Job Description - Finance Officer (Payable)

Finance Office (payable)

Main purpose of the role:

Responsible to the FInancial Director, the Finance Officer (payable)ensures that payments are made to creditors appropriately and in a timely fashion.

As this role involves making payments to creditors, it has the ability to affect the balance of accounts significantly.  Common sense must be applied in determining whether or not to refer a payment to the Financial Director before making payment.

The practice must maintain appropriate records for statutory reporting purposes.  Archiving of invoices payable, both entry and retrieval is an essential part of this role.

 

1

 

Payments

 

 

1.1

Payments are Checked

All invoices are checked for validity before payment is made.  This may involve liaison with ordering staff to ensure that the goods or services invoiced have been received and are of an appropriate standard.

Concerns are discussed with the Financial Director before payment.

Communication is maintained with creditors to ensure that clarification, if required, is obtained in a timely fashion.

Creditors are dealt with courteously.

 

1.2

Payments are made in a timely fashion

All invoices for services received before the last day of the previous month are paid on or before the 20th of the following month.

Where a delay is unavoidable, dialogue is maintained with creditors to ensure they are aware of the reasons for any delay.

 

1.3

Fiscal responsibility

Payments are referred to the Financial Director where there is a risk that they may compromise practice fiscal viability.

 

1.4

Record Keeping

Invoices are filed appropriately and stored for not less than 7 years.

Invoices can be retrieved easily upon demand.

Payments are appropriately annotated with creditor name, invoice number and if appropriate, further information required for responsible accounting.

 

1.5

Reporting

Reporting of patterns of invoicing, invoiced totals and other relevant information is made to the Financial Director and/or the Company Accountant as required.

Unusual payments or patterns of payments are brought to the attention of the Financial Director.

Liaison with IRD, DHB or other government agencies if required to satisfy statutory reporting requirements.

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