Operations Senior Accountant
United Arab Shipping Company
Total years of experience :16 years, 1 Months
• Invoice partners (Cosco/CMA/HSD/PIL/YML/HPL) for various Joint ventures pertaining to slots on our vessels according to Vessel Sharing Agreement (VSA) and agreed monthly fixtures.
• Assist in the preparation of the System cost Budget and MMR (monthly management report for 44 services).
• Prepare the Suez reports.
• Monitor the swaps (more than 20swap) between partners and UASC and ensure that all slot differences are invoiced or compensated.
• Provide support to the Financial Analyst on commercial and accounting matters as required.
• Timely invoicing of slot invoices, reefers and over usage.
• Follow up of payments from partners and reconciliation of statement of accounts.
• Timely submission of quarterly/year end accruals of all concerned services and cost items.
• Dealing with Ship Managers, Trust team, Cluster accounts, Cluster Operations, TMU’s, scheduling team, Alliance and Capacity Management to clear the billing disputes.
• Taking decisions in routine invoicing matters, regarding any offsets or special agreements, waivers etc. with high level supervision /guidance.
• Dealing with Internal Auditors & Finance Dept. for Quarterly closing and assisting for preparing financial report.
• Handling receivable & payable reconciliation for off-set with vessel partners. Dealing with the all major partners to approve invoices and release the payments.
• Preparation of aging summary report for Manager to highlight and visit the customer to settle the accounts.
• Primary responsibility is to prepare financial statements and supporting schedules according to monthly close schedule.
• Compile and analyze financial information to prepare entries to accounts, such as general ledger accounts, and document business transactions.
• Preparing and Maintaining Chart of Accounts as per IFRS.
• Monitor and analyze monthly operating results against budget. Compare project expected cash flow and budget with actual data
• Prepare and review budget, revenue, expense, payroll entries, invoices, and other accounting documents.
• Handling company Accounts Payable & reconciliation and have good contacts in UAE market.
• Handling receivable and reconciliation. Dealing with the major clients to approve invoices and release the payments.
• Updating and negotiating for the LC & LG facilities in Bank. Arranging finance from banks to cover the jobs and operations and reconciling the bank monthly.
• Checking the jobs profitability with proper invoicing and calculation of Work In progress and proper recognition of project revenue.
• Preparing Job cost and allocating monthly salary & accommodation cost among all the projects.
• Interact & work with auditors (KPMG, E&Y, and PWC) in completing yearly audits.
• Preparation of statutory annual reports.
• Compilation of budgets, cash-flow forecast and financial management reports on monthly basis.
• Maintaining contact with bankers, investment managers, and auditors.
• Proposing and discussing changes and improvements to the company’s current accounting setup.
• Assisting project Dept in many projects concerning term of payment, pricing, overhead calculation, guarantees and bank requirements.
• Assist Purchase Dep. to facilitate the purchasing process and involve many times with the negotiations with Suppliers in order to meet material requirements.
• Monitoring Fixed Asset growth and pass recommendations concern the size of yearly investment
• Providing monthly summary for the financial situation and financial ratios. *monitoring COGS and Admin. Exp. * discuss quarterly cash flows.
• Minimize cost of Inventory and control the volume size of purchasing. And increase inventory turnover.
• Prepare Projects Cash flow
• Conduct Separate Feasibility Study for investment and fixed Assets including the way of recognizing of fixed assets, over head calculation and implement correction measures to fairly recognize income and outcome throughout the year
• To make sure company invoices are created and updated correctly.
• Controlling outgoing from store and checking inventory.
• To maintain & control fixed assets of the company and make sure the movements are recorded.
• Make sure all the payable invoices are recorded and closed monthly.
• Maintained petty cash disbursement and handling urgent cash purchases.
• Assisting Finance Manager for yearly Auditing.