Senior Accountant
Damaco Foods DMCC
Total years of experience :27 years, 2 months
• Handling day to day accounting operations in SAP.
• Liaison with Banks on financial matters.
• Purchase / Accounts Payable: Verify Commercial Instructions and generate PI,
Supplier invoice (AP Invoice matching), Verification of AP variance account, A/P
Ageing analysis in SAP, authorize payments to vendors based on the payment term.
• Sales /Accounts Receivable: Verification Commercial Instructions, Generate PI and
Customer invoices in SAP, A/R Aging Analysis and verify due invoices and follow up
with the sales section/Customers for collection.
I. Accounting
a) Finalization of Accounts: Preparation of Income Statement, Income statement activity wise, Balance Sheet, Cash flow statement, operation Summary, Monthly, Quarterly reports. Analysis of actual revenue / expenses with Annual Operating Plan. Preparation of expense and revenue budget etc.
b) Purchase / Accounts Payable: Verify and approval of vendor listing and getting credit limits approved from suppliers for open credit. Verification of LPO and GRN with Vendor invoice), Verification of AP variance account, A/P Ageing analysis, authorize payments to vendors based on the payment term. Verification and approval of Staff’s travel expenses and reimbursement.
c) Manufacturing: Responsible for Standard Costing and continues review of standard labor, variable overhead, Fixed overhead cost on Bill of Material, Cost Center identification and setup, inventory management.
d) Sales / Accounts Receivable: Verification of Customer invoices, A/R Aging Analysis, Verifying due invoices and follow up with sales section on debt collection. Updating credit facilities and reporting the overdue balances to the management, Evaluating Customers credit worthiness.
e) General Ledger Accounts: Monthly analysis of General Ledger, Inter/group company accounts reconciliation, updating fixed assets schedules, passing monthly provision for salary and benefits, prepaid and depreciation journal entries, Prepare & analysis of balance sheet schedules such Prepaid expenses, advances, accrued payables etc. Month End/Year End Cut-off Procedure and period closing. Identify and Set up Profit Centre and Cost Centre for the business.
f) Checking of payroll summary, Verification of sub ledger with GL control account, Payment process.
g) MIS Reporting
II. Banking
• Liaison with Banks for checks, inward & outward remittance, for L/C ‘s and Bank Guarantees.
• Export L/C documentation, follow up for import L/C’s.
III. Audit:
• Entry of Purchase Orders, Purchase Returns, Sales Return Invoices, Debit Note, Credit Note, Journal Vouchers, Petty Cash Book, Bank Vouchers, Cheque Issue Vouchers, PDC’ receipt and payments.
• Updating Customer Ledger and collections and preparing monthly Trade Receivable Statement, Aging Analysis Report, Verifying overdue invoices and follow up on debt collection.
• Updating all vendor invoices and other payable transaction and timely payments of all vendor invoices by checking approved purchase order & after getting proper authorization. Preparing Accounts Payable Ageing Statements and. Payment of employee travel and entertainment expenses.
• Calculates and enters salaries and deductions for employees of different department . Manages payroll information and changes documents for each payroll cycle; files, boxes and stores information. Assists employees and departments with payroll inquiries. Calculate and counter check the over time pay to the employees. Disbursement of salary after verifying the account number of employees to the bank.
• Preparation of financial statement, bank reconciliation etc.
• Updating stock records on the out lets and inventory movement report.
= Perform financial and operational audits to analyze the quality and effectiveness of internal operating policies and administrative procedures including reviewing transactions, documents, records, reports, and policies and procedures for accuracy and effectiveness.
= Assist in the process of evaluating the adequacy and effectiveness of internal controls.
= Attends stock takes at stores / warehouses to validate the reliability of the count.
= Assist in developing recommendations for corrective action/improvement.
= Perform follow-up of recommendations and corrections implemented to validate implementation of agreed upon corrective actions.
= Prepare work papers, which record and summarize audit procedures performed
= Provide assistance to external auditors as requested
= Responsible for handling accounts receivables, accounts payable and expenses.
= Responsible for preparing invoices and follow up on the outstanding payments.
= Checking and auditing all types of payments to suppliers and employees
= Responsible for auditing on petty cash claims and other office expenditure claims.
= Liaising with the production department for purchases.
= Inventory Management.
= Monitoring and controlling the delivery schedule to customers.
= Administrating office routine work and liaison with clients