Sr. Accountant
Aman Exchange Co W.L.L
Total years of experience :13 years, 2 Months
Reviewing the Financial Statements like statement of operations, cash flow, Trial Balance
etc. for their Mathematical Accuracy
Journalizing, preparing and posting journal entries and performing accounting corrections
to ensure accurate records
Preparing financial statements on monthly as well as quarterly basis
Ensured timeliness of vendor payments by matching, batching, and coding invoices for processing.
Maintaining monthly depreciation, amortization schedules and posting.
Monitoring daily transactions for all the branches and verifying the deposits with the collection report
Investigating and resolving customer and staff transaction issues and encoding errors.
Auditing the k.net report
Performing monthly bank to book reconciliations for all accounts to ensure the accuracy of the general ledger.
Analyzing banking service fee expenses and conduct bank proximity studies in an effort
to identify opportunities for cost savings.
Prepare annual budget and quarterly forecast
Organize and update online banking information for all accounts to ensure completeness and accuracy.
Effectively communicating with the banks regarding k.net issues, and other transfer issues etc.
Dealing with dealers for purchase and sale for currencies.
Calculating and analyzing the US Dollars requirement against the total sale
Checking the availability for funds and O/D amounts for the transfer needs
Checking the requirement of promissory notes.
Transferring fund to all international banks, agents and posting the JV
Verifying Telex Transfer payments and checking the swift copy weather amount is received by the beneficiary.
Verifying product sales with reports from the product websites and finalizing for payments
Auditing day end reports and verifying the rates used to process the transacting are accurate.
Reconciliation of Local Bank and Correspondent Banks/Agents
Preparing weekly, monthly and quarter Sales and Purchase report and submitting it to theCentral Bank of Kuwait
Preparing of monthly and quarterly Income Statement, and submitting to the Central Bank of Kuwait
• Recording accounting entries and preparation of analytical accounts and follow-up on a regular basis.
• Conduct Reconciliations for Local Banks, Foreign Banks and Correspondent Agents inside and outside Kuwait on weekly and monthly basis
• Recording Journal entries and Adjustments as per requirement for Local Banks, Correspondent Banks and Agents on weekly and monthly basis.
• Calculating Depreciation, Amortization of Key Money, Provisions for staff Leave and Indemnity on quarterly basis and posting Journal entries accordingly.
• Calculating Salaries, Commissions, Bones, Prepaid expenses, Accrued expenses all the General and Administrative expenses and posting Journal Vouchers accordingly.
• Calculating the Employee Loan, Sundry Creditors, Petty Cash and Refundable deposit.
• Keeping track of physical purchase and sales of foreign currencies as per demand in market
• Carry out periodic inventory of treasury of the branches of the company.
• Preparation of monthly and quarter Sales and Purchase report and submitting it to the Central Bank of Kuwait
• Preparation of monthly and quarterly Income Statement and submitting to the Central Bank of Kuwait.
• Coordinating Chief Accountant while preparing Balance Sheet.
• Preparing all the monthly and quarterly reports required by the Central Bank of Kuwait.
• Dealing with Banks for Purchasing and Selling of Funds to all Foreign Banks and Correspondent Agents as per requirement and business strategy.
• Preparing the payment order (PO) for International Funding and transfer needs (money orders)
• Making the daily and month end Journal Vouchers.
• Knowledge of acts of bank transfers to all countries and its requirements.
• Preparation of the daily conversion rates (weighted to the U.S. dollar exchange rate and market prices).
• Full knowledge of dealing with global money transfer systems (Western Union - Xpress Money, Ez Remit, Transfast …etc).
• Dealing with branches and checking whether deposits are made on time.
• Reconciling the K.Net for all the branches and closing the k.net daily.
• Calculating inbound and outbound of Western Union and daily summery reports.
• Preparing the payment order for the settlement of Western union transaction daily.
• Auditing the cashier report.
• Verification of Suppliers invoice against contract, LPO and the service.
• Booking the cost of sales and the direct expenses in the general ledger.
• Maintain the Supplier ledger in the system and reconcile the statement of account.
• Preparing the cash outflow report for the month for payment to supplier.
• Direct coordinating with local and international suppliers with respect to the payment.
• Helping the Chief accountant during the Financial Audits.
• Maintains the Contacts of all the supply and services.
• Entering the Cash receipts in the System and updating the Customer ledger.
• Preparing the daily collection report and arrange for depositing in to bank.
• Reconciliation of Bank accounts.