Accountant, Payables
Majid Al Futtaim
Total years of experience :17 years, 5 Months
• Lead/Managed the Accounts Payable Department of Middle East Region (Saudi, Qatar, Dubai )
• Assist in documenting Accounts Payable Process to be included in the Finance Manual
• Make recommendations for continuous process improvements
• Provide assistance during Internal & External Audit.
• Perform accruals at month end and prepare adjusting/reclassification entries, if necessary.
• Analysis of Expense Accounts and other AP related accounts.
• Prepare VAT/ Withholding tax reports for review of Region Controller.
• Review General/Sub ledger Balances and reconcile accounts.
• Prepare aging reports with comments and keeping it up to date every month
• Assist in Month End/ Year End Closing (Bank Reconciliations, Variance Analysis etc.)
• Reconcile Vendor Statements and follow up/resolve variances.
• Reconcile aged Purchases Orders and review, investigate through analysis the discrepancies.
• Ensure the accuracy of Vendor Invoices before posting in SAP and that invoices are being processed in accordance with company’s policies and procedure and government regulations.
• Code to correct GL and Cost Centers/Project WBS the non PO Vendor invoices and request approval as per the authority to commit policy and making sure that invoices are charged as per the budgeted projects.
• Perform 3-way matching for PO Invoices
• Verify the correct application of taxes ( VAT and Withholding Tax )
• Clarify any questionable charges and prices by comparing against contracts and tariffs.
• Run payment proposal weekly for approval of Controller and Corporate Treasury
• Ensure that all charges related to government are being deal only with the company’s authorized agents.
• Process expense reimbursements and ensure that it is process and paid according to finance policies and procedures
Accounts Payable Officer in Aviation and Fuels Division
•Verify or validate PO and Non-PO invoices received directly from Suppliers, Operations and from various departments requesting for payment. Ensure that invoices are processed according to agreed terms and conditions.
•Once verification is done arrange payment approvals according to the approval Matrix.
•Booked invoices according to correct GL accounts and Cost Centers, classify if invoice is CAPEX or OPEX.
•Prepare payment Journals and payment vouchers.
•Book payments released from the Bank. Ensure that all payments released are posted by end of month.
•Prepare a summary sheet for Invoices related to construction to monitor the contracted amount, IA and retention.
•Create new supplier in the System as per Standard Operating Procedures.
•Update Vendor details and vendor bank details in the system as per the SOP.
•Prepare Vendor Master Date during month end.
•Prepare Vendor Reconciliation every month for Major Suppliers and Quarterly for Minor Suppliers.
•Escalates/discuss and resolve material issues discovered in the reconciliation to line managers.
•Prepare Ageing at the end of month and provide commentaries for invoices that are overdue.
•Prepare Monthly Balance Sheet Integrity Reports for Accounts Payable related Accounts.
•Monitor Prepayment balances and compare against GRNI and GIT report of Inventory.
•Consolidate all Intercompany Transactions at the end of the month and request to raise an Intercompany Invoices and making sure that intercompany GL account is cleared by end of month.
•Match invoices against payments and Do ledger settlements.
•Maintaining updated, organized and complete records of all Supplier Contracts and prompt concerned parties if contracts are near expiry.
•Ensure invoices are processed in compliance with internal controls and should be paid according to agreed terms and discount is maximized.
•Respond to Vendor queries promptly
•Assist Internal and External Auditors during Interim and Year End audit.
•Coordinate with other team like Inventory team, Fixed Asset Team, Intercompany, GL and Supply Chain team.
•File invoices that are done and stamp it with Posted and PAID.
Assist in the migrating of Company’s Manual Accounting System to Computerized Accounting System using Quickbooks.
Approves Purchase Orders and Billing Statement for Customers.
Monitor Daily Collection if properly deposited to the bank the following day
Check Petty Cash Replenishment
Attend concerns of the supervisors from 3 departments.
Responsible in a day to day Accounts Payable transactions
Reconciliation of various month end reports such as Integrity report or the SL and GL Balances per account, Vendor Reconciliation, Aging of Payables, GRIR Report ( Goods received invoice receipt report), Revaluation Report for Team Leads review and clients approval.
Sending of Issue log to the client for their resolution
Update productivity tracker daily.
Email Clients regarding issues on invoices.
Respond to Vendor queries.
Prepare adjusting entries for Clients approval and for the General Accountant posting
Timely processing of stock/non-stock invoices also includes debit and credit notes and affiliate invoices.
Ensures that all invoices assigned are properly accounted at the end of business day.
Escalates production issues to team lead as appropriate
Leads Daily Huddle
Received Scanned invoices from scanning center
Pre-audit invoices before posting.
Update clients on the status of invoices by sending a processed confirmation.
Check emails from time to time for clients inquiries.
Attend telephone call with the client and Team Lead if there is an issue to be discussed.
Review and encode request for payment from the different department
Double check and encode invoices from storeroom.
Prepares the checks to be paid to the suppliers.
Prepares vouchers for checks.
Calls suppliers’ queries with regards to our outstanding balances.
Prepare accounts payable vouchers, check vouchers and checks.
Prepare auto debit of EXPAT Salaries and regular Payroll
Prepare 2307 for suppliers
File and pay monthly withholding tax and vat return online
Prepare reports related to payables such as aging of payables, schedule of payables, daily cash position report, .etc.
Handles purchasing fund
Attend to member inquiries
Review checks before issuance
• Prepare BIR requirements such as Monthly Vat, Monthly Percentage Tax Returns, Withholding tax, Quarterly Income Tax and Annual Income Tax.
• Helps in the preparation of Financial Statements to be used for external purposes.
• Post daily transactions such as sales, purchases and expenses
• Prepare vouchers for checks
• Review checks before issuance
• Recheck payroll computation
• Prepare Sales Invoices to Customers
• Prepare Billing Statement for Customers
• Monitor Daily Collections
• Deposit Collections to the bank the following day
• Admin Duties as requested by the Company’s CEO
• Perform Cash Count
Dean's List, Rank number 20 in a qualifying exam.