Majed Al Toukhi, Commercial Manager

Majed Al Toukhi

Commercial Manager

Red Sea Global

Location
Saudi Arabia - Jeddah
Education
Bachelor's degree, Accounting
Experience
15 years, 2 months

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Work Experience

Total years of experience :15 years, 2 months

Commercial Manager at Red Sea Global
  • Saudi Arabia - Riyadh
  • My current job since February 2024

-Managing contracts.

-Processing DVO determined variation orders.

-Converting PR to PO & checking if there is retention & advance recovery.

-Processing the approved invoices & submitting them for payment.

-Making sure Governance & compliance are in place.

-Preparing payment certificates after gathering all the required documents and making sure insurance policies are valid.

-Receiveing the standard PO’s by creating the receiving receipts in the ERP Oracle Reef.

-Closing paid invoices in Acconex system.

-Closing PO’s in Oracle Reef system.

-Working closely with the Commercial team on site & making sure all site requirements are fulfilled.

-Preparing monthly accruals.

Accounts Payable Manager at Emaar - Saudi Arabia
  • Saudi Arabia - Jeddah
  • August 2022 to August 2023

-Managing Accounts payable of Emaar co. & subsidiaries.

-Managing vendor statements reconciliations VS. bank statements to make sure the AP ledger is correct & matching with bank accounts.

-Reviewing and posting monthly accruals.

-Validating & approving Invoices, work confirmations & PO’s through ERP Oracle and making sure the Tax invoices matches ZATCA tax requirements.

-Making sure the expenses are correctly booked on the cost center & GL accounts which they are related too.

-Review of the Withholding tax monthly report to make sure that the right WHT rates are applied on the invoices before filling the WHT return to E&Y.

-Running AP aging report & make sure to pay the overdue invoices.

-Running weekly payment schedules & working closely with treasury team to secure bank approvals.

-Monitoring the open advance payments and making sure to obtain the invoices to properly close the open advances, running weekly prepayments report.

-Running GL account analysis reports & reconcile with the Trial balance.

-Performing balance confirmation with the vendors.

-Monthly closing of Accounts payable & cost management modules.

-Working closely with IT to upgrade the current ERP Oracle system and enhance system reports.

-Managing internal & external Audit requirements.

Credit Control Manager at Binzagr Co.
  • Saudi Arabia - Jeddah
  • May 2021 to August 2022

Managing Credit control & receivables of the company.

Country Senior Accountant at IKEA Ghassan ahmed alsulaiman furniture trading co.
  • Saudi Arabia - Jeddah
  • March 2018 to March 2021

Accountability and responsibilities as a Country Senior Accountant & Acting Chief Accountant:

- Monthly VAT Filling for KSA & Bahrain (reconciliation - Filling & payment to GAZT & NBR).

- Year end Zakat Consolidated filling & payment (IKEA Group of companies).

- Monthly Withholding Tax filling & payment.

- Excise Tax filling & payment (For IF&B Juices which are imported from Sweden).

- Managing Internal & external audit requirements related to fiscal year closure & working along with the team to fulfill the Mid & End year Audit requirements.

- Inter company accounts reconciliation (Month end closing).

- Supplier accounts reconciliations (Monthly).

- GL reconciliation with Sub Ledger (Monthly).

- B2B customers collection.

- Managing monthly accruals & recurring entries (Month end closing).

- Managing 2 Major projects for automation Robotics process automation (RPA) & Vendor portal.

Accounting Supervisor at Saudi Goody Products Marketing Company
  • Saudi Arabia - Jeddah
  • July 2015 to March 2018

Mainly responsible for Accounts payable & GL functions.

Received the Excellence Award as Champion of the 2nd Quarter July 2017 under the strategy of Drive Sustainability & Efficiencies.

- Tasks & Responsibilities :

- Freight, Delivery orders, Handling, recovery charges & Detention invoices.

- Admin & Marketing expenses invoices.

- Transporters invoices for Export orders to the distributors.

- Shipping line invoices.

- Custom clearance invoices & Custom duties sadad payments.

- Bank reconciliations.

- Suppliers reconciliations.

- Imported goods invoices.

- International suppliers invoices.

- GL & Fixed assets.

- Petty cash & employee expenses.

- Created a SOP for clearance & shipping lines processes.

- Local & international purchases invoicing.

- Advance payments to Suppliers & employees.

- Initiating payments online & Sadad custom duties online.

- Responsible for collecting all Accounting & Finance team data to finalize the Scorecard sheet.

Financial Accountant at Al Safwa cement
  • Saudi Arabia - Jeddah
  • March 2013 to June 2015

AP, AR & GL accounting.

-Responsible for all the raw material invoices.

-Monthly Plant visit in order to perform Physical stock count of the Raw materials.

-Updating the CAPEX sheet for all current & new projects in the H.O & in the Plant.

-Receiving & Booking the customer deposits after checking them on our bank accounts online.

-Labors & Manpower invoices.

-Hotels, travel agencies & Courier invoices.

-Assisting the Senior accountant in finalizing the monthly ageing report.

-Preparing a daily statement for the customers daily deposit receipts.

-Direct contact with the suppliers in order to reconcile their accounts.

-Using Lafarge JD Edwards system.

-Processing all monthly closing entries & accrual entries as well.

-Preparing Reallocation between accounts GL entries & posting them on the JD Edwards system.

-Following up with the treasury manager for pending payments not yet paid to the suppliers.

-Communicating with the suppliers & sending them their payment breakdowns & bank transfer slips.

-Communicating with project managers for Capex invoices that needs their approval.

-Monthly preparation of the accrual report.

Accounts Receivable Accountant at Magrabi Retail
  • Saudi Arabia - Jeddah
  • August 2011 to March 2013

Working in the accounts receivable department.

• Following up and monitoring monthly collection with insurance companies
• Preparing monthly reports such as: Ageing Report, collection..etc.
• Using SAP accounting module to perform entries to record collection.
• Monitoring inquires on bank accounts to check deposits and transferred cheques.

Junior Accountant at Zuhair Fayez Partnership
  • Saudi Arabia - Jeddah
  • March 2010 to August 2011

• Responsible for monitoring and recording the petty cash accounts.

• Book keeping of the expenses related to travel and monitoring the travel agencies accounts.

• Bank reconciliations.

• Booking Journal entries related to Accounts Payable.

• Receiving branches vouchers auditing them & posting the batches.

Customer service trainee at National bank of abudhabi
  • Egypt - Cairo
  • August 2008 to January 2010

Trainee in National Bank Of Abu Dhabi - Egypt in the customer service department from August 2008 until January 2010.

Education

Bachelor's degree, Accounting
  • at Ain Shams University Faculty Of Commerce
  • July 2008

Specialties & Skills

Accounting
Accounts Receivable
Finance
Budgeting
Accounts Payable
Accounting
Accounts Receivable
Accounts Payable
GL Accounting
Journal Entries
payments
reconciliation
Project Accounting
Purchase Accounting
Teamwork
Major Accounts

Languages

English
Expert
Arabic
Native Speaker

Memberships

Saudi organization for chartered and professional accountants
  • Associate member
  • March 2021

Training and Certifications

SOCPA Certificate of Associate membership (Certificate)
Date Attended:
March 2021
Valid Until:
April 2024
Certified IFR (Training)
Training Institute:
UBT Executive education
Date Attended:
March 2021
Duration:
18 hours
Leadership skills (Training)
Training Institute:
IKEA Saudi Arabia
Date Attended:
February 2020
Duration:
8 hours
Fundamentals of Credit (Certificate)
Date Attended:
June 2020
Heartsaver First Aid CPR / AED Course (Certificate)
Date Attended:
August 2013
Valid Until:
August 2015
ICDL Certificate (Certificate)
Date Attended:
August 2009
Valid Until:
November 2009
IFRS 2016 update (Training)
Training Institute:
PWC Academy
Date Attended:
November 2016
Duration:
6 hours
Accounting Fundamentals (Certificate)
Date Attended:
May 2020
Reading Financial Statements (Certificate)
Date Attended:
June 2020
Introduction to Corporate Finance (Certificate)
Date Attended:
June 2020
Drive Sustainability & Efficiencies (Certificate)
Date Attended:
July 2017
SOCPA Principles of Financial Accounting - Adjustments Entries and Financial Statements Preparation (Certificate)
Date Attended:
April 2020
SOCPA Principles of Financial Accounting - Accounting Framework (Certificate)
Date Attended:
April 2020
Financial accounting foundations (Certificate)
Date Attended:
April 2020
Presentation Skills (Training)
Training Institute:
IKEA
Date Attended:
February 2020
Duration:
8 hours
SOCPA VAT Implementation (Certificate)
Date Attended:
April 2019

Hobbies

  • Reading