Phumelele Sithole

• Work closely with organizational leadership and board of directors to guide operational strategy.
• All Corporate Governance related responsibilities
• Secretary of the EE, Training, Ethics and Social Committee
• Approval of Employment Equity Plans before submission to Dept. of Labour.
• Compile Employment Equity Plans before 15 January of every year.
• Responsible for any King IV related matters and South African Companies Act and Regulations
• Responsible for all other Company Secretary related duties such as taking board minutes, writing and sending out Agendas and communicate with the board of directors
• Write out company policies
• Assist with Employment Equity Plan and Reporting
• Managed a diverse team of professionals, fostering a collaborative work environment for increased productivity.

Full Financial Accounting Functions

• Managed relationships with external auditors effectively ensuring positive outcomes during annual audits.
• Input financial data and produced reports using PASTEL EVOLUTION.
• Tracked business revenue and expenditures and reconciled accounts to maintain high accuracy.
• Financial Reporting and Analysis, PowerPoint Presentations
• Manage Accounts Payable: Oversee COD checks, age analysis, overdue follow-up, recons, and processing
• FNB Payments: Review, authorize, and release all payments
• SARS: VAT calculations, VAT 201, and EMP 201 submissions
• General Ledger: Control accounts, trial balance reconciliation, month-end journals, and fixed asset register updates
• Journal Review: Approve salary, ETI, loan interest, provision, and depreciation journals
• BEE Procurement: Review reporting done by Bookkeeper
• Management Reports: Submit income statements for trolleys, merchandising, and logistics
• Policy Support: Assist in writing departmental policies
• Inventory: Manage Inventory team
• Audit Support: Coordinate with auditors
• Operations: Attend Operations Manager meetings
• Reconciled account information and reported figures in general ledger by comparing to bank account statement each month.
• Reduced month-end closing time by optimizing the reconciliation process for bank and credit card accounts.
• Implemented a comprehensive fixed asset tracking system that improved overall accuracy and depreciation calculations.
• Compiled general ledger entries on short schedule with 100% accuracy.

• Documented cash, credit, fixed assets, accrued expenses, and line of credit transactions.
• Detected and corrected mistakes early on and implemented systems to avoid recurring issues.
• Assisted in reducing outstanding accounts receivable balances by diligently following up on overdue invoices.
• Improved financial reporting accuracy through meticulous data analysis and reconciliation efforts.
• Streamlined month-end closing processes, resulting in reduced time spent on financial reporting tasks.
• Enhanced financial decision-making capabilities by providing timely, accurate information to management through regular performance reports.
• Collaborated with external auditors during the annual audit process to provide necessary documentation and address any concerns or findings promptly.
• Reduced financial risks by implementing robust internal controls and monitoring mechanisms.
• Facilitated smoother audit processes by maintaining organized and comprehensive financial documentation.
• Enhanced team productivity and knowledge by leading regular training sessions on accounting best practices and software updates.

Team Lead

• Team Management: Lead 9 direct reports across Creditors, Debtors, Junior Accountant/Bookkeeper, and 3 Interns.
• Policies and Governance: Ensure compliance with company financial policies and promote good corporate governance.
• General Ledger: Prepare and review provisions, accruals, tax calculations, journals, and reconciliations in line with IFRS.
• Budgeting: Support Cluster Financial Manager with budget preparation and analysis.
• Financial Control: Maintain internal financial controls, oversee financial statements, inter-company reconciliations, and provide management with financial insights.
• Audit: Manage audit processes, compile tax/audit packs, and assist with VAT journals.
• Accounts Receivables: Supervise Debtors team, oversee credit control, collections, and daily age analysis review.
• Accounts Payables: Oversee Creditors Dept., authorize reconciliations, and handle import payments.
• Cash Management: Full cash book, bank reconciliations, and petty cash oversight.
• HR and Payroll: Assist with HR-related duties, payroll input, reconciliations, and payroll deductions.
• Financial Reporting: Assist in preparing monthly management accounts and cash flow schedules.
• Employment Equity Committee: Member and support HR in minutes documentation.

• Handled day-to-day accounting processes to drive financial accuracy.
• Documented cash, credit, fixed assets, accrued expenses, and line of credit transactions.
• Reconciled accounts and reviewed expense data, net worth, and assets.

Financial Control

• Prepare and review monthly management accounts, including comparative results and variance analysis for 20+ stores (branches 60-79).
• Monitor budget performance, managing expense controls and variances.
• Liaise with internal and external auditors and assist as needed.
• Cash Book: Perform daily bank reconciliations, ensuring accurate receipts and payments; liaise with Standard Bank for discrepancies.
• Identify variances and establish preventive controls.
• Oversee general ledger and creditors control (minimum creditors book value of R40m).
• Manage bad debt provisions, credit notes, and write-offs.
• Conduct expense reconciliations and implement internal controls.
• Review and analyze financial data to identify misallocations or variances.
• Support product managers with sales reporting queries.

Month-End

• Oversee COD payment runs, other creditors’ payments, and reconciliations.
• Compare actuals to budget and highlight significant discrepancies.
• Prepare the monthly consolidated financial reporting pack.
• Upload creditor payments on CATS (Standard Bank).
• Review creditor and debtor age analysis, report on accounts over 60 days.
• Compile and analyze income statements and management accounts for department heads.
• Complete general ledger reconciliations, provisions, accruals, and inter-company reconciliations.
• Perform monthly journal entries and consolidations.

Senior Creditors Clerk (Midas Group)

• Managed creditors with a book value of approximately R80 million.
• Oversaw large accounts, handling supplier queries.
• Promoted to Branch Management Accountant after one year.

• Senior Creditors Clerk (Toyota Prospecton)- 6 Months Temp
• Admin Clerk Meteir Concrete (Durban- 3 months Temp Contract)
• Godrej Group of Companies, t/a Rapidol (Pty) Ltd- 1.5 Years
• Finance Officer (Prince Mshiyeni Memorial Hospital Umlazi) - (Casual Worker)1.5 Years
• Senior Creditor's Clerk (Synthomer Revertex- Durban), 6 months