Supervisor Client Services / VAT Consultant
Finpro
Total years of experience :11 years, 6 Months
• Value Added Tax (VAT) Registration consultancy, VAT Implementation, Impact assessment, and filing of VAT returns;
• Implementing VAT on various entities by changing the formats and accounting systems;
• Identifying new potential clients and conduct meeting with them;
• Regular follow up and courtesy calls to existing and new potential clients;
• Business Analysis & Pre-implementation advisory support;
• Defining and agreeing on the scope of work, decision points and reports;
• Detailed screening of the business following initial meeting;
• Making estimates of cost of project to quote the best price to the clients;
• Review and monitor the adequacy of systems of clients, procedures and other relevant records to ensure compliance with VAT, excise and other taxation Regulations;
• Assessing VAT impacts on businesses and discussing with the clients and staff internally;
• Preparation of Financial Statements as per IFRS, Management Reporting & Budgets for the clients;
• Preparation of Financial Statement Analysis and Variance Analysis for clients;
• Reviewing commercial contracts, Advising Management, Exploring cost reduction opportunities
• Assist in preparing reports and schedules that will be delivered to clients and other parties;
• Develop and maintain productive working relationships with client personnel;
• Participate and assist in preparing for meetings with management teams;
• Work effectively as a member of professional advisors team, sharing responsibility, providing support, maintaining communication and updating partners on progress;
• Building deep understanding of GCC VAT framework and its practical applications;
• To keep abreast of current developments relating to VAT and other taxation issues;
• Transfer technical and professional knowledge to others through formal and on-the-job training;
• Understand and follow workplace policies and procedures.
Key Achievements:
Developed company’s daily MIS inclusive of a detailed P&L variance analysis with budgeted figures as the month progresses.
Developed a consolidated & comparative monthly P&L report of entire group inclusive of Sales, COGS, Variable G&A expenses & Fixed G&A expenses comparison with budgeted figures.
Responsible for drafting and implementation of all relevant company policies to organize many operational procedures within the company such as food and safety policy, Vehicle Policy, Staff timings, Annual Leaves, etc.
Working closely with the Manager Accounts & Finance & General Manager for significant input into the human resources, infrastructure, risk management & compliance.
Responsible for Effective and Efficient cost cutting measures which help to reduce CGS by Approx. 3% to 4% of Gross Sale.
Brief job Description:
• Assist the Finance Manager to achieve agreed performance standards and goals;
• Prepare Complex Consolidated Financial Accounts of the Group;
• Prepare Master Budget, monitor & control budgeted expenditures and investigate any variances;
• Examine & produce accurate financial reports on monthly & quarterly basis to specific deadlines;
• Prepare monthly management accounts including variance analysis;
• Prepare financial analysis, KPIs & Cost Reports as and when required;
• Control and protect the assets in the interest of the organization by maintaining Fixed Asset Register;
• Manage Working Capital effectively by insuring that cash flows are adequate to allow business units to operate effectively and anticipating challenges arising from limited cash flow;
• Interpret operating results as they affect the financial aspects of the company and make specific recommendations, which results in cost reduction and profit improvement;
• Oversee and coordinate on-going project costs with Project Managers and other personnel to ensure that all financial aspects of project execution are on track;
• Create Financial & Job Costing Reports for different Projects;
• Insure timely and accurate processing of client requisitions and subcontractor payments;
• Insure that client billings and subcontractors payments coincide with Project Construction Schedule.
• Supervised monthly payroll process, bank reconciliations and reconciliations of suppliers and customers;
• Take responsibility for, and supervise the work of, junior members of staff and trained new hires;
• Liaise with other departments and business units on a range of issues to ensure consistency;
• Liaise with External Auditors during Financial Audits & Review.
Key Achievements:
Implemented Financial Accounting System from scratch, finish the backlog by entering data in Accounting Software within set deadline and successfully completed External Audit of Company Accounts of 3 years.
Handled Complex Accounts of Group having variety of companies under its Umbrella (i.e. Restaurants, Franchises, Interior Fit out Contracting & Printing & Signage Company).
Assisted Manager Accounts & Finance in the process of implementation of Control Environment and in Development of Financial Reporting System in the Group which helps to improve the performance and reduce Cost of Production of Group as a whole and Particularly Hospitality Business.
Brief Job Description:
• Assist in budget preparation and management activities;
• Ensure that all data is entered into the accounting Software accurately and in a timely manner and that all ledgers are updated for preparation of monthly management & financial accounts and reports;
• Maintain a Cash Flow Spread sheet for All Bank Accounts, assure that all PDC are entered in CFS & insure sufficient funds are available for PDC’s falling due or else must notify Management at least one week prior to PDC due date;
• Regularly reconciling CFS balances (for accuracy) with actual bank balances by preparing Bank Reconciliations;
• Prepare reconciliations of Accounts payable and Accounts receivable periodically with Suppliers & Customer Statements respectively and report if discrepancies found;
• Assuring the timely payment of Suppliers to maintain a good business relationship with them;
• Prepare and manage the processing of monthly payroll within the set deadlines;
• Prepare monthly, quarterly and annual accounts;
• Deal with insurance companies for insurance arrangements of company’s assets.
• Examine inventory to verify journal and ledger entries during Annual Stock Taking;
• Inspect cash on hand, notes receivable and payable and cancelled checks to confirm records are accurate at year end;
• Conduct pre-implementation audits to understand Client’s Business & Industry and to determine if systems and programs under development will work as planned;
• Collect and analyse data to detect deficient controls, duplicated effort, extravagance, fraud, or non-compliance with laws, regulations, and management policies;
• Inspect account books and accounting systems for efficiency, effectiveness, and use of accepted accounting procedures to record transactions;
• Prepare, analyse, and verify annual reports, financial statements, and other records, using accepted accounting and statistical procedures;
• Prepare detailed report and report to management about asset utilization and audit results, and recommend changes in operations and financial activities.
• Plan, organize and carry out the internal audit function including the preparation of an audit plan which fulfils the responsibility of the department;
• Review and Report on the accuracy, timeliness & relevance of the financial and other information that is provided for Management;
• Worked with Manager to ensure a system is in place which insures that all major risks are identified and analysed;
• Make recommendations on the systems and procedures being reviewed, report on the findings and recommendations and monitor management's response and implementation;
• Investigate occurrences of fraud, embezzlement, theft, waste and recommend controls to prevent or detect such occurrences;
• Contribute to team efforts by accomplishing related results as needed;
• Complete other given tasks on time in an effective and efficient manner.
• Preparation of schedules for the purpose of Sales Tax & Income Tax Return;
• Online filing of Monthly & Annual Sales Tax & Income Tax Return. of Individual’s & AOP’s;
• Correspondence with the FBR, Tax House & with Clients.