Accountant

Life Smoothies

Role Description

Financial Record Keeping (Bookkeeping)

Bookkeeping & General Ledger: Accurately record all daily financial transactions (sales, purchases, expenses, fixed assets) into the General Ledger (GL).

Accounts Payable (AP): Process vendor invoices, manage payment runs, reconcile supplier statements, and ensure timely and accurate disbursements.

Accounts Receivable (AR): Generate and issue customer invoices, monitor outstanding debts, perform collections, and reconcile customer statements.

Bank and GL Reconciliation: Perform daily/weekly reconciliation of bank statements, cash accounts, and all major GL accounts to ensure data integrity.

Inventory/Cost Accounting (if applicable): Maintain accurate records of inventory movement, calculate Cost of Goods Sold (COGS), and track production costs.

Financial Reporting and Analysis

Month-End/Year-End Close: Execute all necessary steps to finalize accounting periods, including preparing and posting accruals, prepayments, and adjusting entries.

Financial Statement Preparation: Prepare the core financial statements in compliance with International Financial Reporting Standards (IFRS), including:

Statement of Financial Position (Balance Sheet)

Statement of Comprehensive Income (Profit & Loss)

Statement of Cash Flows

Budgeting & Variance Analysis: Assist in the preparation of annual budgets and forecasts, and analyze monthly financial results against budget (variance analysis) to identify issues and opportunities.

Management Reporting: Generate periodic reports (e.g., aging reports, profitability by department/project) to provide management with actionable financial insights.

UAE Tax and Regulatory Compliance

The introduction of Corporate Tax and the existence of VAT have made compliance a major focus for all accountants in the UAE.

• Value Added Tax (VAT):
• Ensure proper VAT treatment is applied to all sales and purchases.
• Prepare and file monthly/quarterly VAT returns with the Federal Tax Authority (FTA) accurately and on time.
• Maintain all necessary tax records and documentation for VAT audits (typically seven years).

Corporate Tax (CT): (Plus point)

Understand and apply the UAE Corporate Tax Law principles.

Assist in calculating the company's Taxable Income by making required adjustments to the accounting profit.

Prepare and ensure the timely filing of the annual Corporate Tax Return.

Monitor intercompany transactions and transfer pricing compliance (especially in larger multinational companies).