Asset Accountant at Sanlam Group

The Finance Shared Services function is responsible for delivering the following services to Sanlam Life and Savings, as well as other Clusters within Sanlam that make use of SAP S/4 Hana and related finance systems

• The execution of shared financial transactions through the Finance Shared Services
• Drive operational excellence and efficiency through finance process and technology optimisation
• Delivering an efficient financial control and compliance environment for SAP S/4 Hana and related finance systems
• Delivering on the consolidated financial reporting requirements for Sanlam Life and Savings
   

This position will be responsible to record the cost of newly acquired fixed assets both tangible and intangible, track existing fixed assets, record depreciation, and account for the disposition of the fixed assets. This position will further ensure that the asset register is up to date and available to the General Accounting Manager.

What will make you successful in this role?

Asset Register Review

• Review requests (SRS) to create asset master data and confirm if all information entered is correct and reject if it is not completed correctly
• Review requests (SRS) on a monthly basis to change asset master data to ensure the master data is accurate and valid to be used by the business unit
• Review requests (SRS)on a monthly basis to block an asset on the existing asset master data to ensure no further postings are made once a project is completed
• Review requests (SRS) on a monthly basis to delete asset master data on the system that may be created with incorrect details and ensure the master data is up to date with correct entries
• Review requests (SRS) on a monthly basis to create asset sub-numbers on the system and ensure they are linked to the correct main asset master record
• Review requests (SRS) to transfer an asset to a new asset master and approve or reject the transfer based on the sufficiency of the information provided

Depreciation Run

• Carry out regular test depreciation runs on the system to mitigate and resolve any errors or duplications detected and to ensure the actual depreciation run report is accurately captured
• Manage depreciation run activities and ensure all errors or anomalies detected from the system are solved immediately
• Schedule and run year-end closing reports in line with the close calendar and submit for review and approval by the Manager
• Receive scrapping requests from the Cost Centre Managers on the assets that require to be retired off the system
• Remove the assets in line with the request by the Cost Centre Manager and post the asset retirement by scrapping with the details of the asset to execute the transaction
• Determine sales price of all assets that are in the retirement process from the relevant teams that have requested the assets to be retired and ensure all asset details are indicated correctly
• Reverse a journal entry when an incorrect journal entry has been posted and review the report of all transactions reversed to ensure the accuracy and validity of the transactions
• Post the transfer of assets within a company code when there is a risk of an incorrect or invalid transfer of fixed assets and ensure accurate postings are made on the correct company codes
• Post all post-capitalisation acquisitions of fixed assets that were omitted in the past and capture additional amounts for every asset
• Prepare and post write-ups for any subsequent change to the valuation of an asset and submit for review and approval
• Prepare and post depreciation manually for both unplanned and planned depreciation and ensure that controls are added to mitigate the risk of incorrect/invalid posting
• Recalculate values for any configuration changes made on the depreciation keys or terms and ensure he planned annual depreciation is using terms that are valid for the report

Qualifications
Qualification and Experience

• Bachelor’s degree in Commerce, Accounting or Finance or relevant field from a recognised institution

Experience

• 3 years’ working experience in a similar role performing basic accounting principles and bookkeeping activities
• 2 years working knowledge of financial transactions and journals related to asset transactions
• 1 year experience compiling asset registers in IFRS / GRAP/ SAP environment