Chief Accountant

Financial Accounting

Financial accounting involves:

General:

• Preparation of Critical ledger journal entries (Stock reconciliation, Bad debts provision, Inventory Provision, payroll, accrual, Depreciation....etc) and to be approved by CFO.
• Reviewing and approving non-critical general ledger journal entries before entering to the ERP system.
• Calculation of the monthly payroll received from HR manager and to be approved by CFO.
• Reviewing company staff expenses.
• Assisting in preparation of statutory financial statements and annual audit.
• Obtaining and announcing the quarterly foreign currency exchange rates.
• Follow up all custody and its position with both General Accountant & Spare Parts Accountant on a daily basis.
• Reviewing monthly VAT tax return prepared by General Accountant, then to be submitted to Audit office for a double check before submission to Tax Authority.
• Assisting in preparation of monthly management report.
• Any Other ad-hoc requested by the CFO and management.

Account Receivable:

• Follow up Account Receivable balance and collections with sales team.
• Follow up all company agents and distributors in terms of their balances and collection.
• Follow up with customer services in terms of spare parts sales to customers and cash collection.
• Reviewing and signing all sales invoices before delivering to the customer.
• Cancellation of voided invoices.
•

Accounts Payable:

• Follow up Account Payable balance and payment to outside vendors.
• Reviewing the pro-forma invoice in terms of prices, payment terms, and payment time.
• Participating in providing hard currency through banks and prepare bank transfer order to be transferred to vendor account.
• Supervising the process of submitting and stamping the importing documents from the bank and delivering them to the clearance company to start importing process.

Treasury:

• Reviewing the “Daily Bank Book” and the “Daily Cash Movement”.
• Matching and reviewing the daily bank slips of deposited cheques at bank to the lists prepared by General Accountant and to the “Daily Bank Book”.
• Matching and reviewing the daily bank slips of deposited cash at bank to the lists prepared and to the “Daily Cash Movement”.
• Preparing monthly Cash and Bank reconciliation to be reported to CFO.
• Preparing weekly and monthly Cash Flow Forecast to be reported to the CFO.

Costing & Inventory:

• Preparation of quarterly reconciliation with warehouse Accountant to check any discrepancies.
• Preparation of costing sheets after matching suppliers invoice with purchase order and receiving reports and the other supporting documents.
• Follow up with Inventory Accountant for all process related to spare parts sales and balance.
• Participating in arranging and following up annual physical stock count at the end of every year.

Closing process

Closing process involves:

• Gathering and preparing the required financial data for closing process.
• Preparation of closing entries.
• Reviewing all data and make all necessary reconciliations before posting from GL to TB on the ERP System.

Periodically Reports

Periodically Reports involves:

• Monthly Trial Balance.
• Monthly AR balance Report.
• Monthly Cash Flow Forecast Report.
• Monthly Fixed Assets Report.
• Quarterly Financial Statements Reports.

(All of the above reports must be presented to CFO within 10 days from month closing)