Accountant/Accounting Assistant/Bookkeeper/Virtual Assistant

Managing accounts receivable involves several key responsibilities to ensure timely payment from customers: 1. Invoicing: Generating and sending invoices promptly after goods or services are delivered. 2. Payment Tracking: Monitoring incoming payments and updating records to reflect received amounts. 3. Customer Communication: Following up with customers regarding overdue payments and addressing any billing inquiries. 4. Reconciliation: Ensuring that all payments are accurately recorded and reconciling discrepancies between accounts. 5. Reporting: Preparing regular reports on accounts receivable status, outstanding balances, and collection activities. 6. Collections: Implementing strategies to collect overdue payments while maintaining positive customer relationships. 7. Credit Management: Assessing the creditworthiness of new customers and setting appropriate credit limits.

Managing accounts payable involves several essential duties to ensure timely and accurate payment of bills and invoices: 1. Invoice Processing: Reviewing and verifying invoices for accuracy, ensuring they match purchase orders and delivery receipts. 2. Data Entry: Entering invoice details into the accounting system for record-keeping and payment processing. 3. Payment Authorization: Obtaining necessary approvals for payments and ensuring they are processed according to company policies. 4. Disbursement: Preparing and issuing payments to vendors via checks. 5. Vendor Relations: Communicating with vendors to resolve invoice discrepancies, answer inquiries, and maintain good relationships. 6. Reconciliation: Regularly reconcile accounts payable records with bank and vendor statements to ensure accuracy. 7. Record Maintenance: Organizing and maintaining physical and electronic records of all transactions for audit and compliance purposes. 8. Compliance: Ensuring all transactions comply with company policies, legal requirements, and accounting standards. 9. Reporting: Generating reports on accounts payable status, outstanding payments, and other financial metrics for management review. These duties help maintain smooth financial operations and ensure the company meets its financial obligations on time.

Bank reconciliation involves several critical duties to ensure accurate and up-to-date financial records: 1. Transaction Matching: Compare the bank statement with your internal financial records to identify matching transactions. 2. Identify Discrepancies: Look for any differences between the bank statement and your records, such as missing transactions or incorrect amounts. 3. Investigate Differences: Investigate the cause of any discrepancies, which may involve checking receipts, invoices, or contacting the bank. 4. Adjust Entries: Make necessary adjustments in your accounting records to correct any errors or omissions. 5. Reconciliation Report: Prepare a reconciliation report that summarizes the differences, and the adjustments made. 6. Maintain Records: Keep detailed records of the reconciliation process, including the bank statements and any correspondence with the bank. 7. Regular Reviews: Conduct regular reconciliations (e.g., monthly) to maintain ongoing accuracy and to catch discrepancies early. 8. Compliance Check: Ensure all reconciliations comply with internal policies and accounting standards. These duties help ensure the accuracy of your financial records and support financial transparency and accountability.

Account reconciliation duties involve ensuring the accuracy and consistency of financial records. Here are the key tasks: 1. Comparing Records: Matching internal financial records with external statements (e.g., bank statements, vendor statements). 2. Identifying Discrepancies: Finding and investigating any differences between the records. 3. Documenting Findings: Keeping a clear record of identified discrepancies and their resolutions. 4. Correcting Errors: Making necessary adjustments to correct any errors found. 5. Ensuring Compliance: Verifying that transactions comply with accounting standards and regulations. 6. Regular Reviews: Conduct periodic reconciliations to maintain ongoing accuracy. 7. Preparing Reconciliation Reports: Creating detailed reports summarizing reconciliation activities and findings. 8. Communicating: Collaborating with various departments to resolve discrepancies and improve processes. These duties help maintain accurate financial records and ensure financial integrity.

Attended and obtained certifications for QuickBooks. In this course, I learned: ✅ The capabilities of QuickBooks software ✅ Foundational accounting principles ✅ How to navigate and utilize various features within QuickBooks Online ✅ How to generate and utilize different reports within QuickBooks Online ✅ The differences between Philippine and Australian accounting practices ✅ How to set up a QuickBooks Online account

Financial accounting involves the systematic recording, summarizing, and reporting of a company's financial transactions. Here's what it entails: 1. Transaction Recording: Documenting all financial transactions, such as sales, purchases, and expenses, in the appropriate accounting records. 2. Financial Statements: Preparing key financial documents like balance sheets, income statements, and cash flow statements to provide a clear picture of the company’s financial health. 3. Compliance: Ensuring all financial practices adhere to relevant accounting standards and regulations. 4. Internal Controls: Implementing procedures to prevent and detect errors or fraud. 5. Auditing: Reviewing financial records to ensure accuracy and compliance with accounting standards. 6. Reporting: Communicating financial information to stakeholders, such as investors, management, and regulatory agencies. 7. Budgeting and Forecasting: Assisting in the preparation of budgets and financial forecasts to guide business planning and decision-making. These processes are essential for accurate financial reporting and informed business decision-making.

Bookkeeping involves a range of duties to keep financial records accurate and up-to-date. These include: 1. Recording Transactions: Documenting all financial transactions, such as sales, purchases, income, and expenses. 2. Managing Accounts Payable and Receivable: Handling invoices, processing payments, and managing collections. 3. Bank Reconciliation: Ensuring financial records match bank statements to maintain accuracy. 4. Expense Tracking: Monitoring and categorizing expenses. 5. Financial Reporting: Preparing financial statements like balance sheets and income statements. 6. Document Management: Organizing and maintaining financial documents and records. 7. Tax Preparation: Assisting with tax filings and ensuring compliance. 8. Inventory Management: Tracking and managing inventory levels and valuations. 9. Maintaining General Ledgers: Keeping detailed records of all financial transactions. These duties help ensure accurate financial records and support overall business operations.

Attended and obtained Certifications for Xero Accounting Software: In this course, I learned: Day 1: Xero Advisor ✅ Basic Accounting for Non-Accountants ✅ Navigating Xero Functions ✅ Utilizing Key Reports in Xero ✅ Differences Between Philippine and Australian Accounting ✅ Setting Up a Xero Online Account ✅ Becoming Xero Advisor Certified ✅ Interactive Wrap-up & Q&A Session Day 2: Xero Payroll ✅ Introduction to Payroll ✅ Setting Up and Navigating Payroll in Xero ✅ Employee Payroll Setup ✅ Granting Employee Payroll Access ✅ Managing Regular Payroll Tasks ✅ Generating Payroll Reports in Xero