Finance & Accounting Controller at Emarat Misr Petroleum Products
Emarat Misr, Multinational Oil & Gas Co.
مجموع سنوات الخبرة :20 years, 5 أشهر
Finance & Planning Role:
- Running business unit analysis and financial analysis for service stations & Oil Lubricants products distribution to reflect actual figures & using them for the improvement of the company marketing strategy and its sales image and services.
- Preparing the monthly (BLPA) business line profitability analysis.
- Credit portfolio control, Active and perfect Relations with Local & International Banks.
- Preparing the monthly company’s Profit Picture and retail analysis repots.
- Preparing the feasibility study for company’s new stations and commercial projects.
- Participating and giving guidance to the budget annual Plan of Action and program planning processes, and coordinating the Pricing Committee meetings.
- Coordinating the Business Plan build up process. Worked with in house’s departments to assess and monitor Plan & Budget data.
- Conduct analyses and reporting for corporate functions including, monthly financial analysis, reforecasting, variance analysis, trend analysis, and graphical summaries of business unit financial performance using Microsoft Power BI.
- Coordinating the development of 5 years’ business plans.
-Reviewing operations and recommending new productivity and cost saving initiatives.
Accounting & Tax Role:
- Follow up all General Ledger, Payable, Receivables, Assets & Taxes transactions via ERP Solutions (Microsoft Dynamics 365 Business Central).
- Monitor the white products "Gasoline" withdrawals & payments for EGPC
(Egyptian public petroleum corporation) for our service fuel stations.
- Monitor Aviation transactions either domestic or international flights and Jet A1 withdrawals, procurement and payments for EGPC and other petroleum companies.
- Monitor Marine transactions and Bunker fuel withdrawals and payments for EGPC.
- Monitor contractors, subcontractors and material supplier transactions for monthly billings and tracking actual costs relative to bids as the project develops for construction of our new Stations.
- Monitor the L/G and L/Cs for the imported additives for our unique industrial oil to Packed and Bulk lubes.
- Sharing in preparation of the Financial Statements (Balance Sheet, Income statement, Statement of Owners Equity, Statement of Cash Flow) at closing times.
- Prepare the form 19, 21 and 22 for each at EGPC and Ministry Of Supply and Trade.
- Follow up the Insurance for our property, plant and equipment.
- Auditing the Treasury and Banks Accounts and Review bank Reconciliations at the end of each month and cash flow forecasting.
- Preparing the monthly financial Closing and reports for our oil lubricants.
- Ensuring accuracy of accounts and their full reconciliation into the general ledger.
- Generating the general ledger reports at closing time.
- Allocating expenses between the various cost centers for profitability analysis.
- Monitor the forms for the tax withholding and collection under the tax account and submitting them on the electronic system.
- Monitor the VAT returns and submitting them on the electronic system.
- Monitor data, analyzes and documents related to tax examination operations for all types of taxes.
- Monitor the electronic billing system in terms of application and support.
- Follow up and dealing with all A/R transactions on the BUSINESS Solutions Oracle Financials (JD EDWARDS).
- Follow up the Credit Notes of Returns for the sold invoices.
-Follow up and review the deduction's advices received from Customers that relate to their contracts such as "Trade Loader, Volume Rebates, Gondolas Fees, Light Boxes, Listing Fees and Shelf Rent Fees) and make Credit notes and Debit notes to Reconcile that.
- Follow up The legal file for the whole customers in coordination with admin. dep.
- Prepare the AGING Reports according to Credit Limits and Credit Periods for each customer two times a month.
-Evaluate customers into Good and solvent, Low risk, Medium risk and High risk customers, consequently we set credit limit and aging number of days.
- Review of accounts receivable lists and evaluate Bad Debts risk.
- Prepare the Aging Balance Confirmation for whole customers (Institution Dep., Key account Dep., Whole Sales Dep. and Distributors) on monthly basis with the original copy received by the accounts dep.of each company not later than the 15th of the following month.
-Determine the net sales and collection for each customer and department then make The Ratios and Charts Reports, in addition to the aging number of days by sector (Actual vs. Target) Reports and present proposals in the periodic Credit Committee Meetings.
-I'm working in assisting the sales and collection managers in analysis of their operation performance.
- Prepare the relating Receivable Reports to my senior managers.
- Bookkeeping (American Journal, Ledger accounts) and posting these accounts to The Trial Balance. Sharing in preparation of the final accounts of the company (Balance Sheet, Income statement, Statement of Owners Equity, Statement of Cash Flow).Keeping the vendors' accounts, account payables&accrual accounts & working to pay these credit accounts in specific schedules. All of these accounts by books besides the ERP Solutions Oracle Financials (AL MOTAKAMEL)(OFS-SOFT).
- Prepare payables reports, review outstanding payables, prioritize payments and ensure all necessary codlings, checking and authorizations are carried out.
-Reconcile supplier accounts of Satellites (Nile Sat, Arab Sat, Eutel Sat, IHA) and ensure the accuracy of Service Performance.
-Follow up other creditor and accruals accounts in accounting system.
- Sharing in preparation of the accounting CHART of the oracle financial ERP.
-Verification between Sub-Balances with Main Trial Balance and find out the discrepancies between them.
- Auditing the Banks Accounts and make bank Reconciliation at the end of each month across several banks.
- Payroll and Cash Flow Management. Analysis administrative and general expenses.
- Monitor and review the cost accounts of our clients, temporary down payment and petty cash. Prepare the "41" FORM for Withholding tax quarterly.
- Interact with internal and external auditors in completing audits.
- Preparing the monthly financial reports to my financial manager.
- Keeping the accounts receivable and making clients invoices and send them through
UPS such as (French TV- F2-F24, Lebanon TV - LBC, USA TV- CNN, IRAQ TV).
-Sharing the preparation and establishment of the ( Beeaty TV) in Media City.
- Supervision the major operation for Aljazeera TV JSC and MEN at Arab League and Presidency Palace for important events.
- Bookkeeping (American Journal, Ledger accounts) and posting these accounts to the Trial Balance. Keeping the vendors' accounts and account payables.
- Making daily accounting activities and entries by the ERP Solution Oracle Financials (ALMOTAMMEM) (OFS-SOFT).
-Prepares asset, liability, and capital account entries by compiling and analyzing account information.
-Documents financial transactions by entering account information.
-Reconciles financial discrepancies by collecting and analyzing account information.
-Secures financial information by completing data base backups.
-Prepares payments by verifying documentation, and requesting disbursements.
•Accounting All Modules •Management •Economics •Statistics •Marketing •Human Resources •Finance All Modules •Operations Management •Performance Management System •Strategic Reward System •Research
I have studied four years at Faculty of Commerce,Ain Shams University Accounting Section.