Mohamed Magdy CertIFR, Senior Accountant / Accounts receivables

Mohamed Magdy CertIFR

Senior Accountant / Accounts receivables

Al-Mufid Pharmaceuticals & Food Stuff Co. (Abbot Agency / Nutricia Agency / Pfizer Agency / Mylan )

Location
Kuwait - Al Kuwait
Education
Bachelor's degree, Accounting
Experience
7 years, 7 Months

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Work Experience

Total years of experience :7 years, 7 Months

Senior Accountant / Accounts receivables at Al-Mufid Pharmaceuticals & Food Stuff Co. (Abbot Agency / Nutricia Agency / Pfizer Agency / Mylan )
  • Kuwait - Al Kuwait
  • My current job since November 2021

Responsibilities:
• Commanding all financial accounting process, ensured timely and accurate delivery of all financial reporting requirements including management and accounts reports, monthly TB, profit & loss as well as Balance Sheet.
• Researches customer discrepancies and past-due amounts with the assistance of the Collections Manager and other staff.
• Prepares, posts, verifies, and records customer payments and transactions related to accounts receivable.
• Streamlining the preparation of financial reports/ consolidating financial statements that summarize and forecast the Company's financial position.
• Developing and maintaining financial models that support current and long-term strategic initiatives.
• Upgrading accounting & financials operations, ensuring they are most efficient & cost effective.
• Providing analytics and thought leadership to support the asset and liability management.
• Supervising daily cash management including recording of bank deposits, updating and distribution of cash receipt logs, and posting of cash to the accounts receivable sub-ledger.
• Reconciling accounts monthly to ensure accurate reporting and ledger maintenance.
• Maintaining accounts receivable records to ensure aging is up to date, credits and collections are applied, uncollectible amounts are accounted for and miscellaneous differences are cleared.
• Superintending a dynamic team of Accountants and Financial Assistants, supporting them with inventory management and cost accounting. Providing leadership through a combination of empowerment and coaching with the objective of encouraging staff development and elevating team performance.
• Creates reports regarding the current status of customer accounts as requested.

Accounts Receivable / Senior Accountant at Teixeira Duarte Engineering and Construction Company
  • Kuwait - Al Kuwait
  • June 2020 to November 2021

Teixeira Duarte, S.A. is the company that leads a large conglomerate with 11, 000+ workers, present in 22 countries, in 6 sectors, achieving in 2019 a turnover of 877 million Euros. It has almost a century of proven experience with projects all over the world.
Accomplishments:
• Supervised all financial/ accounts payable transactions and assisted in the month and quarter-end closings.
• Ownership of handling all responsibilities related to receivables, payables, GL accounting and contract management.
• Demonstrated aptitude in financial reporting analysis, forecasting, and cash management.
• An analytical process-minded thinker with an ability to assess, recommend and implement process improvement, therebymitigating cost.
Responsibilities:
• Managed day-to-day accounting function, overseeingthe preparation of financial statements and performing month-end responsibilities including monthly journal entries and reconciliations.
• Handled all accounts payable functions for the accounting department, adhered to company procedures and policies. Reviewed requests, audited claims, and processed payments.
• Tracked expenses and generated expense reports. Audited contracts, orders, and vouchers, and prepared reports to substantiate individual transactions prior to the monthly close process.
• Processed invoices into an automated billing system. Reconciledsupplier statements and corrected discrepancies.
• Managedaccounting tasks related to petty cash disbursement/expenses, ensured accuracy, speed and efficiency.
• Liaised with Auditors, supported year-end and interim audit work, ensured key deadlines are met and provided evidence and technical analysis to explain transactions.
• Organized, prepared and shared all digital documents withthe outsourced accounting firm.
• Handled, processed and maintained all vendor files, responded to all vendor inquiries.
• Resolved accounting discrepancies/irregularities. Ensured accurate recording and analysis of revenues and expenses.

Accounts Receivable Accountant at PERI Kuwait for General Building Contracting Company
  • Kuwait - Al Kuwait
  • May 2018 to May 2020

PERI is one of the world's largest manufacturers of formwork and scaffolding. In addition to the parent plant & headquarters in Germany, more than 70 subsidiaries and over 160 logistics centers are operated. It employs over 9, 500 employees and generated annual revenue of € 1.56 bn.
Accomplishments:
• Drove high performance and cost savings by establishing metrics and best AR practices. Successfully reduced both debtor days as well as the critical debtor balances by facilitating payment of invoices due by sending bill reminders and contacting clients.
• Presided over day-to-day accounting function which includes receivables, cash management, billing, invoicing and handling bank deposits.
Responsibilities:
• Spearheaded all accounts receivable activities, including defining policy/controls, establishing processes & procedures, resolving issues, monitoring/analyzing accounts receivable balances and creating reports and business intelligence.
• Managed day-to-day financial transactions including verifying, classifying, computing, posting and recording accounts receivables data.
• Generated financial statements and reports detailing accounts receivable status.
• Ownership for daily management of accurate, consistent, and timely invoice deliverables/ Credit or Debit note/ Billing cycle and procedure for Customers.Verified discrepancies and resolve clients’ billing issues.
• Prepared aging reports every month and followedup with the customers for the due amount of the invoices.
• Streamlined and controlled accounting activities, ensured timeliness, accuracy and analyzed variance and implemented corrective actions as required by management.

Accounts Receivable Accountant at Green Wing Company - Anotah
  • Kuwait - Al Kuwait
  • September 2016 to May 2018

Anotah was founded in 1998 With one store in Kuwait and has expanded to more than 41 stores across the Middle East including Saudi Arabia, UAE, Bahrain, Qatar, and Oman along with its strong online presence on ANOTAH.co.
Responsibilities:
• Managed the monthly AR close process including reconciliation of AR sub-ledger to GL and preparation of AR month-end schedules, revenue reporting and reconciliation to GL and metrics used for internal reporting.
• Collated special financial reports by collecting, analyzing, and summarizing account information and trends.
• Verified validity of account discrepancies by obtaining and investigating information from Sales. Researched and resolved payment discrepancies.
• Developed inventory analysis reports and analyzed variances. Reconciled inventory accounts to the general ledger.
• Handledonline payroll transactionsafter reviewing salaries for employees after considering any leave deduction or other instruction and deducting loans due from the employees.
• Assisted in preparing financial statements as well as month-end and year-end closing/ reporting functions.

Previous Professional Experiences:
• November 2013 - January 2016: Retail Accountant - Oracle system - Comsys System, Al Safy for Import, Export, and Commercial Agencies (Al Safy Group - Orange Agent)

Education

Bachelor's degree, Accounting
  • at Faculty Of Commerce
  • May 2014

Bachelor's degree in Accounting, Faculty of Commerce – Egypt, May 2014

Specialties & Skills

Cash Management
Budgeting
Financial Reporting
Financial Modeling
Financial Planning
Management Accounting
Account Payables
Account Receivables
Financial Modeling
Financial Reporting
Balance Sheets, P&L Statement
Budgeting & Forecasting
Cash Management
Accounting Applications
Team Management
Critical Thinking and Leadership
Financial Planning & Analysis
Analytical Skills
Training, Knowledge Transfer

Social Profiles

Personal Website
Personal Website

URL removed due to policy violation. Please contact support for further information.

Languages

Arabic
Expert
English
Expert

Training and Certifications

Financial Modeling Expert using MS-Excel – Inspire Center, Kuwait (Certificate)
Date Attended:
December 2019
Qualified Accountant Certificate from Institute of HPA, Egypt (Certificate)
Date Attended:
December 2014
Certificate in International Financial reporting (Certificate)
Date Attended:
January 2023

Hobbies

  • Reading