Came here wondering what the Senior Financial Accountant Job Description is? Let’s check it out.
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A senior financial accountant reports to the finance director and the GM. They are responsible for the hotel’s accounting and financial management requirements. Also, the manage the accounting department, procurement function and electronic data processing systems
Senior Financial Accountant Job Description – Duties and Responsibilities
- Responsible for daily weekly and monthly financial reports to include daily sales report for the General Manager and Executive management team/Directors. Constantly improve financial information and knowledge of the Executive management Team.
- Review current control procedures, devise, and implement relevant updates. Liaise with, advise and actively support departmental Managers in the planning, training and implementation of cost effective measures.
- Implement a purchase order system to control spending and provide accurate accruals for management accounts. Also, implement a live, up to date spend control mechanism which clearly reflects up to do date expenditures against budgets.
- Oversee the management of debtors ensuring the credit approval and collection policies of the hotel are being adhered to. Liaise with front office ensuring that payments are being collected promptly. Review the effectiveness of current debt collection processes and implement amendments. Report to GM on aged debtors on a regular basis.
- Produce monthly management accounts within the agreed reporting deadlines.
- Ensure that all balance sheets are kept up to date and reconciled.
- Prepare and monitor the annual operating budget of the hotel. Provide analyses and any suggested activities that need to be actioned to ensure that the budget is achieved.
- Manage time to complete all tasks in relation to the management of the accounts department whilst dealing with requests and queries by suppliers, colleagues, GM and MD.
- Prepare and analyse accurate and timely P&L reports.
- Prepare for external auditors ensuring that requirements are met within agreed deadlines.
- Oversee the running of the payroll system ensuring that all employee details, annual and sick leave, hours worked, tax, etc are correctly recorded and paid. Devise, train and implement an effective payroll forecasting system for each department, weekly analysis and control of payroll with Heads of Department.
- Manage and process payment of monthly staff.
- Oversee accounts payable ensuring that payments are accurate and paid within agreed credit terms.
- Ensure all statutory returns are made within pre-set deadlines.
- Maintain Inter-company accounts and ensure they are reconciled monthly.
- Manage and control the fiscal year end closing process.
- Prepare and review forecasts as agreed including before mentioned payroll, food and beverage margins and general expenses.
- Manage existing systems and develop new systems to ensure that costs are managed in line with the budget, ensuring that any cost variances are explained, evaluated, and actioned, as necessary.
- Responsible for training and development, conducting performance appraisals and managing performance of the accounts team.
- Carry out feasibility studies or projects that may be requested by the GM, from time to time.
- Meet with the MD as requested providing him with relevant financial information.
- Advise and support the GM of the Hotel as a senior member of the Executive Management Team.
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