Job Description

The General Accounting Specialist is responsible for ensuring accurate and timely processing of financial transactions. This role involves reviewing all invoices for proper documentation and authorization prior to payment, identifying and resolving discrepancies in invoices and supporting documents, and maintaining accurate financial records. The specialist also plays a key role in monthly and annual financial closings, ensuring compliance with accounting standards and organizational policies.



KEY FUNCTIONS/DUTIES AND RESPONSIBILITIES

Payment Processing

• Review and evaluate disbursement-related transactions including those for employee reimbursements, goods, services, inventory, fixed assets, and importation for accuracy, completeness, and compliance with required documentation and approvals.

• Recommend payment of validated claims to employees, contractors, suppliers, and government agencies for final approval by the Accounting Manager and/or Controller.

• Reconcile subsidiary ledger (SL) and general ledger (GL) accounts related to accounts payable on at least quarterly basis, and investigate and document any discrepancies. Report findings to the Accounting Manager and/or Controller.

• Communicate directly with suppliers to resolve discrepancies between processed claims and supplier records, ensuring alignment and accuracy of financial data.

Monthly and Annual Financial Closing

• Prepare and post journal entries for monthly closing activities, including accruals, prepayment amortization, depreciation, intercompany transactions and revenue recognition.
• Conduct thorough reconciliation of key balance sheet accounts such as cash, accounts receivable, prepayments, accounts payable, and accrued expenses on a monthly basis to ensure accuracy and completeness.
• Maintain and reconcile the fixed assets register within SAP (as applicable), ensuring alignment with general ledger records.
• Assist in the preparation of timely and accurate monthly financial statements for both internal management use and external reporting requirements.

Other Tasks

• Recommend updates and improvements to accounting policies and procedures related to accounts payable and payment processing to enhance efficiency and compliance.

• Coordinate with both internal and external auditors during interim and year-end audits by providing necessary documents and explanations.

• Support the Tax Specialist and/or Tax Manager in addressing queries and preparing working papers for tax filings, including summary list of sales and purchases, and alphalist of payees.

• Assist in responding to audits conducted by regulatory agencies such as BIR and BOC by preparing and submitting required documentation and schedules.

• Participate in the year-end physical inventory counts across various sites to ensure accurate reporting and compliance.
• Perform other ad-hoc and administrative tasks as needed to support the Accounts Payable and Financial Reporting functions within the FDCUI Utilities Group.