ACCOUNTANT
DIAMOND LEASE - CAR RENTAL
مجموع سنوات الخبرة :13 years, 0 أشهر
✓ Sent updated SOA, Invoices, and Supporting Documents to Aggregator (Online Car Rental Platform) weekly. ✓ Prepared, processed, and allocated Credit Notes and Debit Notes with supporting documents. ✓ Followed-up on Rental and Non-Rental Invoices for timely payment. ✓ Maintained, monitored, and updated Forced Collection List and Outstandings. ✓ Escalated Overdue Force Collection Cases to Supervisor for Legal case filing, providing necessary documentation to the Legal Department. ✓ Followed-up for payment and allocated the receipts to correct Agreements and Invoices (Monthly AED 2.5 Million+). ✓ Conducted weekly reconciliation for wrong invoices and requested Credit Notes from concerned teams. ✓ Checked and resolved issues related to Wrong Non-Rental Charges to customers. ✓ Provided monthly outstanding updates of Legal Cases. ✓ Submited weekly outstanding reports to Finance Manager with updates on Rental and Non-Rental accounts. ✓ Submited monthly Revenue Report to VAT Manager. ✓ Maintained master data of Excess Receipts, Early of Hire Credit Notes, etc., for VAT Reporting. ✓ Followed up with Aggregators to transfer Security Deposits of Forced Collection and Defaulting Customers. ✓ Wrote of Non-Recoverable Outstanding Monthly after Security Deposit Setlement from Aggregator. ✓ Provided estimated Bad Debt figures for Bad Provision Monthly. ✓ Implemented a process for Monthly Setlement of Security Deposits of Unpaid Agreements from customers.
In this dynamic role, I spearheaded comprehensive accounts receivable functions, optimizing financial processes for Diamond Lease, a prominent car rental company. My achievements and responsibilities included:
Strategic Communication and Documentation:
Streamlined communication by sending weekly updates of Statements of Accounts (SOA), Invoices, and Supporting Documents to our Aggregator, a crucial step in maintaining transparent financial interactions.
Efficient Credit and Debit Note Management:
Successfully prepared, processed, and meticulously allocated Credit and Debit Notes, ensuring accuracy and compliance with supporting documents.
Timely Invoice Follow-ups:
Diligently followed up on Rental and Non-Rental Invoices, contributing to the timely receipt of payments and maintaining positive cash flow.
Forced Collection Management:
Established and maintained the Forced Collection List, diligently monitoring and updating it. Escalated overdue Force Collection Cases to the supervisor for legal case filing, providing necessary documentation for the Legal Department.
Receipt Allocation and Reconciliation:
Managed the complex task of allocating receipts to the correct Agreements and Invoices, handling a monthly sum exceeding AED 2.5 Million+. Conducted weekly reconciliation for incorrect invoices and requested Credit Notes as necessary.
Proactive Issue Resolution:
Demonstrated problem-solving skills by checking and resolving issues related to incorrect Non-Rental Charges for customers, ensuring accurate and fair financial transactions.
Legal Case Documentation and Updates:
Played a pivotal role in legal matters by providing monthly outstanding updates of Legal Cases and escalating critical issues to the Finance Manager.
VAT Reporting and Compliance:
Maintained master data related to VAT reporting, including Excess Receipts and Early Off Hire Credit Notes. Submitted the monthly Revenue Report to the VAT Manager, ensuring compliance with regulations.
Security Deposit Management:
Actively followed up with Aggregators for the transfer of Security Deposits for Forced Collection and Defaulting Customers. Implemented a monthly process for the settlement of Security Deposits for Unpaid Agreements from customers.
Financial Optimization and Bad Debt Provisioning:
Contributed to financial optimization by writing off Non-Recoverable Outstanding amounts monthly after Security Deposit Settlement from the Aggregator. Provided estimated Bad Debt figures for monthly Bad Provision.
These achievements collectively led to the enhancement of financial processes at Diamond Lease, including a streamlined communication system, improved invoice management, efficient forced collection procedures, and optimized VAT reporting. The successful implementation of these strategies resulted in improved cash flow and financial stability, contributing significantly to the companys success.
Job Overview:
Managed end-to-end accounts receivables functions within a dynamic environment at Clean & Hygiene Centre, a leading entity in Dubais hygiene solutions sector.
Key Responsibilities:
Credit Application Processing:
Processed credit applications from new customers, ensuring thorough verification before creating customer accounts.
Collection Management:
Implemented proactive collection strategies through telephone and email follow-ups, ensuring timely receivables.
Statement of Accounts Management:
Regularly sent updated statements of accounts to customers, maintaining transparency and communication.
Payment Facilitation:
Provided necessary supporting documents to facilitate payment releases from customers, ensuring compliance and accuracy.
Reconciliation and Allocation:
Accurately entered and allocated receipts (cash, cheques, transfers) in the accounting software based on bank deposit slips.
Bank and Inter-Company Reconciliation:
Conducted monthly reconciliation of four bank accounts, ensuring financial accuracy.
Managed monthly inter-company reconciliation, aligning branch expenses and VAT data, ensuring quarterly VAT payments.
Outstanding Reports and Escalation:
Prepared weekly and monthly outstanding reports, escalating unresolved issues to the Senior Manager.
Insurance and Permit Negotiations:
Successfully negotiated and managed renewals of various insurances (Fleet Insurance, Medical Insurance, Property All Risks Insurance) and permits, achieving reduced premiums and ensuring timely renewals.
Credit Meetings and Conflict Resolution:
Conducted monthly credit meetings with sales team members, resolving issues related to overdue pending receivables.
Petty Cash Management and Supplier Payments:
Effectively managed petty cash, ensuring accuracy and compliance.
Processed purchase invoices and facilitated payments through transfers after thorough verification.
Logistics and Coordination:
Arranged shipments, including documents for the export and import of goods to branches as needed.
Achievements and Process Improvements:
Reduced the overall debtor turnover period from 160 days to an efficient 90 days.
Implemented robust procedures for tracking cash orders until payment receipt.
Successfully collected outstanding receivables spanning from 2015 to 2018, achieving an impressive up to 98% recovery.
Negotiated a 25% reduction in property all-risk insurance premiums during renewals, demonstrating adept negotiation skills and cost-effectiveness.
✓ Processed Credit Applications from New Customers after Verification and Created customer Accounts. ✓ Followed up with customers through telephone and email to ensure timely collections. ✓ Sent updated Statement of Accounts to customers monthly. ✓ Provided required supporting documents to facilitate payment releases from customers. ✓ Investigated delayed payments and resolved issues by coordinating with customers. ✓ Accurately entered and allocated Receipts (Cash, Cheques, and Transfers) in the Accounting Software based on Bank Deposit Slips. ✓ Conducted monthly reconciliation of Bank Accounts (4 Banks). ✓ Conducted monthly inter-company reconciliation with branch expenses and VAT data, including Reverse Charges, and ensured quarterly payment of VAT. ✓ Prepared weekly and monthly outstanding reports, escalating unresolved issues to Senior Manager. ✓ Successfully negotiated and managed renewals of Insurances and Permits (Fleet Insurance, Medical Insurance, Property All Risks Insurance) in a timely manner, achieving reduced premiums. ✓ Conducted monthly credit meetings with sales team members and resolved issues related to overdue pending receivables. ✓ Managed Pety Cash. ✓ Processed Purchase Invoices and facilitated payments through transfers after verification of SOA, Invoices and Delivery Notes. ✓ Coordinated with insurance providers for member additions and deletions of Employee Medical Insurance as needed. ✓ Arranged shipments including documents for export and import of goods to branches as needed. ✓ Coordinated with Banks for Leter of Credit and Short-term Loans release as per requirements. ✓ Processed payments of Suppliers on a priority basis.
ACHIEVEMENTS AND PROCESS IMPROVEMENTS IMPLEMENTED
✓ Reduced overall debtor turnover period from 160 days to 90 days. ✓ Implemented procedures to track cash orders until payment receipt. ✓ Successfully collected outstanding receivables of 2015 to 2018 period, achieving up to 98% recovery. ✓ Reduced property all-risk insurance premium by 25% during renewals by negotiating for best rates.
To issue purchase orders locally and internationally and followup on them until delivery, Prepare documents for Releasing container from port, Prepare Export and Import Documentation.Make payment schedules and Executing it on time according to contract.
MBA in Finance and Marketing
لقد تم حذف الرابط بسبب انتهاكه لسياسة الموقع. يرجى التواصل مع قسم الدعم لمزيد من المعلومات.