Financial Accountant

Roles and responsibilities

• Assist in preparation of accurate vessel and company budgets, forecasts and report result to internal and external stakeholders in a timely and consistent manner.
• Ensure timely closure of monthly accounts (Intercompany entries, journal entries, P&L cost analysis, balance sheet schedules, variance analysis etc.)
• Assist with the maintenance of relevant financial systems and their integrity.
• Assist with ensuring compliance to local taxes (WHT, CIT, VAT) and prepare monthly Saudi tax compliance report.
• Assist with the management of internal and external audits, audit requests, also provides necessary supporting.
• Maintain close financial controls over operational budgets and the processes by which they are drawn up
• Coordinate with central shared services in getting the required financial and procurement services on time.
• Maintain petty cash for local expenses in KSA and adherence to MOA.
• Ensure timely and accurate payments to local vendors and to arrange cash to masters, bank guarantees and bank confirmations.
• Quarterly IKTVA compliances report to be submitted to Aramco, yearly IKTVA audit and audit report to be upload.
• Should able to provide all necessary details regarding tax/VAT/WHT assessment of any previous years.
• Quarterly CIF data to be submitted to local tax authority in the required format.
• Raise timely and accurate customer invoices (all types of income including fuel, back charges and intercompany) for assigned fleet.
• Communicate with clients about billing discrepancies and questions.
• Engage management over any AR related issues.
• Initiate collections on past-due accounts through ageing analysis.
• Prepare debtors report with reasons of delay in collections.
• Prepare utilization reports as required.
• Maintain accounting ledgers.

Desired candidate profile

Financial Reporting
Preparation of Financial Statements: Prepare accurate and timely financial statements, including the balance sheet, profit and loss (P&L) statement, and cash flow statement, in compliance with generally accepted accounting principles (GAAP) or International Financial Reporting Standards (IFRS).
Monthly, Quarterly, and Annual Reports: Ensure that financial reports are produced on time and accurately reflect the company’s financial position.
Management Reporting: Provide monthly or quarterly financial summaries and reports to senior management, helping them make informed business decisions.
Compliance and Regulatory Reporting: Ensure that financial reports and statements comply with relevant tax laws, financial regulations, and industry standards.
Budgeting and Forecasting
Budget Creation: Assist in preparing the annual budget by working with different departments to gather financial data and projections.
Financial Forecasting: Regularly update forecasts based on actual performance to provide management with insights into future financial trends and business performance.
Variance Analysis: Perform variance analysis between budgeted and actual figures, explaining significant discrepancies and suggesting corrective actions.
. General Ledger Management
Journal Entries: Record financial transactions in the general ledger, ensuring accuracy and proper classification of accounts.
Account Reconciliation: Perform regular reconciliations of all general ledger accounts, identifying and resolving discrepancies between records and financial statements.
Closing Procedures: Assist in month-end and year-end closing processes, ensuring all financial transactions are recorded and accounts are balanced.