Senior Accountant - AP
ESAL TRADING LLC
Total years of experience :10 years, 1 Months
Main Role & Achievements:
• Implemented Dynamics 365 Business Central: Master Files, Setups, Chart of Accounts, and liaison with the ERP Consultants and Old Data migration.
• VAT Management: Reconciling Past VAT Transactions, identifying errors, VAT Adjustments, filing VAT returns and advising on Tax ramifications for future transactions.
• Accounts Payable: Reconciling Vendor Transactions, identifying errors, Adjustments, timely payments after balance confirmation.
• Closing Books of Accounts: Month-end and Year-end closing of books, stock taking on year- end, Audit preparation and liaison with auditors.
Job Description:
• Purchases and Payments: Purchase Orders, Warehouse Receipts, Purchase Invoicing, Vendor Accounts Reconciliation, payments to vendors.
• Execute month-end closing procedures and postings in a timely manner.
• Managing prepaid expenses and Fixed Assets Register: payments, and expense schedules.
• Preparation of monthly Profit & Loss report for Actual vs Budget comparison
• Managing TRs (Trust Receipts) payments, documentation and relevant correspondence with banks, along with TTs for Local & Foreign payments.
• Inventory, Payables and Receivables ageing report and other schedules for analysis and audit.
• Audit accounts for errors, misinformation, and overspending.
• Substantial Involvement in year-end closing and preparation of Financial Statements.
• Substantial Involvement in Audit preparation and liaison with external auditors.
Main Role & Achievements:
• Implemented Dynamics 365 Business Central: Master Files, Setups, Chart of Accounts, and liaison with the ERP Consultants and Old Data migration.
• Management of VAT (Tax): Reconciling VAT Transactions, rectifying of errors (if any), Tourist Refund Adjustments, filing VAT returns and advising on Tax ramifications.
• Management Reporting; Sales Reports (Daily & Monthly comparison), FP & A Reporting for current & potential outlets, Expense Reporting
• Closing Books of Accounts: Month-end and Year-end closing of books, stock taking on year- end, Audit preparation and liaison with auditors.
Job Description:
• Supervision and Verification of daily bookkeeping including Invoicing, Billing, AP & AR, bank reconciliation, cash reconciliation, payroll, utilities, prepayments.
• Execute month-end closing procedures and postings in a timely manner.
• Purchases & Vendor Accounts Reconciliation for payment and inter-branches (stores) accounts reconciliation on monthly and yearly basis.
• Preparation of monthly Profit & Loss report for Actual vs Budget comparison
• Financial Planning and Analysis (FP & A) for starting new Stores or continuation of existing ones.
• Computation, management, and monthly journal entries for prepaid expenses
• Managing LCs (Letter of Credit) and TRs (Trust Receipts) documentation and relevant correspondence with banks, along with TTs for Local & Foreign payments.
• Preparation of Monthly Payroll, maintaining employees’ accounts (and loan records) and employees’ end of service settlements as per UAE Labor Law.
• Inventory, Payables and Receivables ageing report and other schedules for analysis and audit.
• Audit accounts for errors, misinformation, and overspending.
• Manage Office Petty Cash and ‘verify and record’ petty cash expenses for company’s retail stores, warehouse, and PRO.
· Prepared journal entries and complete general ledger operations
· Monthly closings and preparation of monthly financial reports for management.
· Reconciled and maintained balance sheet accounts
· Processed payroll activities and keep a record of HR matters.
· Administered accounts receivable and accounts payable
· Assisted with year-end closings and preparation of budgets and forecasts
· Reviewed and process expense reports
· Assisted with implementing and maintaining internal financial controls and procedures
· Recommended financial actions by analyzing accounting options.
· Maintained accounting controls by preparing and recommending policies and procedures.
· Reconciled financial discrepancies by collecting and analyzing account
information.
· Contributed to the teamwork to provide synergic output and boost up the company’s profitability.
• Examined the Books of Accounts
• Inspection of inventory to verify the inventory records
• Preparation of the Audit Findings Report
• Review of the Financial Statements
• Assessment of the Financial Statements
• Ensuring the recording of transactions for compliance with laws
• Assistance of senior Auditors in the preparation of the Audit Report
MBA with major in Finance. Dissertation titled " Investigation of Karachi Stock Exchange for Market Efficiency using Moving Average Rules"
Studied: Business Administration, Accounting and Finance Courses. Internship at and Financial Statement Analysis of SAIF TEXTILE MILLS for a period of 05 years.