Accounting Specialist

at  Inchcape

• Responsible to prepare bank reconciliation (several bank accounts) by reconciling bank statement amount to amount booked in SAP.
• Investigate any discrepancies to Accounts Payable, Accounts Receivable and Treasury team in a timely manner.
• Prepare monthly reports for bank reconciliation and summary of all bank reconciliation.
• Prepare journal voucher and posting transactions related to bank transaction :

• FX-Forward transaction and calculation difference exchange rate between deal rate and maturity rate from entries and CTB report.

• Bank charges, stamp duty, interest fee include WHT, Bank loan and interest, Time deposit and interest - Ensure that the interest income has been properly accounted. Ensure the accuracy of difference exchange rate amount for time deposit or loan in foreign currency.

• Prepare journal voucher and posting transactions related to provision : Ensure that all accrual has been properly accounted, Maintain daily rate exchange rate from Deutsche Bank and monthly rate from DAG in SAP and Kerridge system, Calculate and post recurring transaction related to deferred income and deferred expense (prepaid expense & prepaid rent), permanent car loan and temporary car loan based on contract. Ensure the amortization of expense or income is recognized in the correct period.

• Reconcile journal posted from HR Symphony with the journal posted from AP Voucher in EAS related to payment of salary and medical, including if there is any salary deduction.
• Ensure that the transaction are classified and recorded in the correct GL account according to acceptable accounting standards
• Check and follow up outstanding clearing account, accrual and provision. Investigate long outstanding balance and then report to respective section in Accounting Department for clear balance.

• Calculate and posted journal for Payroll provision, such as Bonus and THR on a monthly basis and ensure that the cost has been booked in the correction period before closing

• Prepare and posting journal voucher or adjustment to accounts including journals from other department, such as IBC dept, IT dept, HR dept. - Ensure completeness for supporting document and recheck mathematical accuracy of the accounting documents, calculations, postings, etc.

• Calculate interest income and expense for intercompany loan to ensure the interest has been properly accounted in accordance with loan agreement in a timely manner.

• Reconcile balance for intercompany account between AP and AR to ensure that elimination for consolidated Intercompany account has been balance at month end.
• Prepare monthly reports for time deposit and interest expense and income calculation, intercompany balance sheet report, monetary assets and liability foreign currency, provisions and accruals, prepaid expenses, prepaid rent, permanent car loan, temporary car loan, and deferred income to support the closing and checklist process.
• Running monthly valuation for foreign currency transaction and check the accuracy and completeness of valuation resulted from SAP exac program.
• Investigated and make adjusting journal entries if there is any discrepancy occurs.
• Prepare monthly reports for Revaluation Cross Check Report, Hedging Report, and ER Report to support the closing and checklist process.
• Performed control checklist for Accrual and Provision, accrual for bonus to dealer and accrual for incentive plan on a timely basis.
• Support monthly and yearly closing to ensure that all information is recorded accurately, timely and completely in general ledger.
• Provide information, data and document requested by the internal and external auditors.
• Responsible to prepare bank reconciliation (several bank accounts) by reconciling bank statement amount to amount booked in SAP.
• Investigate any discrepancies to Accounts Payable, Accounts Receivable and Treasury team in a timely manner.
• Prepare monthly reports for bank reconciliation and summary of all bank reconciliation.
• Prepare journal voucher and posting transactions related to bank transaction :
• FX-Forward transaction and calculation difference exchange rate between deal rate and maturity rate from entries and CTB report.
• Bank charges, stamp duty, interest fee include WHT, Bank loan and interest, Time deposit and interest
• Ensure that the interest income has been properly accounted. Ensure the accuracy of difference exchange rate amount for time deposit or loan in foreign currency.
• Prepare journal voucher and posting transactions related to provision : Ensure that all accrual has been properly accounted, Maintain daily rate exchange rate from Deutsche Bank and monthly rate from DAG in SAP and Kerridge system, Calculate and post recurring transaction related to deferred income and deferred expense (prepaid expense & prepaid rent), permanent car loan and temporary car loan based on contract. Ensure the amortization of expense or income is recognized in the correct period.
• Reconcile journal posted from HR Symphony with the journal posted from AP Voucher in EAS related to payment of salary and medical, including if there is any salary deduction.
• Ensure that the transaction are classified and recorded in the correct GL account according to acceptable accounting standards
• Check and follow up outstanding clearing account, accrual and provision. Investigate long outstanding balance and then report to respective section in Accounting Department for clear balance.
• Calculate and posted journal for Payroll provision, such as Bonus and THR on a monthly basis and ensure that the cost has been booked in the correction period before closing
• Prepare and posting journal voucher or adjustment to accounts including journals from other department, such as IBC dept, IT dept, HR dept.
• Ensure completeness for supporting document and recheck mathematical accuracy of the accounting documents, calculations, postings, etc.
• Calculate interest income and expense for intercompany loan to ensure the interest has been properly accounted in accordance with loan agreement in a timely manner.
• Reconcile balance for intercompany account between AP and AR to ensure that elimination for consolidated Intercompany account has been balance at month end.
• Prepare monthly reports for time deposit and interest expense and income calculation, intercompany balance sheet report, monetary assets and liability foreign currency, provisions and accruals, prepaid expenses, prepaid rent, permanent car loan, temporary car loan, and deferred income to support the closing and checklist process.
• Running monthly valuation for foreign currency transaction and check the accuracy and completeness of valuation resulted from SAP exac program.
• Investigated and make adjusting journal entries if there is any discrepancy occurs.
• Prepare monthly reports for Revaluation Cross Check Report, Hedging Report, and ER Report to support the closing and checklist process.
• Performed control checklist for Accrual and Provision, accrual for bonus to dealer and accrual for incentive plan on a timely basis.
• Support monthly and yearly closing to ensure that all information is recorded accurately, timely and completely in general ledger.
• Provide information, data and document requested by the internal and external auditors.

Please refer the Job description for details