Project Accountant - Contractor

Arab National Bank; Tabuk; On-site; SAR 120,000 - 180,000; Full time

Job summary

A leading company in Saudi Arabia seeks an experienced Project Accountant in Tabuk. This role involves monitoring project transactions, ensuring accurate billing and collections, and conducting bank reconciliations. Ideal candidates will have a Bachelor's in Finance or Accounting and strong project accounting skills with 5-10 years of experience.

Qualifications

• 5-10 years of experience in project accounting.
• Good knowledge of Saudi regulations.
• Strong accounting skills, especially with ERP systems such as SAP.

Responsibilities

• Monitoring all transactions related to projects.
• Ensuring invoices are issued based on payment terms.
• Reconcile collections with sales invoices.
• Perform daily bank reconciliations.

Skills

Project Accounting

Knowledge of Saudi Regulations

Strong Accounting Skills

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 Invoices:

• Study all client contracts to ensure sales invoices are issued based on the payment terms specified in the contract.
• Inform management if there are advance sales invoices that have not yet been 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.
• Reconcile collections with sales invoices to ensure accuracy.

Vendor Invoices:

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

Payments:

• Issue payments for due vendor invoices based on payment terms.
• Process advance payments for purchase orders according to payment terms.
• Ensure clearing of advance payments with progress vendor invoices.
• Prepare LC invoices and obtain approval from BU and concerned authorities.

Reports:

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

Banks:

• Review daily bank statements to identify any transaction risks.
• Upload daily bank transactions on ZFF67 for banks not linked via MT940.
• Perform daily bank reconciliations and clear matching transactions ('FEBA').
• Conduct monthly bank reconciliations.

Treasury (CT):

• Perform daily reconciliation with treasury, identify discrepancies, and follow up on pending transactions.
• Record all CT transactions (LG charges, LC charges, finance costs, internal transfers, etc.) and verify accuracy.
• Conduct monthly reconciliation with CT and obtain signatures from all involved parties.

Reporting:

• Prepare monthly summaries of all bank accounts, including notable cases and processing criteria.

Skills and Qualifications:

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

Education and Certifications:

• Bachelor’s Degree in Finance or Accounting.