The Senior Accountant will manage project and service revenue recognition VAT/WHT compliance inventory costing sales commissions and accounts payable. The role requires strong IFRS 15 experience within IT or project-based environments along with solid ERP and month-end closing skills. The accountant will work closely with cross-functional teams to ensure accurate financial reporting and timely reconciliation of all project-related transactions.
Job Responsibilities
Project and Service Revenue & Cost Recognition:
- Recognize project and Service revenue and costs in line with company policies and accounting standards.
- Prepare and post journal entries for revenue and cost recognition.
- Close inventory modules at the end of each month.
- Collect and verify timesheets.
- Record labor costs in the ERP based on approved timesheets.
- Ensure accurate costing and valuation of inventory for financial reporting.
- Reconcile project-related transactions to the respective general ledger accounts.
- Manage the movement of unbilled receivables and unearned revenue to appropriate accounts.
- Reconcile project clearing accounts for misc. expenses and ensure all adjustments are reflected in the financials.
VAT & WHT:
- Calculate and process VAT and WHT for transactions ensure accurate calculation maintain records and file returns timely. Stay updated on regulations and adjust processes as needed.
- Ensure compliance with tax laws maintain documentation and handle inquiries from tax authorities with the support of Group tax head.
Sales Commissions:
- Calculate sales commission accruals based on sales data.
- Post commission accruals at the period-end and reconcile them to actuals.
- Calculate and process the sales commission as per the company policy.
Accounts Payable:
- Validate invoice details against purchase orders and goods receipts (3 way matching).
- Process vendor invoices into the accounts payable module on time.
- Prepare the vendor payments.
- Review vendor aging reports including supplier reconciliations and ensure timely payments.
Amortization & Provisioning:
- Post monthly amortization entries for spare parts.
- Monitor and adjust provisions for slow-moving inventory based on inventory aging.
- Compute and record provisions for bad debts working closely with the AR team to assess risk.
Qualifications :
Education
- Bachelors degree in Accounting Finance Business Administration or a related field.
- Professional qualifications such as CAACCA CPA CMA (full or partial completion) are preferred.
- Additional training or coursework in project accounting IT industry finance IFRS 15 (Revenue from Contracts with Customers) or ERP systems is an advantage.
Experience
- 57 years of accounting or finance experience preferably within an IT System Integrator IT Services Technology Solutions or Project-based environment.
- Experience with project-based revenue recognition especially under IFRS 15 including milestone-based billing unbilled receivables and deferred revenue.
- Strong exposure to service revenue maintenance contracts AMC billing and time-and-material projects.
- Experience in managing inventory of IT hardware spare parts and consumables including costing amortization and provisions for slow-moving or obsolete items.
- Hands-on experience with accounts payable especially vendor management for IT equipment distributors and global technology partners.
- Experience with VAT/WHT regulations applicable to IT hardware supply services and cross-border vendor transactions.
- Familiarity with ERP systems commonly used in IT integration businesses (e.g. Microsoft Dynamics 365 SAP Oracle NetSuite) including project and service modules.
- Demonstrated experience in month-end closing journal entries reconciliations and financial reporting.
Additional Information :
Skills & Abilities
Technical Skills
- Strong understanding of project accounting for IT system integration projects (hardware software services AMC managed services).
- Solid knowledge of IFRS especially IFRS 15 (revenue recognition) and IAS 2 (inventory).
- Proficiency in ERP systems including modules for projects services inventory and accounts payable.
- Advanced Excel skills (pivot tables VLOOKUP/XLOOKUP formulas data analysis).
- Ability to accurately compute and reconcile VAT WHT sales commissions amortizations and provisions.
- Strong understanding of 3-way matching (PO GRN invoice) for IT equipment procurement.
- Familiarity with vendor rebates credit notes warranty claims and other financial elements common to IT distributors and resellers.
Industry-Specific Abilities
- Ability to work with project managers service delivery teams and sales teams to validate revenue timesheets project costs and billing milestones.
- Understanding of service delivery cycles SLA-based contracts and labor cost allocation to IT projects.
- Knowledge of inventory movements related to staging implementation returns and RMA processes.
Soft Skills & Competencies
- Strong analytical problem-solving and reconciliation abilities.
- Excellent communication skills for working with cross-functional teams (Projects Procurement Sales Service Tax).
- High attention to detail and accuracy especially in a fast-paced project environment.
- Ability to manage workload effectively and meet strict month-end and year-end deadlines.
- Strong organizational skills with the ability to prioritize multiple tasks.
- High level of integrity and commitment to compliance and financial controls.
Compliance with policies and procedures based on the ISO standards adopted by CNS.
Remote Work :
No
Employment Type :
Full-time
Key Skills General Ledger Reconciliation,Accounting Software,Account Analysis,GAAP,Journal Entries,QuickBooks,General Ledger Accounting,Accounting,Account Reconciliation,SOX,Microsoft Dynamics GP,NetSuite
Experience: years
Vacancy: 1