Finance Manager
Circle Global Logistics DWC LLC
Total years of experience :18 years, 3 Months
Worked on treasury management i.e. Bank Loan, Security & Guarantee Cheques, LCS, financial reporting with IFRS, and Aging reports for AP and AR, overall supervision of the Finance and operation Team. Identified and reconcile items affecting the balance Sheet and managed all End of month with accruals functions, responsible for Balance Sheet reconciliations, Budgets feeds and assist in preparing monthly Forecasts. Apart from the above these are the task which common across to my position:
• Supervision of daily and monthly reporting
• Analyzing targets, business processes and comparing current performance with previous years.
• Meeting with management to discuss all the core issues.
• Managing and coordinating on monthly reporting, budgeting and reforecast processes.
• Providing back office services such as accounts payable, Collection and Payroll
• Monitoring cash flow
• Liaising with accountant team and supervising operation staff & assisting on its monthly review.
• Providing insights on the financial health of the organization.
• Ensuring the business meets all its statutory and compliance obligations, including statutory and compliance obligations, including statutory accounting and VAT issues.
• Keeping track of market trends
• Looking for cost-reduction opportunities.
• Developing relationships with external contacts such as auditors, solicitors and Customs
• Evaluating the impact of business decisions, such as mergers and acquisitions and identifying ways to operate more cost-efficiently.
• Worked on treasury management, financial reporting, and flight movement reconciliation with GACA airport fee, payroll & Aging reports for AP and AR, overall supervision of the Finance Team. Identified and reconcile items affecting the balance Sheet and managed all End of month with accruals functions, responsible for Balance Sheet reconciliations, Budgets feeds and assist in preparing monthly Forecasts
• Follow-up of customer's collection in accordance with payment due date by calling in a professional manner while keeping and improving customer relations, mail correspondence to customers to encourage payment of delinquent accounts, identify issues attributing to account delinquency and discuss them with management.
• Initiated weekly discussion with management on AR Aging report, especially on collection that achieved best results and reduced AR balance from 139M to 73M). Monthly variances review meetings on Budgeted and Actual numbers.
• Managed financial deficiency targets after successful negotiation with suppliers on releasing security and advances that positively impacted on cash flows and initiated weekly discussion on the AP Aging reports with AP team for Cleanup
• Managed the process of accurate financial statements prepared in compliance with the IFRS requirements; and ensured timely closing of accounts, delivered reports in pre-determined deadlines and coordinate with auditors for on time finalization of accounts.
• Preparation of all documents related to accounts receivable, accounts payable, accruals, cost accounting, inventory, fixed assets, revenue ensuring they have been accurately recorded and processed into company system
• Effective deployment of ERP (Microsoft Dynamics Ax) by major finance and operational areas and migrated old data to new ERP system i.e. Ms. Dynamics AX and checked each transaction, reconciled and verified subsidiary ledger with the GL control account and supported ERP admin for smooth operations of all departments.
• Profitability on each flight through ERP (Microsoft Dynamics Ax) & process successfully implemented
• Successful implementation of VAT through ERP (Microsoft Dynamics Ax) in the light of IFRS
• Managed the process of preparation, collection, and storage of accounting supporting documents for the purpose of accounting and ensure timely and accurate recording of Company s business activities, asset movements, generation of income and expenses, fulfillment of obligations at the accounts
• Successfully managed activities of the company in the absence of Finance Manager (resigned) in the role of Chief accountant for more than one years and Established and maintained strong relationships with senior executives so as to identify their needs and seek full range of business solutions.
accurate and timely consolidation and analysis of the company's financial results, from start to finalization.
•Managed the intercompany process to ensure transactions are recorded on both sides, invoices are issued and settled timely in accordance with intercompany agreements, and accounts are reconciled
•Managed annual statutory audit requirements and related activities, prepared and reviewed external and internal financial reporting, i.e., information sharing with banks, investors and the executive management.
•Key role in ERP Tally implementation projects, participated and added input on design, testing and deployment of the system phases in the light of company and department requirements.
•Monitored performance of branches, carried out reconciliation, audit and trainings.
•Supporting senior management in department’s progress and advising them areas where attention is required to strengthen their decision making process. Contributed strategically in department’s progress and other focus areas
•Complete reconciliation process between GL, subsidiary ledgers and bank accounts, etc.
•Supported key decision making in absence of senior management within delegated authority
•Lead and developed teams by motivation, trainings and excellent interpersonal skills
•Reconciled vendor statements and handled payment complaints or discrepancies.
•Balanced monthly general ledger accounts to accurately record and month end accruals
•Reconciled discrepancies between accounts receivable general ledger account and accounts receivable trial balance account.
•Created periodic reports comparing budgeted costs to actual costs and
•Always remained focus on the accounts receivable collection especially on the disputed invoices.
intercompany & clearing houses (CH) all over the KSA region and 86+ CH countries. Successfully resolved invoice disputes with Agents and CH countries & regular follow ups with CH countries for Profit/Loss Shares.
•Consolidated data for 3 branches, supporting Director of Finance MENACA and received feedback from the branches on month ends.
•Preparation of Profit & Loss and Balance Sheet on month ends with downloaded Trail Balance.
•Maintained records of containers’ deposit (subsidiary account) in Peachtree, prepared Aging and followed up with shipping line overall reducing the Balance of 6M to 1.8M, one of the greatest achievement, highly appreciated by the company CEO.
•Computerized Accounting on Plus2000 (ERP System) and Ms. Office environment. (Mainly on Excel), which included downloading / uploading information, such as:
•Accounts Receivable in Excel for Aging receivables/ Day Book, to evaluate business for the month with respect to GR & NR/ Customers individual record, for receivable bal. and following up in regards to payments/ Accounts Payable in Excel to prepare Aging for all branches/ Bank Accounts Ledgers, for reconciliations on month ends with bank statements.
•Preparation of various reports and analysis as requested for management reviews.
•Payroll and Housing Allowance, calculation of ESB, vacation and ticket fare.
•Preparation of Cash, Bank and Journal Vouchers, Credit & Debit Notes.
•GL Reconciliation of various suspense accounts
•Active communication and coordination with all levels to contribute in areas of improvement and growth
•Presented recommendation for reducing waste and maximizing profits, i.e., to achieve budgeted Targets of EBIT/EBITDA at month ends, highly appreciated by Director of Finance (MENACA) and CEO that resulted into regular input on regional portfolio of KSA and UAE.
•As fact of the above and in appreciation, Director of Finance (MENACA) offered to support him in his portfolio at Regional Office Dubai.
•Facilitated successful internal and external audits through sound and thorough documentation.
•Supervised invoice processing, purchase orders, expenses reports, credit memos and payment transactions.
•Reviewed all expense reports for accuracy and proper expense disclosure.
•Created daily and weekly cash reports for accounting management.
•Analyzed and researched reporting issues to improve accounting operations procedures.
company’s daily expenses and revenues as well as preparing, analyzing and verifying financial documents.
•Maintaining close contact with procurement and suppliers to schedule difficult payments with cash flow.
•Directing cost control departments reconciliation with accounts data to ensure proper data sharing between OM and finance
•Supervising the monthly closing
•Reviewing TB monthly ensuring proper allocation of expenses in to proper heads.
•Sharing monthly income statement project wise to each PM for their review and comments
•Preparation of monthly performance report for management and internal controls.
•Preparation of yearly budget for the company.
•Preparation for variance report of budget vs actuals for the company and project wise monthly
•Various MIS reports for the management assisting in decision making
•Finalization of salaries in coordination with the HR
•Close monitoring of KPI’s of subordinate and advising on the improvements.
•Development and implementation of processes to support monthly provisions for employee benefits as well as costing.
•Developed, maintained, and analyzed budgets, prepared periodic reports and variance analyses on budgeted costs to actual costs
•Dealings with Banks, preparing regular bank reconciliations and opening Letter of Credits (L/Cs) for the company
•Managed the hiring process from start to end for the company, 256 employees for various job roles and it included interview and selection in Pakistan
Conducted audit of Zakat fund, Awarded to:
Provincial & District Hospitals, TB Centers, Technical & Vocational Colleges, Provincial (PZC), District (DZC) and Local (LZC) Zakat committees, Handicraft Development center and was working thoroughly on Preparation of different reports for Audit, Recovery of embezzlement Fund, Recompilation of PZC account with DZC Account.
Accounting on Peachtree, Quick Books, Tally and MS office environment
•Worked on tracking company’s daily expenses and revenues as well as preparing, analyzing and verifying financial documents :
•Payrolls, provident funds, Cash, Bank and Journal Vouchers, Production, Circulation, Advertisement, Debtors and Creditors records.
•Supervised accounting records of branch and bureau offices
•Dealings with Banks, preparing bank reconciliation
•Opening of Letter of Credits (L/Cs), preparation of Import/Export documents for the company and dealing with clearing agents for clearance procedures
•Successfully handled the company’s leasing of Vehicles and Machinery processes with leasing banks and institutions.
•Preparation of different reports for Audit / Tax purpose and analysis using Advanced Excel Techniques, graphs and trend lines
•Dealing with Insurance Companies regarding import and export of goods
•Dealing with all Consultancy and Corporate Law matters of the company with Security and Exchange Commission of Pakistan (SECP)