Just from my knowledgeas my friend works in accounting:
1) Well you would need to be good with figures and would be working within finance constantly. As it is temporary I would say you need experience as a payroll admin or purchase ledger possibly, book keeping etc. You need to be accurate with your figures as you are issuing staff with their money, also working out tax possibly etc.
2) You can do it with no experience and the company would train you but I wouldn't expect this on a temporary job. Maybe a temporary to permenant for the right candidate but they would have said this in the job description.
3) The link you gave above gives your answer to this one
4) No. You need to be trained in it and the platform it runs on. I'm pretty good with software and taught myself to use Photoshop but this is accounting software we are talking about.
5) Contact Reed and ask more about the job, but I don't think you will be able to apply without experience