Accounts Payable at Insignia Limited

Full Time Tanzania December 8, 2023 Finance Jobs

Job Overview

Accounts Payable at Insignia Limited

Insignia Limited

Job Title: Accounts Payable

Department: Finance

Reports To: Finance Controller

Duty Station: Dar es Salaam, Tanzania

Job Summary

The candidate will be involved in managing and processing financial transactions related to the company’s payable accounts. Your primary responsibilities will include reviewing and verifying invoices, ensuring accuracy and completeness of documentation, and obtaining necessary approvals for payment processing. You will also be responsible for reconciling vendor statements, resolving discrepancies, and maintaining accurate records of financial transactions. Additionally, you may assist in preparing financial reports, analyzing expense trends, and coordinating with internal teams and vendors to ensure timely and accurate payments. Attention to detail, strong organizational skills, and knowledge of accounting principles are crucial for this role.

Duties & Responsibilities

Manage import purchase function through coordination and preparation of rolling plan for the company importation and submit the same to management.
Follow up with suppliers/Customs/TRA/TBS etc., for status and speedy arrival of ordered material and to ensure non-incurrence of Storage Charges
Coordinate for Timely Payments of Assessment duties, Port Charges and Shipping line charges to speed up clearing process. Follow-up with Clearing & Forwarding Agent to ensure timely clearance of imported goods.
Follow up and ensure prompt recognition of import creditors liability in the books of accounts on date of receipt of material
Ensure all import supplier accounts balances are confirmed through accepted and signed SOAs for status as on preceding month closing date.
Updating of account entries pertaining to Import Expenses and ensure reconciliation of Provision for Import Exp. And C&F Agents accounts upon closure of each import file
Advise Accounts Manager to release timely payments to Import Creditors against L/C, Import Bills, Import
Finance Loan and Clearing Agents Bills after obtaining appropriate approvals and accounting of the same into SAP and ensure Import Creditors reconciliation is complete before releasing payment to Import Creditors
Timely preparation and presenting of MIS reports relating to import purchase function before agreed deadline to the management
Ensure compliance of statutory taxation laws before due date by compiling data and make timely and accurate submission of VAT returns and prepare purchase and VAT reconciliation against returns on monthly basis
Liaising with clearing agent to coordinate and ensure timely clearing of imported raw materials.
Coordinate and liaise with revenue and custom authorities regarding statutory issues and assessments pertaining to importation of materials and provide necessary information as guided by the management
Participate in all internal and external statutory auditors and provide them with necessary information as guided by the finance management
Comply with all Company policies and operational standards, including those in relation to health, safety, environment and community

Qualifications & Experience

Bachelor of Commerce in Accounts or related field from a reputable institution.
At least 5 years’ experience as an Accounts Payable
Manufacturing industry experience would be an advantage
Proficiency in Microsoft Office Suite (Word, Access, Excel, PowerPoint)
Member of a professional body

Competencies

Understanding of basic accounting principles, financial statements, and financial processes related to accounts payable
Proficiency in accurately processing and verifying invoices, including matching them with purchase orders and receipts, ensuring proper coding and documentation, and resolving discrepancies
Ability to effectively communicate and build relationships with vendors, negotiate payment terms, resolve payment issues, and maintain vendor records
Strong attention to detail and accuracy in entering financial data, such as invoice details, payment information, and vendor information, into accounting systems
Knowledge of relevant laws, regulations, and internal policies governing accounts payable processes, such as tax regulations, payment terms, and record-keeping requirements
Familiarity with accounting software and systems used for accounts payable functions, as well as proficiency in using spreadsheets and other tools for data analysis and reporting
Effective communication skills to interact with internal stakeholders, such as purchasing departments and finance teams, as well as external vendors, to resolve issues, clarify information, and ensure smooth payment processes
Ability to identify and resolve payment discrepancies, troubleshoot issues, analyze data for trends and insights, and propose process improvements to enhance efficiency and accuracy
Strong organizational skills to manage multiple invoices, prioritize tasks, meet payment deadlines, and maintain accurate records
Understanding the importance of maintaining the confidentiality of financial information and adhering to data protection and privacy policies

Interested candidates are requested to forward their updated CV’s ONLY to: [email protected] stating the subject heading Accounts Payable by Monday, 11th December 2023 clearly indicating their current and expected remuneration (MUST), daytime telephone contact and addresses of three referees.

Only shortlisted candidates will be contacted.