Finance & Accounts Manager
Electrofos Interiors LLC
Total years of experience :26 years, 0 Months
• Responsible for all aspects of Finance & Accounts department and managing a team of 4 members.
• Scrutinized seven years records, reconciled and rectified records for Dec’17 accounts closing.
• Liaising with banks for effective facility utilization, renewal and enhancement negotiations.
• Prepared various MIS reports & In-house financials for management, banks & investors.
• Fund management & flag raising on daily basis among group companies.
• Handled complete VAT registration process, compliance requirements and developing procedures for regular check on keeping records ready for VAT return.
• Guidance team for proper accounting, fund management and allocating responsibilities as per caliber.
• Highlighted issues in practices & procedures and better record & cost control measures are established by continuously pushing IT, HR & Planning department.
• Budget preparation for overheads & quarterly performance reporting
• DPX1 preparation for awarded projects for EXIM Bank authorized dealer approval in India.
• Bank Guarantees arranging and bank account opening for awarded projects.
• Fund forecast preparation and ensuring timely payments for branch operation and salary payments.
• Vendor payments of UAE branch & Qatar project as per SOP & authorization matrix. Training & continuous guidance to junior staff for payable accounting and effecting payments.
• Asset accounting from creation of asset code in SAP to sale or scrap including controlling & reporting of acquisition of Assets as per corporate sanctions.
• Payroll accounting & Salary payments of around more than 400 UAE staff and providing various MIS reports. Checking & approving of Oman branch staff Salaries & other employee payments. Payment of leave pay and final settlements including clearance & reconciling related accounts. Keeping clear staff accounts in SAP by co-ordination and follow up with staffs for settlements. Identifying areas for improving the process of salary accounting for shared services & subsidiaries. Recording & reporting of various salary recoveries across GCC & payable to authorities in India. Coordinating with accountants across GCC and preparing final staff cost analysis report.
• Account closing activity on monthly basis & supporting for India and UAE audit.
• Bank Reconciliation & Balance Confirmation for all UAE bank accounts.
• Debit notes raising on various subsidiaries & associate companies for expenses incurred by branch.
• Senior management expense & self-authorization report preparation for reporting to corporate office.
• Reimbursement to staff for various expenses and benefits as per company policy.
• Monitoring office main cash, related control & ensuring following up of company SOP.
• Providing financial information to proposal & estimation team for Pre-qualification & Bids.
• Completely responsible for all accounting up to finalization including liaising with Auditors.
• Providing misc. MIS report and regular monthly & quarterly financials to Directors.
• Controlling Cash Flow with the help of Trust Receipt, Bill Discounting & LC Facility.
• Liaising with bank for annual facility renewal and negotiation.
• Auditing accounts of various divisions including Oman, Kuwait & India.
• Controlling Stock Records & Stock verification procedures & resolving differences.
• Ensuring the correct landed / effective cost capturing of stock items.
• Budgeting annually, Revenue Forecast & performing Variances Analysis.
• Provided online accounts to Sales Team for proper follow up of payment.
• Many Customizations got done in Tally package as per company’s requirement.
AJIT KHIMJI GROUP CO.- MARCH 2001 - FEB. 2005
Accounting Package: Tally Ver. 5.4 release 6(a)
Finalization: Quarterly
ASHA ENTERPRISES LLC - CONSTRUCTION DIV.:
Reporting to: Group Accounts Manager & Divisional Manager
Working under me: One Cashier & Two Assistant
ASSIGNMENTS:
1. Completely responsible for all Accounting upto Finalization
2. Keeping record Costcentre-wise for each project and constantly
updating
concerned engineers for profitability and/or increase in cost.
3. Managing fund, follow-up with sales staff for collection and timely
payment to creditors.
4. Preparation of salary of around 200 employees.
HOUSE OF TYRES LLC:
Reporting to: Group Accounts Manager
Working under me: Storekeeper, Data Entry Operator & One Assistant
ASSIGNMENTS:
1. Responsible for all Accounts and Inventory records.
2. Procedural development for proper Internal Control & Documentation.
3. Keeping record Cost Centre wise for Branches & Divisions
(Manufacturing &
Trading)
4. Managing Bank Balance & handling Cash.
5. Surprise check & Quarterly Physical Stock taking.
ACHIEVEMENTS / INITIATIVES:
1. Calculated total monthly overheads & disclosed new BEP.
2. Disclosed major shortage in physical stock in first stocktaking.
5. Involved 3 persons in purchase of used tyres (major purchase) i.e.
Purchaser, Storekeeper and quality inspector.
6. Regularized stock records
7. Reported defects in MS Access based package, introduced Tally for
inventory records & network established with Accounts.
8. Check list prepared to stop omission in Import Procedure to follow.
10. Comparison of profitability with last year sales & Cost of new
Incharge.
11. Prepared list of Major expenses & loss incurred due to
mismanagement of
stock & under utilization of production capacity.
12. List of Excess & Non-Moving stock prepared & ABC analysis done.
• Completely responsible for keeping all Accounting records up to Finalization.
• Procedural Development for correct and complete accounting.
• Job Accounting (charging to customers for each item issued)
• Tax Management and Submission of Sales Tax & Income Tax Returns regularly.
• Control on store issues & maintaining Petty Cash Book.
• Preparation for Claim Form regarding all Commission and other dues from Carrier Aircon Ltd.
• Keeping record of Float Stock of Airconditioners and Compressors.
• All correspondence work related to accounts.
• Auditing of Companies, Partnership Firms, Proprietorships, Bank, School, Trust etc.
• Updating the Chartered Accountants about the status of companies accounting records
• Preparing computation of Taxable Income and Tax Payable.
• Keeping computerized and manual accounting records of various companies.
• Auditing and comparing computerized reports with manual account books.
• Maintaining record of purchases under different tax categories & calculation of Sales Tax payable.
Chartered Accountancy -Intermediate & Master of Commerce