1. Accounts Payable (AP)
- Manage and verify purchase invoices and receipts from vendors
- Record purchases of goods or services in the accounting system
- Verify the accuracy of accounting documents such as purchase orders and goods receipts
- Calculate and process payments to vendors according to payment schedules
- Monitor outstanding payables and coordinate with vendors to ensure timely and accurate payments
2. Accounts Receivable (AR)
- Issue sales invoices and receipts to customers
- Record sales transactions and revenue in the accounting system
-Verify the accuracy of customer payments and prepare payment reports
- Follow up on overdue accounts and coordinate collection efforts
-Prepare AR Aging reports to show the status of outstanding receivables
3. General Ledger (GL)
- Record and update journal entries in the General Ledger (GL) based on inputs from various departments
- Review and adjust accounts to ensure compliance with accounting standards
- Close monthly and annual financial statements
- Prepare financial reports such as the balance sheet and income statement
4. Costing
- Calculate the cost of goods or services based on established standards and methodologies
- Analyze actual costs against standard costs to identify variances and report findings to management
- Assist in preparing cost reports for budgeting and cost forecasting
- Analyze and suggest ways to reduce operational costs