Finance and Accounting Manager

Job Summary:

The Finance and Accounting Manager is responsible for keeping the company’s books complete, accurate, and on time. The role manages the P&L and balance sheet in QuickBooks, runs accounts receivable and payable, and works with the business units so that inventory, sales, and expenses are properly recorded.

The role also covers tax and regulatory compliance. This includes BIR filings, payroll taxes and government contributions together with HR, and the permits and renewals required by the LGU, SEC, and BIR. Management will rely on this person for financial projections, sales forecasts, and expense reports.

Beyond day-to-day accounting, the role carries controller-level responsibility for the company’s financial controls, cash, and reporting to the owners. That means setting approval limits, protecting cash and bank access, and giving shareholders a clear monthly picture of the business.

This is a hands-on position with no direct reports. The manager does the accounting work personally, with support from HR and the company’s external auditor and tax adviser.

Key Responsibilities:

Accounting, Controls, and Business Support

The manager runs day-to-day accounting, keeps the company’s financial controls working, and gives management and the owners reliable numbers on time.

General Accounting and Financial Reporting

• Maintain the general ledger and chart of accounts in QuickBooks so the P&L and balance sheet are complete and accurate.
• Close the books every month within an agreed timeline, including accruals, prepayments, depreciation, and adjusting entries.
• Prepare monthly financial statements and management reports, with short notes on significant changes.
• Reconcile bank, cash, e-wallet, and credit card accounts every month.
• Set and document accounting policies, such as revenue recognition, inventory valuation, asset capitalization, and allowances, in line with the applicable PFRS framework.
• Lock closed periods in QuickBooks and manage user access so posted records cannot be changed without approval.
• Keep supporting documents organized and easy to retrieve for audits, BIR reviews, and due diligence.
• Manage the annual audit from planning to sign-off, and make sure audit findings are resolved on time.

Financial Controls and Cash Management

• Set up and maintain an approval matrix showing who can approve purchases, payments, discounts, and write-offs, and up to what amount.
• Separate key duties as far as the company’s size allows, and add a review step wherever one person handles several parts of a transaction.
• Control disbursements, bank signatories, and online banking access, including dual approval for payments above.
• Monitor the daily cash position, manage relationships with the company’s banks, and track any loans or credit lines and their terms.
• Review the financial and tax terms of major contracts, leases, and loans before they are signed.
• Keep insurance for inventory and other company assets adequate and renewed on time.
• Document key finance procedures and review controls regularly, reporting any gaps to management.

Accounts Receivable and Accounts Payable

• Oversee billing so sales invoices are issued correctly and on time, in line with BIR invoicing rules.
• Set customer credit terms and limits with management, and check new accounts before extending credit.
• Monitor collections, maintain the AR aging, and follow up overdue accounts with the sales team.
• Review supplier bills for complete documents and approvals before payment.
• Schedule payments based on supplier terms and available cash, and maintain the AP aging.
• Reconcile customer and supplier statements regularly and resolve differences.

Inventory, Sales, and Expense Control

• Work with the business units so that purchases, transfers, sales, returns, and write-offs of inventory are recorded correctly and on time.
• Schedule and run regular inventory counts, and reconcile physical counts against QuickBooks.
• Apply a consistent inventory costing method and recommend write-downs for slow-moving, damaged, or obsolete stock.
• Prepare the inventory list and related schedules required for BIR and audit purposes.
• Make sure sales and expenses from every business unit are captured in the books with proper documents and approvals.
• Set up simple controls for cash advances, liquidations, reimbursements, and petty cash.

Financial Planning and Analysis

• Prepare the annual budget with management and the business unit heads.
• Build and update financial projections, cash flow forecasts, and sales forecasts.
• Prepare expense reports and budget-versus-actual reports, and explain major variances.
• Prepare a monthly reporting pack for the President and shareholders covering results, cash, receivables, inventory, and key risks.
• Track key figures such as gross margin, operating expenses, collection days, and inventory turnover.
• Provide cost and profitability analysis to support pricing, purchasing, and other business decisions.

Key Responsibilities:

The manager makes sure every tax, government contribution, and permit is filed, paid, and renewed on time and without penalties.

Payroll, Government Contributions, and Taxes on Compensation (with HR)

• Review payroll prepared by HR before release, including overtime, allowances, deductions, 13th month pay, and final pay.
• Check that payroll changes, such as new hires, separations, and salary adjustments, are approved before they are processed.
• Compute and remit withholding tax on compensation, and file BIR Form 1601-C every month.
• Check that SSS, PhilHealth, and Pag-IBIG contributions and loan payments are correctly computed, remitted, and reported.
• Prepare the year-end tax annualization, issue BIR Form 2316 to employees, and file BIR Form 1604-C with its alphalist.
• Record payroll and related liabilities in the books and reconcile them against actual remittances every month.
• Keep HR informed of changes in contribution tables and withholding tax rules.

BIR Tax Compliance

• Prepare, file, and pay all required BIR returns on time through eFPS, eBIRForms, or other BIR-approved channels. These include:
• Monthly: 1601-C, 0619-E, and 0619-F, as applicable
• Quarterly: 1601-EQ with QAP, 1601-FQ, 2550Q (or 2551Q if non-VAT), 1702Q, and the Summary List of Sales and Purchases for VAT-registered companies
• Annual: 1702-RT with audited financial statements, 1604-C, 1604-E, and 1604-F
• Issue BIR Form 2307 to suppliers on time and collect 2307s from customers so tax credits can be claimed.
• Keep the books of accounts registered with the BIR and maintained in the approved format (manual, loose-leaf, or computerized).
• Review the company’s tax positions with the tax adviser, and flag risks and planning opportunities to management.
• Handle BIR letters, notices, and tax audits together with the company’s tax adviser.
• Stay updated on new tax laws and BIR issuances, and explain to management how they affect the company.

Permits, Registrations, and Corporate Compliance (LGU, SEC, BIR)

• Keep a compliance calendar of all permits, registrations, and reportorial requirements, with their deadlines dues.
• Renew the business permit, barangay clearance, and related LGU clearances every January, and pay local business taxes on time.
• Work with the corporate secretary to file SEC reportorial requirements on time, such as the General Information Sheet and audited financial statements.
• Keep BIR registration details current, including the Certificate of Registration, registered books, and registered invoices.
• Update registrations with the BIR, SEC, and LGU whenever company details change, such as address, officers, or shareholders.
• Budget and track all government dues, taxes, and renewal payments so nothing lapses.