Proposed Role & Responsibilities
To strengthen financial control and ensure accurate reconciliation across all stores, the following process requires a dedicated resource to manage daily sales validation, cash reconciliation, and compliance.
Key Responsibilities
Daily Sales Monitoring
Track daily store sales by payment method (cash and card).
Ensure stores complete their daily reconciliation file before central validation.
Store Reconciliation Control
Maintain a centralized reconciliation file covering all stores, updated daily.
Validate store submissions including:
Cash sales
Card sales
Variances and explanations
Supporting documentation.
Documentation & Visibility
Ensure all reconciliation files and variance documentation are uploaded to the shared SharePoint folder accessible to Finance and Operations.
Cash Collection & Banking Control
Manage the process with the cash collection agency across all cities.
Review daily agency deposit reports and reconcile them with bank statements.
Ensure accurate identification of store codes and deposit amounts.
Sales & Deposit Matching
Match store reconciliation, agency deposit reports, and bank statements daily.
Investigate and resolve discrepancies.
Card Payment Control
Ensure card transactions are properly recorded through system automation or control files before uploading to SAP/JDE.
Currency Handling
Ensure local and foreign currency deposits are reported and reconciled separately.
Monthly Financial Reconciliation
Maintain a consolidated reconciliation file and ensure monthly alignment between Cash on Hand and system balances.
Operational Follow-Up
Conduct weekly follow-ups with Operations to ensure timely submission and accuracy of reconciliation files.
Compliance Management
Track shortages, ensure supporting documentation is uploaded, and enforce compliance with internal financial procedures.