Chief Accountant
Lootah Building & Construction
مجموع سنوات الخبرة :23 years, 5 أشهر
• Supervision of accounting records by reviewing, validating & approving daily transactions in GL, AP, AR, Inventory & Fixed Assets modules using ORACLE Financial Version 12i
• Liaison with banks for day to day banking transactions and supervision of reconciliations of bank accounts.
• Supervision of sub-contractors/suppliers monthly aging and release of due payments on monthly basis based on fund availability.
• Supervision of Receivables from projects based on work completion and as per agreed term of the contract.
• Finalization of Financial Statements along with relevant notes & schedules on a quarterly basis.
• Reviewing calculations of monthly payroll under WPS, overtime calculations, annual leave salaries and final settlements according to UAE Labor Laws.
• Regularly reviewing and improving existing policies & controls of companies.
• Preparation of monthly and adhoc reports for management.
• Assisting CFO for execution and completion of the annual audit of the Financial Statements, Stand Alone & Group
• Calculation of VAT Payable/Refund and verification of data uploaded on FTA Portal for the VAT return and final payment of the VAT due.
• Review of customer credit application, approval of credit terms from the management.
• Creation and updating of customer data.
• Approval of customer’s Sales Orders based on their credit terms and outstanding balance.
• Management of Accounts Receivables and follow-up with the customers for overdue balances.
• Preparation of customer’s receivable ageing report for entire group and presentation to management on monthly basis.
• Assisting to Manager Accounts for preparation & finalization of Financial Reports, Execution and completion of annual audit of Financial Reports by the external auditors.
• Carried out journal entry preparation, various accounts posting to general ledger, reconciliation, • • Preparing monthly closing schedules, depreciation records and various financial reports like sub-ledgers and balance sheet accounts.
• Supervising the Receipt Vouchers, PDC Receipt Vouchers, deposits and management of cheques and payments received from customers.
• Reconciliations of customer accounts.
• Preparation & finalization of Financial Reports. Execution and completion of annual audit of Financial Reports by the external auditors.
• Perpetuated complete cycle of Import/Export, Letter of Credit starting from L/C opening, review of terms and conditions, or amendments, if needed.
• Checked Commercial Invoices, Delivery Notes, Bills of Exchange, Bills of Lading and Shipping Certificates in accordance with L/C terms, also followed up the same until final payment or full collection.
• Responsible for monitoring the activities of the accounting, reporting, financial analysis and Treasury functions with the aim to ease the workflow and assist in speedy management decisions.
• To finalize MIS Reports along with relevant Notes & Schedules on monthly basis.
• Funds Management
• Liaison with banks, handling all banking matters & bank reconciliation on monthly basis
• Maintained accounting records by reviewing, validating and consequently approving daily vouchers related to GL. Preparation of TT instructions / Cheques for foreign as well as local payments
• Maintenance of Computerized Accounts on Oracle based accounting Software.
• Preparation & Finalization of Financial Statements.
• Calculation of Input Tax and Filing of Monthly Sales Tax Return (VAT) and audit from Sales Tax (VAT) authorities.
• Carried out journal entry preparation, various accounts posting to general ledger, reconciliation, AP/AR handling including other related duties therein. Preparing monthly closing schedules, depreciation records and various financial reports like sub-ledgers and balance sheet accounts.
• Monitoring of Invoicing and accounts receivables from Key Accounts. (large chain stores, hypermarkets, departmental stores)
• Liaison with banks and handling of all banking matters.
• Reconciliation of collection accounts against sales and with banks.
• Budgeting, Expense Monitoring & Audit of branches nation-wide.
• Maintenance of ledgers of Key Accounts i.e. Makro, Hyperstar, Utility Stores & Canteen Store Deptt
• Took active part in implementation of Oracle Financials (ERP) GL Module, AR Module, AP Module and migration of all Module from Oracle Database to Oracle Financials (ERP)
• Supervision of Sales Tax (VAT) Invoices preparation, Input Tax Calculation, preparation and submission of monthly sales tax returns.
• Being a team member, responsible for preparation of monthly, quarterly and annual accounts for management reporting under the supervision of Manager Accounts.
• Preparation and analysis of outstanding position of the company toward running finances and its reconciliation with company’s financial statements. Liaison with officials of lending banks for collection of required information regarding running finances.
• Preparation of daily Cash Flow and analysis of the expenses with budget.
• Preparation of daily sales & cash collection reports. Analysis and reconciliation of daily sales made, cash collected, day by day expenses made and cash in transit etc. Analysis of cash collected vs actual sale.
• Preparation and analysis of outstanding position of the company toward running finances and its reconciliation with company’s financial statements. Liaison with officials of lending banks for collection of required information regarding running finances.
• Supervising the preparation of computerized memo vouchers for all sorts of factory payments i.e. Bank Payments, Cash Payments, Salaries, advances for purchases etc. for onward submission to Managing Director for signature and approval.
• Correspondence with banks for adjustment & clearance of Mark-up payments, Principal Repayments of Long Term Loans, Letter of Credit and FATRs.
• Supervising the preparation of documents and liaison with banks for preparation of Pay Orders, Demand Drafts, Foreign Demand Drafts etc.
• MBA (Banking & Finance) from Allama Iqbal Open University Islamabad, Pakistan as a regular student in 2007-08 with 3 CGPA and Grade 'B'.
• Bachelor in Commerce from University of Punjab, Lahore, Pakistan in 1987-88 with II Division.
• Diploma in Commerce (Higher Secondary) Punjab Board of Technical Education, Lahore, Pakistan in 1985-86 with II Division.
• Metric (Secondary School) Board of Intermediate & Secondary Education, Gujranwala, Pakistan in 1984 with 1st Division.