Account Payable Accountant

Job Detail
Industry:
Fast Moving Consumer Goods (FMCG)
Category:
Accounts, Finance & Financial Services
Total Position:
1
Job Type:
Full Time/Permanent
Job Location:
Jeddah, Saudi Arabia
Gender:
Male
Career Level:
Experienced Professional
Education:
Bachelors
Minimum Experience:
5 Years
Work Permit:
Saudi Arabia
Apply By :
Apr 11, 2017
Posted On:
Jan 11, 2017
Job Description

Job Description


Job Summary

The Account Payable Accountant is responsible for the Payable function of the finance

and accounting department. He oversees all Payables / disbursements in accordance

with Generally Accepted Accounting Principles (GAAP) and provides approval and

checking on all financial transactions of the company.

General Duties and Responsibilities

· Ensure the implementation of the Accounts Payable objectives, plans, policies & procedures and assuring they serve as basis for all the functional operations.

· Assist the Chief Accountant in the development of the annual budget and ensure cascading it down to the functional level and that all employees are working towards achievement of the department's goals and objectives within the assigned budget.

· Monitor the operating results of the Payable function, compare them to established goals and objectives, and report results to the Chief Accountant.

· Ensure compliance of Account Payable policies and regulations in order to avoid any discrepancies or unsatisfactory results.

Operational Duties and Responsibilities

· The AP Accountant is responsible for:

· Defining Vendors in the system master database.

· Validating Vendor agreement and filling vendor Assessment Form/ Model.

· Ensuring the completeness and accuracy of all transaction processed to vendor’s accounts.

· Receiving the approved Vendor Credit Application from the Purchasing Department.

· Maintaining complete and accurate Vendor records.

· Updating the financial system with payment status and purchase information.

· The AP Accountant should identify all current due payments based on agreed payment terms and aging report, the information that should be captured by the Accounts payable function prior to performing the payment activities.

· Establish and manage relationships with domestic and international Vendors and with the banks.

· Coordinate payable activities which cover reconciliation of bank accounts for un-cleared payments, cleared payments and payment transactions within the system.

· Perform the payment function of vendor dues while following the proper policies, regulations, and approval process.

· Prepare purchases reports on a daily, weekly and monthly basis for the entire company.

· Prepare projected payment forecasts for the entire year and update on a monthly basis in coordination with other financial functions.

· The payable Aging Report should be prepared on a monthly basis by the payable assistants which the AP Accountant should review and initiate action. The Report should be used for monitoring the company’s payable and identifying all current due amounts and the related invoice(s).

· Based on the outcome of the payment activity, the AP Accountant should instruct the payable assistant to update the system with gathered information.

· The AP Accountant should ensure contacting the authorized contact person of the vendor on a proper manner.

· The AP Accountant should maintain a control log for all payment activities performed during the month including the “ONLINE” payments / fund transfer log.

· The AP Accountant should reconcile the payable amounts with received invoices in order to identify any variances; In case of any variances the AP Accountant should immediately contact the Chief Accountant in order to take the required corrective action/s.

· Enter / retrieve credit / debit note information from approved purchase order.

· Review and validate credit / debit note.

· Print credit / debit note and submit to the Chief Accountant for approval.

· Obtain Vendor signature on credit / debit note received / issued.

· File a copy from approved credit / debit note.

Supervisory

· Provide advice, guidance, direction, and authorization to functional personnel to carry out major plans and procedures, consistent with established policies.

· Communicate and discuss the function’s guidelines and procedures with the subordinates to ensure responsibilities, authorities and accountabilities are defined and understood.

· Delegate some of the responsibilities to appropriate subordinates in order to benefit from smooth running of the function’s operation.

· Provide guidance and leadership to all functional subordinates to ensure effective and efficient flow of work, and ensure all employees recognize their fundamental role in the function.

· Conduct annual performance appraisal to review employees’ work performance.

· Recommend salary adjustments, rewards and promotions based on employee performance. Carry out disciplinary meetings when needed.

· Monitor the adherence to guidelines, policies and procedures.

· Perform other duties related to the job as assigned by the Chief Accountant.

Competencies

The following competencies must be met and practiced on a continuous basis:

Behavioral

Functional

§ Accountability

§ Commitment

§ Communication

§ Flexibility

§ Initiative

§ Integrity

§ Organizing & Planning

§ Teamwork

§ Accounting

§ Cash Management

§ Account Payable Reporting

Qualifications

A minimum of:

· Microsoft Dynamics ax 2012.

· Bachelor degree in Accounting, Finance, or equivalent degree with a minimum of (5-7) years of relevant experience.

· Good knowledge of International Accounting Standards (e.g. IFRS) and SOCPA (Saudi Organization for Certified Public Accountants).

· Proficiency in both English and Arabic Language.


Required Skills

GAAP, CIA, CA, International Accounting Standards, IFRS, CPA, Financial Modeling, Analysis& Valuation, Financial Statement Analysis,