About the job
Job Summary:
The Accounting Specialist plays a crucial role in enhancing financial accounting operations. This includes maintaining the general ledger, preparing financial reports, ensuring compliance, conducting reconciliations, and performing cost analysis. Additionally, the role encompasses managing accounts payable and receivable, monitoring cash flow, ensuring tax compliance, and providing audit support, all while upholding stringent internal controls to guarantee accuracy and timeliness in financial transactions.
Key Responsibilities:
1. Budgeting & Financial Planning
- Develop and prepare annual budgets, quarterly management accounts, and ad-hoc reports, ensuring alignment with the company’s financial goals.
- Create financial performance reports at the Business Unit level, identifying cost and revenue trends, and recommending areas for corrective action.
- Generate projected financial statements based on approved budgets to forecast future financial performance.
2. Financial Accounting & Bookkeeping
- Maintain and update Wa’ed’s general ledger, ensuring all financial transactions are accurately recorded in compliance with internal procedures and international accounting standards.
- Conduct monthly account reconciliations, analyze account movements, resolve outstanding items, and ensure accurate ledger balances.
- Review general ledger allocations, address inquiries from internal departments, and prepare journal vouchers for necessary adjustments.
- Monitor general ledger accounts, ensuring that all debits and credits are balanced according to accounting standards.
- Oversee fixed asset management, including classification, depreciation schedules, and compliance with relevant accounting policies.
3. Accounts Payable
- Process and verify invoices, disbursements, advance payments, and other payments, ensuring compliance with contractual terms and processing deadlines.
4. Accounts Receivable & Collections
- Prepare and monitor aging reports to ensure timely collection of outstanding receivables.
- Communicate collection updates to the operations team, assisting in the follow-up and resolution of overdue accounts.
5. Banking & Cash Management
- Monitor daily cash positions and bank balances, ensuring sufficient liquidity to meet financial obligations.
- Prepare cash call requests for funding needs.
- Work with banks to obtain statements and resolve discrepancies.
- Prepare bank reconciliations to ensure alignment between financial records and banking transactions.
