Accounting Associate Sample Clauses
The 'Accounting Associate' clause defines the role, responsibilities, and expectations for an individual or entity designated as the accounting associate within an agreement. Typically, this clause outlines the specific accounting tasks to be performed, such as maintaining financial records, preparing reports, or managing invoicing and payments. It may also specify qualifications required for the role or reporting lines within the organization. The core function of this clause is to clearly allocate accounting duties and ensure accountability, thereby promoting accurate financial management and reducing the risk of misunderstandings regarding financial responsibilities.
Accounting Associate. The Accounting Associate has duties and responsibilities as follows:
1. Serving as LSNYC’s primary contact to vendors; maintaining purchase orders and vendor files;
2. Processing all of LSNYC’s contractual agreements and purchasing in excess of $500, i.e. reviewing all paperwork for each contract/purchase, entering data into accounting software and tracking through end date; working closely with accounts payable, grants management and program staff;
3. Ensuring purchase procedures are accurate, in compliance with federal regulations relating to procurement as stated in OMB circular-A110 and related cost accounting guidelines;
4. Periodically updating staff on current procurement procedures and policies;
5. Maintaining fixed asset accounts and depreciation schedules;
6. Maintaining detailed schedule of equipment leases; preparing note for year- end audited statements;
7. Performing monthly reconciliations and communications regarding Escrow accounts;
8. Performing monthly reconciliation of revolving accounts;
9. Performing monthly reconciliation of general operating account;
10. Assisting in year-end financial audit and preparation;
11. Acting as back-up in the area of Accounts Payables.
Accounting Associate. The Accounting Associate has duties and responsibilities as follows:
1. Serve as LSNY’s primary contact to vendors; maintain purchase orders and vendor files;
2. Process all of LSNY’s contractual agreements and purchases in excess of $500, i.e. review all paperwork for each contract/purchase, enter data into accounting software and track through end date; work closely with accounts payable, grants management and program staff;
3. Ensure purchase procedures are accurate, in compliance with federal regulations relating to procurement as stated in OMB circular-A110 and related cost accounting guidelines;
4. Periodically update staff on current procurement procedures and policies;
5. Maintain fixed asset accounts and depreciation schedules;
6. Maintain detailed schedule of equipment leases; prepare note for year-end audited statements;
7. Perform monthly reconciliations and communications regarding Escrow accounts;
8. Perform monthly reconciliation of revolving accounts;
9. Perform monthly reconciliation of general operating account;
10. Assist in year-end financial audit and preparation;
11. Act as back-up in the area of Accounts Payables.