Senior Accountant
Mineral Circles Bearings FZCO
Total years of experience :15 years, 0 months
Reviewing and approving the stock related purchase invoices based on POs and and warehouse departments.
Maintain inter-company and related parties accounts and prepare monthly report for management.
Maintain and reconcile fixed asset register and run monthly depreciation schedule on Oracle NetSuite as per
company policy.
Reviewing and approving of all maintenance contracts and purchase invoices for correct account and
appropriate allocation as per related department.
Maintain schedule of international and local supplier’s payments and advances paid to suppliers based on
suppliers’ terms and brand team requests.
Managing credit facilities with multiple banks and utilize them through Trust Receipts, Term Loans, DA and
DP according to interest rates for settling payables.
Take care of the fund management system of the company and their payment mechanism.
Determine short to long term financing strategy and identify funding options and impact on financials
Issues letters of credit with multiple banks for international suppliers and verify term of credit. Reviews letter
of credit documents to determine compliance with international standards.
Review and negotiate term sheets, documentation and reply to banks credit facility queries.
Keep track of the company’s financial expenditures, maintain a database, and provide reports as and when
requested by financial controller and management.
Execute all monthly/ quarterly/ yearly closing entries process including amortization schedules.
Assisted the team in successful implementation of Oracle NetSuite.
• Prepare and analyze accurate monthly financial and management reports, including sheet and budgets.
• Contribute to develop and maintain internal control and optimize the company’s strategic position.
multiple drop-offs.
• Manage working capital and cash flow management, ensuring best utilization of funds.
• Prepare and maintain all payroll processing documents and payroll reports. Maintain the partners current and
capital accounts in system
• Analyze the cost of new projects and application enhancements, identify variable contributions, and assist
management in setting service charges.
• Prepare and file quarterly vat returns within filing requirements. Maintain the records and evidence.
• Record all services and software purchases in oracle-based software to produce appropriate purchasing report
on monthly basis.
• Reconcile all control accounts regularly and ensure timely closing of accounts.
• Provide financial analysis and modeling support to improve the productivity and set the goals.
• Work with the IT and development team to identify and develop process and application improvements.
• Responsible for liaising with banks, processing associated paperwork and weekly bank deposits.
• Creating & posting vouchers in Oracle GL module, generating income statements, general ledger and other reports. Preparing the accounts of the company and associate companies up to finalization.
• Responsible for account reconciliations that include multi-currency, inter-company accounts and bank accounts.
• Assisting with both external and internal audits including collating and providing the necessary documents.
• Assisting in preparation of company VAT forms and data. Reviewing and providing the data from system with sample supporting for VAT return.
• Recording and maintaining the ledger of RCM (Reverse Charge Mechanism) on all imports for the purpose of VAT return.
Accounts Receivable
• Implementing the company’s credit control policy by analyzing the credit terms of the customers and analyzing Oracle AR aging-7 buckets report.
• Conduct credit checks on customers by reference verifications and bank statements review.
• Preparing sales report and sales commission statement based on monthly or yearly sales, statement of account, fully reconciled & supported with relevant and original approved documents.
Accounts Payable
• Creating Local and International supplier’s accounts and maintaining the supplier ledgers in Oracle payable module.
• Performing three-way matching through online approved purchase orders, invoices and good received list.
• Recording the logistic activities of the company, maintaining and reviewing the expense accounts related to shipments, marine insurance and transportation to warehouses.
• Reviewing and entering all cheque, cash and bank transfer payments against invoices in ERP. Offsetting prepayments against invoices.
• Confirming that the organization’s record of its cash balances agrees with the bank’s record
• Checking that the organization owns the fixed assets that it includes in its accounts
• Making sure that the organization’s employees really exist
• Helping to ensure that the list of the organization’s suppliers is complete
• Attending a stock-take to observe the organization’s methods of recording stock
• Test-counting a sample of the company’s stock items
• Recording and testing the organization’s processes and controls
• Ensuring that accounting records and reports are in compliance with IFRS and company regulations & policies.
• Monitoring Purchasing activities of the company, maintaining and reviewing the expenses related to suppliers and transportation to warehouses.
• Analysis of sales trends and company activities, controlling the selling cost.
• Setting and achieving direct website revenue targets. P&L management for direct website channel.
• Weekly topline reporting of KPIs to management and in-depth monthly reporting.
• Assisting the management in setting expenditure budget for direct website across all areas of digital marketing.
• Identifying areas where expenditure could be reduced. Using analytics to influence trading decisions.
• Building strong relationships with online retail partners.
• Preparing export customers aging report to ensure that they are paying within their credit limits.
• Review financial statements for establishing product-wise/segment-wise profitability reports.
• Gather, analyze and interpret external and internal data and write reports.
• Make crucial business decisions and assisting management in setting new strategies.
- Preparing the journal entries and complete ledger operation;
- Recording all activities related to manufacturing of electric meters in labs;
- Assisting in reviewing and verifying Company’s all expenses;
- Recording and Handling all petty cash book transactions on ERP;
- Maintaining the accounts data base on computer;
- Monthly reconciliations of company's accounts and bank statement;
- Posting & matching vouchers in GL & making entries.
- Preparing and sending statement of account of customers on ERP
I have passed subjects , Fundamental levels of Accounting Business Law Financial Reporting Taxation, financial management etc. First level introduced me to the main areas of financial and management accounting and audit, where other level teached me technical areas that accountants are expected to know. This course gave me strong grip on the knowledge about Taxation, Audit and financial management.
Selected to participate in leadership development program, focusing on core management competencies such as communication and strategic thinking. It developed my skills and knowledge to management level. I learned how to apply my knowledge and learning to actual business situations. At the end of the course i completed my dissertation project with good grades and my topic was about " impact of social media marketing on customers" and target company was Samsung.
My under graduation in Commerce introduced new skills of management and areas of businesses. I explored the world of business at better level by learning the principles of business in subjects like, Marketing Cost Accounting Advance Accounting Taxation Business Law Economics and statics etc.