Milicent Stols

Widely experienced and goal-oriented Accounts Payable Manager and Leader with a demonstrated track record of managing large teams.

Preparation and analysis of financial reporting to forecast financial position.

Proven expertise in driving efficiency and productivity through evaluation of financial management systems and implementation of process improvements.

Talented leader directing Accounts Payable and financial management teams to support achievement of overall corporate goals and objectives.

Core competencies include

• Understanding and applying Accounts Payable Managerial skills
• SAP and BEST – Super user on Accounts Payable
• Analysing and reporting on expense variances. Actual vs. Budget
• Cash Management and forecasting
• Budget assistance
• Preparation of training manuals

  Accounting disciplines GAAP, SOX, Corporate Governance

• Raising and managing provisions and accruals
• Legislation Compliance
• Efficiency Improvements
• Full creditors function
• Improvement mindset
• Attention to detail and ability to work accurately and deliver quality outputs
• Strong service delivery ethic
• Good problem-solving skills
• Ability to work under pressure and meet tight deadlines
• Strong interpersonal, communication, influencing and relationship-building skills

I provide excellence – I expect excellence.

Unitrade Management Services, Johannesburg, South Africa 

• Creditors/Accounts Payable Manager. 22 Feb 2018 to 31 March 2023 

• Report directly to the Finance Executive
• Manage a team of 13
• Manage cashflow stringently on a daily basis – income vs. expenditure.
• Forecast monthly expenses timely and accurately in line with income avoiding overdraft situations
• Manage credit limits in line with monthly purchases 
• Reporting on Creditors functions balancing GL to AP
• Estimated book value R500 Million
• Manage claims and rebates raised and ensure resolution
• Paperless environment through improved efficiencies 
• Plan and organise own and subordinate’s workflow balancing the management of tasks Deadline environment enforced
• Prepare and provide training material 
• Ensure on the job training 
• Manage and ensure change.
• Discuss career planning
• Succession planning.
• Interview and recruit.
• Ensuring the accuracy and management of the accounts payable Masterfile 
• Authorise bank entries
• Sign off payments 
• Authorise recons for payment.
• Segregation of duties 
• Adhere to formal controls 
• Minimising fraudulent activities.

PROFESSIONAL EXPERIENCE

JD Group (Pty) Ltd, Johannesburg, South Africa

• Creditors/Accounts Payable Manager. 02 March 2012 to 21 Feb 2018 

• Report directly to the Finance Executive
• Manage a team of 15.
• Reporting on Creditors functions balancing GL to AP
• Plan and organise my own and subordinate’s workflow 
• Balance the management of tasks and staff to meet all deadlines daily.
• Provide training 
• Identify learning gaps and follow up with additional training.
• Discuss career planning, 
• Prepare and provide training material 
• Interview and recruit staff members.
• Responsible for ensuring the accuracy of the accounts payable masterfile 
• Authorise bank entries 
• Sign off payments as a final signatory on SAP
• Authorise all monthly recons for payment sundry creditors.
• Segregation of duties 
• Adhere to formal controls 
• Minimising fraudulent activities.

PROFESSIONAL EXPERIENCE

PRIOR

Stuttafords International Fashion Company, Johannesburg, South Africa

• Creditors/Accounts Payable Manager. 14 November 2008 to 1 March 2012

• I report directly to the Finance Executive
• Manage a team of 12
• Provide on the job training to all staff
• Identify learning gaps and follow up with additional training.
• Discuss career planning, introduce training where ability is shown and ensure that succession planning is in place at all times.
• Interview and recruit staff.
• Ensure the accuracy of the Accounts Payable module and the General Ledger and investigate imbalances and do the corrections.
• Responsible for ensuring the accuracy of the accounts payable masterfile and the legal custodian report for all active vendors.
• Clearing of balance sheet accounts monthly.
• Download information from three different systems and pass information to creditors clerks for their reconciliations
• Establish and invoice all consignment stock
• Download information from three different systems and reconcile creditors control account to the general ledger
• Prepare and maintain cash flow forecasts for both trade and sundry creditors
• Data capture stock adjustments, returns and price adjustments
• Authorise bank entries on bank and sign off payments as a first signatory
• Authorise all monthly recons for payment both sundry and trade creditors..
• Responsible for training material
• Ensure that segregation of duties 
• Minimising fraudulent activities.
• Plan and organise my own and subordinate’s workflow 

Ster Kinekor Entertainment A DIVISION OF PRIMEDIA (PTY) LTD

• Bookkeeper 9 June 2008 to 13 November 2008 (CONTRACT ASSIGNMENT ONLY)

Selected accomplishments

Please note this was a contract position over their financial year end and was required to assist with problematic accounts and assisting in cleaning up of areas.

Selected accomplishments

• I reported directly to the CEO of Movie Stop on a daily basis. 
• Plan and organise my own workflow and leave, balancing the management of tasks meet all deadlines daily.
• Prepare accruals raised ensuring accuracy of expense coding, period and relevancy.
• Prepare expense account analysis by general ledger number and cost centres.
• Ensure that all fixed asset documentation is accurate, asset disposals, sales, merges forms attached if and when required.
• Reconciling balance sheet accounts, raising provisions, clearing provisions and monitoring those queries are resolved.
• Ensure that segregation of duties are in place at all times within my area and adhere to formal controls when going on leave to keep segregation of duties in place minimising fraudulent activities.
• Debtors
• Creditors
• Reporting on franchise results per franchise
• Controlling of financial data on new franchise opening’s
• Month end reporting on Movie Stop
• Variance reporting actual vs. budget
• Stock control

The Sisonke Partnership t/a IHD, Johannesburg, South Africa

• Creditors/Accounts Payable Manager April 1994 to 31 May 2008

• Report directly to the Finance Manager 
• Manage a team of 12
• Plan and organise my own and subordinates workflow 
• Plan leave
• Balance the management of tasks and staff to meet all deadlines daily.
• Draw up and evaluate – Job description, Performance Appraisals, KPI’s, IDP’s and monitor performance.
• Provide on the job training to all staff, identify learning gaps and follow up with additional training.
• Discuss career planning, introduce training where ability is shown and ensure that succession planning is in place at all times.
• Interview and recruit staff members.
• Perform control self assessments monthly to ensure the accuracy of the department.
• Test Effective Controls monthly ensuring compliance (SOX, GAAP and legislation). 
• Ensure all company policies are adhered to.
• Ensure the accuracy of the Accounts Payable module and the General Ledger and investigate imbalances and do the corrections.
• Responsible for ensuring the accuracy of the accounts payable masterfile and the legal custodian report for all active vendors.
• Authorise all accruals raised ensuring accuracy of expense coding, period and relevancy.
• Perform intercompany balancing within the Uti group ensuring exchange rates are used and confirmations are received.
• Responsible for setting up monthly deadlines timetables monthly in advance, distributing and communicating with all concerned and monitor that all deadlines are met.
• Prepare expense account analysis by general ledger number and cost centres.
• Ensure that all fixed asset documentation is accurate, asset disposals, sales, merges forms attached if and when required.
• Responsible for the EBMS flow processes in my area, ensuring that these are drawn up, reviewed and changes made if and when required.
• Responsible for learner guides in my area, ensuring that these are drawn up, reviewed and changes made if and when required.
• Assist in the budgeting process by providing information to managers, assisting in expense forecasts and setting budgets for selected cost centers.
• Reconciling balance sheet accounts, raising provisions, clearing provisions and monitoring that queries are resolved.
• Perform bank reconciliations, resolve queries and report of suspected fraudulent activities.
• Ensure that segregation of duties 
• Minimising fraudulent activities.
• Multiple cost centre and general ledger coding 
• Procurement Supervisor 1997 to 1999
• DC Services (Supervisory position) 1995 to 1997
• Credit Controller – 1 April 1994 to 1995.

First Paper House, Johannesburg, South Africa

• Marketing Assistant 7 April 1992 to 31 March 1994

Selected accomplishments

• Telesales
• Marketing of paper products telephonically
• Issuing sample paper to potential customers.
• Promoting new paper brands
• Working closely with graphic companies to promote paper.
• Quotes, invoicing, negotiating.

Body Decor, Johannesburg, South Africa

• Personal Assistant 1 July 1988 to 31 Aug 1991

Selected accomplishments

• Filing
• Faxing
• Typing
• Invoicing
• Debtors and creditors functions
• Quoting on jobs
• Canvassing to obtain new business
• Supervising of work flow
• Ensuring deadlines are met.

Cerebos Foods, Johannesburg, South Africa

• Credit Controller 1 November 1987 to 30 June 1988

1 year

Cerebos foods is best known by the Cerebos Foods brand name salt. Cerebos foods are also instrumental in “no name” brand foods packaging.

Selected accomplishments

• Collecting of outstanding money.
• Reconciling payments to statement.
• Raining claims
• Resolving queries

Affiliated Medical Administrators, Johannesburg, South Africa

• Credit Controller 27 Jan 1987 to 30 October 1987 

1 Year

Affiliated Medical Administrators, Johannesburg, SA is a medical administration company that hosts a group of different medical aid schemes suited and catered around company needs and requirements predominantly focussing on medical aid schemes to suit the mining industry.. These included (but not limited to) Boart Medical Aid, Anglo and CEMAS, the largest scheme at the time.

Selected accomplishments

• Adding new members to a medical aid group.
• Deleting members who resigned from the medical aid schemes.
• Amending dependants on the medical aid scheme.
• Reconciling of payments made to the schemes
• General correspondence
• Processing claims

EDUCATION

General Smuts High Schools, Johannesburg, South Africa

• Matric (Grade 12) 1986

• Supervisor Development Program covering:
• Coaching for Improved Performance
• Industrial Relations for Managers

1. Planning
2. Goal Setting
3. Leadership
4. Decision Making
5. Managing Change
6. Managing your time
7. Communicating effectively
8. Productive meetings
9. Praise criticism and conflict
10. Delegating work
11. Training and teambuilding
12. Understanding the needs of the employee
13. Understanding the needs of the company
14. Basic conditions of employment
15. Relationships at work
16. Unionism
17. Basic Labour law
18. Dealing with shop Stewarts
19. Discipline and Disciplinary action
20. Disciplinary investigations
21. Formulating disciplinary charges
22. Handling grievances

• Performance Appraisal Skills
  1. Goal Setting
  2. Evaluating employees
  3. Managing incapacity/poor performance
• Target Selection Skills (Recruitment)
• Participative Management
• Finance for non financial managers
• Assessor skills

1. Training the employee
2. Resources
3. Raining methods
4. Feedback skills
5. People skills
6. Practical skills
7. Assessments

• Assessment of potential
• Induction skills
• Assertive yet tactful and factual communication skills
• Finance and Budgeting
• Managing Vat stringently
• Preparing Learner guides (Training Manuals) for staff to follow when performing a function
• Preparing EBMS flow processes

SAP - Excellent

Excel - Excellent

Word - Excellent

PowerPoint - Strong

Microsoft Mail

Internet

Navision

Dolfin

Netscape

Delta 1 (in-house AP)

PERSONAL ACHIEVEMENTS

Accomplishments.

• 2019 – Facilitated the use of BEST reconciling automation and was able to supply accurate details of potential liabilities
• 2019 – Introduced and managed and maintained debit balances reducing the book from over R6mil to R500k

• 1993 I was selected as part of the “Magical People” team that went to Italy for a week. This is based on excellent achievement.
• Nominated as a member of “Circle of Champions” 20 February 2007. This is also based on excellent achievement
• In June 1994 I introduced the remittance advice to run with the payment saving the company R5700.00 on external printing and 22-man hours in writing out reconciliation details.
• While still at school I won Victrix Ladorum for athletics 2 consecutive years, was awarded colours in netball and swimming.

Provided on request to the recruitment agency

High School Certificate Matric (Grade 12)