NASHEED SHABIH

-  • Oversees daily report of BANK STATUS (Cash/Funds Position at Banks) for Management.
• Cash Management through internal funds transfer between the various company, Bank accounts to cover obligations such as LC Payments, Murabaha Installments, payments to Suppliers / Sub-Contractors and Monthly Salaries.
• Bank Reconciliations
• Posting of Bank Payment Vouchers (Payments Through Cheques) and Bank Vouchers against Banking Transactions related to Letter of Credits, Letter of

Guarantee Telex / Funds Transfers, Bank Charges, Payments Transfers from Clients, Murabaha Installments.
• Posting of Monthly Salary of the Company over KD 1.5 Million, Employees Leave Salaries and Final Settlements.
• Purchase Orders and Petty Cash Approvals.
• Lead team of Senior Accountants, Accountants, Cashiers, Bank representatives to ensure the smooth functioning of the Treasury Section.
• Supervising LC’s opening, LC Amendments Process.
• Finalizing and review monthly closing of all accounts with the team.
• Engaged in the preparation of Finance Department Policies and Procedures in liaison with QA/QC Department.
• Updating Business Risk Management Register of Finance Department every quarter as per the guidelines and requirement of HSE and QA/QC departments.
• Monthly Debt Report for Parent Company.
• Handling Agency Accounts for various International Korean Companies being HOT Engineering act as an agent for them in Kuwait.
• Oversee Murabaha Transactions under the agreements with Local Banks.
• AP & AR Reconciliation.
• Handling contract accounts, regarding calculation of accumulated transactions for Sub- Cont. payments, Retentions, Insurance, advance payments recovery.
• Assisting Finance Manager in the preparation of BALANCE SHEET, for on-the-job tasks & for the Preparation of different reports, closing, accruals, prepaid JV's and Fixed Assets and deprecations.
• Assisting Auditors at the time of annual audit. Providing them Year End Final Reports of Banks & Murabaha, Salary analysis, accrued expenses analysis, Pre-Paid exp. Analysis and analysis for various ledgers for Auditors.
• Responsible for opening new Accounting Codes in system.
• Custodian of Banks Secret Codes for online operations.
• Key User in the transformation of the legacy system to New ERP System in the company.

- Worked with Senior accountant on various (on the job) tasks like Vendor (AP) reconciliation, Goods Receipt Costing, Receivables Reconciliation, Posting and Checking CRV’s, CPV’s.
- Debtors Aging Analysis.
- Checking of accuracy of various transactions like adjustments, transfers, invoices, returns, goods receipts and FREE issues to the trade belonging to various departments like Unilever, Lipton, Walls, Nestle, to name a few(we have 12 departments). This is a huge operation involving bulk transactions due to nature of business being FMCG (Fast moving consumer goods).
- Preparation of debit notes.
- Liaison with Sales team, Cashiers, Customers and Head Office accountants.
- Presenting to Financial Controller Customer History/Credit Status report to enhance credit limits of deserving outlets along with their statement of accounts.
- Physical Inventory and Adjustment in System.
- Posting of Cash & Credit Invoices on a daily basis against orders of customers divided into four market segments, i.e., Co-Operatives, Wholesale, Retail, and Specialized Stores for goods supplied by Unilever Arabia, Lipton, Nestle and Walls.
- Handling of Purchase Orders, Store Receipt Vouchers, Sales Returns (Arabic), Transferring of Stocks to different store locations and Invoicing of Shop Sales (Arabic), Adjustments for damaged goods (Arabic) and Case Breaks.
- Preparation of Analytical Reports for Sales Managers, such as Salesmen Performance Reports, Stock Movement Reports, Customers Reports on Daily/Weekly basis.
- Updation of English + Arabic Master Data of Items and Customers in the system, Creation of Codes for new Items, Maintaining Data Bank for Walls Ice Cream Freezer Locations. (More than 900 Freezer locations in Kuwait.)