Partnership Accountant

Ambition are supporting one of our top international law firm clients with their recruitment for an experienced Partnership Accountant. This is a pivotal role within the Partnership Accounts/Tax team, where they manage the affairs for the firms partners.

Key responsibilities for this role will include;

• Prepare illustrations and advise partners of changes to PCLs because of increases in points following the allocation reviews.
• Manage the process of advising our banks of increases to PCLs due to either: - 1) a change in profit points; or 2) partner recruitment.
• Manage the process of advising our banks of increases to PCLs due to either: - 1) a change in profit
• Ensure that the paperwork required for the PCL funds to be paid to the Firm's bank account to be completed and returned to our banks in as short a period as possible.
• Arrange PCLs repayments that are required due to a change in profit points or retirement.
• Check the quarterly interest amounts charged by our banks and allocate the amounts to the relevant partners undrawn balance accounts.
• Explain the capital arrangements to newly promoted/lateral hire partner.
• Notify our banks of change of addresses.
• Advise the cashiering team when funds are expected.
• Ensure PCL loans and repayments are posted correctly to the General Ledger.
• Answer any partner capital related questions.
• Prepare capital balance forecasts to assist with the decision to amend partners' capital obligations.
• Arrange for the cashiering team to make capital repayments to retired partners as per the terms set out in their leaving letters.
• Maintain the capital projection model and send to the Group Accountant at the beginning of each month.
• Calculate the amount of capital to be retained partners' profit share and post to the general ledger.
• Calculate the amount of profit due by way of interest on personal capital and update the profit model with interest due on both borrowed and personal capital.
• Prepare the capital information required for the distribution model.
• Order Annual Interest Statements.
• Capital account reconciliations.
• Reconcile various general ledger account balances.

Ideal candidates will be ACCA/ACA/CIMA Qualified and have experience of working within partnership accounts. gained from working within the legal or professional services sector. Apply now if this role is of interest to you!

If this job isn't quite right for you, but you know someone who would be great at this role, why not take advantage of our referral scheme? We offer £200 in shopping vouchers for every referred candidate who we place in a role. Terms & Conditions Apply. https://www.ambition.co.uk/refer-a-friend