Financial and Purchasing Coordinator

at  LHS Inc

FINANCIAL AND PURCHASING COORDINATOR

Company: LHS Inc.
Location: Cobourg, ON
Job Type: Full-Time, Permanent
Salary: $60,000, yearly
Application Deadline: February 14, 2025

ABOUT US:

LHS Inc. is a leading provider of fire protection services, specializing in the maintenance and repair of fire hydrants across Ontario. As a fast-growing company, we are committed to delivering exceptional service while maintaining the highest standards of safety and reliability. Our team is dedicated to keeping accurate, up-to-date financial records and ensuring smooth operational processes.
We are currently seeking a reliable, detail-oriented Financial and Purchasing Coordinator to join our dynamic team. In this key role, you will play an essential part in managing daily and monthly financial operations, including accounts payable, accounts receivable, and procurement activities. If you have a passion for numbers, a keen eye for detail, and a drive for excellence, we would love to hear from you!

JOB SUMMARY:

The Financial and Purchasing Coordinator will play a key role in managing and overseeing the financial and procurement activities within the organization. This position is responsible for maintaining accurate financial records, assisting with budgeting and forecasting, processing invoices, managing purchase orders, and ensuring that purchasing activities align with company goals and standards. The ideal candidate will have a strong attention to detail, excellent organizational skills, and the ability to manage multiple tasks efficiently.

QUALIFICATIONS:

• Bachelor’s degree in Finance, Accounting, Business Administration, or a related field (+ equivalent experience).
• Proven experience in financial management, purchasing, or a related field.
• Strong knowledge of financial reporting, budgeting, and procurement processes.
• Proficiency in accounting software Sage 50, QBO and Microsoft Office Suite
• Experience handling payroll and tax filings (T4, HST).
• Excellent organizational and time-management skills, with the ability to manage multiple priorities.
• Strong negotiation and communication skills, with the ability to work effectively with vendors and internal teams.
• Ability to maintain confidentiality and ensure data integrity.
• Attention to detail and a strong commitment to accuracy.

KEY FINANCIAL RESPONSIBILITIES:

Routine Tasks:

• Communication Management
• Manage communications sent to accounting@lhsinc.com
• Respond to vendor inquiries and facilitate communication between departments.
• Accounts Receivable (AR):
• Pick up mail from the LHS Post Office bi-weekly.
• Record customer payments and ensure accurate balances for clients.
• Produce and review AR Aging reports, and correct discrepancies as needed.
• Accounts Payable (AP):
• Track bills received from vendors and suppliers and enter them into the accounting system.
• Review accounts payable and ensure timely processing of payments.
• Approve and reimburse employee expenses in accordance with company policy.
• Payroll Administration:
• Process bi-weekly payroll, ensuring accurate calculations and timely submissions of payroll-related remittances.
• Record payroll journal entries for accurate accounting records.
• Bank and Credit Card Reconciliation:
• Match daily bank and credit card transactions with financial records.
• Perform monthly reconciliation of all bank accounts and credit cards.
• File and Organize Financial Documents:
• Digitally store and organize receipts, invoices, and other financial documents.
• HST Returns and Payments:
• Prepare, calculate, and file the Harmonized Sales Tax (HST) return on time.
• Ensure HST payments are processed promptly.
• Backup Financial Data:
• Ensure all financial data is securely backed up weekly to prevent data loss.

Annual Tasks:

• Coordinate with External Accountant:
• Provide necessary documentation for corporate tax filing or year-end financial compilation.
• Prepare Year-End Payroll Filings:
• Submit T4 slips and year-end payroll summaries in compliance with CRA regulations.
• Assist in the preparation and management of departmental budgets, ensuring alignment with organizational goals.
• Monitor and report on the financial status of the company, preparing reports on accounts payable/receivable, cash flow, and expenses.
• Process and track invoices, ensuring accuracy, compliance, and timely payment of expenses.
• Maintain accurate and up-to-date financial records and files, including transaction logs and general ledgers.
• Assist in the preparation for financial audits, providing necessary documentation and support.
• Monitor cash flow, ensuring adequate liquidity for operational needs.
• Analyze financial data to identify trends, opportunities, and areas for cost control or savings.

PURCHASING RESPONSIBILITIES:

• Manage the procurement process for goods and services, from identifying needs to negotiating contracts with suppliers.
• Ensure the timely processing of purchase orders, tracking orders, and following up with vendors to ensure on-time delivery.
• Review and evaluate vendor contracts to ensure favorable terms and compliance with company policies.
• Track inventory levels and reorder supplies to maintain optimal stock levels without over-purchasing.
• Build and maintain positive relationships with suppliers, resolving any issues or discrepancies as needed.
• Collaborate with internal teams to identify and implement cost-saving measures in the purchasing process.

ADDITIONAL RESPONSIBILITIES:

• Provide regular financial and purchasing reports to the team, highlighting key performance indicators and areas for improvement.
• Recommend process improvements to streamline financial and procurement operations, improving efficiency and reducing costs.
• Work closely with our team to ensure that financial and purchasing activities align with overall business objectives.
• Ensure compliance with internal policies, as well as industry standards and regulations, in all purchasing and financial activities.