General Ledger Specialist 2 Bank Reconciliation

Emerson Electric Asia Ltd. Rohq (Manila, Philippines) 5 days ago
DescriptionThe Specialist II, General Ledger is responsible for processing GL transactions for medium sized entities, including but not limited to cash receipts/ netting allocation, reconciliation, fixed asset transactions and invoicing, intercompany credit control, accruals, recharges, prepayments/amortization, other month-end activities, preparation of audit requirements mainly for Automation Solutions Middle East & Africa. He/She is required to apply appropriate internal controls in compliance to Corporate Policies and Procedure (CP&P) and Generally Accepted Accounting Principles (GAAP) mainly for Automation Solutions Middle East and Africa. Detailed Job Responsibilities Duty 1: Cash Application Extracts/receives bank statement from the banking website/ site point of contact Uploads the bank statement to the SharePoint or Sends the statement to the POC Updates the excel file of the bank transaction for the day Matches payment details against open invoices Coordinates any discrepancy with Credit Control/CFS/Customer (POC) Request details from point of contact for unidentified payment Applies payment received to open invoices Verifies completeness of the cash application/Consolidates applied invoices and notify the point of contact Validates data for consistency Analyze and provides input for exception items during cash application Develops and Implements error-proofing method to ensure all transactions are booked accurately Duty 2: Reporting and Reconciliation Bank Reconciliation Reconciles the bank and book transaction balance by verifying discrepancies, resolving disputes, formulating alternative solutions on issues encountered. Analyses and Classifies the reconciling items based on the nature of the transaction Drives implementation of recommended solution to the site POC, Credit Controller, Regional accountants and Payments team contact for aged reconciling items. (Deposit in transit, wrong payment to vendor, approval on adjusting entries from AP) Prepares and post the journal entry related to the identified reconciling items (bank charges, forex difference, cash pool transactions) Communicates with Site POC, Regional Accountants and Accounts payable contact any reconciling item in the bank reconciliation Escalates resolution of outstanding reconciling items based on escalation matrix if no responses on the POC is received Secures commitment on critical deliverables from different stakeholders such as customers, site finance heads and approver for issuance of credit/debit note to offset, approval of variance to pay, etc Audit Prepares and provide audit requirements to the site and auditors Duty 3: Settlement of Accounts Receivable Employee Balances Chases for the payment of aged balances on the AR employee account by sending monthly Statement of Account to the employee and HR of the balances for deduction Validates and Resolves minor disputes (ex. Incorrect charging to employee account or invoices from vendors), by recommending corrective actions to the appropriate site POCs Follow through resolution and deduction of the aged employee balances Escalates to the Regional Accountant or next level manager any non-responsive Accounts Payable Duty 4: Fixed Assets Adds the asset to the Fixed asset register and performs depreciation run Performs Fixed Asset (including CIP) reconciliation to determine the Assets for Addition (verify invoice match detail accuracy, supporting docs, validate date in use, GL and FA module, etc. Analyses the fixed asset clearing account to validate assets for additions Investigates and collates the required information (Appropriation request, asset details) before capitalization Drives implementation of recommended solution to the proper persons (Accounts payable, Business unit controllers or site POC) for items with incomplete details, or items not for asset addition Performs adjustments to the fixed asset register (transfers, reclassifications and retirements) Reviews, clarifies and evaluates information provided by the site POC (for transfers, reclassifications and retirements) to ensure that the action performed will achieve the desired result. Drives actions to the proper persons (Business unit controllers or site POC) for items over the Appropriation request budget Reconciles the Fixed asset ledger balance with the General ledger balance and resolves differences by verifying discrepancies, resolving disputes, formulating alternative solutions on issues encountered. Analyzes and Classifies the unposted items based on the nature of the transaction. Prepares and analyze monthly spend report for fixed assets by comparing budget allocated versus capitalized fixed asset Duty 5: Month-end Activities Prepaid Amortization Reconciles oracle against schedule Investigate and Collate details/information required to amortize the balance Recommends adjustment to the Site affecting Profit and Loss and instructs them to restate Balance Sheet Accruals Prepare schedule by downloading details and summary of balances, and reconcile against Oracle by matching details against Trial Balance Analyses recorded invoices to determine correctness and validity of the as-of balance and verify if additional recognition is required by considering the details of the period to date transactions via Accounts Payable module of General Ledger inquiry Recommends adjustment to the Site affecting Profit and Loss and instructs them to restate Balance Sheet Revaluation Verify reasonableness of the revaluation result through comparison with prior period results Sends the file to the Local and Site POC Accounts Receivable Trade Recon Reconciles the Accounts Receivable Trade balances in General Ledger (GL) against the Subsidiary Ledger (SL) and analyses difference through investigation of manual journal or non-AR related transactions posted in the GL Provides resolution and adjustment on the identified difference Balance Sheet and Profit and Loss Allocation Maintains tracker and databases to ensure that all transactions are recorded and verifies with the counterparts for further entries Run the auto allocation process and check the balances Investigates unallocated balances using comparative analysis Countercheck balances upon posting of the manual allocation Provide go signal to the Site/RA to proceed with their Financial upload Raise to Oracle team to set-up allocation for accounts that has no auto allocation set-up Journal Posting Prepares Journal Adjustments, Uploading and Posting to Oracle Ensure validity of supporting documents prior processing and completeness of saved supporting back-up in the designated repository Job Requirements Must be a bachelor's degree holder in Accountancy or any Accounting related degree Must have at least 3 years work experience in general accounting, bank reconciliation, fixed assets, cash receipts application, Intercompany transactions and credit collection or audit Must be amenable to work in Quezon City on a mid shift schedule.
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