Accounting Officer is responsible for conducting bank reconciliation, Closing month-end account, breaking details for Balance Sheet, cooperating with BU and external auditors, and performing other tasks as assigned
Main Responsibilities
Bank Reconciliation
- Match AP and AR transactions with bank statements
- Escalate all outstanding transactions to and resolve issues with
- MGS Accounting AR team for deposits
- MGS Accounting AP team for payments
- Transfer to GL and make adjustments as necessary (e.g. bank charges, petty cash, returned salary)
Month-End Closing
Prepaid and accrued expenses
Record all pre-paid and accrued expenses into GL
- Allocate expenses by BU and post to GL
- Check variance by comparing Trial Balance for current month with previous month
- Resolve issues as necessary
Close P&L and Balance Sheet
- Obtain information from all MGS Accounting teams (e.g. Inventory, Fixed Asset, AP, AR, etc.) and BU (e.g. Sales team)
- Input statistical data (e.g. Number of shops opened/closed, staff movement etc.)
- Input recurring expenses and standard journals (e.g. audit fee, tax and license fee) into the system
- Generate final P&L and Balance Sheet
- Prepare document support for financial highlights (e.g. AR aging report)
Balance Sheet Breaking Details
- Review results of reconciliation with other modules to match with Trial Balance
- Reconcile bank statements with all other accrued expenses not in AP (e.g. audit fee, KPIs and bonuses)
- Feedback to originator if any issues identified
- Check for any mistakes and make adjustments as necessary