels for all properties to allow a complete monthly P&Ls.

·      Ensuring all end month activities are completed accurately, in completeness and on time to allow timely reporting by the management accountant

Audit and controls

·      Support in external and internal audit and be an integral part in ensuring auditors obtain necessary information to allow a smooth audit process

·      Assisting in accruals by identifying monthly, quarterly or semi-annual costs that haven’t been invoiced to enable the posting of accruals to ensure accurate reporting of costs to avoid cost spikes

·      Ensure supplier reconciliations are done as before payment is processed

·      Once bank reconciliation is complete assist the one responsible in making any adjustments necessary to allow the bank GL and Bank statement to reconcile.

·      Ensure all invoices have been approved appropriately before recording it in the system either through purchase order or the budget holder approving the invoice

·      Ensure all invoices that require the withholding of tax be withheld and remitted to KRA upon payment to the supplier to ensure tax compliance

Supporting month end process

·      Prepare balance sheet accounts reconciliations and supporting schedules monthly to ensure the overall integrity of balance sheet balances.

·      Prepare supplier reconciliations to verify that the balances in the accounts payable records match the amounts reported by suppliers.

·      Prepare accrual and prepayment schedules to ensure that they provide reliable information on anticipated expenses and revenues and that amounts paid in advance are properly recorded and allocated to the correct accounting periods

·      Prepare the borrowings schedules to ensure that the details of loans, interest payments, and repayments are correctly reflected in the accounting system.

·      Check intercompany balances to ensure that transactions and balances between entities within the group are accurately recorded and consistent across the group’s financial statements.

·      Ensuring all end month activities are completed accurately, in completeness and on time to allow timely reporting by the management accountant