Finance Path to Success
Level 1
Accounts Payable
- Record all financial transactions, including accounts payable and receivable, cash receipts, and disbursements.
- Ensure all financial records are accurate and up-to-date.
- Manage the organization's accounts payable and receivable by invoicing, issuing payments, and reconciling accounts.
- Assist in the preparation of budgets by gathering and analyzing financial data, and help with the preparation of financial reports, such as balance sheets and income statements.
- Provide administrative support to the accounting department, including answering phone calls, responding to emails, and filing documents.
Accounts Receivable
- Process accounts and incoming payments in compliance with financial policies and procedures
- Perform day to day financial transactions, including verifying, classifying, computing, posting and recording accounts receivables’ data
- Prepare bills, invoices and bank deposits
- Reconcile the accounts receivable ledger to ensure that all payments are accounted for and properly posted.
- Verify discrepancies and resolve clients’ billing issues
- Facilitate payment of invoices due by sending bill reminders and contacting clients
- Generate financial statements and reports detailing accounts receivable status
Certified Payroll
- Prepare and submit paper payroll checks for employees
- Collect banking information for direct deposit setup and initiate deposits on paydays
- Have a knowledge of and keep current with the taxation of salaries, benefits, and other factors
- Process and monitor garnishment orders and other issues that impact payroll specifications
- Maintain and document all payroll records
- Reconcile the general ledger regarding payroll transactions
- Detect and process issues with uncollected payroll
- Respond to employee inquiries regarding payroll issues or concerns
Level 2
Financial Controller
- Timely and accurate financial reporting which includes performing the month-end and year-end closes and maintaining the appropriate supporting schedules.
- Manage cash flow on a weekly, monthly, and annual time scale.
- Manage lines of credit.
- Manage accounting staff, including:
- Ensuring timely, accurate recording and payment of all employees
- Ensuring timely, accurate recording and payment of all vendor invoices
- Manage cost reporting to operations using percent of completion accounting principles and practices.
- Manage and continually improve the use of financial software for greater efficiency, timeliness, and accuracy.
- Ensure timely compliance reporting and payment of taxes and union benefits.
- Manage accounts receivable and collections.
- Manage yearly insurance RFQ and audits.
- Manage any public agency.
- Work in tandem with Waters Construction Auditors to ensure timely issuance of annual audited financial statements.
- Provide timely and insightful analytical support to company leadership to support operational decision-making.
- Manage IT consulting firm to ensure satisfactory availability and uptime of hardware and software systems used to operate the company.
Level 3
CFO
- Take responsibility (either directly or via staff) for all cash management, investments, insurance, budgeting, and financial reporting, and help drive the company’s financial strategy and hiring needs
- Coordinate development of annual operating, capital, and program budgets, as well as reporting for the same
- Ensure cash flow is compatible with operations by overseeing day-to-day accounting, recording, reporting, and internal-control activities of the organization
- Develop and implement best practices and tools to ensure a well-controlled yet flexible organization that has strong fiscal management, project coordination, cross-team communications, and workflows
- Comply with national and local financial requirements by studying existing and new legislation and taking appropriate action
- Work with senior managers to efficiently develop budget proposals, provide access to project finance information, and ensure contract/grant compliance and reporting
- Research revenue opportunities and economic trends, analyze internal operations, and identify areas for cost reduction and process enhancement
- Perform risk management through analysis of company liabilities and investments, and evaluate and manage capital structure and fundraising initiatives
- Monitor business performance with tracking tools, establish corrective measures as needed, and prepare detailed reports for earnings calls, management team, and rest of company
- Manage finance personnel and oversee financial IT systems, ensuring compliance with relevant regulatory entities (ex: Financial Accounting Standards Board, Internal Revenue Service, state attorneys general)