Project Accountant - Contractor

Saudi Petroleum Services Polytechnic; Tabuk; On-site; SAR 120,000 - 180,000; Full time

Job summary

A leading company in the petroleum sector is seeking a Project Accountant to manage financial transactions related to projects. The role involves monitoring contracts, collections, vendor invoices, and payments, along with preparing various financial reports. Ideal candidates will have 5-10 years of experience in project accounting, a Bachelor's degree in Finance or Accounting, and strong knowledge of Saudi regulations.

Qualifications

• Experience of 5-10 years in project accounting or finance.
• Strong accounting skills and proficiency in ERP systems (SAP).
• Good knowledge of Saudi regulations.

Responsibilities

• Monitor all transactions related to projects and ensure compliance with contracts.
• Prepare aging reports and reconcile bank transactions.
• Ensure timely issuance of payments for vendor invoices.

Skills

Strong accounting skills

Good knowledge of Saudi regulations

Proficiency in ERP systems (SAP)

Education

Bachelor’s Degree in Finance or Accounting

Job description

Purpose:

• Monitoring all transactions related to Projects (AP, A/R, Project, GL, Inventory, Controlling, etc.)

Contracts and Sales Invoice:

• Study all client contracts and ensure sales invoices are issued based on the payment terms specified in the contract.
• Inform management of any advance sales invoices not yet issued.
• Ensure that bank guarantees are issued for all projects and match the contractual requirements.
• Verify that all sales invoices are issued based on the actual POC and shortage billing reports.

Collections:

• Ensure all collections are recorded either through the treasury or bank.
• Perform clearing of all collections with corresponding sales invoices.

Vendor Invoice:

• Follow up with Business Units to finalize all received vendor invoices related to project progress.
• Ensure finalization of vendor invoices in the system after approval from BU based on MIGO reports.
• Review vendor invoices for any comments or errors.

Payments:

• Ensure timely issuance of payments for due vendor invoices based on payment terms.
• Issue advance payments for purchase orders as per payment terms.
• Reconcile advance payments with progress vendor invoices.
• Follow up on preparing LC invoices and obtaining approval from BU and relevant authorities.

Reports:

• Prepare aging reports and discuss with BU.
• Prepare shortage billing reports based on actual POC and review with BU.
• Verify unknown deposit amounts with BU and resolve discrepancies.
• Create reports on critical issues and discuss corrective actions with BU.
• Provision for doubtful amounts and assess impact on ECL.

Banks:

• Daily review of bank statements to identify risks.
• Upload all daily bank transactions on ZFF67 for banks not linked via MT940.
• Perform daily reconciliation of bank transactions and clear matching transactions (FEBA).
• Monthly reconciliation of all bank accounts.

Treasury (CT):

• Daily reconciliation with treasury, identifying and following up on pending transactions.
• Record all CT transactions (LG charges, LC charges, finance costs, internal transfers, etc.) and verify accuracy.
• Monthly reconciliation with CT, obtaining signatures from all relevant parties.

Reporting:

• Monthly summary report of all bank accounts, including special cases and processing criteria.

Skills and Qualifications:

• Experience of 5-10 years in project accounting or finance.
• Good knowledge of Saudi regulations.
• Strong accounting skills.
• Proficiency in ERP systems (SAP).

Education and Certifications:

• Bachelor’s Degree in Finance or Accounting.