Management accountant

We are currently hiring for the role of Management Accountant to work within the busy finance team at Wexas Ltd, taking on responsibility for production of the monthly management accounts along with other finance related tasks.

Job title: Management Accountant

Salary: On application

Applications to: [email protected]

Company overview

Wexas Ltd is a travel company with a pre‐Covid Gross Turnover of c£47m. The Company operates as two distinct divisions, a Corporate Division which operates as a TMC (Travel Management Company) and a Leisure Division which operates as both a Tour Operator and Travel Agent. The Leisure Division includes the Best Served Scandinavia brand name, The Luxury Holiday Company brand name along with the main brand name of Wexas Travel.

Wexas Ltd is part of a group of companies ‐ Wexas Investments Ltd, a sister company which owns and manages investment properties and Rivers (Holdings) Ltd, the parent company for both Wexas Ltd and Wexas Investments Ltd.

With Covid travel restrictions now being eased Wexas Ltd expects travel demand and turnover to recover in 2022 and is focused on returning to, and growing from, pre‐Covid levels for both turnover and profitability. Wexas’ Head Office is based in Southwark, London and has a smaller office based in Bournemouth.

About the role

The Management Accountant position is a new role at Wexas and will report to the Finance Director. This role has been created to support the Finance Director and take on responsibility for production of the monthly management accounts along with other finance related tasks. This role will be responsible for both Wexas Ltd and Wexas Investments Ltd with separate accounts being produced for each entity (they have their own separate ledgers within Sage200).

The different divisions have their own reservation / mid office & back‐office systems (Travelink for Leisure and AGM for Corporate). All travel turnover, related cost of sales along with debtor and creditor management / reporting is carried out within these systems with overhead accounting and system consolidation carried out in Sage 200. This role will be responsible for ensuring that each system is fully reviewed, reconciled and correctly reported. The role will also prepare the various regulatory reports that are required.

Business partnering budget holders, especially IT, Marketing and Other income will be required, working with both the finance team and other internal teams to ensure items are both correctly recorded and fully understood. Providing meaningful variance analysis on monthly accounts and similarly supporting the forecast / budgeting process with up‐to‐date information, not just for the past but also expectations for the future.

Financial control will also form part of this role, ensuring all balance sheet accounts are fully reconciled and supporting schedules produced. There will be a monthly review with the Finance Director where risks and opportunities should be highlighted and discussed.

This role will be the number two in finance and as such will at times need to deputise for the Finance Director, working alongside a credit controller and three accounts assistant roles.

This role will be based in the London office with potential for Hybrid working (part office part home working), normal hours are Monday to Friday, 09:00 to 17:30 with a one hour lunch break.

About the candidate

• Qualified Accountant (ACA, ACCA, CIMA or equivalent), experience working within a Tour Operator environment is desirable. A stopped / late‐stage studier or someone qualified by experience will be considered where they have relevant Travel Industry experience working within a similar finance role
• Relevant and solid experience of producing monthly management accounts within a multi‐currency environment, preparing VAT returns, performing inter-company / inter system reconciliations and general balance sheet reconciliation, revaluation & control.
• Experience of Travel Industry regulatory reporting requirements (CAA & ABTA, PTR’s) along with TOMS VAT and IATA BSP is desirable but not essential
• Able to communicate well across functions and departments with strong attention to detail and good presentation skills, both orally and in writing
• Good Excel (PIVOT tables, vlookup, sumifs, external data queries) and general system skills

Main skills & processes

• Day to day finance related system administration for AGM (opening / closing periods etc)
• Day to day management of banking platforms along with day to day bank contact
• Day to day reconciliation of credit cards, reconciliation and schedules of items that require
• action along with deployment of virtual cards and resolving any issues that arise
• Daily cashbook reconciliation, ensuring the team are aware of their outstanding postings
• Review of open items within AGM, allocation and action where required
• Pre month end review of Travelink, identifying & resolving corrections required
• Month end cut off reporting & system extracts from Travelink & AGM (time critical)
• Review of commission receipts in month, allocating by journal to Leisure & Corporate
• Review all postings within Sage and identify any items that require action (prepayments etc)
• \Determine & journal cut off adjustments, business partner budget holders for non COS
• Maintain fixed asset registers, create and process depreciation journals each month
• Reconcile intersystem and inter-company accounts
• Reconcile BS and where required process FX revaluations, produce supporting schedules
• Review P&L to ensure all variances are fully understood, produce pack for review with FD
• Download IATA BSP files, convert transaction data into reconciliation packs and verify values
• Prepare regulatory reporting pack and reconcile back to monthly & YTD management A/c’s
• Identify different regulatory splits of client monies held in advance
• Prepare monthly CAA APC submission including future departures
• Prepare monthly CAA RCN submission including total value outstanding
• Prepare quarterly ABTA return
• Prepare & determine quarterly TOMS VAT calculation and prepare overall VAT return
• Assist with annual regulatory renewal process for both the CAA ATOL licence and ABTA
• Other finance related work to support the Finance Director, deputising where required