Job
Description
Company Overview: Gulf Water Treatment Co. Ltd. (GWT) has been a pioneering force in the United Arab Emirates since its establishment in 1992. Our journey has seen us transform from a modest provider of desalination systems to a forward-thinking enterprise, dedicated to delivering comprehensive water-centric services and innovative solutions. Position Overview: The Senior Accountant will be responsible for overseeing and executing accurate financial reporting, project-based accounting, and compliance with VAT and regulatory standards. The role requires hands-on experience in managing project cost tracking, revenue recognition, budgeting, and monthly closing activities in a dynamic, multi-vertical engineering environment. Key Responsibilities: General Ledger and Financial Management: · Maintain and reconcile the general ledger, ensuring accurate journal entries and allocations. · Oversee day-to-day accounting activities including bank reconciliations, cash and petty cash management. · Conduct monthly, quarterly and year-end closings with complete supporting schedules. · Ensure financial records are maintained in compliance with approved policies and procedures. Project Accounting & Cost Control: · Monitor and track actual project costs (material, labor, subcontracting) against budgets. · Prepare project profitability reports, and identify cost overruns or variances. · Manage project-based invoicing (progress billing, milestone billing), retention accounting, and advance adjustments. · Ensure accurate revenue recognition in accordance with IFRS and company policy. · Align with project managers on work-in-progress (WIP), billing milestones, and project deliverables. Trading & Inventory Accounting: · Track inventory movement and perform quarterly physical count reconciliations. · Ensure Cost of Goods Sold (COGS) is correctly recorded and gross margins are monitored. · Reconcile stock in transit and GRN vs. PO matching. Accounts Receivable & Payable: · Monitor customer aging reports and follow up on outstanding receivables. · Coordinate with sales teams on payment collections and credit control. · Verify supplier invoices, coordinate with procurement, and ensure timely payments. Budgeting & Reporting: · Prepare monthly MIS reports including P&L, Balance Sheet, Cash Flow, and project-wise profitability. · Prepare cash flow projections and variance analysis against budget. · Support department heads with budget planning and monitoring. Cash Flow & Treasury: · Monitor daily cash flow requirements and prepare cash flow forecasts. · Track upcoming payments, project fund availability, and loan repayments. · Liaise with banks for facilities, online banking, guarantees, and reconciliations. Audit & Internal Controls: · Support statutory and internal audits by preparing audit schedules and documentation. · Implement and monitor internal controls over financial processes, approvals, and documentation. · Ensure accurate recordkeeping and timely archiving of financial documents. ERP & Process Optimization: · Maintain accurate and up-to-date financial data in the ERP (Odoo or equivalent). · Identify and implement process improvements for automation and accuracy. · Train junior accounting staff on system usage and company policies. VAT & Regulatory Compliance: · File monthly or quarterly VAT returns (UAE/KSA) and ensure proper documentation. · Maintain electronic invoices per ZATCA/FATOORA standards in KSA. · Respond to VAT queries and audits, ensuring zero non-compliance penalties. Corporate Tax & Regulatory Compliance (UAE, KSA, India): · Ensure full compliance with corporate tax regulations in all operating jurisdictions—UAE, Saudi Arabia (Zakat & Income Tax), and India. · Handle tax registration, return preparation, and timely filings for each country, in coordination with consultants or advisors as required. · Maintain accurate documentation for all tax-related transactions, audits, and inspections. · Stay up to date on statutory changes in each region including Corporate Tax, VAT/GST, TDS (India), and withholding taxes. · Monitor deadlines and ensure accurate filing of: o UAE Corporate Tax and VAT o KSA Zakat, Income Tax, and e-invoicing (ZATCA) o India Corporate Tax, GST, TDS, and other statutory dues (PF, ESI, PT). · Support cross-border compliance requirements such as transfer pricing, intercompany agreements, and group consolidations. · Coordinate with internal teams and external consultants to ensure proper tax treatment across EPC, trading, AMC, and service contracts . Qualifications: · Bachelor’s degree in Accounting, Finance, or Commerce (Master’s degree preferred). · Professional certification such as CA (India), ACCA, CPA, or CMA is strongly preferred. · Strong knowledge of IFRS, project accounting, and VAT compliance · Minimum 8-10 years of experience in accounting and finance, with exposure to project-based businesses like EPC contracting companies. · Experience in handling multi-country operations or group-level consolidation is a plus. · Familiarity with cross-border transactions, DDP shipments, and LC documentation is a plus. Key Skills: · Strong attention to detail, ability to work independently, and meet tight deadlines. · Excellent analytical and problem-solving skills. · High proficiency in Excel and accounting systems (Odoo preferred). · Strong communication and interpersonal skills. · Ability to multitask and work under pressure with tight deadlines.
