Retail Accountant

Source Rite International Fzco. Dubai, United Arab Emirates (On-site)

About the job

We are seeking an experienced and detail-oriented Accountant for our Retail department to join our organization based in Jebel Ali Freezone, Dubai

Responsible for the day-to-day accounting of a retail store chain of 10 Stores today and additional stores in the future spread across the UAE and the GCC region.

Job Description

• Management of Inventory in the Stores Posting of Purchase invoices into the POS of the shops and carrying out inter-store transfers coordinate with the store operations team to oversee inventory management processes, conduct periodic inventory reconciliations, investigate variances, and provide financial insights on inventory valuation and cost control. Carry out price changes in the POS system based on inputs received from the floor.

• Daily accounting (entry to Quick Books of all transactions such as bank or cash payments and receipts, invoices, journal vouchers, debit notes, credit notes, Inventory adjustment notes, etc.) coordinating with the external parties (Suppliers, Group Companiesbanksnk, Insurance Companies, etc.) to ensure the smooth flow of information.

• Preparing payments for Rent, Utilities, Licenses, other expenses by means of cheques, Telegraphic Transfers. Reconciling of the bank accounts. Journalising the Petty Cash expenses incurred in the shops. Reimbursement of Petty Cash.

• Preparation of monthly payroll file for the employees and carryout the necessary deductions, computation of Holiday Pay, sales incentives and ensure the WPS process in complied with.

• Carry out all month end accounting closing including the preparation of monthly financial statements and store wise profitability statement.

• Support audit requirements by providing required information to auditors and aiding the team as and when required during the audit.

• Setting up relevant discount codes, price changes for promotions etc in the POS Software (Retail Pro)

• Knowledge of VAT, preparing the VAT file, arranging invoices for claiming VAT input credit. Preparing the necessary VAT reconciliations with the books.

• Preparation of Monthly reports to the mall management, getting annual audit certificates for the mall management based on the lease agreement. Preparing of a weekly sales report for the principals including the best sellers listing. Providing other reports requested by the management.

• Deposit of Cheques/ Cash into the bank.

• Filing and documentation of all the above.

SKILLS

• Bachelor of Accounting, Finance, or relevant degree.
• Knowledge of Quick Books, Retail POS Software(Retail Pro), and Knowledge of MS Excel/ MS Word is a must. Minimum 3 to 5 years of retail experience.
• UAE Driving License is a must.