Bookkeeper

Position Summary: Contract Bookkeeper

The initial responsibility of the Contract Bookkeeper is to oversee and execute the comprehensive migration of our accounting and bookkeeping records from Wave Accounting to QuickBooks. This critical transition will be carried out under the guidance and in conjunction with our external Certified Public Accountant (CPA), ensuring a seamless and error-free transfer of all financial data.

The Contract Bookkeeper will play a pivotal role in setting up, modifying, and maintaining an accurate and functional chart of accounts. They will work closely with the CPA to ensure each transaction is properly coded and categorized, covering various types of expenses and income. The role demands meticulous attention to detail in managing and reconciling multi-currency transactions and executing payments to international contractors through platforms such as WISE, Remitly, and Western Union.

Given the nature of our transactions, many of which are GST exempt, the bookkeeper must possess a strong understanding of input tax credits. They will be expected to accurately recognize, categorize, and record transactions to capitalize on tax exemptions and credits effectively, ensuring compliance and optimizing tax benefits.

This contract position requires the bookkeeper to provide consistent, accurate financial services on a weekly and monthly basis.

Key Responsibilities:

Document Management:

• Accurately sort and categorize physical and digital receipts to facilitate easy access and retrieval.

• Ensure all receipts are scanned, stored, and indexed in the company’s document management system according to predefined categories and guidelines.

Expense Management:

• Review transaction details for accuracy and completeness.

• Assign expenses to the appropriate general ledger accounts based on the company’s chart of accounts and specific coding guidelines.

• Monitor and analyze expenditures to ensure they align with budgetary constraints and financial policies.

Electronic Records Retrieval:

• Systematically access various vendor websites and account portals to download electronic receipts and financial statements.

• Maintain secure login credentials and ensure timely retrieval of documents to support financial transactions and month-end closing.

QuickBooks Online Management:

• Perform all activities related to the setup, maintenance, and usage of QuickBooks Online.

• Customize and manage the accounting dashboard, user settings, and access permissions to enhance operational efficiency.

• Troubleshoot issues and ensure the integrity of financial data within the system.

Tax Compliance and ITCs:

• Identify eligible Input Tax Credits (ITCs) from financial transactions, focusing on GST and other relevant taxes.

• Accurately record and claim ITCs to optimize tax benefits and comply with local tax laws.

• Prepare and submit periodic tax filings and reports, ensuring compliance with deadlines and regulations.

 Account Reconciliation:

• Conduct thorough reconciliations of all bank accounts and credit card statements to ensure accuracy of financial records.

• Investigate and resolve discrepancies or irregularities found during reconciliation.

• Document reconciliation processes and findings for audit trails and financial reviews.

CPA Support:

• Compile and organize financial data and supporting documents for external accountants and auditors.

• Facilitate efficient communication and document exchange between the company and external financial advisors.

System Migration:

• Lead the planning and execution of migrating financial data from Wave Accounting to QuickBooks.

• Ensure comprehensive data transfer, including historical financial records, open invoices, and past transaction details.

• Validate the accuracy and completeness of the data post-migration and adjust entries as necessary.

Monthly Reconciliations:

• Conduct detailed monthly reconciliations of all financial accounts to confirm the accuracy of postings and balances.

• Prepare reconciliation reports summarizing findings and actions taken to resolve issues.

• Adjust journal entries and update ledgers to reflect accurate financial positions.

Financial Reporting:

• Prepare detailed monthly financial reports including income statements, balance sheets, and cash flow statements.

• Analyze financial trends and provide insights into budget performance, expense management, and financial forecasting.

• Support management in strategic decision-making by providing accurate and timely financial data.

Multi-Currency Transactions:

• Manage and record transactions involving multiple currencies using the Wise platform.

• Calculate and apply appropriate exchange rates to ensure accurate conversion and financial reporting.

• Monitor currency exchange fluctuations and their impact on financial transactions and company finances.