Finance Executive Job at Al-Futtaim Dubai

Location: Dubai, AE
Company: Al Futtaim Private Company LLC
Job Requisition ID: 153160

Established in the 1930s as a trading business, Al-Futtaim Group today is one of the most diversified and progressive, privately held regional businesses headquartered in Dubai, United Arab Emirates. Structured into five operating divisions; automotive, financial services, real estate, retail and healthcare; employing more than 35,000 employees across more than 20 countries in the Middle East, Asia and Africa, Al-Futtaim Group partners with over 200 of the world’s most admired and innovative brands. Al-Futtaim Group’s entrepreneurship and relentless customer focus enables the organization to continue to grow and expand; responding to the changing needs of our customers within the societies in which we operate.

By upholding our values of respect, excellence, collaboration and integrity; Al-Futtaim Group continues to enrich the lives and aspirations of our customers each and every day

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Overview of the role
The Accounts Executive is responsible for working closely with the accounting team, Stores, SSF and tax department to provide support in managing business requirement on daily basis relating to smooth running of the business

Ensure that all business information and accounting figures are constantly monitored & accurately maintained so as to reflect a true and fair view of the company in the Business Financial & Performance Reports

What you will do
Balance Sheet Substantiation
Constantly monitor and maintain the books of accounts (G/L, sub ledger) accurately to reflect true and fair view of the company in the performance reports
G/L schedules – scrutinize and prepare G/L schedules for review by line manager

MIS and Reporting
Monitor variances versus budgets and provide detailed MIS reports to other departments
Ensure compliance with group accounting and financial policy
BPC submissions-Check Income Statement & Balance Sheet reports are reflected correctly in BPC as per SAP. Reclassification of Related party entries, ICM auto accruals, trading partner correction entries. Buyer & Seller templates.

Month end Sales & Collection Entries Booking
Coordinating with Cash office team on daily basis with regards to Open Cash collection summary statements for Stores, Central Unit & Restaurants
Support Cash office team in resolving system issues, in coordination with IKEA IT Team
Monitoring Cash Collection Reconciliation Reports on regular basis for Stores, Central Unit & Restaurants
Month End-Reconciling the Collection Summary in Navision, check accuracy and posting the entries to SAP Financials
Posting other month end provision entries in SAP

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Online sales
Daily reconciliation of E-Com Debtors, Receipts, E-Com Sales, Deferred Sales, Tax & Deferred Tax accounts
E-Com Master Card clearing account-to import online payment entries in Navision & reconcile the receipts

Cash on Delivery
Daily reconciliation of COD Debtors, Sales, Tax, Deferred sales & Tax
Follow up and reconcile Cash collection from Service providers-To receive daily cash collection report and reconcile with the sales & delivery data.
Import payment entries in Navision, reconcile & settle the cash receipts
Coordinating with the Third-party service providers on variance & resolving the issues in coordination with IKEA Call Center Team & Central Unit Team
Coordinating with IKEA IT Team on system issues and resolving it
Forwarding the pending COD order listing to Central Unit team & following up on clearing the same

Daily reconciliation of Safex Debtors & Receipts
Reconcile & clear open line items

E-Com Oman
Daily reconcilations of Oman Debtors, Receipts, Sales & Tax
Managing UAE & Oman Sales & Receipts
Coordinating with Central Unit on the daily deliveries reports and following up on the pending transactions
Coordinating with the Third-party service provider on the Customs clearance documentation requirements for accounting purpose
Posting accounting entries between UAE & Oman books
Oman Master Card clearing account-to import online payment entries in Navision & reconcile the receipts

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VAT Documentation & Reconciliation
Maintain accurate VAT documentation
Reconciliation of VAT entries between Navision & SAP
Ensuring accurate VAT filing done on monthly basis

Purchase Booking
Foreign & Local Vendors Purchase booking in SAP
Purchase entries to be checked in Navision & booked in SAP
Coordinating with Store In store Logistics Team on clarifying variance, if any

Prepare analysis on inventory and ageing and monitor stock provisioning
Track GL accounts for provisions for merchandise clearing and monitor add on load factor rates used
Monthly booking of inventory related entries between Navision & SAP
Maintaining of Inventory movement records and documentation pertaining to each Inventory related GL in Navision
Coordinating with Store In Store Logistics Team for any variance between the Stores & IFB

Accounts Payable
Coordinate, review and ensure with Shared Service AP team, Vendor related control GL accounts are reconciled and necessary action taken on a continuous basis.

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Internal Controls and Policies
Ensure compliance with group accounting and financial policy
Work with store teams to handle VAT related compliance all the time in store

Required skills to be successful
Working knowledge of excel and MS office packages,
Knowledge of accounting software package preferably ERP such as SAP & Navision
Knowledge of Tax filling is an advantage.

What equips you for the role
Minimum 3-5 years of experience working as Accounts Executives
Experience of Tax accounting is an advantage.
Commercial Acumen
Strong stakeholder & communication management skills
Data Driven & Strong Analytics

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About Al-Futtaim Retail
Al-Futtaim Retail has established itself as one of the leaders in Retail across the Middle East, Africa & Asia over the past 30 years. We have developed partnerships with some of the biggest and most respected Brands in the world including IKEA, ACE and Toys R Us in the Middle East and the Inditex Group of Brands (Zara, Mango, Bershka and P&B) across Asia. We are also one of the largest Global partners of Marks and Spencer’s in both regions with over 75 stores offering both fashion & food options.

Most recently we have been responsible for bringing brands to the Middle East for the first time with the exciting launches of Watsons and B&Q and we aim to continue to be agile and adaptive to our markets with new launches and further development. For this to be possible we aim to recruit the best talent from all backgrounds who will continue to challenge and develop our diverse workforce which includes over 100 nationalities across 12 countries. Join us today and make a difference…

Work Level
Experienced, Manager / Executive
Employment Type
Full Time

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