Key Responsibility Areas (KRA) & Key Performance Indicators (KPI) for Accounting Assistant
1. Financial Data Entry and Management
KRA: Accurate and timely entry of financial data to ensure proper record-keeping and reporting.
Short Description: Maintain precise financial records.
- KPI 1: Number of errors in data entry per month.
- KPI 2: Timeliness in completing financial reports.
- KPI 3: Accuracy in reconciling accounts.
- KPI 4: Efficiency in processing invoices.
2. Budget Preparation and Monitoring
KRA: Assist in budget creation and monitor expenses to ensure adherence to financial plans.
Short Description: Support budgeting processes.
- KPI 1: Variance analysis between actual and budgeted expenses.
- KPI 2: Timely identification of budget discrepancies.
- KPI 3: Efficiency in cost-saving initiatives.
- KPI 4: Accuracy in forecasting financial needs.
3. Accounts Payable and Receivable Management
KRA: Handle accounts payable/receivable tasks efficiently to maintain good vendor/client relationships.
Short Description: Manage payables and receivables.
- KPI 1: Days sales outstanding (DSO) for accounts receivable.
- KPI 2: Percentage of discounts captured on early payments.
- KPI 3: Timeliness in processing vendor invoices.
- KPI 4: Reduction in outstanding payables aging.
4. Financial Reporting and Analysis
KRA: Generate financial reports and analyze data to provide insights for decision-making.
Short Description: Analyze financial performance.
- KPI 1: Accuracy of financial reports produced.
- KPI 2: Timeliness in preparing month-end reports.
- KPI 3: Quality of financial analysis provided to management.
- KPI 4: Contribution to cost reduction strategies based on analysis.
5. Tax Compliance and Reporting
KRA: Ensure compliance with tax laws and regulations while preparing and filing tax returns.
Short Description: Maintain tax compliance.
- KPI 1: Accuracy of tax filings and submissions.
- KPI 2: Timeliness in meeting tax deadlines.
- KPI 3: Compliance with updated tax laws and regulations.
- KPI 4: Efficient resolution of tax-related issues.
6. Audit Support and Documentation
KRA: Assist in audit preparations and maintain organized documentation for internal and external audits.
Short Description: Facilitate audit processes.
- KPI 1: Completion of audit documentation on time.
- KPI 2: Accuracy and completeness of audit trail documentation.
- KPI 3: Feedback from auditors on the quality of documentation.
- KPI 4: Implementation of audit recommendations for process improvement.
7. Financial Software Management
KRA: Proficiently use financial software to streamline accounting processes and enhance efficiency.
Short Description: Optimize financial software utilization.
- KPI 1: Mastery of financial software functionalities.
- KPI 2: Reduction in manual entries through software automation.
- KPI 3: Quick resolution of software-related issues.
- KPI 4: Implementation of software upgrades for improved performance.
8. Cash Flow Management
KRA: Monitor cash flow activities and forecast cash needs to ensure liquidity for business operations.
Short Description: Maintain optimal cash flow.
- KPI 1: Accuracy of cash flow projections.
- KPI 2: Timely identification of cash flow bottlenecks.
- KPI 3: Reduction in outstanding receivables impacting cash flow.
- KPI 4: Efficiency in managing cash disbursements.
9. Financial Policy Adherence
KRA: Ensure compliance with financial policies and procedures to maintain internal controls.
Short Description: Uphold financial policies.
- KPI 1: Adherence to financial policies as per audit findings.
- KPI 2: Timely implementation of policy updates.
- KPI 3: Zero instances of non-compliance with financial regulations.
- KPI 4: Efficient training of team members on policy changes.
10. Continuous Professional Development
KRA: Engage in ongoing learning and development activities to enhance accounting skills and knowledge.
Short Description: Pursue professional growth.
- KPI 1: Participation in relevant accounting workshops or training sessions.
- KPI 2: Acquisition of new accounting certifications or qualifications.
- KPI 3: Application of new accounting knowledge in daily tasks.
- KPI 4: Feedback from supervisors on the impact of professional development on performance.
