Finance & Accounting Manager
Mara East Investment Co.
Total years of experience :18 years, 11 Months
• Preparing and reviewing Financial Statements on a Monthly and Annual Basis.
• Supervising overall accounting functions and operations.
• Monitor all necessary day to day accounting responsibilities, including journal entries, accounts payable/ receivable, bank deposits, invoicing, collections, VAT return filing etc.
• Respond to accounting inquiries from management in HQ DXB.
• Prepare annual budget and cash flow, monitor same for accuracy and control.
• Monitor and record financial transactions according to company policies and regulations.
• Review bank reconciliation every month. Mentor & assist subordinates for better controlling.
• Coordinate with Bank in regards to Loan and other banking facilities.
• Review, verify and approve Local Purchase Orders for the general tasks.
• Review and recommend changes to existing accounting procedures as per requirements.
• Review and verify payroll sheets for employees under company sponsor & coordinate with outsourcing Manpower agencies on timely salary disbursement.
• Keeping records for 3 ongoing projects within the country.
• Identifying any potential non-conformities and reporting them to Lead Manager of operations.
• Monitoring the sales, prepare and verify reports, submit to the Top Management.
• Working in Excel’s JET application to formulate P&L & Balance Sheet & Cash flow reports.
• Provide secretarial assistance to Owner concerning GOSI, QIWA, MUDAD, MUQEEM, “CCHI for DXB staffs” and some tasks related to ministries and landlords. As no HR/GRO team exist.
• Calculation of VAT payables & With Holding Tax and submit the returns at ZATCA portal. Assisted Auditor for Audit and verify Zakat calculation, submitted same in ZATCA Portal.
• Assist in audit activities by providing necessary information and schedules.
• Handling the concerns and complaints raised by outsource agencies and suppliers like Invoice disputes, Balance confirmation, payment of their financial dues etc. As a support to team.
• Developing accounting system, participating in preparation of internal accounting cycles.
• Reports to Finance Director & CFO in Dubai (HQ) and General Manager in KSA.
• Monthly progress and Management reports.
• Cash flow Projection compares actual and forecast on a monthly, quarterly and yearly basis.
• Formulate annual budgets and 6/6 yearly forecast, monitor the same on a monthly basis.
• Analysis of the variances between budget and actuals provides a detailed explanation of the change.
• Calculate dividends and make timely payments to Shareholders.
• Performed and worked as In-charge of month-end & year-end closing procedures.
• Supervision on subordinates for day to entries and assist in preparing BS and P&L on monthly basis.
• Ensuring compliance with accounting procedures, guidelines, and policies.
• Assisting with monthly accruals for revenue and cost, formulating and ensure to post same in SAP
• Assisting with preparation of Bank reconciliation, AP aging reports & AR aging reports.
• Maintaining accuracy and on-time recording of Accounts Receivable and Accounts Payable activities in SAP ERP
• Overseeing complete receivables, following up with KEMYA (Plant) & SABIC (Shared Services) for timely payments
• Issuing contractual & normal Invoices, issue a Credit & Debit note in SAP if required.
• Liaise with Auditors (Ernst & Young), Tax advisor (Al-Sudais) & ISO consultant, assist with the preparation of schedules, explanation provided during the course of audit, ensured audit finalization for 2015, 2016, 2017 & 2018 (with PKF & EY)
• Assist with preparation of VAT return filing, Withholding Tax, Income Tax & Zakat. Documents are well kept for calculation & verification purposes. Monitored GAZT queries and timely replied, admin user for GAZT portal.
• Administered SABIC’s vendor portal (SUS) for accounts interaction like solving queries, upload Invoices, follow-up on payment and solve accounts related other issues.
Highlights:
Developed authorization matrix on organization-level and Support HQ (Singapore) for SAP implementation work.
Played an effective role in the process enhancement, worked efficiently with the purpose of cost savings.
Maintained good relations with top Customers, JV partners, Banks, and statutory advisers.
Worked smartly by creating macros in Excel by using advanced formulas (like Vlookup, PivotTable, Sumifs, chart, etc.)
Recruited, hired, mentored, and lead a core team of Finance and Accounting.
Assisted management in getting the correct costing method with a typical business contract.
Role: ~ As a Head of Accounts Department: (Feb’14 to Mar’16)
• Led the financial & accounting activity in the company
• Coordinated all aspects of cost capturing, monitoring and forecasting efforts for assigned projects
• Took adequate measures to monitor cash inflow/outflow towards the accomplishment of ongoing projects
• Recognized and reported potential cost issues of the project
• Developed and distributed weekly and monthly project cost curves & reports
• Worked closely with the Planning Coordinator to maintain and ensure project data integrity
• Established and implemented internal control disciplines to maintain integrity & accuracy of financial reports and projects
• Assisted with inspecting completed project cost / cost of renovation of warehouses (in coordination with Project Manager) to ensure all requirements are met perfectly.
• Assisted with customer invoices, receipt voucher and tracked collections of operation revenues
• Reconciled customer balances and bank reconciliations on a monthly basis.
• Coordinated with MODON, Saudi Railways to get support in due payment relaxation, assisted with confirmation of balances
• Generated in-house Financial Report, engaged in monthly closing of the books of accounts.
• Ensured audit finalization for 2012, 2013, 2014 with Grand Thorton and 2015-16 with Talal Abu Ghazaleh
• Provided inputs to Chief Executive Officer on Commercial decisions
~ As a Senior Accountant: (Oct’13 to Feb’14)
• Scrutinized complete accounting documents of 2012 & 2013, successfully completed the audit for the same
• Worked on Al-Baseet Arabic Software for 2012 & 2013 closing with audit
• Successfully implemented “FOCUS 6” ERP software & worked on it from 2014 onwards
• Enabled monthly closing of books of accounts, Budget & management report
Highlights:
Designed protocols & played a key role in implementing the accounting system (FOCUS 6) and process enhancement.
Recruited, hired, mentored, and led a core team of Finance and Accounting aspects.
Worked smartly by using advanced formulas and creating macros in Excel.
Played a big role in accelerating new projects in Dammam, Madinah and Jeddah, super control over cash inflow & Outflow
• Advised business leaders to optimize financial accounting and reporting processes to gain effectiveness & efficiency
• Developed a complete accounting process and management with Implementation of Tally ERP9
• Cleared the backlog of past three years, managed the audit of accounts and filed the return for TDS, VAT & Service tax
• Maintained accounting of 8 sites in a professional manner; improved accounting & documentation systems for office & sites
• Rendered assistance to Directors for preparing RFQ and tender request
• Assist in analyzing data related to project progress and participates in developing management reports
• Coordinates with project manager for project planning and cost control analysis
• Generated VAT, Service Tax Report, TDS calculation and payment for the same
• Authorized cheque, RTGS-NEFT, draft & cash disbursement, Modified salary structure for all the staff and managed PF & ESIC
• Maintained accounting, financial reporting, financial control and information systems to ensure adequate records, appropriate authorizations of transactions & safeguarded assets
• Played a key role on achieving the target within timeline, specially MPHASIS (ATM project) in Gujrat and Thyrocare in Navi Mumbai
• Maintained very good business relations with client WIPRO GE Healthcare & Thyrocare Technologies Limited
• Assisted Management to sort out the old matter with Hotel Dhanashree Pune
Supervisor - General Accounts, Kuwait & UAE
• Managed General & AP Department
• Prepared: ◌ BS, P&L and Cash Flow on a Monthly & Yearly basis with assistance of Finance Manager
◌ MIS for 2 stores with consolidation on monthly basis
• Assisted Finance Manager and Group Finance Head on (i) daily fund position, (ii) Income on Early payment discount, (iii)FD report
• Coordinated with Store’s Section and Department Manager for inventory and department related reports
• Self-disciplined approach to work, worked independently
• Jobs during new store construction and renovation in Kuwait:
Preparation of Project planning and Cost analysis with coordination of inhouse Project Manager for new store construction
Preparation of Project Analysis & growth report
Payment disbursement, keeping track & control over purchases
Liaised with Sub-contractors, verify the quotation and Purchase Order & follow up for job completion
Prepare the manpower supply and CTC with coordination with HR Team
• Reports to Finance Manager
• Liaised with other branches for inter-company transactions with the coordination of Section & Department Managers
~ General Accountant at Geant Hypermarket, Dubai, UAE ~
• Checked and processed invoices in Gold Accounting application; verified vendor invoices and validated the same in accounting software; updated payable accountant the variances in vendor Invoices
• Analyzed data in Excel and validated the info in Gold accounting Application
Highlights:
Worked smartly by creating macros in Excel and using advanced excel formulas to speed up the work
Played a big role in accelerating the new store construction
Accelerated the accounting process by using smart technics for invoice booking and validation
Worked hard for stock counting and control, prepared schedule for inventory checking
• Checking purchased Invoices and rectify the discrepancies. Recording/posting of Invoices in Tally 6.3 & FoxPro Based software.
• Handling of statutory payments like TDS, excise duty, VAT/CST.
• Prepared payments twice a month for the suppliers and forwarded the same for signature.
• Debtors & Creditors Reconciliation on monthly basis or as per requirements and attended to their queries.
• Issued invoices to customer and follow-up for the payment with salesman
• Attended the physical stock-takes (inventory), checked the stock in the warehouse as per the requirement, especially for DABUR, Kissan & AMUL products and make the adjustment if needed for item received in free but not entered in the system
• Scanned all items through PDT scanner and Calculate the Shrinkage Report after the stock take
• Controlled & handled goods uploading & unloading at the warehouse
• Reports to Accounts Manager & Director
Part 1: Financial Planning, Reporting, Performance & Control, Part 2: Financial Decision Making
Financial Accounting and Auditing
Certificate in Computing-CIC
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