Accounts Receivable Manager
Arabian Hala Company Ltd
Total des années d'expérience :15 years, 7 Mois
Significant Highlights across the tenure with the organization include:
• Daily sales monitoring, verification of RAC charges on daily basis to trace where internal controls are lacking or policy being violated.
• Monthly Sales monitoring, verification of lease & RAC invoices for corporate customers, having charges accordingly to PO approved by customers.
• Managing receivables ageing and focusing on Key customer accounts for quick payment to reduce collection days.
• Taking Accrual for RAC open contracts as per policy approved, Lease accrued revenue for vehicle delivered but not invoiced.
• Taking provision for doubtful debts and court cases as per policy approved by management.
• Month end reporting to management, containing divisional, regional, monthly and year to date reporting while comparing with previous period and same period during last year. Calculating variance analysis and placing justification for Favourable/adverse variances.
• Collects accounts by contacting customers referred by Regional accountants, investigating circumstances of non-payment, negotiating and resolving conflicts, expediting payment.
• Inter-department daily communication with Sales and operation staff, to enhance coordination and resolving customer's conflicts together.
• Verification for incentive calculation for rental agents, lease salesmen and collection department.
• Providing the budget information for the annual accounts receivable, monitoring expenditures, implementing corrective steps and identifying the variances.
• AVIS Licensee fee calculation as per agreed terms and percentage, monthly reporting to ABG.
• Taking proper accounting treatment for inbound/outbound reservations and charging back for wrongly invoiced amount and finally balance reconciliation with ABG.
AVIS Europe/Internal Audit Rule
• Have key role while preparing annual financial statements for external auditing by Ernst & Young. To enhance external auditor reliability, have been testing internal controls and business processes off & on and preparing reports for management.
• Have done certain internal control assignments, testing internal controls comprehend Revenue, collection, deposits in the sense of documentation required and transaction flow itself.
• In absence of internal audit department, I did role as internal auditor while AVIS Europe team was auditing 2010-2014. Prepared comprehensive containing business process for revenue, internal control implied and evidence for test of control done by AVIS Europe team.
• Have been central point of communication between AVIS KSA & AVIS Budget Group. During Audit, i prepared data for operational revenue versus revenue reported. Also explained no financial reporting for areas covered by agreement between both parties e.g Fleet mix, models, mileage etc.
• In absence of Non-executive directors & Audit committee, have been reporting all internal control weaknesses directly to CFO which is not best practice but I had to.
Job Responsibilities,
• To establish strong internal control systems for accounting transactions, that enhances accuracy and authenticity of financial transaction.
• Application of IAS 11 Accounting for Construction Contracts particularly.
• Financial analysis to forecast payments to Key Suppliers and cash management.
• Pursuing the recovery from invoice raise to clients by pushing recovery department.
• Controls on procurement (Supplier selection & rates verification on random basis).
• Controls on Petty Cash & Bank transactions and weekly reimbursement of float.
• Verification of Payroll, whether it is according to attendance sheets and salary packages are as agreed in employee’s contract.
• Reporting to the General Manager to support the successful execution of projects by monitoring and advising on financial performance.
• Making Sure about Company legal documents, renewed b admin department.
• Verification of Employees Service Benefits & Bonus etc.
• Special challenges include working together and building relationships with the counter party.
• Controls on accounting data entry & record keeping.
• Controls on Financial Statements Preparation while applying appropriate IAS & IFRS.
• Enhancing reliability of External Auditor (MOHAMMED AL-S. Al HANAKY) on Financial Statements by maintaining strong Internal controls.
• Maintain appropriate internal controls, reporting systems and policies to ensure the accurate and timely reporting of information to head office.
• Review invoices for appropriate documentation, approval & prepare for encoding into the system.
• Record financial transactions according to accounting policies and procedures
• Review of closing adjustments at month end.
• Maintain files and documentation thoroughly and accurately.
• Checking posting to ledgers, control of petty cash, monitoring budgets, stock control, sales invoicing, cost and expenditure controls, reporting to trial balance, general ledger, supplier and bank reconciliations and other finance related tasks.
• Implementing the accounting procedures and ensure that all surrounding controls are adhered to.
• Responsible for maintaining project cash flow models, project cost control, budgetary control, monthly and quarterly financial performance reporting, maintaining the job costing system and project financial risk management.
• Responsible for recording all transactions within the office, accounts payable, accounts receivable, banking and payroll services for group companies.
• Prepare monthly, quarterly and annual financial performance reports, statements and statistics.
• Verify payment vouchers, receipts vouchers and journal vouchers on random basis.
• Bank Reconciliation & all bank related works.
• Preparing month-end calculations for accruals & Prepayments.
• Preparing & maintaining budgeting process
• Process documents claiming debit and/or credit financial dues, ensuring accuracy, completeness, and timeliness.
• Monitor physical count of company assets.
• Preparing confirmations for banks, receivables, payables and lawyers letter.
• Physical verification of fixed assets, stocks and investments. Appropriateness of capitalization of expenses.
• Making the cash count, and paper of value to ensure compliance with the entries and financial records.
• Reviewing and documenting Board and other committee’s minutes.
• When issues arise, address them to the senior associate on a timely basis and together decide whether it is necessary to refer the matter to the manager.
• Keep the senior associate up to date on my progress and issues at the end of each day.
• Assist and recommend the clients of BAKER TILLY MEHMOOD IDREES QAMAR on the significant accounting and reporting issues including recognition, measurement and derecognising of financial assets and liabilities that inter-alia includes derivative Financial instruments i.e. forwards, options and swaps.
72% in corporate reporting