Junior Financial Analyst

1 week ago

Karachi, Sindh, Pakistan Banyan Software Full time

Banyan Software provides the best permanent home for successful enterprise software companies, their employees, and customers. We are on a mission to acquire, build and grow great enterprise software businesses all over the world that have dominant positions in niche vertical markets. In recent years, Banyan was named the #1 fastest-growing private software company in the US on the Inc. 5000 and amongst the top 10 fastest-growing companies by the Deloitte Technology Fast 500. Founded in 2016 with a permanent capital base setup to preserve the legacy of founders, Banyan focuses on a buy and hold for life strategy for growing software companies that serve specialized vertical markets.

Job Profile:

This is an exciting and entrepreneurial opportunity to join a fast-paced software consolidator with a very significant growth trajectory. The Junior Financial Analyst will report to the Finance Manager or designate. This role will focus on partnering with operating and finance colleagues to support small high-quality software businesses owned by Banyan Software. The position is ideal for an individual that has the interest and aptitude to be involved in all aspects of finance operations, including revenue recognition, accounts payables and expenses, cash management, financial reporting, and analysis, as well as systems. This finance group also aims to play a "value added" role by leveraging financial and other data to drive shareholder value.

The role will be required to provide overlap support to our verticals, and will follow a time shift of 2:00pm - 10:00pm, Pakistan Standard Time.

Job Responsibilities:

The scope of this role is bifurcated into two areas:

  1. Accounts Receivable (AR) Responsibilities:
    • Generate and send accurate customer invoices in alignment with the billing schedule using ERP systems.
    • Record cash receipts and payments received from customers, ensuring they are applied accurately to the corresponding invoices in ERP.
    • Monitor and manage the AR aging report to ensure timely collections and identify overdue accounts for follow-up.
    • Investigate and resolve any discrepancies in AR, including unallocated receipts or customer disputes.
    • Identify and book AR-related accruals during the month-end process, ensuring accurate financial reporting.
    • Assist in setting up new customer accounts and maintaining accurate and up-to-date customer records in ERP.
    • Coordinate with sales and operational teams to address issues affecting AR processes and resolve customer queries.
    • Perform monthly AR account reconciliations and ensure alignment with the General Ledger (GL).
    • Prepare and provide monthly AR reports and analysis to management, highlighting collection trends, overdue accounts, and areas requiring attention.
  2. Other Finance & Accounting Responsibilities:
    • Record daily financial transactions and complete the posting processes within ERP following standard operating procedures (SOPs).
    • Process vendor invoices and payments within ERP, ensuring accurate coding and adherence to timelines.
    • Investigate and resolve posting errors for both AR and Accounts Payable (AP) transactions in ERP.
    • Reconcile AR/AP sub-ledgers to the GL on a monthly basis.
    • Ensure timely vendor payments and determine the need for month-end accruals based on recurring expenses.
    • Download and update bank transactions from the online banking portal at least twice weekly (on Mondays and Thursdays).
    • Perform weekly cash reconciliations (on Fridays) and post all credit card charges from statements according to SOPs.
    • Ensure appropriate backup documentation for all employee expenses.
    • Manage day-to-day accounting activities in strict adherence to organizational policies and procedures.

Job Requirements:

  • Minimum of 1-2 years of experience in a finance/accounting role
  • College degree in business, accounting, or finance will be preferred.
  • Accounting designation or working towards a designation preferred
  • Solid working knowledge of accounting principles and practices
  • Experience with NetSuite, Sage Intacct and/or QuickBooks is an asset.
  • Excellent attention to detail and ability to manage multiple priorities.
  • Highly motivated and energetic with interest in entrepreneurship, software, and finance

Diversity, Equity, Inclusion & Equal Employment Opportunity at Banyan: Banyan affirms that inequality is detrimental to our Global Teams, associates, our Operating Companies, and the communities we serve. As a collective, our goal is to impact lasting change through our actions. Together, we unite for equality and equity. Banyan is committed to equal employment opportunities regardless of any protected characteristic, including race, color, genetic information, creed, national origin, religion, sex, affectional or gender identity

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