The ITC, an industry body that represents over 600 members, says:

This team has responsibility for monitoring the finances of the theatre. They often have qualifications in accountancy, book-keeping or operating businesses. They produce management accounts, financial returns and cash-flow projections and will, each year, prepare the accounts for auditing.

An example job description:

Finance officer (theatre-based)

Brief Description of Duties:

This job description sets out the major duties associated with the stated purpose of the post. It should not be assumed that other duties undertaken within the section are excluded simply because they are not itemised.

• to act as the theatre’s Bookkeeper ensuring all accounts are kept up to date providing information, account breakdowns, cash flows and reports as required by the Theatre Manager and Board of Trustees
• to work as instructed by the Chief Executive/Theatre Manager

Responsibilities:

• timely preparation on monthly management accounts, including the reconciliation of all control accounts and the preparation and posting of accruals and prepayments
• maintains an overview of the Theatre Trust and its subsidiaries
• timely preparation of other monthly financial reports as required
• work alongside managers/ project managers in administering individual arts projects/specific areas of activity including maintaining up to date accounting records of all income received & expenditure incurred & reporting as required to managers & funding bodies
• work with the auditors to prepare year end accounts in audit format for the trust, including the compilation of the year end file; assist as required, in the preparation of year-end accounts of subsidiary companies
• timely preparation of quarterly VAT returns for theatre trust and its subsidiaries
• maintain and develop the use of the theatre’s accounting systems to ensure maximum efficiency
• control and monitoring of group utilities (eg. gas, electric)
• train staff in the use of financial procedures as appropriate
• to work with the Chief Executive/Theatre Manager to control the theatre’s income and expenditure
  To manage the theatre’s detailed financial functions using SAGE accountancy software and other packages as appropriate on a day to day basis
• to ensure that the confidentiality of information is maintained at all times
• to ensure correct financial records of the Theatre’s activities are kept:
  1. daily: to reconcile receipts from the previous day using ARTIFAX reports with monies actually banked; the production of sales invoices as necessary; the production of sales reports to analyse sales, VAT and income type and then post to the sales ledger
  2. weekly: to code and post supplier’s invoices to the purchase ledger, reconcile statements and post sundry payments; to run the weekly payroll, updating all associated payroll reports; to raise all necessary contra invoices and statements
  3. monthly: update the nominal ledger from the sales and purchase ledgers; to make sundry manual postings: payroll, stock adjustments, matured sales etc; the reconciliation of bank balances and advance ticket sales, and subsequent adjustment of the nominal ledger; the production of profit and loss, and balance sheet reports for the year to date (monthly details); to generate sundry reports; aged creditors and debtors, statements, debtors letters, production details, payroll analysis, depreciation, accruals, prepayments, stock and sales analysis; the preparation of monthly management accounts
  4. quarterly: the completion of all statuary returns issued by Inland Revenue and by Customs and Excise; the preparation and production of quarterly management accounts for the board and for the funding bodies
  5. annually: to work with the theatre’s accountants to supply figures and information for the preparation and production of final accounts, supported by a comprehensive audit file; the completion of Inland Revenue and PRS returns
  6. additional: to cover all VAT, PAYE/NI and Audit inspections; the preparation and production of any other reports as directed, cashflow, or profit and loss forecasts etc; maintaining a comprehensive accounting data archive

Success Criteria:

• ensures effective administration of grants and keeps accurate records of income and expenditure
• prepares accounts, returns and reports accurately and on time
• takes an overview and maintains control of financial procedures
• maintains and develops use of accounting systems to ensure efficiency
• works effectively with others in the department
• checks and identifies errors in financial transactions
• keeps the Chief Executive/Theatre Manager informed of developments, which may impact on budget and cash flow

Attributes:

• team player and sensitive to needs of others
• ability to work with volunteers and to deal with individuals at all levels
• flexible, committed and punctual
• ability to take initiative, prioritise and balance workload with a good attention to detail
• determined, committed, motivated and honest with a good sense of humour
• able to stay calm and friendly under pressure in a busy environment
• keen to contribute to the development of the theatre
• access to own transport and clean, valid driving license would also be desirable
• strong customer service focus with an awareness of your impact on the customer experience
• strong communication skills – with customers, managers & team
• participate in business planning activity as appropriate
• represent theatre at events when appropriate
• act as Duty Manager when required
• work within equal opportunities and health and safety policy
• undertake other tasks as may reasonably be requested by the Chief Executive/Theatre Manager.