Accountant
Rotork Middle East
Total years of experience :16 years, 6 Months
Credit Control and Accounts Receivable Management
o Process credit limit requests and create customer master
o Verify the invoicing instruction along with customer PO and post sales invoices
o Monitor AR position and follow up on payments and meet customers to maintain the DSO KPI
o Co-ordinate with the contracts team to expedite and resolve the queries raised by the customers
o Prepare journal entries for adjustments as required
o Report overdue position to Group Credit Controller and Credit Insurer and process credit insurance claims
o Report weekly on division-wise order intake and revenue and analyze variances from budget and forecasts
o Provide ad-hoc reports as requested by management
Accounts Payable, Intercompany and Petty Cash
o Verify suppliers’ and inter-company invoices with the POs and GRNs and posting it to the ERP
o Reconciliations suppliers’ and intercompany SoA for month closing and payment processing
o Verify and settle the expense claims submitted by the employees
o Maintain office petty cash and process claim replenishments
Bank Transactions Processing
o Record of customer receipts and supplier payments
o Review LCs and submit documents thereof to the bank
o Monthly reconciliation of bank accounts
VAT Records and Reporting
o Maintain the VAT Input and Output files and reconcile with the respective VAT accounts.
o Coordinate with the consultant for VAT application and return filing
Liaise with internal and external auditors and comply with audit requests and recommendations
Supervision of Accounts Receivable and Accounts Payable Team
o Verify lease contracts, debit notes, receipts, Ejari and required supporting documents
o Monitor banking activities of current accounts and prepare monthly reconciliation
o Review and monitor AR aging report
o Co-ordinate with legal department on bounced cheques and disputed dues
o Review LPOs and AMC’s and approve on behalf of accounts department
o Verify suppliers’ and agents’ invoices and ensure three way matching and compliance with authority matrix and post the invoices to JD Edwards ERP
o Analyze utility bills and post to JD Edwards ERP
o Authorize petty cash transactions and approve replenishments
o Verify security deposit refunds
o Review and approve supplier payments
o Fine tune and Improve the processes and identifying best practices to implement
Process and Review of monthly Payroll
o Process monthly payroll using Civil Soft HR Management software
o Check over time, leave pay, final settlement calculations
o Review of incentives to sales team
o Ensure that deductions/additions, if any, has been made
Reconciliations of General Ledger, Inter-Company Accounts, Fixed Assets and Control Accounts
o Reconcile GL/Inter-company/Control Accounts with provision/prepayment calculations or sister company statements and transactions
o Maintain fixed assets register and depreciation workings and reconcile with FA ledgers
Monthly Financial Statements, MIS reports and Special assignments
o Run the monthly rental revenue JV-Journal entries and post it in JD Edwards ERP
o Run the accruals and prepayments JV--Journal entries and post it in JD Edwards ERP
o Review of reports generated by the ERP system and prepare monthly Divisional MIS reports
o Prepare Profit Center Wise Cost & Income Reports and monthly analysis
o Analysis of variances from budget and add notes to the MIS reports
o Assist in rolling budget processes, and highlight any anomalies or gaps for review with management
o Implementation of ERP - Oracle JDE
o Establish and control accounting activities on acquisition of properties
o Conduct periodical stock taking of inventory at stores
Financial Auditing, Outsourced Accounting and MIS Reporting
o Conduct financial audit of accounting records and reporting system
o Prepare and critically review audit reports and financial statements to ensure the compliance with IFRS and Federal Commercial Companies Law
o Outsourced accounting - from setting up Chart of Accounts to Periodical MIS and Financial Reporting - of construction and oil field companies (project accounting), schools, hotels, restaurants, retail shops, etc. - following the SOP’s and generally accepted accounting procedures using various accounting packages
o Maintain required registers, schedules, calculations and workings viz. for fixed assets and deprecation, employee benefits accruals, etc.
o Develop business plans, feasibility reports and projected financial statements
o Take part in due diligence investigation for business acquisitions and take overs
o Prepare monthly financial statements and MIS reports
o Finalize accounts and liaise with statutory external auditors or group auditors - Big 4 - for audit matters
o Report to engagement partner on ongoing work performance
o Discuss audit findings and solutions with top management and senior staff members
o Delegate appropriate work to junior staff members and review their work
o Provide on-the-job training to junior staff members and clients’ accountants
o Recommend best practices to improve the processes
o Periodical closing and finalization of books of accounts and audit finalization ensuring statutory compliances of Income Tax Act, Value Added Tax Act (VAT) and Companies Act
o Bank audits - annual audits, quarterly reviews of compliance with Basel I and Basel II requirements and concurrent audits
o E-filing of VAT and Income Tax returns and annual accounts with regulatory authorities
o Prepare and review of various reconciliation statements
Pursuing CA Final