Job Title: Creditors Clerk
Location: Durban
Closing Date: 16 January 2025

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Overview:

We are looking for a diligent and organized Creditors Clerk to join our dynamic finance team. The Creditors Clerk plays a critical role in managing supplier transactions and ensuring that payments are processed accurately and on time. This individual will be responsible for capturing purchase orders, processing payments, handling supplier invoices, and performing creditor reconciliations on a monthly basis. The ideal candidate will work closely with the finance department to ensure that financial records are accurate, payments are timely, and any discrepancies or issues related to creditors are quickly resolved. The role also offers an opportunity to grow and develop your skills in accounting within a fast-paced environment.

Key Responsibilities:

Daily Tasks:

One of the primary responsibilities of the Creditors Clerk is to manage day-to-day financial transactions related to suppliers. This includes:

• Capturing and Recording Purchase Orders:
  On a daily basis, you will be responsible for accurately capturing approved purchase orders (POs) into the system. You must ensure that this is done within 24 hours of receipt and approval, ensuring that all entries are free of errors the first time. Mistakes in this step can lead to delays in the payment process or inaccuracies in the financial records, so accuracy and efficiency are essential in this role. The system used should be updated with all relevant purchase order details to maintain smooth operations for the finance department.
• Authorization Signatures for Supplier Transactions and Payments:
  Before recording any invoices in the system, it is crucial that you obtain the necessary approval or authorization from the relevant business unit. This includes securing signatures from authorized personnel for supplier transactions and payments. The correct approval ensures that all transactions are in line with company policies and financial controls.
• Payment Processing:
  Once all payments have been fully approved, it’s your responsibility to load these onto the banking system. Ensuring that payments are uploaded accurately is vital, as errors could result in delays or missed deadlines. This requires attention to detail and adherence to the company’s payment approval process.
• Tax Invoice Review:
  As part of your duties, you will also need to carefully review tax invoices to confirm that they have the correct VAT treatment. This is important because incorrect VAT treatment could cause issues with tax compliance, leading to financial discrepancies. The accurate application of VAT is critical in the finance world, and your attention to this detail ensures that the company stays compliant with tax regulations.
• Ledger Code Allocations for EFTs:
  You will be required to ensure that the ledger codes for EFTs received from different regions are correctly allocated. This involves verifying that all financial transactions and payments are recorded correctly under their respective account codes. By maintaining proper ledger allocations, you help ensure that the financial reporting is accurate and that no discrepancies arise from misallocated funds.
• Responding to Management Requests:
  Throughout the day, management may have various queries or requests related to creditor transactions. You will need to respond to these promptly, either by providing direct answers or by offering a status report along with an expected timeline for completion. This involves good communication skills and the ability to prioritize and manage multiple tasks simultaneously.

Tasks to be Completed Within 48 Hours:

The following tasks are to be completed within 48 hours of receipt or approval:

• Recording EFT Payments:
  Once payments have been processed in the bank, you will record them in the Xero accounting system. It is critical that this is done accurately and without errors. Xero is a cloud-based accounting system used to track payments and transactions, so familiarity with the system is beneficial. Your role here is to ensure that all payments are recorded in a timely manner and correctly reflect the payment amounts in the system.
• Saving Supporting Documentation:
  Proper documentation is crucial for financial record-keeping. You will need to save all supporting documents, such as invoices and payment receipts, onto the network. This should be done following the structure and format prescribed by management, ensuring that all files are stored in an organized and easily accessible way for future reference.
• BEE Certificates Management:
  A key part of your responsibilities will be ensuring that the company maintains up-to-date BEE (Broad-Based Black Economic Empowerment) certificates from suppliers. These certificates are necessary for compliance with South Africa’s BEE regulations. You will need to collect new BEE certificates from suppliers or ensure that expired certificates are updated and captured accurately in the system. Keeping this documentation up to date is important for legal and business relationship purposes.
• Identifying and Reporting Accruals:
  At year-end, accruals need to be identified to ensure the correct financial standing of the company. Accruals refer to expenses that have been incurred but not yet paid. You will need to identify these accruals and report them, providing supporting documentation to the relevant accountant to ensure that they are accurately recorded in the system.
• Payment Reconciliation:
  As part of the payment function, it’s necessary to reconcile payments made to suppliers. You will ensure that payments recorded in the Xero system match the related proof of payment, such as bank statements or transaction receipts. This task also involves saving these proof of payments in the prescribed manner and matching them to the correct supplier accounts.

Monthly Tasks:

On a monthly basis, you will be responsible for:

• Creditor Age Payables Maintenance:
  The creditors’ age payable report is a crucial document that tracks outstanding debts to suppliers. You will need to maintain an up-to-date report to reflect how long these debts have been outstanding. Keeping this report updated ensures that the finance team can manage cash flow and handle overdue accounts accordingly.
• Obtaining Statements from Creditors:
  Each month, you will need to obtain statements from all creditors listed in the age payables. These statements provide a snapshot of how much is owed to each supplier, the outstanding balances, and any discrepancies that need to be resolved. This task involves direct communication with suppliers to ensure that all data is correct and up to date.
• Clearing Debit Creditors:
  Part of your responsibilities will be to clear any creditors that have a debit balance. A debit balance indicates that the company has overpaid or made an error in the payment amount, which needs to be corrected. You will identify these discrepancies and work to clear them, ensuring that the company’s financial records remain accurate.
• Resolving Long-Standing Creditors:
  Long-outstanding creditors, especially those older than 90 days, must be addressed. You will be responsible for creating a schedule detailing the reasons why certain balances remain unpaid. This schedule will be provided to management so that they can review the outstanding balances and take appropriate action.
• Creditor Allocation:
  Every month, you will collaborate with the finance team to allocate creditors. This task requires accuracy and teamwork, as it ensures that all payments are correctly assigned to the appropriate accounts. This work must be completed by the 7th of the following month, and it helps maintain the smooth operation of the finance team.
• Monthly Creditor Reconciliations:
  You will perform creditor reconciliations each month. This means ensuring that the amounts recorded in the accounts match the supplier statements. Reconciliations must be saved on the network in the correct format, and any suppliers who have not been reconciled must be reported by the 15th of the subsequent month.
• Follow-up and Resolving Discrepancies:
  As part of your duties, you will follow up and resolve any discrepancies or reconciling items. This involves investigating any differences between the accounting records and supplier statements and taking the necessary steps to resolve them.
• Bi-Monthly Timetable Submissions:
  You will be required to submit detailed individual monthly timetables for your tasks, in the prescribed format, every two months. This timetable helps to track progress, ensure accountability, and support the effective planning and scheduling of work within the department.

Requirements:

Qualifications:

• Matric (Grade 12): This is a mandatory requirement for the role. Having a solid foundation in basic accounting principles and skills is essential.
• Tertiary Qualification in Accounting (Advantageous): While not mandatory, a relevant tertiary qualification in accounting will be advantageous and could enhance your understanding of financial systems and accounting practices.

Experience:

• 3 to 5 Years of Experience: Previous experience in a creditor’s environment is essential. You should be comfortable managing accounts payable, supplier transactions, and payment processes.

Skills:

• Attention to Detail: Accuracy is key in this role. You must ensure that all financial data is entered correctly, invoices are processed with care, and payments are made in a timely manner.
• Understanding of VAT and Accounting Systems: A good grasp of VAT, tax compliance, and accounting systems such as Xero is essential for this role.
• Organizational and Time Management Skills: You should be able to handle a large volume of work, manage your time effectively, and meet deadlines consistently.
• Good Communication Skills: Effective communication is crucial when liaising with suppliers and internal stakeholders. You must be able to clearly explain financial matters and resolve issues when they arise.
• Ability to Handle Pressure: As the role involves meeting deadlines and managing multiple tasks simultaneously, the ability to work under pressure is a valuable skill.

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This position offers a fantastic opportunity for a Creditors Clerk to develop their accounting skills while contributing to the overall efficiency of the finance team. By maintaining accurate records, ensuring compliance, and addressing any discrepancies, you will play an important role in ensuring the company’s financial operations run smoothly.