Assistant Manager
Darwish Bin Ahmed & Sons LLC. - United Motors & Heavy Equipment Co. LLC.
Total years of experience :17 years, 0 Months
Responsibilities:
• Analyze and monitor the transactions taking place in an organization and ensure that they are recorded according to the accounting standards.
• Prepare & analysis financial statements and reports within the deadline and mark entries in the accounts book.
• Participating in Financial Suggestions & Decisions.
handling 1)Accounts Receivable: (From Jun-2007 To Jun-2009)
Handling 2)Accounts Payable: (From Jul-2009 To Dec-2011)
Handling • Trade Finance : (Jan-2012 till date)
Petty Cash Handling for 6 divisions and supervising the same for different locations in the company
Reviews all petty cash claims, ensuring that same conforms to company policies and procedures.
Verifying before submission the (SBLC's, LC’s & LCs amendment) & Bank guarantees (LGs), once extensive consideration/investigation of exposure has been completed.
Verifying payments and documents to ensure compliance to LC terms. This includes verification of complex pricing and delivery terms as per supplier contracts
Monitoring the closure of Credits and Bank guarantees to effectively manage the company credit line.
Monitor all LC payments accounted in ERP system through verification against each purchase order and Invoices along with cross checking, confirming & authorizing to book the bank charges\ commission as per agreed tariff/facilities sanctioned with banks
Ensure that all the documents per LC terms are available to be handed over to Logistics Department for shipment clearance.
At present dealing with 5 banks ( Mashreq, NBF, UNB, ADCB & FGB) and monitoring online banking
Submission of Tender Bid Bond & Performance Bond wherever applicable.
Monitoring bank reconciliation for cash credit as well as current account on a monthly basic.
• Insurance : (Jan-2012 till date)
Responsibilities:
Processing annual insurance renewal policies of marine, motors, property all risk, overseas Interest, fire & allied perils, money, fidelity, Public liability and Workmen's Compensation policy
Sending Insurance Coverage requests for all shipments requiring insurance cover from our end.
Request for issuance of Insurance Certificates under our Fleet Policy for newly purchased vehicles.
Periodic review of fidelity insurance to ensure that newly joined employees handling cash are covered and separated employees are immediately cancelled and premium paid refunded.
Handling accounting process in a New Branch in Saudi Arabia (Jan-2012 till date)
Monitoring the below Reports
AR-GL Reconciliation Report.
AP Clearing Reconciliation Report.
Inter-company Reconciliation Report.
Inter Division Reconciliation Report.
Monitoring, capitalization of assets. Calculation/posting depreciation, Verifying assets ledger
Cross checking Adjustment Entries and schedule (prepaid admin exp., prepaid rent exp., prepaid insurance exp., and prepaid IT related expenses).
Verifying the below transactions:
Verifying the Processing of all accounting aspects that related to account receivable.
Verifying the Processing of all accounting aspects that related to account payable.
Verifying the Processing of Posting all JV entries and Supervise the analysis, summarization and maintenance of general ledger accounts.
Oversee, review and approve release of all payroll activities such as employee termination benefits (e.g. final settlements, pension payments, claims etc.) while ensuring alignment with the entity’s Human Capital policies and other applicable labor laws.
Review and approve all monthly payroll transaction in order to ascertain that all payments are accounted for in the financial system.
Liaise with external auditors and third party advisors and support the year-end financial audit, providing consolidated statutory accounts and audit files where required by external auditors.
Prepare analytical reports highlighting variances in spending and submit them for review.