JOB DESCRIPTION
Accounts Receivable
 
  • Maintain customer files and records

  • Conduct credit checks on all customers and manage limits

  • Enter customers purchase orders

  • Generate and issue invoices promptly 

  • Ensure timely collections and accurate allocation

  • Generate, review and reconcile aging schedule to the general ledger

  • Monitor customer accounts for non or delayed payments

  • Research/resolve payment discrepancies and problems with chargeback/markdown/discounts 

  • Process adjustments, credit card /online receipts, wire transfers

  • Prepare miscellaneous A/R reports

  • Review GST/HST allocations where applicable  

Accounts Payable
 
  • Maintain vendor files and records

  • Prior to processing, identify errors/discrepancies with account coding

  • Match invoices to purchase order where applicable

  • Validate sales tax where applicable 

  • Review approvals and enter invoices in accordance with company policies and deadlines

  • Monitor accounts to highlight delayed payments

  • Prepare and send monthly statements

  • Correspond with vendors to resolve invoice discrepancies and issues

  • Process adjustments, credit card billings and online payments 

  • Review code and process general billings and employee reimbursements

Cash Management
 
  • Develop knowledge of cash management process and techniques

  • Follow standard procedures to improve efficiency in cash collections, funds transfer and cash disbursements; prepare bank reconciliation and investigate discrepancies

  • Predict cash requirements and cash positions by analyzing budgeting needs and financial reports

  • Manage incoming and outgoing cash or a daily basis

  • Receive /process incoming and outgoing wire transfer

  • Maintain the petty cash fund using prescribed internal control procedures

  • Prepare cheques, payments and bank deposits

  • Provide data and create journal entries relating to cash management activities

  • Ensure enough cash is available to pay bills as they come due

  • Recommend investment of excess cash

  • Liaise with banks to resolve account issues 

  • Conduct regular bank and credit card reconciliations

  • Maintain internal controls for payments and collections to prevent theft or fraud

  • Maintain security and confidentiality of financial records

Asset Management
 

   FIXED ASSETS:

 

  • Record fixed assets (tangible and intangible)

  • Prepare journal entries for disposals and impairments

  • Calculate depreciation and amortization for all fixed assets using applicable methods

  • Review and update the detailed schedule of fixed assets and accumulated depreciation

  • Reconcile the fixed asset subsidiary ledger to the general ledger control account

  • Investigate the potential obsolescence of fixed assets

  • Conduct periodic physical counts of fixed assets

  • Recommend to management whether fixed assets should be disposed of

  • Prepare audit schedules relating to fixed assets and assist the auditors in their inquiries

  • Track expenditures for fixed assets in comparison to capital budgets

 

   INVENTORY:

 

  • Maintain policies and procedures related to internal control of inventory

  • Assist in physical inventory count and record adjustments to inventory balance

  • Reconcile the inventory count to the general ledger

  • Assist in receiving, handling and managing inventory in a timely manner

  • Prepare month end journal entries relating to inventory movement

  • Ensure accuracy of monthly inventory levels within a perpetual system

  • Prepare account analyses and review margin reports in regards to cost and profitability

  • Decrease shrinkage by researching inventory discrepancies

Payroll
 
  • Maintain and update employee records in database

  • Determine if a worker is an employee or self-employed contractor

  • Identify and administer statutory legal, company compulsory and voluntary payroll deductions

  • Calculate payroll earnings and deduction for employees (hourly and salary)

  • Prepare CPP/EI/tax remittances 

  • Identify taxable benefits, allowances and the impact on payroll withholdings

  • Demonstrate an understanding of basic payroll computerized systems

  • Prepare a payroll register and payroll journal entries

  • Prepare a record of employment and demonstrate knowledge of filing requirements

  • Prepare year-end reporting of all payroll information returns for CRA

  • Process workers compensation premiums, health tax payments

  • Prepare proper forms when employment is terminated 

Other
 
  • Maintain systems and controls to verify the integrity of all systems and improve the effectiveness and efficiency of control and processes

  • Prepare accurate financial statements including Profit/Loss, Balance Sheet, Cash Flow

  • Compare current and prior year financial statements to identify significant changes

  • Prepare variances to budget, cash forecast, breakeven analysis

  • Assist in preparation of budgets and forecasts for management

  • Analyze, interpret and communicate revenue and expense variances; suggest improvements

  • Identify areas for cost reduction and efficiency

  • Maintain statistical reports for management use

  • Comply with federal, provincial and municipal tax requirements

  • Prepare applicable business and tax forms 

  • Reconcile balance sheet accounts; prepare monthly reports and journal entries as needed

  • Prepare year-end and adjusting and closing entries

  • Prepare financial reports by collecting/analysing/summarizing account information and trends

  • Handle all audit requests and prepare documentation

Address

P.O. Box 963

31 Adelaide St. E.

Toronto, ON, M5C 2K3

Contact

Email:  info@cibcb.com

Phone:  (416) 925-9420

Fax:  (416) 929-8815

©2019 CIB

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