Accountant
Wave Tech Computer LLC
Total years of experience :5 years, 10 Months
Responsibilities:
ACCOUNTS PAYABLE:
Responsible for checking & issuance of LPO, based on given terms and requirement of project.
Booking supplier invoices after verifying supporting documents. (LPO/Service contract/Licenses).
Keeping complete track of purchases & detailed project costing, which helps cost control and better profitability.
Preparing monthly Accounts Payable schedule to avoid any fines and penalties.
Follow up with vendors on billing issues/resolving and reduce the lead time from 4 weeks to 2 weeks.
Controlling outstanding PO/WO balances monthly & updating the same on regular basis.
Preparation of supplier payment according to the due dates and their respective payment terms in the medium of Cheque and online transfers.
Keeping track of fund flow and updating payables on regular basis.
Suppliers Account Reconciliations on regular intervals for small and continues purchases for projects.
Conducting the monthly Inventory count & preparation of Inventory reports which assist in monthly purchase budget and reduce the product life cycle.
ACCOUNTS RECEIVABLE:
Responsible for invoicing and checking the LPO and project completion report based on contract terms.
Preparation and verification of receipt/payment documents.
Preparation of monthly accounts receivables schedules.
Keeping keen track of funds received and updating receivable accordingly.
Follow up with clients on invoicing issues/resolving and recovery of bad debts.
GENERAL DUTIES:
Processing application for Tender Bond / Performance Bank Guarantees.
Maintaining fund position and updating the management to take monetary decisions.
Updating the Bank Facility Utilization Reports & Bank Reconciliations monthly.
Preparation of Monthly & Quarterly reports of Sales, Purchase and stock and Annual Financial statement.
Preparation of Cash flows on regular intervals and making available cash for upcoming projects.
Updating Fixed Asset register on monthly basis and making depreciation entries.
Booking accruals, provisions and prepayments.
Preparation of Provision for Leave salary and Gratuity and their subsequent entries monthly.
Develop, maintain and analyze budgets, preparing periodic reports that compare budgeted costs to actual costs.
Cost controlling for projects and fixed overheads based on monthly, quarterly and annual budgets.
Liaising with Auditors, preparation of schedules and activities required for auditing.
Completing external audit by analyzing GL accounts by providing information for Auditors.
Securing the financial information by completing the data backups Sequentially.
Achievements:
Increase profitability by controlling the purchase budget in turn increasing revenue by 9% per annum.
Recovery of old receivable/bad debts and improve the working capital of company.
Company is an economically significant entity and one of the largest pipe manufacturers and exporters in Asia and USA.
Responsibilities:
I was assigned on work related specifically on dealing with banks for imports which comprise of US $15 Million. I was responsible to open the LC with banks till its settlement under bank facility like FIM (Fund against Merchant) and FATR (Funds against Trust Receipt) and taking its effect on accounting system.
Negotiating and obtaining finance for major consignments when bank facility fully utilized and need more fund for imports either by early payments or temporary guarantees on assets of the company.
Mark-up calculation on quarterly basis or consignment basis and Bank reconciliations for major accounts.
Settle the matters with insurance company regarding asset & import consignments and to get better quotations while considering the urgency of consignment.
Preparation of monthly, quarterly and annual accounts for Controlling and forecasting income and expenditure.
Coordination with external auditor for quarterly review of accounts and annual audit.
E-Filling of monthly sales tax return, and lookup on any inquiry arose from tax department.
Preparing reports, budgets and financial statements as requested by management.
Liaising with managerial staff and other colleagues.
Achievements:
Reduce the markup of the company by 4% by settling the finance against FATR/FIM on time.
Safeguarded the company from any fine and penalties by submitting tax return on time.
Responsibilities:
During my short stay in an audit firm I got training on process implementation and tax services and performed following duties:
Process implementation in an FMCG company, one of the biggest distribution of P&G. I was assigned on Purchase workflow, Sales workflow and Financial workflow.
Filing of tax return of individual and cooperate customers. This includes filing of Sales tax (VAT), Income Tax, Salary tax and inquires related to them.
Achievements:
Worked on different section of the organization where we improved the working cycle of involved department and ultimately the resources of the company.
Responsibilities:
Verification of stores and spares purchases by corroborating the demand requisition, purchase orders, goods receipt note and posting them in SQL server based accounting system.
Managing Vendors’ Accounts and forward to payment section as per due date and agreed payment term.
Vendor and Bank Reconciliations when it was required and on monthly basis.
Monthly booking of prepayments, accruals and provisions.
Monthly Inventory count and reporting to Finance manager and Business manager.
Help in Preparation of Budgets specially in purchase budget of product line of more than 450 items.
Preparing Monthly Payroll by Calculating payroll from timesheets and general payroll administration.
Maintaining accurate records of sick/unpaid leave and disbursement of annual unpaid leaves.
Preparation for Provident fund and their subsequent entries monthly.
Achievements:
Fraud detection in Inventory while conducting Inventory count based on suspicious activities in store.
Removal of suspense account by 70% by reconciliation of GL accounts.
ACCA (Association of Chartered Certified Accountants) 2013 AFFILIATE