Internal accounting is a relatively new term for those new to the accounting profession. So, what exactly is internal accounting within a company's accounting department? The structure of internal accounting depends on the accounting department of each business. Often, when a business owner wants independence between management accounting (internal accounting) and financial accounting, the accounting department will be divided into two groups of accountants.
Some small businesses only have in-house accountants and outsource accounting services to perform accounting tasks and prepare reports in accordance with Accounting Standards and Regulations.
1. What is internal accounting?
An internal accountant, or management accountant, is a position responsible for checking, controlling, storing, statistically analyzing, and accounting for all actual transactions occurring within the business according to management objectives; and preparing reports as required by the Board of Directors.
2. Job Description
- Conduct banking transactions as requested by the Board of Directors.
- Manage and process VAT invoices for customers.
- Verify the validity and legality of purchase invoices and supporting documents.
- Control and manage data related to customer accounts receivable: reconcile detailed and summarized data to ensure accurate, complete, and timely recording of outstanding amounts and payment deadlines for customer debts.
- Reconcile accounts receivable with customers on a regular monthly/ad hoc basis.
- Expedite the collection of outstanding accounts receivable from customers.
- This report includes data related to accounts receivable from customers and sales revenue.
- This report categorizes customer accounts receivable by age.
- Track the company's accounts payable.
- Collect and store all generated accounting documents in a systematic manner.
- Coordinate with the accounting/payroll service provider according to the service agreement with the service provider.
- Plan expenditures according to the Board of Directors' requirements.
- Prepare internal income/expenditure reports on a weekly/monthly/quarterly basis, or on an ad-hoc basis as needed.
- Prepare management reports as requested by the Board of Directors.
3. Candidate Requirements
3.1. Knowledge and experience
- Graduated from a regular university program with a major in Finance/Accounting/Auditing/Banking.
- At least 02 year of experience in a similar position.
- Master accounting standards, accounting regulations, accounting law, tax law, etc.
- Good English skills (all four skills).
3.2. Skills
- Excellent communication skills.
- Good problem-solving skills.
- Proficiency in using accounting software and Excel.
- Skills in organizing, planning, and developing strategies to accomplish assigned tasks.
3.3. Personal requirements
- Female/Male.
- Work attitude: careful, responsible, serious, courteous.
- Human and social attitudes: Honesty, integrity, morality, self-respect.