Management Accountant

7 hours ago

Muscat, Muscat, Oman Muscat Duty Free (Oman Sales & Services LLC) Full time

Our client Muscat Duty Free is looking to hire a Management Accountant with a focus on the retail side. Responsible for the Company's Accounts Receivables, Insurance Program and Cash Management processes.

Responsibilities

Accounts Receivable
  • Ensure accuracy and completeness of income recognition which include product promotions, advertising rentals, BA / Promoter salaries, incentives, reimbursable costs, promo-site rentals, in-flight listing income fees, outside sales, etc., in a timely manner.
  • Ensure invoices / debit notes, etc., are sent on a timely basis and in accordance to the requirements specified by the customers.
  • Validate all entries relating to AR prior to posting and propose any adjustments if required.
  • Follow-up with customers on all outstanding receivables and ensure that they are collected in a timely manner.
  • Send statements of account to customers on a monthly basis.
  • Check bank statements and validate bank credits to ensure that all remittances / transfers from suppliers are timely and accurately credited into the bank accounts.
  • Ensure correct application of inward remittances against invoices/debit notes raised.
  • Prepare customer reconciliations and propose adjustment entries (if required)
  • Liaise with customers on all matters relating to the debit and credit notes and ensure that information are provided to the Accounts Payable staff for timely recovery of money against the payments due to the corresponding vendor.
  • Raise Debit Notes for all goods returned to suppliers and follow up to obtain confirmation from the customers.
  • Ensure that all entries in the AR applied / matched in a timely manner.
  • Prepare customer aging report on a monthly basis and provide explanations for overdue amounts including negative balances in vendor accounts.
  • Reconcile customer balances periodically in line with the Company's policies/SOP.
  • Update of Accounts Receivables master file data (as and when required) and ensure that customer contact details are up-to-date.
  • Prepare month-end control account reconciliations (deferred a/c, BA commission payable, BA salaries payable, in-flight listing fees, other receivables, etc.).
  • Maintain a master record of all income basis (advertising rentals, BA / Promoter agreements, In-flight Duty Free rentals, etc). Ensure that the master record is updated in a timely manner whenever changes occur.
  • Review income / AR related amounts with Budget/LE comparisons and take necessary actions as appropriate to ensure budget targets are met.
  • Responsible for year-end related works such as revaluation of AR balances denominated in foreign currencies, sensitivity analysis, etc.
  • Review and track amounts paid in advance by customers.
Insurance Program
  • Responsible for maintaining adequate insurance program to protect the Company from various risks.
  • Timely renewal of insurance policies and a firm understanding of the terms and conditions associated with each insurance policy.
  • Negotiation of insurance rates to maintain within budget targets.
  • Submission and follow-up on settlement of insurance claims.
  • Timely submission of insurance endorsements including FOB declarations, cash management considering public holidays, etc.
  • Follow-up to obtain the insurance policies and the relevant invoices/DN/CNs on time and forward to MA team for accounting and AP team for payments.
  • Ensure warranties, conditions, etc., are always met and appropriate measures are in place to ensure compliance.
Cash Management
  • Plan and organize cash office operations covering all business locations (airport, crew reporting building, seaport, support office, etc.)
  • Review collection deposit documents on a daily basis, reconcile with sales records, ensure timely banking and report on exceptions.
  • Reconcile POS machines to Z readings and posted statements in Navision to ensure completeness.
  • Review and report on surplus / shortage incidents.
  • Always ensure adequate insurance cover including temporary covers to meet short term cash float increases and making sure that the cash in hand is insured.
  • Regular review of the Cash Operation procedure and make sure all systems are in place and adhered to.

Ideal Candidate Should Be

  • Bachelor's in Finance degree.
  • Possessing professional accounting qualification (ACCA, CA)
  • Having a minimum of 4-5 years' experience
  • Strong oral and written English communication skills and well versed with MS-Excel
  • Willing to work in a fast-paced work culture, flexible to meet reporting deadlines
  • Reporting to Finance manager
  • Prefer Retail finance experience
  • Understand the business is 24/7 operation
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