Umer Jamil Butt
Accounting and Finance Professional
Dubai
Summary of Career
1. Manage and Participate in the preparation & finalization of financial statements and reports monthly, quarterly and annually.
2. Participate in the maintenance of accounting records, general and subsidiary ledgers, accounts receivable, accounts payable, depreciation, cost of sales, assets & operating expenses.
3. Filling of Monthly VAT Return & Annually Income Tax Return through Compiling Finance Records.
4. Perform costing of various products, budgeting, variances & estimate future costs & revenues.
5. Perform financial analysis on monthly quarterly and annual basis to ensure smoothness of business.
6. Correspondence with Customers & Vendors regarding Reconciliation, Recovery, Payments, etc.
7. Correspondence with Banks for opening of Accounts, Account Maintenance, Reconciliation, markup calculation (monthly and quarterly) & Credit Facilities like Running Finance and FATR etc.
8. Dealing with banks for annual renewal and enhancement of credit facilities and negotiate markup rates.
9. Ensure Legal & Professional Compliance throughout the company policies & procedures.
10. Supervising the team of 4 finance executives in their accounts related work.
Experience as Senior Accounts & Finance Executive
01 August 2015
22 October 2019
• Manage and Participate in the preparation & finalization of financial statements and reports monthly, quarterly and annually.
• Participate in the maintenance of accounting records, general and subsidiary ledgers, accounts receivable, accounts payable, depreciation, cost of sales, assets & operating expenses.
• Reviewing & Reporting to the Higher Management of Financial Accounts Monthly, Quarterly & Annually.
• Filling of Monthly VAT Return & Annually Income Tax Return through Compiling Finance Records.
• Directs the installation and maintenance of new accounting, timekeeping, payroll, salary disbursements inventory, property, and other related procedures and internal controls.
• Perform costing of various products, budgeting, variances & estimate future costs & revenues.
• Perform financial analysis on monthly quarterly and annual basis to ensure smoothness of business.
• Correspondence with Customers & Vendors regarding Reconciliation, Recovery, Payments, etc.
• Correspondence with Banks for opening of Accounts, Account Maintenance, Reconciliation, markup calculation (monthly and quarterly) & Credit Facilities like Running Finance and FATR etc.
• Dealing with banks for annual renewal and enhancement of credit facilities and negotiate markup rates.
• Financial and non-financial analysis to confirm smoothness of business operation.
• Ensure Legal & Professional Compliance throughout the company policies & procedures.
Achievements
• I have negotiated down the interest rate from 3.5% to 1.4%p.a. with the bank for our credit facilities. This resulted in huge cost saving and I received a bike as a token of appreciation.
• I re-negotiated the insurance premium with the insurance providers for our factory which resulted into 17.5% cost saving annually.
• I implemented the segregation of duties and authorization process in the finance department to minimize the risk of loss and theft of cash.
• Timely Preparation, Reviewing & Reporting to the Higher Management of Financial Accounts Monthly, Quarterly & Annually.
• Compiling, Managing & Reporting Data to Tax Authorities (FBR) for obtaining Advance Income Tax Exemption for various periods resulting in saving of Tax Expense and Time Value for Money.
Experience as Finance & Import Executive
10 February 2015
31 July 2015
• Updated financial spreadsheets with daily transactions, assisted in reconciling statements with customers and vendors, tracked & reconciled banks, created cost analysis reports from ledgers when required.
• Processed invoices and followed up with clients, suppliers and partners as needed.
• Assisted seniors in filling the tax returns online, drafting and printing letters to tax authorities and maintaining files for important tax filings.
• Prepared all the import documentations for opening of LCs, contracts and advance payments; liaise with banks for the import documentation.
• Communicated with different suppliers and indentors regarding imports of raw materials and negotiated down the rates for some items.
• Forwarded the relevant documentation to clearing agents to prepare duty and taxes amount of all shipments and verify these entire amounts by applying custom and taxes rates.
• Tracked and followed up all shipments and recorded it chronologically to avoid terminal penalties.
• Monitored stock levels of all key raw materials to avoid over and under stocks of materials.
Experience as Finance Trainee
10 June 2014
31 January 2015
• Reconciled bank statements, accounts payable & accounts receivable statements.
• Verification of receipts & deposit vouchers collected from 7 different cities; approve or reject entries for vouchers.
• Performed some internal audit duties; reviewed journal entries in ERP system and highlighted any corrections to seniors.
• Created observations on entries and document verification to highlight any discrepancies.
• Maintained proper accounting records by filing them in correct folders.
Bachelor 23 September 2019
BSc in Applied Accounting from Oxford Brookes University - UKOther 31 December 2020
ACCA (Finalist) and Bachelor's in Applied Accounting
Accounts, Finance & VAT Professional | Navafiz Career Advisor | Public Speaker
Abu Dhabi