WHAT DOES AN ACCOUNTING SUPERVISOR DO?

Published: Nov 01, 2024 - The Accounting Supervisor implements and monitors compliance with the Sarbanes-Oxley Act and corporate policies while overseeing accounting operations and risk analysis for the Foundry Division. This position leads the accounting team through month-end closures, ensuring timely submission to corporate and analyzing financial variances to maintain report accuracy. This role facilitates internal and external audits, manages monthly account reconciliations, and supports the implementation of new accounting software and procedures.

A Review of Professional Skills and Functions for Accounting Supervisor

1. Accounting Supervisor Duties

  • Staff Supervision: Supervise the Travel and Expense department staff and activities, including effective hiring, training, mentoring, and coaching.
  • Performance Management: Develop and evaluate employees’ performance and workload.
  • Prioritization and Delivery: Determine work priorities and ensure timely and accurate completion of deliverables.
  • Financial Management: Perform monthly journal entries and account reconciliations for T&E-related accounts.
  • Transaction Processing: Review, approve, and process high-volume T&E transactions weekly in Concur.
  • Employee Support: Provide support for T&E and Accounts Payable transaction-related questions.
  • Expense Auditing and Compliance: Work daily in web-based T&E management tool (Concur) to audit and process expense reports, ensuring compliance and providing ongoing support and training to all employees.
  • Data Analysis and Reporting: Analyze travel data and provide travel and expense reports to managers, along with cost-saving recommendations to managers and the Executive Team.
  • Travel Coordination: Assist employees with the travel booking tool and act as a liaison between the company and TMC.
  • Communication and Updates: Provide Travel and Expense updates to employees.
  • Corporate Card Administration: Administer corporate card programs, including ordering and canceling cards, monitoring credit limits, and providing support and training to employees.
  • Bank Coordination: Work with the bank on continued improvement or to resolve issues on card programs.
  • Project Management: Serve as the project lead on globalizing the Travel and Expense program.

2. Accounting Supervisor Details

  • Compliance Implementation: Implement, monitor, and ensure compliance with Sarbanes-Oxley as well as corporate policies and procedures.
  • Risk Analysis: Analyze and report existing or potential accounting and tax risks in company operations.
  • Software Implementation Support: Demonstrate motivation and interest in supporting the business in the implementation of new accounting software.
  • Relationship Building: Ability to establish and maintain effective working relationships.
  • Financial Records Preparation: Assist in the preparation of financial records in accordance with local accounting methodology and company policies within the financial accounting software - AS400.
  • Division Accounting Oversight: Oversee Foundry Division Accounting, including review of cost accounting and manufacturing expense activities.
  • Month-End Close Leadership: Lead the accounting team in month-end close and submit results to corporate on a timely basis.
  • Financial Analysis: Analyze variations in each period’s financial results to ensure completeness and accuracy of reporting.
  • Audit Support: Assist in internal and external audits, providing all necessary clarifications.
  • Control Monitoring: Implement and monitor controls to ensure compliance with corporate policies.
  • Account Reconciliation: Perform monthly reconciliation of accounts.
  • Fixed Asset Management: Help control the company's fixed assets.
  • Account Assignment and Support: Perform account assignment and provide support and assistance to other areas.

3. Accounting Supervisor Responsibilities

  • Safety and Compliance: Adhere to and sponsor safety and environmental rules and procedures.
  • AP and Payroll Oversight: Provide oversight of Accounts Payable and Payroll functions, including development of internal controls and processes.
  • Staff Supervision: Supervise all Accounts Payable and Payroll staff.
  • Financial Reporting: Participate in the preparation and review of Red Dog monthly, quarterly, and annual financial information.
  • Cost Reporting Management: Maintain and continually review cost reporting systems in Red Dog Operations to ensure timeliness, accuracy, and appropriateness.
  • Bank Transaction Management: Maintain, log any required entries, and continually review daily bank transactions for multiple accounts, including entries related to the monthly reconciliation of these bank accounts in the general ledger.
  • Accrual and Account Reconciliation: Prepare and analyze monthly accruals and various general ledger account reconciliations.
  • Installation Review: Perform as-builts of any new installations.
  • Billing Preparation: Prepare monthly statements and billings for special programs and grants.
  • Accounting Software Maintenance: Maintain accounting software, including setting up new accounts, maintaining users, troubleshooting, and closing out year-end.
  • Budget Preparation: Prepare annual and mid-year budgets.
  • Report Preparation: Assist in the preparation of UDS reports, cost reports, and compliance reports.
  • Audit Preparation and Support: Prepare all audit-related materials and schedules for the audit, act as the point for all auditor-requested information, and ensure that all work performed by staff meets audit requirements.

4. Accounting Supervisor Job Summary

  • Team Supervision: Supervising 8 accounting resources in Argentina (Buenos Aires), plus Genpact resources.
  • Financial Reporting: Responsible for delivering all financial reports of the company on time.
  • Month-End Coordination: Responsible for coordinating accounting items for the month.
  • Cash Flow Management: Manage the company's cash flow in an organized manner, prioritizing operational needs.
  • Accounting Analysis: Conduct accounting analysis of accounts receivable, accounts payable, and profit and loss.
  • Insurance Management: Keep property, furniture, and equipment insurance up to date.
  • Compliance with Regulations: Responsible for the application and standardization of tax code, social security law, labor law, among others.
  • Process Management: Apply administrative processes in an orderly manner to achieve objectives.
  • Financial Information Provision: Provide accounting and financial information to show the company’s results.
  • Regulation Updates: Maintain updated accounting regulations applicable to the company.
  • Regulatory Relationships: Manage relationships with AFIP, external and internal audits, Genpact, and other local and external regulators.
  • Document Authorization: Responsible for signing the financial statement, tax return, IATA reports, and others.
  • Technical Expertise Application: Apply thorough technical knowledge and experience to organizational systems and practices, exercising accurate judgment to meet specialized needs.
  • Work Assignment and Review: Make work assignments, and schedules, and review work in progress.
  • Procedure Modification: Recommend modifications to standard functional procedures.

5. Accounting Supervisor Accountabilities

  • Client Billing Management: Leading all aspects of client billings based on contracts, reconciling issues, and following up with customers on past due invoices, accruals, and submissions to clients.
  • Project Accounting Supervision: Supervise monthly project accounting efforts, including status meetings with project managers, project setup, and updates across financial trackers.
  • Intercompany Transactions Oversight: Oversee intercompany and BU transactions, ensuring compliance with client contracts for project revenues and expenses.
  • Issue Resolution and Compliance: Identify and address potential issues to ensure proper accounting and revenue recognition in accordance with GAAP.
  • Client Business Development Coordination: Coordinate client business development opportunities in Salesforce, ensuring accuracy in internal schedules, financial trackers, and project financials, including billing roles/rates and adjustments.
  • Financial Reporting: Manage financial reports, including project hours, expenses, and business unit SG&A expenses.
  • Credit Card Reconciliation: Handle corporate credit card bookings and monthly reconciliations, ensuring accuracy and alignment with proper billable project codes and vendor cost trackers.
  • Finance Collaboration: Collaborate with finance department leads to support overall department goals and objectives.
  • Staff Development and Mentorship: Coach, mentor, and develop staff to meet productivity, quality, continuous improvement, and goal accomplishment standards.
  • Complex Transaction Analysis: Participate in determining the proper accounting treatment of complex or unusual transactions, including troubleshooting and decision-making.
  • GAAP and SOX Compliance: Ensure that accounting activities are performed according to GAAP, SOX, and other accounting practices and compliances.
  • Documentation Assurance: Ensure adequate documentation and support of transactions and reports.
  • Report Preparation and Approval: Supervise the preparation of and approval of financial reports.
  • Team Management and Development: Manage, motivate, and develop staff, review and assess performance, support skill development, and enable employees to optimize contributions to the department.
  • Performance Management: Provide performance management, coaching, and career development for team members.

6. Accounting Supervisor Functions

  • Customer Holds and Collections: Manages customer holds and collections for assigned accounts.
  • Account Reconciliation: Coordinates with OTC team and site administration to resolve open items on customer accounts.
  • Project Assistance: Assist the OTC manager on OTC projects.
  • Customer Account Setup: Manages the process for new customer account setups, customer tax exemptions, and tax software.
  • Team Support: Provides support to commercial and operational teams on customer-related topics.
  • Credit Review Management: Manages annual customer credit reviews for key accounts.
  • Credit and Collection Oversight: Responsible for any additional aspects of the credit and collection process as directed by the OTC Manager.
  • Data Compilation: Compiles data, reports, and relevant information for monthly, quarterly, and annual closings.
  • Cross-Training: Crosstrains and serves as backup for accounting supervisors within the OTC team.
  • Inventory Coordination: Coordinate and participate in annual inventory counts.
  • Issue Resolution: Provide proactive support to local business management to resolve escalated issues with associates and internal or external customers.
  • Agency Liaison: Visits banks, government agencies, and other agencies as needed.
  • Legal Documentation Processing: Assists with processing and updating any legal documentation.
  • Administrative Support: Prepares correspondence, presentations, and reports, and provides general administrative support to local business management.
  • Travel Booking Assistance: Provides support for both domestic and international travel bookings.

7. Accounting Supervisor Job Description

  • Expense Report Review: Review expense reports before accounting processing.
  • Financial Metrics Preparation: Support the business management team in preparing financial and operating metrics.
  • Budget and Forecast Support: Assist the business management team in budget and forecast preparation.
  • Variance Analysis: Calculate variances from the budget and report significant issues to management.
  • Financial Input for Investments: Provide financial and accounting input for capital investments, pricing decisions, and contract negotiations.
  • Audit Coordination: Coordinate the statutory annual audit with external auditors.
  • Audit Documentation Preparation: Prepare support documentation for sample requests.
  • Currency Reporting: Prepare Guyana Currency Statutory Trial Balance for reporting.
  • Regulatory Compliance: Comply with local, state, and federal government reporting requirements and tax filings.
  • VAT and WHT Submissions: Prepare or review (if outsourced) monthly VAT and WHT submissions.
  • GRA Submissions: Prepare or review (if outsourced) monthly GRA submissions.
  • Payroll Tax Compliance: Prepare or review (if outsourced) monthly payroll tax and employee social security benefits.
  • Corporate Tax Management: Handle annual corporate income tax submission and payment.
  • Debt Payment Management: Ensure timely debt payments

8. Accounting Supervisor Overview

  • Finance Contact and Coordination: Serve as the main contact for all finance matters and drive vendor approval and master data coordination efforts.
  • Aging Report and DPO Analysis: Update the Aging report and perform DPO analysis.
  • Payroll Processing and Review: Ensure payroll is processed on time and review payroll accounting.
  • Order Management Support: Support the Order Management process (for chemical requests) in the short and mid-term.
  • Material Requisition Collection: Collect Material Requisitions (MR) from offshore technicians.
  • Sales Order Placement: Place sales orders on SAP based on Material Requisitions.
  • Revenue Tracking: Maintain a record tracker of MRs vs. SAP SO / Invoices to ensure revenue is recognized timely.
  • Order Issuance for Customer Billing: Issue manpower, service, and recharge orders for customer billing.
  • Recharge Information Collection: Collect all rechargeable information.
  • Accounts Receivable Management: Ensure that accounts receivables are collected promptly.
  • Customer Follow-up: Interface with customers, follow up on aged items, and address potential payment issues.
  • Invoice Preparation: Prepare invoice packages for customer submission, compiling all support documentation in line with contracts.
  • DSO Analysis and Bad Debt Review: Update the Aging report, perform DSO analysis, and review potential bad debt.

9. Accounting Supervisor Details and Accountabilities

  • Transaction Oversight: Oversee daily transactions, including accounts payable/receivable, general ledger, and bank reconciliations.
  • Reporting Assistance: Assist team members in preparing monthly and quarterly accounting and management reports.
  • Month-End and Year-End Management: Manage month-end and year-end closing processes.
  • Tax and Payroll Participation: Participate in tax audits and payroll activities.
  • Account Reconciliation: Perform reconciliations of general ledger accounts.
  • Financial Analysis: Analyze financial statements to ensure accuracy and compliance with IFRS.
  • Tax Compliance: Accurately prepare tax returns and ensure timely payment of company taxes.
  • Regulatory Compliance: Ensure company compliance with accounting and government legislation.
  • Team Supervision: Supervise and provide overall guidance to team members.
  • Office System Organization: Organize and maintain office systems, including filing, ordering supplies, and equipment upkeep.
  • Procedure Adherence: Follow all bookkeeping and supervisor procedures and guidelines set by management.
  • Timely Accounting Completion: Ensure timely completion of daily, weekly, and monthly activities for Revenue, A/R, Inter-company, Investment/Equity, Lease, and Gift card accounting, including month-end journal entries and reconciliations.
  • Wholesale Accounting Supervision: Supervise the accounting team supporting Wholesale business, including credit, collections, rebates, commissions, and customer accounts, coordinating and planning work to meet demands.
  • Report Development: Develop, update, and publish Wholesale Customer Account reports as requested for management use.
  • Process Improvement: Recommend process improvements and coordinate clerical staff activities to meet urgent requests.

10. Accounting Supervisor Tasks

  • Staff Training and Compliance: Ensure all facility staff are trained properly and adhere to accounting policies and procedures.
  • Procedure Review: Periodically review procedures to ensure proper compliance and functionality.
  • Monthly Close Management: Perform monthly close activities, including all reconciliation and review tasks.
  • Financial Deadline Adherence: Ensure all financial deadlines for Accounts Receivable, Inventory, Payroll, Month-End Closing, Internal and External Audit Requests, and Fixed Assets are met.
  • Journal Entry Preparation: Prepare journal entries to record accruals and inventory.
  • Account Reconciliation: Prepare account reconciliations and ensure appropriate back-up for all journal entries.
  • Accrual Calculation and Review: Calculate or review all accruals for accuracy, ensuring appropriate backup.
  • Cost Calculation and Compliance: Perform and review cost-to-complete calculations, ensuring compliance with SOX controls over the cost of goods sold and inventory at month-end close.
  • SOX Compliance: Ensure Sarbanes-Oxley (SOX) internal controls are correctly followed.
  • Audit Coordination: Coordinate SOX and financial audit testing at the facility.
  • Audit Testing Documentation: Ensure audit tests are performed timely, and documented accurately, and exceptions are resolved by adjusting procedures for future compliance.
  • Issue Reporting: Alert plant management and accounting staff of critical issues or weaknesses.
  • Hazardous Waste Management: Responsible for the proper handling and management of hazardous waste generated in the work area.
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