Chief Accountant
Acoulite Trading LLC
Total years of experience :19 years, 6 Months
Assisting in finalization of accounts on monthly basis by preparing monthly internal Accounting Procedures - P&L, balancesheet, bank reconciliation, accruals, pre-payments, inter-company accounts etc.
Preparation of management report.
Cash flow management and reporting
Reconciling supplier payables & processing payments.
Dealing with foreign currency management.
Follow up with customers for collection.
Preparation of weekly collection Report.
Coordinate & support all relevant departments for the requirements of the project & completion of delivery.
Record all the transactions related to the company’s business
on daily basis
Liaising with operations & project manager related to orders, delivery schedule, preparation of invoices etc.
Liaising with the bank in all aspects of banking transaction especially with trade finance (bank Guarantees, Letter of credit etc.).
Preparation of monthly payroll
Updating Schedules for stock, sales Commissions, staff Gratuity, leave Ticket, leave Salary & companies Assets.
Budget forecast & variance analysis.
Manage all the banking transactions & liaise with bank manager for banking needs.
Financial audit preparation & coordinate with auditors for the audit process.
Assisting in finalization of accounts on monthly basis by preparing monthly internal Accounting Procedures - P&L, balancesheet, bank reconciliation, accruals, pre-payments, inter-company accounts etc.
Preparation of management report.
Cash flow management and reporting
Reconciling supplier payables & processing payments.
Dealing with foreign currency management.
Follow up with customers for collection.
Preparation of weekly collection Report.
Coordinate & support all relevant departments for the requirements of the project & completion of delivery.
Record all the transactions related to the company’s business
on daily basis
Liaising with operations & project manager related to orders, delivery schedule, preparation of invoices etc.
Liaising with the bank in all aspects of banking transaction especially with trade finance (bank Guarantees, Letter of credit etc.).
Preparation of monthly payroll
Updating Schedules for stock, sales Commissions, staff Gratuity, leave Ticket, leave Salary & companies Assets.
Budget forecast & variance analysis.
Manage all the banking transactions & liaise with bank manager for banking needs.
Financial audit preparation & coordinate with auditors for the audit process.
• Handle and prepare all financial transactions related to QSF including daily accounting transactions such as JV, PV, RV.
• Handle and prepare all banking transactions, reports, bank letters etc.
• Prepare/Follow up all payroll issues with HQ in Beirut.
• Reconcile accounts on monthly basis with banks, suppliers, freelancers, credit card accounts.
• Follow up with suppliers on payments due and with sponsors on collections due, ensuring having a proper legal invoice and receipt addressed to khayal production /QSF Project.
• Make sure to have aligned with the budget and pre approvals are secured from Qatar Foundation before any payment is done.
• Handle all petty cash payments; coordinate with HQ for refills and reports.
• Handle proper filing for all contracts, invoices, transfers, receipts, journal vouchers, payment vouchers, receipt vouchers etc
• Coordinate with QF on reporting processes and auditing.
Establish and implement financial procedures in line with organizational requirements
Recording and reconciliation of project recoveries and income recognition.
Timely and accurate recording of all financial transactions in line with organizational requirements and deadlines.
Establish and prepare accurate and timely information for budget monitoring and progress reporting.
Provide financial management advice on revisions of budgets, preparing periodical forecasts.
Monitoring of the petty cash and bank balances to ensure sufficient funds are always available depending on the needs.
Management and reconciliation of the bank and cash accounts, preparation of the weekly cash counts and monthly financial records including cashbooks.
Disbursement of cash advances and reconciliation to ensure recovery.
Control of salary payments to staff, monitoring medical expenses, subsistence allowances, mobile phone usage, etc.
Filing of regular financial reports.
Recruit and manage Finance/Administration staff in line with good organizational practice.
Establish and implement administration and logistics procedures in line with organizational requirement.
Contributes to team effort by accomplishing related results as needed.
Inventory management
Responsible for expenditure, billing and financial related activities in the project
Monitor and update project's cost expenditure controller and follow up cost estimating
Monitor performance and address contracts claims and variation
Ensure that all finances are properly administered and monitored including credit control. Manage day to day financial control of services within agreed budget
The Company is one of the largest independent furniture manufacturer in Europe & considered to be the leaders of fit out works in the middle east.
Key Responsibilities:
• Spearheading development/ implementation of financial policies, systems, procedures and guidelines to ensure smooth cash flow, streamlining budgets, establishing stringent procurement and expense guidelines.
• Supervising all activities of financial accounts department, managing large complex accounts and responsible for funds management of the Group including efficient utilization of funds.
• Developing monthly cash flow forecast reports as well as monthly, quarterly and annual MIS reports for the senior management, ensuring accuracy of the financial information.
• Managing working capital requirements and providing internal distribution of financial information in order to appraise operating results in terms of profitability and performance against budget.
• Supervising implementation of computerized system for accounts. Handling compilation of financial planning/forecasting reports and budget/planning report.
• Creating, reviewing and amending internal controls, policies, procedures to adhere to established standards.
Implementing controls in order to safeguard company assets.
• Preparing and submitting department wise detailed financial statements, budgetary control, variance analysis and annual business plans/budgets reports.
• Reviewing and monitoring audit and income-tax reports, assuring acquiescence with local tax laws and regulations and preparing supporting documents for refund of taxes.
• Supervising preparation of monthly payroll of employees including contract labor as well as approving advances to contractors.
• Keeping a track of debtor’s and monitoring purchases execution and expenses in order to ensure that budgets are maintained.
Key Responsibilities:
• Performed general accounting functions including posting, examining and analyzing journal and ledger entries, bank statements to ensure financial accuracy and compliance with established accounting standards & procedures.
• Assisted in preparation of monthly management report, trial balance, debtors/inventory aging analysis, accompanying schedules, worksheets and narratives, bank reconciliation statement and provided follow-up and documentation for significant variances.
• Reviewed monthly payroll accounts before management approval in compliance with UAE labour law. Assessed statements of earnings for employees, indicating gross and net salaries, deductions such as taxes, insurance and pension plans.
• Approved purchase orders after careful verification of competitive quotes, terms and conditions, stock position, stock movement etc; ensured payments to supplier on due dates.
• Completed export and import formalities including L/C transactions and preparation of costing sheets and price fixing as per the margin percentage.
• Facilitated warehouse/logistical operations by periodical verification of inventory, labour charges and ensured proper maintenance of warehouse records.
• Monitored accounts receivables, recommended credit limit for new customers, reviewed debt collection and periodically confirmed balances to customers.
• Prepared debtors report for accounts outstanding over credit limits and taking appropriate action of doubtful debts/bounced cheques.
• Resolved accounting discrepancies. Recommended, developed and maintained an array of finance, accounting & data processing activities for the company.
• Devised the annual budgets and forecasts and conducted financial reporting. Prepared year-end schedules for audit and assisted in execution of financial audits.
Key Responsibilities:
• Handled complete accounting activity cycle beginning with posting journal entries, opening and closing of accounts, maintaining general ledgers, reconciling accounts, preparation of trial balance of books along with various accounting reports, financial statements and annual reports.
• Prepared monthly, quarterly and annual reports, presented tailored financial business planning and budgeting reports in order to facilitate decision-making for the Senior Manager.
• Conducted reconciliation of bank statement and site/branch transactions and followed-up with the client once the bills are submitted by the Engineering Department.
• Performed statutory accounting functions in entirety, prepared/submitted financial statements/income statements to the higher authorities.
• Supervised all financial activities inclusive of preparing quotations, invoicing; payroll, handling outstanding payments to ensure transactions are efficient/ effective, accounting is accurate and complete.
• Ascertained proper cash management, reconciled all bank accounts, maintained fixed asset schedules to ensure smooth functioning of accounting activities.
• Kept complete, accurate, and systematic set of records for all financial transactions personnel accounts pertained to social security and health insurance.