WHAT DOES AN ACCOUNT ASSISTANT DO?

Published: Nov 05, 2024 - The Account Assistant efficiently processes sales and purchase invoices, manages employee expenses, and coordinates weekly supplier payments. Ensures timely reconciliations of debtors, creditors, and bank accounts, supporting credit control and monthly processing deadlines. Assists in preparing cashflow and turnover reports, as well as payroll and pension processes, while maintaining strong collaborative relationships across the company.

A Review of Professional Skills and Functions for Account Assistant

1. Account Assistant Duties

  • Administrative Management: Handles day-to-day administrative work.
  • General Accounting Support: Performs general accounting duties as assigned by management.
  • Report and Invoice Filing: Prepares and maintains proper filing of reports and invoices.
  • Supplier Payment Processing: Processes supplier payments and expenses.
  • Phone Call Management: Assists in managing phone calls.
  • Accounts Management: Handles a wide range of accounts duties.
  • Payment Follow-Up: Follows up with customers for due payments.
  • Receivables Processing: Processes payments and chases outstanding receivables.
  • GST Reporting Assistance: Assists in quarterly GST reporting.
  • Purchase Order Matching: Performs matching of purchase orders, delivery orders, and supplier invoices.
  • Invoice Verification: Verifies supplier invoices for accuracy and goods receipts.
  • Inventory Entry: Enters goods receipts and handles inventory-related matters.
  • Purchase Order Generation: Generates purchase orders for the warranty category.
  • Stock Take Reporting: Prepares various stock take reports, including discrepancies, movement, and reconciliation.
  • Month-End and Year-End Assistance: Assists in month-end and year-end closing.
  • Reimbursement Processing: Processes reimbursement forms.
  • Expense Report Management: Creates and updates expense reports.

2. Account Assistant Details

  • CRM Maintenance: Maintains CRM system by updating and entering vendor, supplier, and customer information.
  • Sales File Processing: Processes and quality checks sales files; enters goods receipts, deliveries, sales invoices, and vendor/supplier invoices.
  • Accounts Management: Handles accounts payable and accounts receivable functions.
  • Credit Card Processing: Processes credit card statements and expense claims.
  • Office Supply Management: Manages stationery and consumable orders and maintains office equipment.
  • Visitor Reception: Greets and directs visitors and answers/directs calls.
  • Package Handling: Manages incoming and outgoing packages or deliveries.
  • Mail and Filing: Handles filing, archiving, and processing and directing mail.
  • Safety Documentation Management: Manages Occupational Safety and Health documentation.
  • Accounting Support: Provides support to the Accounting Department.
  • Basic Office Tasks: Performs basic office tasks, such as filing, data entry, and answering phones.
  • Voucher and Order Preparation: Prepares payment vouchers, purchase orders, cash book entries, etc.
  • Expense Processing: Processes expense requests for accountant approval, including supplier payments and utilities.
  • Documentation Updates: Updates and maintains procedural documentation.
  • Cash Transaction Recording: Records and files cash transactions.
  • Supplier Liaison: Liaises with third-party providers and suppliers.
  • Payment Accuracy: Ensures payments, amounts, and records are correct.

3. Account Assistant Responsibilities

  • Balance Sheet Reconciliation: Ensures the balance sheet is accurate and reconciled.
  • Customer Reporting: Handles customer commercial reporting and analysis.
  • Management Accounts Assistance: Assists with the preparation of monthly management accounts.
  • Journal Processing: Prepares and processes journals.
  • Receivables Reconciliation: Manages accounts receivable reconciliation and debt recovery.
  • Payables Reconciliation: Reconciles accounts payable and processes supplier invoices.
  • Customer Query Management: Monitors the accounts email address and answers customer queries.
  • Full Set Accounts Management: Handles full set accounts and month-end financial reporting.
  • Schedule and Report Preparation: Prepares accounts schedules and management reports.
  • Accounts Management: Manages accounts payable and accounts receivable.
  • Month-End Reconciliation: Prepares and reviews month-end balance sheet reconciliation, bank reconciliation, and supporting schedules.
  • GST and Tax Preparation: Prepares quarterly GST submissions and income tax schedules.
  • Query Response: Attends to internal and external queries and requests.
  • Product Knowledge: Keeps up to date with client products and services.
  • Customer Consultation: Consults with customers to complete needs assessments and recommend products/services.
  • Customer Acquisition: Generates new customer acquisition.
  • Campaign Collaboration: Interacts with the sales and marketing management team on campaigns.
  • Marketing Promotion Execution: Executes in-store marketing promotions with a high level of customer service.

4. Account Assistant Accountabilities

  • Accounts Assistance: Assists with accounts payable and accounts receivable.
  • Purchase Order Preparation: Prepares non-inventory purchase order requisitions.
  • Invoice Attachment: Attaches purchase orders to incoming invoices with supporting documents.
  • Data Entry Accuracy: Enters incoming invoices accurately.
  • Invoice Generation: Generates invoices from the system and checks for accuracy before sending them to clients.
  • Payment Application: Applies client payments correctly to the system.
  • Issue Resolution: Investigates, researches, and resolves issues with incoming and outgoing invoices.
  • Batch Payment Preparation: Prepares batch payment runs and other relevant transactions.
  • Monthly Reporting Support: Assists in monthly status reporting and monthly closings.
  • Account Enquiry Resolution: Receives and resolves routine internal and external enquiries regarding account status, communicating inconsistencies to the appropriate person.
  • Finance Team Contribution: Contributes to the overall success of the finance team.
  • Payment Verification: Processes and verifies payments, invoices, purchase orders, and delivery orders.
  • Discrepancy Follow-Up: Follows up on discrepancies with vendors, suppliers, and internal customers.
  • Inventory Recording: Records inventory transactions in the system.
  • Asset and Inventory Assistance: Assists in asset transactions and inventory processes in the system.

5. Account Assistant Functions

  • Cash Reconciliation: Reconciles weekly restaurant cash-ups.
  • Invoice Management: Ensures creditor invoices are authorized and accurately entered into the financial system in a timely manner.
  • EFT File Management: Uploads EFT files into the banking software system and reviews them for accuracy.
  • Account Reconciliation: Maintains bank and credit card accounts, ensuring entries are processed and reconciled efficiently.
  • Deposit and Voucher Management: Maintains deposit and gift voucher records, processing and reconciling entries in a timely manner.
  • Trial Balance Reconciliation: Reconciles creditors' trial balance and general ledger monthly.
  • Management Accounts Preparation: Prepares management accounts, including the balance sheet and P&L.
  • P&L Analysis Reporting: Prepares weekly and monthly P&L analysis reports, providing insights on sales and direct costs.
  • Budgeting and Forecasting: Prepares budget, forecast, and cash flow reports.
  • Year-End Accounts Preparation: Prepares year-end statutory accounts, workpapers, and tax reconciliations for external accountants/tax agents.
  • Employee Data Maintenance: Maintains employee master file details in a timely and confidential manner.
  • Payroll Preparation: Prepares payroll based on employee contracts and authorized timesheet/leave adjustments.
  • Payroll Tax Returns: Prepares payroll tax returns, including annual reconciliations.
  • Subsidy Claims: Assists in ensuring all available government subsidies are being claimed.
  • Tenant Revenue Reporting: Assists with tenant revenue reporting to landlords for each restaurant.
  • Internal Controls Maintenance: Maintains internal control systems.
  • Banking Relationship Management: Liaises with financial institutions and brokers to establish funds management arrangements and maintain banking relationships.

6. Account Assistant Job Description

  • Product Upselling: Responsible for upselling, cross-selling, and new product introductions.
  • Record Maintenance: Ensures accounting records are maintained per accounting standards and company policy.
  • Cash Book Management: Maintains cash book, credit/debit note listing, and summary, updates receipts.
  • Transaction Posting: Posts sales and purchase transactions, prepares listings for goods received confirmation from Intercompany.
  • Intercompany Reconciliation: Conducts monthly intercompany transactions and balance sheet reconciliation.
  • Financial Reporting: Provides accurate and timely financial and management information and analysis, including weekly sales reporting, monthly management reports, payment list, and collection reports.
  • Audit Liaison: Liaises with internal and external auditors at half-year and year-end, as well as international banks.
  • Forecasting and Budget Support: Supports the finance team with quarterly forecasting and annual budget.
  • Ad Hoc Financial Support: Assists the finance team in other ad hoc tasks.
  • Professional Development: Develops professional expertise.
  • Management Skill Development: Works with coaches to further develop management and leadership skills.
  • System Implementation: Introduces and maintains accounting systems, advises on selecting and applying computer-based systems, such as accounts payable automation and approval systems.
  • Corporate Record Maintenance: Maintains corporate secretarial records.
  • Accounts Receivable Management: Responsible for the Accounts Receivable functions.
  • Daily Reconciliation: Performs daily reconciliation of accounts.
  • Month-End Support: Supports month-end processes.
  • Accounts Payable Support: Assists with the Accounts Payable functions.

7. Account Assistant Overview

  • Cost Recharging: Recharging contractor costs through to clients.
  • Timesheet and Expense Processing: Processing timesheets and expenses.
  • Supplier Payment Management: Managing supplier payments of time and expenses.
  • Stakeholder Communication: Regular communication with both contractors and internal stakeholders.
  • Data Tracking: Assists with tracking master data changes through the Company's CRM system (Bullhorn).
  • Team Coverage: Provides cover for other Finance team members.
  • Accounts Payable Support: Supports the day-to-day accounts payable process, including reviewing all invoices for appropriate documentation and approval before payment.
  • Expense Reporting: Prepares general and administrative expense reporting and analysis.
  • Transaction Posting: Posts accruals, prepayments, capital and share-based compensation transactions, and intercompany allocations.
  • Intercompany Reconciliation: Reconciles period-end intercompany balances, initiates invoicing, and settles intercompany balances.
  • IT Initiative Support: Provides support to relevant IT initiatives and systems projects, as appropriate.
  • Payment Initiation: Initiates payments via the electronic banking system and prepares bank reconciliations.
  • Financial Reporting: Assists in monthly, quarterly, and year-end financial reporting and audit processes, including responding to auditor inquiries.
  • Process Improvement: Identifies and assists with the implementation of process improvements.
  • Staff Support: Liaises with and supports the support staff and wider business.
  • Problem Solving: Resolves complex accounts issues.
  • Professional Support: Provides a high level of professional, punctual, efficient, and effective support to the Finance team.

8. Account Assistant Details and Accountabilities

  • Invoice Verification: Check invoices prepared by project department.
  • Standard Invoice Preparation: Prepare standard invoices on monthly basis.
  • Credit Note Issuance: Prepare credit notes after receipt of memo from respective department.
  • Statement Dispatch: Prepare and send statements of account to customers.
  • Receipt Banking: Ensure prompt banking of receipts.
  • Invoice Matching and Coding: Ensure all vendors’ invoices are properly matched and coded.
  • Payment Processing: Ensure all payments are properly carried out.
  • Supplier Communication: Handle queries from suppliers and reconcile balances.
  • Bank Reconciliation: Prepare monthly bank reconciliation.
  • Petty Cash Reimbursement: Check and reimburse petty cash.
  • Document Coding: Ensure proper coding of documents for data entry.
  • Document Filing and Data Entry: Filing of documents and data entry of accounting documents.
  • Insolvency Documentation: Managing and Preparing Insolvency Documents
  • Staff Liaison: Liaising with staff for work co-ordination
  • Financial Statement Reconciliation: Reconciliation of financial statements

9. Account Assistant Tasks

  • Work Processing: Receives sorted and separated work from the Night Auditor, night reception, and banqueting and sales departments.
  • System Proficiency: Processes information in the Opera system.
  • Invoice Management: Books invoices in the accounting system and monitors approvals.
  • Invoice Preparation: Prepares and finalizes outgoing invoices.
  • Payment Processing: Processes credit cards, travel agent commissions, and incoming payments.
  • Credit Approval: Approves credit facilities for companies and individuals with the approval of the Director of Finance and Business Support.
  • Guest Service Standards: Consistently provides and maintains the highest standard of guest care and service.
  • Debt Collection: Ensures to chase outstanding debts with clients.
  • Accurate Payment Allocation: Processes incoming payments on the same day to the correct account and invoice number.
  • Commission Handling: Prepares and proceeds with commission payments.
  • Debt Reporting: Keeps the Financial Accountant/Financial Controller updated with a weekly aged debtors report.
  • Complaint Resolution: Handles complaints or problems promptly and ensures that all resolved/unresolved incidents are reported to the Financial Accountant.
  • Policy Adherence: Adheres at all times to all company, hotel, and statutory rules, regulations, and policies.
  • Team Collaboration: Cooperates and communicates with colleagues, supervisors, and management to ensure effective departmental teamwork and high morale.
  • Training and Development: Attends meetings, training sessions, or courses that may be beneficial.
  • Workplace Cleanliness: Ensures that the working area is kept clean and tidy at all times.
  • Safety Reporting: Reports immediately to the Financial Controller or deputy anything considered a health and safety hazard.
  • Professional Appearance: Maintains appropriate standards of dress, hygiene, uniforms, appearance, posture, and conduct.

10. Account Assistant Roles

  • Invoice Processing: Process all sales and purchase invoices and ensure they are properly completed
  • Expense Management: Process employee and board mentor expenses
  • Payment Processing: Process weekly supplier payments of all authorised purchase invoices by BACS
  • Query Resolution: Process and resolve all supplier & creditor enquiries
  • Balance Reconciliation: Reconcile debtors and creditors balance on weekly basis
  • Bank Reconciliation: Process bank reconciliation and reconciliation of other control accounts
  • Credit Control: Ensure payments are received on time and chase up where necessary for credit control process
  • Account Reconciliation: Undertake account reconciliations
  • Deadline Management: Ensure monthly processing deadlines are met
  • Report Preparation Support: Support preparation of weekly turnover and cashflow report
  • Payroll Support: Support preparation of payroll and pension administration process
  • Relationship Management: Establish effective working relationships and work in a proactive and collaborative manner across the company.
  • Administrative Support: Provide general administrative support to Accounts Team.
  • Regulatory Compliance: Keep abreast of changes in financial regulations and legislation
  • Project Involvement: Work on ad-hoc projects as needed to meet the changing business environment
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