Senior Accountant
Oilfields Supply Services Ltd.
Total years of experience :21 years, 4 Months
• Currently managing Accounts Receivable i.e., billing process, ageing, collections, managing customer accounts, responding to customer queries, preparing, and analyzing reports related to Accounts Receivables (i.e., ageing and collections reports, ECL calculation)
• Performs monthly closing, reviews income and cost and passes closing entries for the month.
• Prepares and analyzes balance sheet and general ledger account reconciliations; prepares management financial reports
• Reviews and validates payable invoices/claims
• Part of the current migration process from IFS to Oracle Fusion i.e., mapping, data provision, testing
• Assists with internal and external audit requirements
• Performs other accounting duties and assisting accountants with their duties as and when needed.
• Accomplishments: Increased collections and reduced majority of the aged receivables by in-depth reconciliation with the customers and resolving invoice disputes. Cleared old outstanding receivables; Reconciliation of long outstanding transactions in various balance sheet accounts.
• System used: IFS
• Task is to validate and process debit notes coming from distributors for sales/opex, ensuring that their claims are complete and correct and adheres to the companies policies and procedures; Communicates with the distributor to maintain a good relationship and improve the processing of claims. Reconciles distributor accounts on a regular basis; PO maintenance; Month-end accruals
• Accomplishment: processed and cleared at least 90% of their 2 years worth of backlogs.
• System used: SAP
Tasks includes the following (but not limited to)
- month end processing i.e., review of expense accruals and prepayment releases, preparation of income accruals and other adjustments, review of ledger
- preparation of management and client reporting
- variance analysis, provide comments to corporate finance
- client invoicing and receipting, coordinate receivables with the Leasing Manager
- bank reconciliation
- review of vendor invoices, purchase orders and ensuring that these are complete and within the approved budget
- provide assistance to Accountant with her day to day tasks
• System used: SAP and Yardi
• Treasury Management
Managed the company’s cash flow, including short term and long term forecasting, handling of funds
Managed bank related transactions such as:
- Preparation of all financial requirements of banks before and during the term of a loan
- Bank covenant calculation and monitoring
- Regular update to banks of financial and legal documentations
- Bank account operations such as account opening, maintenance and closing
- Maintenance of employee credit cards
- Maintenance of online banking access of employees
- Monitoring of bank service and interest fees and addressing of quality issues
- Main point of contact for any bank issue or queries
Managed bank relationships.
Managed quarterly Asset and Liability Committee deck.
Prepared all Treasury related presentations requested by the Head of Finance.
Forecasted bank service and interest fees for analysis purpose.
Prepared all Treasury related journal entries.
Liased with and provided relevant information to internal and external auditors related to Treasury.
Supervised the bank reconciliation process and ensured that all outstanding items are being monitored and resolved.
Other tasks performed includes amendment of the company’s Finance Policies & Procedures, developed processes involving tasks between Finance and Operations, info for Dubai Statistics, and other projects requested by the Head of Finance/CFO, covers for team members who are on leave
• Accomplishments
Headed the setup of Cash Management platform of the company with ADCB.
• Financial Information Management
Involved in the month end closing, preparation of P&L and Balance Sheet.
Analyzed and commented on Operating Expenses and other GL account movements and differences against forecast and budget.
Prepared month-end entries, i.e., accruals, release of prepayments, adjustments, etc.
Maintained the fixed asset schedules, processed depreciation and disposal of assets.
Reconciled fixed assets, key ledger and related party accounts.
Manage the bank reconciliation process.
Managed accounts payable process.
Petty Cash Custodian.
Dealt with all internal and external audit requirements related to various GL accounts.
Involved in the initial preparation of Budget.
Other tasks include providing information to Dubai Statistics and other projects requested by the Head of Finance/CFO.
• HR Administration
Payroll administration
End of service calculations
Employee claims and reimbursements
Settlements, accruals, prepayments
• Accomplishments
Cleanup of Fixed Assets, involving physical count for verification
Cleared out bank reconciliation items that were outstanding for 4-5 years and improved the bank reconciliation process
Completed GL account reconciliations on accounts that have items that have been outstanding for more than 5 years
Trained colleague in performing bank reconciliation
• Project Staff Accountant
Recruited to provide expertise in the maintenance of project accounts mainly in accounts payable (including purchase orders), monthly journal entries, budget analysis and lease for the project managed by the company.
Reconciled all recoverable expenses related to the project and billed it to the respective client, administered the remittance and reporting of sales and sales reconciliation to the client.
• Corporate Staff Accountant
Charged with the responsibility of handling the accounts payable team. Verified the accuracy & completeness of the invoices and posted it in the system, ensured that all invoices were paid on time and reconciled vendor and related party accounts.
Maintained the fixed asset schedules, processed depreciation and disposal of assets.
Posted monthly journal entries and updated month end reports for submission to the management.
• Accomplishments
Significantly improved the accounting process and reporting of the project.
Managed working for both the Corporate and Project Team for some time without compromising the quality of work.
Reconciled fixed assets, key ledger and related party accounts.
Promoted from Junior to Staff Accountant within 8 months from hiring date.
Performed accounts payable function. Handled the liquidation of the employees credit card accounts. Maintained separate books for several project companies. Reconciled intercompany accounts. Provided assistance in month end closing and updated reports for both the head office and project companies.
Accomplishments:
* Liquidated a 3 year credit card account of an employee used for the company.
* Cleared multiple supplier accounts in the system.
Provided various accounting services to local and multinational companies which includes but not limited to:
PAYROLL SERVICES
Computation of payroll and preparation of payroll reports, fund transfers and payslips for client employees based in Bahrain, Morocco, Saudi & UAE; calculation of end of service benefits; finalization and payment of tax, social security and pension were also processed by coordinating with the other Deloitte offices; allocation of cost centres.
ACCOUNTING SUPPORT SERVICE
Accounts payable process from invoice verification and recording, cost center allocation up to the processing of payment to vendors and employees; receivables involving preparation of client invoices and statement of accounts; ledger account maintenance; month end submission of bank reconciliation and financial reports such as balance sheet, income statement and retained earnings statement.
Accomplishments:
* Completed financial reports of clients with 3-5 years of back log.
* Handled 5-7 clients in a month executing both payroll and accounting support functions.
Recorded, classified and summarized day to day transactions. Prepared financial and budget reports and bank reconciliation on a weekly and monthly basis. Processed all disbursement thru cheques and wire transfers. Petty cash and cheque custodian. Monitored cash funding to cover maturing obligations. Prepared quarterly royalty fees computation, purchase and sales order and payroll for call center agents. The work was only related to the branch office initially and was then given a bigger responsibility of handling the head office accounts.
Processed cheque and cash disbursements involving suppliers and member. Recorded day to day transactions. Assisted the finance manager in preparing month end reports and supporting schedules. Checked and verified collections reported by the cashier. Maintained records of the companys site construction. Performed other tasks assigned by the finance manager.