Tax Accountant (Pipeline Requisition) job in Quezon City at Emerson

Duty 1: Value Added Tax (VAT) Filing

• Collate all the VAT records in a calendar month
• Validate the transactions against the supporting documents to determine correct tax application
• Generate and analyze zero-rated transactions
• Prepare and Reverse Charge Mechanism, Export Sales, Goods Imported into the country and Return Form through analysis of zero-rated paid invoices based on the country specific regulation
• Review the draft returns prior sending to Site Controllers for filing and payment
• Reconcile payment and returns to ensure that all valid Input and Output VAT are paid
• Maintain database copy of tax remittance for reference on future audits

Duty 2: Reconciliation of Tax Filings against Payment

• Request copy of the WHT tax Filing from the Tax advisor
• Reconcile payment, WHT Filed and the WHT summary prepared and submitted to the auditor using comparative analysis
• Seek clarification from the tax advisor for any deviation
• Instruct the Auditor to adjust the next month’s remittance based on analysed
results and ensure compliance on the recommendations

Duty 3: Reconciliation and Reporting

Tax Schedules
• Generate summary and details of Tax Account balances
• Update the schedule for the current period transactions and eliminate/knock off offsetting balances
• Ensures that schedules tie up with General Ledger balance
• Investigate and propose adjusting entries affecting profit and loss or balance sheet to correct account balances
• Upload and certify details of schedules in Blackline

Duty 4: Reporting and Reconciliation

Bank Reconciliation
• Reconciles the bank and book transaction balance by verifying discrepancies, resolving disputes, formulating alternative solutions on issues encountered. Analyses and Classifies the reconciling items based on the nature of the transaction
• Drives implementation of recommended solution to the site POC, Credit Controller, Regional accountants and Payments team contact for aged reconciling items. (Deposit in transit, wrong payment to vendor, approval on adjusting entries from AP)
• Prepares and post the journal entry related to the identified reconciling items (bank charges, forex difference, cash pool transactions)
• Communicates with Site POC, Regional Accountants and Accounts payable contact any reconciling item in the bank reconciliation
• Escalates resolution of outstanding reconciling items based on escalation matrix if no responses on the POC is received
• Secures commitment on critical deliverables from different stakeholders such as customers, site finance heads and approver for issuance of credit/debit note to offset, approval of variance to pay, etc

Audit
• Prepares and provide audit requirements to the site and auditors

Duty 5: Fixed Assets

• Adds the asset to the Fixed asset register and performs depreciation run
• Performs Fixed Asset (including CIP) reconciliation to determine the Assets for Addition (verify invoice match detail accuracy, supporting docs, validate date in use, GL and FA module, etc.).
• Analyses the fixed asset clearing account to validate assets for additions.
• Investigates and collates the required information (Appropriation request, asset details) before capitalization
• Drives implementation of recommended solution to the proper persons (Accounts payable, Business unit controllers or site POC) for items with incomplete details, or items not for asset addition
• Performs adjustments to the fixed asset register (transfers, reclassifications and retirements)
• Reviews, clarifies and evaluates information provided by the site POC (for transfers, reclassifications and retirements) to ensure that the action performed will achieve the desired result.
• Drives actions to the proper persons (Business unit controllers or site POC) for items over the Appropriation request budget
• Reconciles the Fixed asset ledger balance with the General ledger balance and resolves differences by verifying discrepancies, resolving disputes, formulating alternative solutions on issues encountered. Analyzes and Classifies the unposted items based on the nature of the transaction.
• Prepares and analyze monthly spend report for fixed assets by comparing budget allocated versus capitalized fixed asset

Duty 6: Month-end Activities

Prepaid Amortization

• Reconciles oracle against schedule
• Investigate and Collate details/information required to amortize the balance
• Recommends adjustment to the Site affecting profit and loss and instructs them to restate balance sheet

Accruals
• Prepare schedule by downloading details and summary of balances, and Reconcile against Oracle by matching details against trial balance
• Analyses recorded invoices to determine correctness and validity of the as-of balance and verify if additional recognition is required by considering the details of the period to date transactions via AP module or General Ledger inquiry
• Recommends adjustment to the Site affecting profit and loss and instructs them to restate balance sheet

Revaluation
• Verify reasonableness of the revaluation result through comparison with prior period result
• Sends the file to the Local and Site POC

Accounts Receivable Trade Recon
• Reconciles the Accounts Receivable Trade balances in General Ledger (GL) against the Subsidiary Ledger (SL) and analyses difference through investigation of manual journal or non-AR related transactions posted in the GL
• Provides resolution and adjustment on the identified difference

Balance Sheet and Profit and Loss Allocation
• Maintains tracker and databases to ensure that all transactions are recorded and verifies with the counterparts for further entries
• Run the auto allocation process and check the balances
• Investigates unallocated balances using comparative analysis
• Countercheck balances upon posting of the manual allocation
• Provide go signal to the Site/RA to proceed with their Financial upload
• Raise to Oracle team to set-up allocation for accounts that has no auto allocation set-up