Senior Accountant
Si Fashion Galerie FZ LLC
Total years of experience :21 years, 1 Months
• Oversee the entire operations of the Accounts department and set goals and objectives.
• Responsible for financial statements including General Ledger, Profit & Loss Accounts, Age-wise Accounts Payables, Receivables Statements and Income Statement and Planning for the business.
• Oversee cost accounting, cash management, metrics analysis and reporting.
• Reconciliation of company’s assets, liabilities, revenues, operating expenses, provisions, accruals entries and accounts.
• Produce monthly variance reporting, clearly articulating the linkage between operational and financial performance.
• Coordinate the month-end closing process to finalize monthly revenue and expenses for the monthly financial statements.
• Review internal audits and ensure proper application of accounting controls.
• Manage the product costs, sales prices, return policies, discounts and promotions for the company’s gross margin initiative.
• Handle VAT calculations and file quarterly VAT returns with Federal Tax Authority.
• Reconciliation of bank statement, accounts payable and receivable.
• Handle all payment to vendors through cheque, telegraphic transfer, online transfer, bank guarantees and LC’s.
• Manage cash flow and alert the management of any variations of funds in a timely manner.
• Accountable for performing treasury functions such as capital management, daily liquidity, allocating cash balances, preparing forecasts, investment records, etc.
• Responsible for scrutinising credits, business service charges and other incomes.
• Preparation of MIS report of monthly sales, pending invoice certification, remittance pending, bank reconciliation, etc.
• Monitor client details for non-payments, delayed payments and follow-up for overdue collection by sending bill reminders.
• Calculation of advance payments, reduction, etc.
• In charge of monthly payroll calculation, leave salary calculation and WPS.
• Provide coaching, direction and leadership to team members in order to achieve optimum business results.
• Preparation of cash flow statement
• Accounting of receipts and matching against respective invoices
• Day to day management of AP vendor inquiries
• Process and reconcile payments to supplier statements
• Review all invoices for appropriate documentation and approval prior to payment
• Prioritize invoices according to cash discount potential and payment terms
• Payment to vendors thru check, TT & online transfer, bank guarantees and LC’s
• Preparing bank reconciliation statement.
• Verifying petty cash transactions and ensure entries are recorded on correct ledger.
• Preparing GRN and purchase vouchers
• Preparing VAT Input summary to consultant
• Verifying journal entries and approving.
• Verifying leave salary submitted by HR
• Accounting & Intercompany Reconciliation
• Support ad hoc internal and external audit enquiries
• Maintain the General Ledger and perform required reconciliation in Oracle
• Pass rectification/necessary entries in APPS/Prepayments
• Prepare the creditors statement of Accounts
• Receive invoices, verify supportings and issue payments by cheque or bank transfer
• Ensure that all accounting entries are done under the correct heads and further rectifying if it is booked under a wrong head by the imports assistants
• File the quarterly returns with the licensors with respect to Royalty
• Assist in Payroll preparation
• Handle the concept overheads budgets - travel, rental and other office administration and monitor the overhead with concept overheads budget on quarterly basis
• Ensure that correct and timely TA is given to Buyers for their tours
• Conduct Bank reconciliation - Transfer entries
• Maintain Cash transactions and monitor to see cash vouchers are with proper supportings & regular reconciliation of Physical Cash
• Prepare and conduct accounting of LPOs for common office requirements - IT / Travel etc
• Ensure accurate and timely Data entry for collection / bank entries
• Generate periodic reports for Concept OH and to compare with Budgets
• Liaise with Corporate Accounts during Audit
• Maintaining financial information, files and records (e.g. copies of paid invoices, cheques, documentation, reimbursement, reports)
• Leading a team for Accounts Payable Process on behalf of Stanley Black & Decker, a tool manufacturing company in United States of America.
• Managing vendors set ups for 27 Business units in 18 ERPs
• Auditing the vendor master data creations and changes
• Validating and processing vendor invoices
• Achieving daily production targets.
• Monitoring all queues and assigns the respective queues to the team members.
• Knowledge of processing Purchase Order invoices & Non Purchase Order Invoices (Service) of Stanley Black & Decker.
• Quality checking of team’s performance on a daily basis.
• Compliance to Client SLA.
• Handling all types of queries received from the vendors and the Line of Business through calls and E-Mails and resolving immediately with the proper resolutions.
• Preparing daily, weekly and monthly reports in MS Excel.
• ISO Documentation for the project.
• Completed offsite transition for Black & Decker in vendor master process.
• Verification of procedures, documents and endure proper adherence to statutes
• Ensured the compliance of retail loans with the directives issued by Central Bank of Kuwait, for Al Ahli Bank of Kuwait, Kuwait International Bank and Bank of Kuwait & Middle East.
• Ensured the compliance of credit cards issued with the directives issued by Central Bank of Kuwait for Burgan Bank.
• Consolidation and timely deposit of cheques for the entire state of Kerala (around 36000 plus cheques per month)
• Reconciliation of cheques (received and presented) and bank statements
• Accounting the status of cheques, funds transferred, charges on a daily basis
