REPORTING TO: GENERAL MANAGER

LEVEL: MANAGERIAL

DEPARTMENT: FINANCE

LOCATION: KAMPALA HEAD OFFICE

DUTIES AND RESPONSIBILITIES

• Income: Ensure prompt, accurate recording and classification of all income on the accounting system (TALLY); issue sales invoices for vatable sales and as requested; record remittances, electronic banking, and card payment receipts; and carry out the credit control function reporting Bad Debts (if any) to the Managing Director.
• Expenditure: Ensure appropriate approval is obtained for all purchases (with reference to preapproved budgets as appropriate) and for supplier invoices; check and pass all expense claims for approval, with due regard to expense claims policy; process on accounting system allocating to correct cost code; process approved supplier invoices and expense claims for payment in good time managing electronic payments process, ready for authorization by bank signatory; maintain hard copy records for all payments made.
• Payroll: Liaise with the HR office on a monthly basis to ensure approved updates to payroll information are processed in good time (joiners, leavers, deductions, pay adjustments, etc); carry salary review, processing, and arrange approval & and prepare payments of net salaries, payroll taxes, and other contributions owed in good time.
• Banking & Petty Cash: Bank all cheques and cash, withdraw and obtain currency when authorized; keep Petty Cash up to date at all times, ensuring receipts are provided for all expenditures and that vouchers are signed.
• VAT Return: process the quarterly VAT return using the accounting system reports with manual adjustments to reflect irrecoverable VAT amounts.
• Fixed Assets: maintain a register of fixed assets, capitalizing and depreciating on the accounting system in line with appropriate policy.
• Management Accounts: prepare monthly and quarterly management accounts on an accruals basis, highlighting variances with budget, for review by the Monthly Finance Meeting; provide other financial reports and updates to the Managing Director as requested.
• Annual Accounts: prepare year-end Trial Balance (TB), and process yearend adjustments on the accounting system, producing supporting schedules ready for Independent Examination; ensure financial returns are submitted in time to management and you will help prepare the Board's Annual Report liaising with the management as necessary.
• Annual Budget: prepare an annual budget liaise closely with the Managing Director and set up.
• Finance and budget review meetings: Organize monthly meetings, draft agendas, collate papers, communicate with departments, Minute taking, and follow up on actions. on the accounting system once approved to facilitate the management reporting.
• Workload management: effectively manage the financial workload to ensure work is delivered to agreed timelines and that plans are integrated with all staff activities and goals.
• Provide financial reports and interpret financial information to managerial staff while recommending further courses of action by reviewing financial reports and Preparing financial forecasts.
• Achieve a proper mix of equity and debt to minimize cost and maximize operational profit.
• Strategize on fund procurement through banks and other financial institutions.
• Provide financial insight and analysis to drive the business performance of the organization and prudently advise management to make investments in assets that maximize returns.
• Adhere to and stay abreast of recent developments in relevant accounting and tax standards.
• Manage debtor/creditor ledgers and ensure the accuracy of transaction reporting.
• Work closely with management on strategy, roadmap, and targets for the business, and advise on hiring decisions and market opportunities.
• Prepare monthly accruals, prepayments, and accounting entries.
• Develop external relationships with Auditors, Solicitors, Bankers, and Statutory Organizations.
• Drive continuous improvement of accounting practices.
• Manage and monitor metrics, KPI tracking, and reports.
• Evaluate the financial performance of the organization and measure returns on investments.
• Understand and calculate the risks involved in the financial activities of the organization.
• Plan, organize, and execute financial tasks and projects of the organization.
• Make estimates of funds required for the short and long-term financial objectives of the organization.
• Complete financial reports, lead the month-end closing process and conduct monthly financial forecasts.
• Analyze costs, pricing, variable contributions, sales results, and the company’s actual performance compared to the business plans.
• Develop trends and projections for the company’s finances.
• Conduct reviews and evaluations for cost-reduction opportunities.
• Oversee operations of the finance department, set goals and objectives, and design a framework for these to be met.
• Manage the preparation of the company’s budget.
• Liaise with auditors to ensure appropriate monitoring of company finances is maintained.
• Correspond with various other departments, discussing company plans and agreeing on future paths to be taken.
• Ensure proper business processes, administration, and financial management.
• Maintains accounting system.
• Lead planning and forecasting activities with business partners to achieve business and company goals.
• Monitor financial details to ensure legal compliance. Supervise the preparation of quarterly and annual account reconciliations, monitor and enforce compliance with tax and financial reporting standards, and assist with cash flow forecasting.
• Analyze revenue, expenses, cash flows, and balance sheets.
• Investigate means to improve profitability.
• Review and process payments of the company.
• Maintain an accurate filing and record-keeping system for all financial statements and company documents.
• Participate in the execution of changes to procedures, policies, and systems to facilitate expansion, compliance, and scaling of the business.
• Produce financial reports related to budgets, account payables, account receivables, expenses, etc.
• Develop strategies that work to minimize financial risk and analyze market trends and competitors.
• Oversee the operations and development of the company’s finance departments including creating and reviewing policies, budgeting, recruiting, training, and conducting regular assessments of financial procedures.
• Mediate between the organization, employees, stakeholders, shareholders, and investors on financial issues for amicable resolution of differences.
• Create strategic business plans based on the analysis of the company’s status and financial forecasts

ADDITIONAL REMARKS.

• Any other duties as may reasonably be expected and which are commensurate with the level of the post.

PREFERRED SKILLS AND QUALIFICATIONS

• The ability to turn complex data into understandable form.
• Thorough attention to detail.
• Commercial and business awareness.
• Time management skills and the ability to prioritize.
• Excellent communication and presentation skills.
• An analytical approach to work.
• Numeracy and technical skills.
• Negotiation skills, problem-solving and initiative.
• An investigative nature.
• Positive and approachable manner.
• A willingness to embrace new ideas and processes.
• The ability to develop your own skills and knowledge, work well under pressure, accept criticism, and be challenged on your advice.
• The capacity to make quick but rational decisions.
• Proficient I.T. skills.