Overview
Accounts Receivable Accountant Jobs in Dubai, Dubai, United Arab Emirates at NEFC Group
Title: Accounts Receivable Accountant
Company: NEFC Group
Location: Dubai, Dubai, United Arab Emirates
Job Summary
We are seeking a detail-oriented and analytical Accounts Receivable Accountant with additional expertise in Letters of Credit (LCs) process. You will be responsible for managing the company’s accounts receivable portfolio while ensuring the smooth financial processing of LCs transactions. You will act as the bridge between the sales, customers and finance team to ensure cash flow is optimized.
Key Responsibilities:
1. Accounts Receivable Management
- Invoicing & Collections: Follow up invoices to clients and once they are generated coordinate with sales team, ensuring compliance with contractual terms.
- Petty Cash: Accurately manage the petty cash.
- Aging Analysis: Monitor the accounts receivable aging report, identifying overdue accounts and initiating collection efforts (dunning letters, phone calls).
- Reconciliations: Perform monthly reconciliations of all bank accounts to the sub-ledgers and resolve any variances.
- Customer Relations: Liaise with customers to resolve billing disputes, short payments, or deduction issues.
2. Letter of Credit (LC) Operations
- LC Document: coordinate with sales and supply chain team and review documentation required for Letters of Credit (Sight/Usance) to ensure strict compliance with UCP 600 (Uniform Customs and Practice for Documentary Credits) rules.
- Document Scrutiny: Coordinate with sales and supply chain to ensure documents (invoices, bills of lading, packing lists, certificates of origin) are presented without discrepancies to prevent delays in payment.
- Risk Mitigation: Assess the creditworthiness of international buyers and recommend appropriate trade finance instruments (e.g., Confirmed LCs, Bank Guarantees) to mitigate sovereign and commercial credit risk.
3. Compliance & Reporting
- Regulatory Compliance: Ensure all international transactions comply with local and international trade regulations.
- Reporting: Prepare weekly reports on Days Sales Outstanding (DSO), LC maturity calendars, and bank charges related to trade finance.
- Audit Support: Provide supporting documentation for internal and external audits related to revenue, trade receivables.
- ERP: manage all related ERP postings and reconciliations.
Qualifications & Requirements:
Education & Experience
- Bachelor’s degree in Accounting or Finance.
- Minimum 3–5 years of experience in Accounts Receivable, preferably in an import/export, distributor, or trading company.
- Proven experience handling Documentary Letters of Credit.
Technical Skills
- LC Expertise: Deep understanding of UCP 600 and INCOTERMS. Ability to identify and rectify document discrepancies quickly.
- ERP Proficiency: Experience with ERP systems for both AR modules and trade finance tracking.
- Advanced Excel: Proficiency in Excel (Pivot Tables, VLOOKUPs) for large data analysis and reconciliation.