Financial Controller

Accountancy Action - Your Specialist Finance Recruitment Partner; City Of London; On-site; GBP 70,000 - 90,000; Full time

Job summary

Accountancy Action - Your Specialist Finance Recruitment Partner is seeking a Financial Controller for a high growth hospitality business in Canary Wharf. You will report to Directors and drive financial control, reporting, and statutory compliance.

The role suits either a Finance Manager/Controller from a SME or a manager from a small practice looking to develop into a Finance Director.

Responsibilities

• Manage day-to-day company accounts
• Assist with financial planning
• Oversee Budget forecasting and cash flow management
• Prepare monthly management accounts with detailed analysis
• Produce weekly Flash Reports on sales, cost of sales, stock and wages
• Assist with annual Statutory Accounts information for auditors
• Prepare and update client budgets as needed
• Control payroll and manage costs against budget with restaurant managers
• Maintain weekly stock sheets and reconcile consumption to sales
• Perform monthly reconciliations of purchases and gross profit in stock software
• Develop and implement improved financial systems and processes
• Analyse and correct payroll and ensurePAYE/NI deductions are accurate
• Produce cash flow reports and manage supplier relationships
• Oversee accounts payable and monthly creditor reconciliations
• Approve monthly payment summaries

Job description

We are currently supporting a high growth business within the Hospitality sector looking for a Financial Controller to join their dynamic team based in Canary Wharf. This role will be reporting directly to the Directors and there is a genuine path to grow to a Finance Director

In this role, you will act as the financial controller for your clients, maintaining accounting records, processing transactions, managing cash flow, and preparing ad hoc financial information. You will also assist with the preparation of statutory accounts.

This role will either suit a Finance Manager/Controller working for a SME or a manager from a small practice looking to develop their career.

Key Duties

• Manage day-to-day company accounts
• Assist with financial planning
• Oversee Budget forecasting and cash flow management
• Management Accounts: Prepare accurate monthly management accounts including full analysis of overheads and balance sheet control accounts (schedules of prepayments, accruals, etc.).
• Flash Reporting: Produce a weekly "Flash Report" to provide a speedy indicator of the previous week’s business performance. This consists of accurate Sales, Cost of Sales, Food & Beverage stock consumption, and accurate wage costs, measured against Budget and Last Year’s performance.
• Assist external advisors with the preparation of information for annual Statutory Accounts, ensuring compliance with relevant accounting standards and deadlines.
• Budgets: Prepare and update client budgets as necessary.

Operational Finance & Cost Control

• Management: Work with Restaurant Managers to control payroll and other costs against the agreed budget plan, highlighting any variances to General Managers on a weekly basis.
• Stock Control: Assist in the design, maintenance, and checking of weekly food, beverage, and consumable stock sheets to ensure consumption reconciles to sales.
• System Reconciliation: Perform monthly reconciliations of purchases and Gross Profit shown in third-party stock control software against accounting records, investigating and correcting any variances.
• Process Improvement: Develop and implement financial systems and processes that improve working efficiency and financial control.

Payroll & Compliance

• Payroll Processing: Analyse and correct the fortnightly/four-weekly payroll for both house and Tronc pay before forwarding to the payroll bureau.
• Check returning payroll to ensure it agrees with authorised amounts. Reconcile accounting records for gross pay, PAYE, and NI deductions to payroll reports.
• Control Accounts: Ensure periodic PAYE and NI payments are correct and reconcile net pay and PAYE control accounts monthly.

Cash Flow & Transaction Management

• Cash Flow: Keep the Directors (and clients) informed of the cash flow situation by producing periodic cash flow reports and managing relationships with suppliers and vendors.
• Purchase Ledger & Banking: Oversee the accounts support & AP team on weekly purchase ledger entries, manage monthly aged creditor reconciliations, and approve monthly payment summaries.