General Accountant at Bar Dubai Branches, Ajman Co-op. Society and Diera Branches
Union Co-Operative Society
Total years of experience :6 years, 11 Months
Key Responsibilities
• Managed accounting of Bar Dubai Branches (Satwa, Karama, Wasl, Jumeirah & Barsha), Ajman Co-operative Society managed by Union Co-operative Society (Noaimya, Jurf & Rumailah) and Deira Branches (Ras Al Khor, Mirdif, Rashdiyah, Hamriyah & Towar).
• Involved in management of accounts, evaluation and monitoring of inventory transactions encompassing purchase order matching, devaluation and write downs.
• Managing that Accounts Receivable function that involves overseeing Trade, Trade Notes Receivable, Installment Receivable etc.
• Managing the Accounts Payable function comprising Trade, Accrued Accounts Payable, Bank Notes Payable,
• Responsible for inventory of Reserved Items, WIP, Finished Goods and handling unbilled costs and fees.
• Maintaining accuracy in month-end closing activities involving account analysis, reconciliation, accruals and journal entries, actual to forecast variance analysis including generation of various internal reports.
• Ensuring compliance to accounting policies and procedures pertaining to maintenance of financial records of business transactions including purchase records in ledgers as well as monthly financial statements.
• Liaising with team members in interpretation of financial statements of clients.
• Working on preparation and evaluation of entries related to revenue, expense, payroll, invoices and other accounting documents.
• Responsible for expense accounting that includes prepaid expenses (insurance, repairs & maintenance, rent, deposits etc) and operational expenses (advertising, auto, commission expense, gifts, maintenance etc.).
• Overseeing revenue accounting that involves sales returns and allowances, sales discounts, other income etc.
• Accounting for cost of goods sold that includes inventory adjustments, purchase returns and allowances.
• Collaborating with internal and external auditors for maintaining critical documentation related to the branch.
• Generating and updating various status reports for the senior leadership team and other stakeholders to enable critical decision making.
• Conducting audits of business transactions to ensure accuracy, transparency and compliance with statutory regulations.
Key Responsibilities
• Assisted managers in daily GL functions as well as account reconciliations (GL and bank accounts).
• Involved in processing and making bank deposits, generating and presenting weekly and monthly statements.
• Processed monthly supplier payments; scrutinized invoices and authorized release of payment.
• Managed month-end closing of retail accounting; evaluated various status reports like merchandise inventory reports, fuel inventory reports, cash over / short reports and retail analysis report.
• Identified areas for cost savings and advised the senior management on various cost saving initiatives.
Managed all payable transactions, checked and verified transaction data, ensured accounting practices were followed, updated supplier ledgers, and oversaw recompilation.
• Participated in internal and external audits and answered queries raised by auditors to their satisfaction.
• Ensured compliance to audit process for all retail sites, and maintained updated documentation based on audit requirements.
• Reviewed clearing accounts and coordinated with retail and wholesale team members for resolving old outstanding issues.
• Managed properties expenses encompassing project contracts accounts, general, operational and administrative expenses.
• Involved in selection and training of new bookkeepers.
• Planned and monitored retail inventory and verified inventory records; managed petty cash.
• Worked extensively on J.D. Edwards, Peachtree and Oracle for maintaining finance and maintained accurate finance and accounting records.
• Approved daily financial transactions and ensured compliance to company policies and procedures for all transactions.
• Prepared monthly financial statements and sales analysis.
• Undertook other programs and projects as needed, and provided support to Director of Finance in running daily operations.
Responsibilitiesu**
• Maintained updated journal entries, general and subsidiary ledgers in compliance to organizational procedures and other statutory regulations.
• Involved in recording, application of payments and processing of financial entries based on various accounting procedures and principles.
• Prepared daily vouchers, cash flow, monthly P&L and balance sheet; generated financial statements (Income Statement, Balance sheet).
• Evaluated P&L to prepare budgets and forecasts aimed at maintenance of organizational bottom lines.
• Collaborated with various support teams pertaining to resolution of accounts related issues, reconciliation of financial discrepancies.
• Monitored and recorded sales and import transactions.