Finnance Officer Job Description | Main region
Finance Officer job description
What is included in a Finance Officer's job description?
- Develops and maintains financial systems
- Plans, directs, and controls accounting and financial operations
- Prepares reports and documents covering accounting transactions for management review
- Ensures that accurate records are kept by standard practices
- Establishes budgets, forecasts future cash flows, provides periodic financial analysis
- Monitors budget performance, expenditure control
- Manages invoicing procedures to collect money owed by clients/customers
What does a Finance Officer do?
- Mediating tax refunds and ensuring transparency in the allocation for valid claims
- Following up on outstanding refunds, false claims, and unclaimed refunds
- Providing auditors with all records, documents, and files about VAT returns, VAT settlements, and transactional data
- Working closely with other departments in the business
- Preparing various monthly reports to analyse business financial health, including sales reports, profit and loss statements, general ledger entries, goods received notes, and goods issued notes
What are the duties and responsibilities of a Finance Officer?
- Managing the budget: this includes forecasting future income and expenses, creating budgets and balance sheets, and ensuring that spending is within budget limits.
- Preparing financial reports: financial reports provide an overview of the company's financial status and performance. They are used to make critical business decisions, assess risk, and secure financing.
- Conducting financial transactions: a Finance Officer oversees all financial transactions, including issuing payments, collecting debts, and investing money.
- Ensuring compliance with financial regulations and laws: Finance Officers must comply with all relevant economic rules and regulations in Australia and overseas. This includes ensuring that financial records are accurate and up-to-date.
- Using accounting software: this is to keep an accurate record of all internal and external business financial transactions and perform financial audits wherever necessary.