Finance Administrator Job Description Uk

A Finance Administrator in the UK plays a vital role in ensuring the smooth and efficient operation of an organization's financial activities. This entry-level to mid-level position supports the finance department by handling a variety of administrative and accounting tasks.

Key Responsibilities Typically Include:

• Processing Invoices and Payments: This involves accurately entering invoices into the accounting system, verifying their accuracy against purchase orders and delivery notes, and preparing payments to suppliers via bank transfer or cheque. They may also be responsible for resolving invoice discrepancies and following up on outstanding payments.
• Managing Accounts Payable and Receivable: Maintaining accurate records of both accounts payable (what the company owes) and accounts receivable (what is owed to the company) is crucial. This includes reconciling supplier statements, chasing overdue payments from customers, and responding to supplier and customer inquiries.
• Bank Reconciliations: Regularly reconciling bank statements with internal accounting records to ensure accuracy and identify any discrepancies or errors. This is a critical control process to prevent fraud and ensure accurate financial reporting.
• Expense Processing: Reviewing employee expense claims for compliance with company policy, processing payments, and maintaining accurate records of expenses.
• Data Entry and Record Keeping: Accurately inputting financial data into accounting systems, maintaining organized files (both physical and electronic), and ensuring the security and confidentiality of financial information.
• Supporting Month-End and Year-End Closing: Assisting with the preparation of month-end and year-end financial reports, including journal entries, reconciliations, and supporting documentation.
• General Administrative Support: Providing general administrative support to the finance department, such as answering phones, managing mail, ordering office supplies, and scheduling meetings.
• VAT Returns: Assisting with the preparation and submission of VAT returns in compliance with HMRC regulations.
• Compliance: Ensuring compliance with relevant financial regulations and company policies.

Skills and Qualifications:

• Education: Typically, a GCSE in Maths and English is essential, with many employers preferring A-Levels or a relevant vocational qualification (e.g., AAT). Some roles may require a degree in accounting, finance, or a related field, especially for more senior positions.
• Experience: Prior experience in an administrative or accounting role is often preferred, but some entry-level positions may be available for recent graduates or those with limited experience.
• Technical Skills: Proficiency in using accounting software (e.g., Sage, Xero, QuickBooks) and Microsoft Office Suite (especially Excel) is essential.
• Attention to Detail: A keen eye for detail is crucial to ensure accuracy in data entry and financial reporting.
• Organizational Skills: Strong organizational and time management skills are necessary to manage multiple tasks and meet deadlines.
• Communication Skills: Excellent written and verbal communication skills are needed to interact with colleagues, suppliers, and customers.
• Problem-Solving Skills: The ability to identify and resolve financial discrepancies and other issues.
• Discretion and Confidentiality: The ability to handle sensitive financial information with discretion and maintain confidentiality.

Career Progression:

With experience and further training, a Finance Administrator can progress to more senior roles such as Finance Officer, Assistant Accountant, or Management Accountant.