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March 13, 2020

 

In his seventh blog, Ethan continues to write about experiences from his Business Officer Apprenticeship at Leeds East Academy:

It is human nature to want to do things by ourselves. That’s just the way we are, however in almost every profession there are moments when we can’t do things ourselves. My role is no different. While I can follow financial processes by myself, I often need others to support me in completing the processes.

"In my growing role, I am becoming more independent and confident."

There are lots of positives to working in a school during the half-term holidays resulting in me being able me to complete work at a faster rate. On the other hand, there is one negative that hinders progress – there are no teaching staff in the school to sign invoices relating to the orders for goods they made; an additional financial control to those I mentioned in my blog I wrote last week. Without the required members of staff, processing the individual invoice is held until the required signature is received. In some cases the invoices can become overdue which means the creditor/supplier could take action.

My college tutor has taught that there are repercussions of not paying an invoice. This might first take the form of a direct phone call requesting payment, then if the invoice remains unpaid, a late payment charge, and in extreme cases the supplier’s legal team could investigate. Considering this additional knowledge, I organise my time to process invoices within the payment terms, prioritising those invoices that may have shorter payment terms.

 

In my growing role, I am becoming more independent and confident. However, it is important that I remember to ask for help from others when I don’t understand. By asking others and then learning from them, I am empowered to make wiser decisions for myself. These decisions strengthen the financial processes and my execution of them.

 

 

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