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Job summary
A finance firm in Saudi Arabia is seeking a professional to support financial controllers with monthly and yearly closing activities. The role includes monitoring inventory movements, preparing accruals and prepayments, and finalizing financial statements for review. This position requires close attention to VAT regulations and coordination with relevant authorities. The ideal candidate will ensure proper record-keeping and reconciliations while providing support for VAT audits.
Responsibilities
- Supports Financial Controllers in monthly closing and reporting.
- Monitors and reports inventory movements.
- Prepares journal vouchers for month-end activities.
Sub Department: Finance and Accounting - Accounting & Controlling
Number of Openings: 1
Supports Financial Controllers in monthly / yearly closing and maintain proper records of Inventory, Expense accruals and VAT with timely recording and monthly reporting.
Inventory Control
- Monitor and report inventory movements including incoming and outgoing shipments, inter branch transfers, sales and purchase returns etc.
- Prepare report for inventory valuation, ageing and adjustments.
- Reconcile inventory ledger with General Ledger on monthly basis
Accruals and Prepayments
- Review and propose accruals on monthly basis for various types of expenses and their subsequent adjustment.
- Prepare schedule of prepayments and propose monthly vouchers for adjustments.
Month end activities
- Prepare Journal Vouchers for month end including accrual, provisions and adjustments.
- Prepare trial balance reconciliations for sub-ledgers with general ledgers
- Finalize the trial balance and prepare a set of Financial Statements for review of Financial Controller.
- Keep abreast with latest rules and regulations regarding VAT and prompt early action by Company.
- Prepare monthly reconciliation of Input VAT with purchasing reports.
- Prepare monthly reconciliation of Output VAT with sales reports.
- Prepare VAT return on monthly basis.
- Coordinate with GAZT for monthly return submission and subsequent queries.
- Support in provision of information and reports in VAT audits to be conducted by GAZT
* The salary benchmark is based on the target salaries of market leaders in their relevant sectors. It is intended to serve as a guide to help Premium Members assess open positions and to help in salary negotiations. The salary benchmark is not provided directly by the company, which could be significantly higher or lower.