Finance Manager
Juzur Canary Restaurants Co. (Subsidiary of Securities House)
Total des années d'expérience :22 years, 8 Mois
• Organized and enhanced Finance Department work-flow, entries recording and documents filing.
• Developed Recipes’ Ingredients File in coordination with Central Kitchen's Chef and Operations Manager to monitor the food cost.
• Implemented new ERP & POS System (Microsoft Dynamics 365) to accurately measure and control company’s Food Cost and overall expenses.
• Assisted in implementing a new Payroll System.
• Structured and enhanced the ordering process between Restaurants & Central Kitchen which minimised food waste and saved processing time.
• Structured raw material stocking, receiving and issuing processes.
• Modified the monthly P&L which increased accuracy of financial reporting.
• Developed weekly cash flow projections with tracking and analysing the variances.
• Developed daily Cash Collections & Bank Deposit process.
• Developed annual budgets for the business, with monitoring actual performance versus budget and reporting the variances to top management.
• Developed Financial Projections model for New Stores.
• Reviewing the company's financial statements to ensure they are accurate.
• Preparation of Quarterly and Year-end Financials.
• Efficiently drove and guided the team to utilize the accounting system and maintain the recording of accounting entries in relevant periods.
• Created different Cost Centres for the posting and reporting of each Project Revenues & Expenses.
• Created various “Balance Sheet” & “P&L” Accounts for accurate recording of the entries in the accounting system.
• Initiated & implemented monthly closing process and periodical Financial Reporting, Monthly & Quarterly.
• Generated Revenue & Cost Analysis reports, with comparison to different periods.
• Trained the Accountants, improved their performance, segregated their duties, and developed clear job descriptions for each one of them.
• Enhanced payment process & procedures, with having authorization to sign checks and approve online payments & salaries.
• Organized Finance Department internal processes and documents filing.
• Handle large databases to generate various Financial & Operations Reports.
• Created comprehensive weekly and monthly Sales & Financial Reports.
• Preparation of Quarterly and Year-end Financials.
• Preparation of Financial Projections for different projects.
• Working closely with CEO to implement company’s visions and directions.
• Managed a team of 9 accountants by developing whole finance department’s structure, and reallocating & reassigning all team’s tasks.
• Structured & developed the Charts of Accounts, and built-up TB, P&L & BALANCE SHEET.
• Improved Retail Operations by solving various operational issues related to inventory items stock, Items Barcoding, Scale Pricing and Costing, Items' Receiving and more relevant issues.
• Organized and classified the accounting of different business segments’ activities with reporting the results.
• Restructured & classified company’s Fixed Assets, and enhanced a new Assets Register Report.
• Classified Inventories, Payables & Receivables into major Sub Ledger groups with allocating corresponding GL Accounts.
• Guided & trained the accountants on practing all system's accounting modules, SL/GL posting, and reconciliations issues.
• Implemented the integration between 2 different systems, “Victory Arch” System (for Inventory & Point of Sale) and “Microsoft-Great Plains” System (for Accounting), and monitored resulted Transactions, analysed, and solved the issues.
• Implemented a new Payroll System.
• Monitored business performance and fixed Operational weaknesses.
• Prepared monthly performance reports and implemented & completed 2018 Audited Financial.
• Organized and enhanced Finance Department’s overall performance.
Growth Path:
-May’08 - Sep’11 Accountant (at Track Learning Solutions Co. - Subsidiary of Humansoft Holding)
-Sep'11 - Mar'14 Senior Accountant (at Track Learning Solutions Co.)
-Apr’14 - Apr'17 Head of Finance (Managing Training Centers in Kuwait and Corporate Divisions in UAE)
-Preparing Financial Plans, Budgets and Forecasting along with monitoring and reporting profitability and variances.
-Discussing business challenges, assumptions and decision-making with Center Heads by providing guidance on activities, financial plans & targets, and business drivers.
-Administering Finance Department performance, setting goals and objectives, and designing framework for achieving those goals; sharing thoughts and ideas with management on how to improve efficiency of operations in order to enhance organizational growth.
-Administering the practicing of all Accounting Modules (Banks, Assets, Receivables, Inventory & Payables) and related reconciliations, besides monitoring all necessary controls required for each.
-Performing cash flow forecasting.
-Conducting internal audit on all transactions by analyzing and investigating the fulfillment & completeness of internal controls over all processes (Daily Cash Collection/Deposit, Sales Ordering, Revenue recognition, Purchasing, Petty Cash handling, Inventory Management, & Receivables Management), and taking necessary remedy actions when needed.
-Engaged in reviewing & approving payments.
-Training Accountants and ensuring to improve their performance as well as supervising their daily work transactions to enhance their performance.
-Mentoring the Credit Officer on how to manage and operate his roles efficiently, internally with the team and externally with the customers.
-Reviewing monthly payroll, and guiding HR & Accountants in the preparation and closing of payroll.
-Developing quarterly & year-end audit reports besides managing full auditing with Auditing Firms.
- Working on “Financial, Administration & Information Management System” - “FAIMS” - Oracle Data Base Application.
- Working on “Business Object” application to extract the required data and prepare the required reports.
- Handling & processing all Payables related transactions for local and foreign suppliers.
- Maintaining and monitoring sub-contractors files, jobs, invoices and payments.
- Processing & following-up Letter of Credits & Letter of Guarantee in liaison with purchasing department and treasury department.
- Processing assets expenditures, additions & monthly depreciation.
- Preparing required journal entries (L/C & L/G expenses, advertising & stationary expenses, charging cost centers with related expenses ... etc).
- Monitoring and following-up shipping guarantee request when the original bill of lading not received from the Supplier.
- Monitoring, controlling and clearing Inter-Entity accounts monthly.
- End of month closing & preparing reconciliation reports: GL VS Sub Ledger.
- Preparing receipt of goods and monitoring direct deliveries to the sites with directing site Engineers for the delivery of required documents (original invoices - original delivery notes -issue vouchers).
- Periodically count for stores in various areas.
- Handling, processing & reviewing all receivables related transactions.
- Preparing monthly ageing reports and following up on dues from customers.
- Periodically checking & updating discount policies, and fulfill required credit facility forms.
- Monitoring returned spoilt goods, with verifying and reporting the reasons (Industry Defect - Expiration…).
- Preparing required debit/credit notes and manual entries.
- Handling & controlling purchases from sister companies and clearing Inter-Entity accounts monthly.
- Controlling, reviewing & posting all stores related transactions (receipts, Transfers, Issues & Expiries).
- Monthly stock count for stores.
- Preparing vendor checks.
- Generating analysis reports for Sales, Profit & Growth, achievement compared to budget.
- Reporting monthly analysis for “no. of stores & new openings”, showing expected & actual opening dates and Locations.
- Aggregating "Performance & Results" reports of all restaurants’ chains for all of company’s brands.
- Performing daily analysis report for new restaurants showing actual daily sales compared to budget and analyzed according to no. and type of transactions (Dine In - Drive Thru - Home Delivery - Take away) that occur daily.
- Performing Quarter Reports, and bringing up the effect of the activity on financial results.
- Reviewing Balance Sheets, P&L and Fixed Assets Statements.
- Preparing salaries & payroll reports & monitoring employees’ health insurance.
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