Faizal Ali

• Managing and guiding the Pakistan based entrepreneurs newly established organization in UAE to set up policies and procedures for accounting and book keeping of business transactions.
• Recommendation of applicable rules and procedures to comply with the accounting standards and reporting and taxation regulations in the region.
• Recommended and implemented new ERP Software TWIGS and handling the transfer of manual accounting data in to the system.
• Streamlining of day to day transactions and maintaining up to date records.
• Providing the necessary reports and analysis as per management requirement.

· Managing overall accounting functions inclusive of collections and expenditures and maintaining the monthly Income and Expenditure statement.

· Planning and co-ordination of After School Educational activities at various reputed schools under GEMS and other International group of schools in Dubai and other Emirates.

· Activities involve Artificial Intelligence, Robotics, Coding, Fine Arts, Fashion Designing, Dance Forms and various other exciting courses.

· Analysed Project-wise Payment Applications issued and regular follow up for Payment Certification on running projects from clients for issuance of Tax Invoice.

· Maintained Project-wise chart for Payment Applications issued and subsequent Certifications obtained, Advance Payment adjusted, Retention recovered and Net Receivable status from running and completed projects.

· Liaised with Bank for issuance of Advance Payment and Performance Bank Guarantees as per Subcontract Agreements and carried out the periodic amendment and validity extensions for the clients.

· Handled Inbound and Outbound Letter of Credit documentation and its timely negotiation with the bank.

· Computed Monthly Wages and Salaries and submission to Head Office for processing through WPS Bank Transfer.

· Verified and audited Supplier Payment Vouchers for processing cheques/bank transfers to Head Office as per agreed payment terms.

· Cash Flow Forecast as per Management requirements periodically.

· Monthly accruals for Leave Salary, Air Ticket and Gratuity for Staffs and Labors, Depreciation of Fixed Assets and updating the Register and Amortization of Prepayments.

· Periodic evaluation of Inventory and maintaining necessary provisions for non movable and obsolete stock.

· Analysis of monthly budgeted and actual Sales results.

· Month and Year End closing of AR, AP, Inventory and General Ledger Modules.

· Finalization of Income Statement and Balance Sheet monthly and yearly.

· Maintaining Monthly Project-wise Profitability Statement.

· Monthly VAT Return Filing to Federal Tax Authority.

· Sales invoicing and active handling of collections and posting of subsequent receipts appropriately.

· Preparation of Weekly and monthly Business Conditions Report (BCR) for Management Information.

· Processing of Intercompany and Third Party Accounts Payable including Invoice bookings and payment process through Trax/ Online Banking.

· Recording and reimbursement of Employee Travel Expense Reports with adequate check in compliance to company policies.

· Monthly Payroll processing as per WPS mechanism after ensuring passing of necessary Journal vouchers.

· Documentation and negotiation with bank for shipments under Import and Export Letter of credits and issuance of various Bank Guarantees ensuring legal compliance.

· Balance Sheet Analysis by monitoring and clearing respective accounts monthly having exposure over considerable period.

· Back Charge of proportionate Expense between Intra-divisions.

· Reconciliation of monthly Intercompany Supplier Accounts and Consignment Stock with customer.

· Finalization of Monthly Sales Report with Cost of Sales and Gross Profit Analysis.

· Preparation of Job Cost Analysis for Systems and Solution Projects.

· Monthly Bank Reconciliation for multi-currency Bank Accounts and initiated action for discrepancies.

· Recording Journal Vouchers for monthly accruals, provisions, amortization of Prepayments, Bank Charges and Cash Pool Account transactions and other adjustments.

· Supervision of Inventory Count half yearly and annually and passing of adjustments with necessary management approval.

· Verification of Fixed Assets Annually as per Company policy and for Audit compliance.

· Month and Year End Closing functions of Accounts Receivable, Payable, Inventory, Fixed Assets and General Ledger accounts of the respective Business Units in Oracle.

· Finalization of monthly Trial Balance, Profit & Loss Account, Balance Sheet and Cash Flow Statements.

· Budgeting and Forecasting and comparative Actual Analysis and various other Financial Analysis as per management requirements.

· Liaising with the Auditors for Interim and Annual Statutory Audits by providing the required reports and analysis.

· Account Opening and Adding and removing of Signatories in the Bank records.

· Performed adhoc duties as required by Management.

· Employee Expense Report verification, recording and processing of reimbursements.

· Monthly Payroll processing of Multi Business Division employees through Online Bank Transfer.

· Booking Invoices and processing of payments to Suppliers on behalf of respective Business Units as per agreed Payment Terms.

· Back Charge Invoicing of respective Business Units with supporting documents and mailing to Finance Department of their Headquarters.

· Preparation of Goods Received Notes and booking the Inter-company and Third Party Supplier Invoices for the Inbound Shipments of Leroy Somer Business Unit.

· Daily Sales Invoicing, Receipt Booking and allocation of Customer Collections and Inter-company/Third Party Supplier Payments of Leroy Somer Business Unit.

· Petty Cash Expense handling and timely replenishment at its threshold.

· Monthly Sales Report Finalization of Leroy Somer Business Unit.

· Bank Reconciliation Statements for Corporate and Leroy Somer for multi-currency Bank Accounts.

· Ticket Stock control and Sales and Refund Ticket postings.

· Invoicing the customers and circulating statements weekly and follow up for payments.

· Receipts posting and allocation against the invoices.

· Weekly & fortnightly Sales reporting to the BSP & other airlines respectively and Refund Tickets processing through BSP Link.

· Reconciliation of the Sales and BSP Reports fortnightly.

· Preparation of SSAN and its follow up with the respective Airlines and Sorting and clearing of ADM & ACM fortnightly.

· Petty Cash handling & preparation of its Statements for reimbursement to Head Office.

· Maintaining the Receipts, Payments, Journal & Bank Deposit Vouchers and its system postings and Fixed Asset Register and Spreadsheet of various Financial Statements.

· Preparation of Trial Balance, Income & Expenditure Statements & Balance Sheet and Bank Reconciliation Statements.

· Petty cash verification and vouching of expenses.

· Verification of collection and its deposits in bank and notifying unauthorized delay in deposits.

· Verification and vouching of Purchase and Sales invoices with proper supporting documents.

· Verification of Credit Notes and identifying the reasons for issuance of credit notes.

· Physical verification of stock & preparing the variance report.

· Verification of issue of products on demo and outstanding demo issues.

· Reviewing the Credit Application Forms opened for customers, verifying the credit limit & period authorized and reporting of unauthorized credit enhancement.

· Preparation of actual sales performance report of each division monthly and comparing with the budgeted sales and reporting the variance.

· Sending the Interim Debtors Confirmation Letters to the concerned customers of respective divisions from the Internal Audit Department.

· Drafting and sending letters to the Chief Accountants of respective divisions for the exceptional replies received from the customers on the confirmation letters sent from the Internal Audit Department.

· Preparation of the database for the clean, exceptional and non-replies from debtors and further amount settled as on closing day of the financial year.

· Preparation of division wise internal audit reports for the management information.

· Verification of the Opening Balance of each account in the ledger in accordance with the previous year audited Statement and Closing Balance during the current year.

· Preparation of Day Book and General Ledger both manually and computerized in Tally Accounting Software.

· Preparation of Trial Balance, Trading & Profit & Loss Account and Balance Sheet for Trading Concerns and Receipts & Payments Account, Income & Expenditure Account and Balance sheet for Non -Trading Concerns.

· Preparation of Bank Reconciliation Statements.

· Casting of Day Book and Ledger Accounts.

· Vouching of Purchase and Sales Bills and Expense Vouchers and verification of the postings in the Ledger against the Day Book entries.