Revenue Accountant, Majid Al Futtaim Dubai UAE

Majid Al Futtaim (MAF) presently has a job opening for eligible candidate for position of a Revenue Accountant (Temporary 6 months contract) in Dubai UAE. MAF is an Emirati holding company based in Dubai, UAE. It owns & operates shopping malls, leisure establishments and retail in the MENA region. The group was established in 1992 and manages three major operating subsidiaries, Majid Al Futtaim Ventures, Majid Al Futtaim Properties and Majid Al Futtaim Retail. MAF Retail establishes and manages supermarkets, hypermarkets, fashion and specialty retail stores. The company has over 40,000 team members in 15 International markets representing over 100 Nationalities – all keeping the customer at the heart of everything they do.

Job Purpose of A Revenue Accountant

• Support the Finance Manager Revenue in overseeing and managing the day to day operation and supervision.
• Plays an integral role in verifying and ensuring integrity, completeness and correctness of tenant lease data, advances, receivables and provision balances.
• Responsible for implementing and monitoring the Revenue and Accounts Receivable monthly closing process.

Duties of A Revenue Accountant

• Run monthly recurring billing and ensure the monthly revenues booked agree with the signed lease agreements.
• Prepare and update receipts to tenants for various payment collection i.e. rent, utilities and deposits etc.,
• Run IAS 17 and ensure accuracy of adjustment entries processed on a monthly basis.
• Prepare tenants statement of account as and when required.
• Assist and provide swift feedback to Leasing and Asset Management teams in day to day transactions pertaining to renewal, amendments, surrender and new deals.
• Provide historical information and analysis as and when required.
• Support the business by reducing review and processing time for all Revenue and Receivables transaction, i.e. refunds, Statement of Accounts and billing.
• Ensure clearing of any reconciling item resulted from revenue bank accounts reconciliation on timely basis.
• Review and ensure correctness of tenants’ balances for advances, deposits, receivables and revenue on monthly basis.
• Coordinate with the Oman / Bahrain offices daily and ensure that the daily bank processing for all collections are performed on a timely basis.
• Submit monthly consolidated financial key information related to A/R and revenue area.
• Review percentage rent calculation and ensure accuracy completeness and timely billing.
• Review all tenants’ refunds ensuring compliance with lease agreements and the company’s financial policies and procedures.

What You’ll Do More?

• Ensure Tenant Variation to standard lease terms and conditions are duly supported with TVR form approved as per DoA requirements.
• Review and reconcile tenant accounts balances for revenue and receivables with GL on monthly basis and ensure no integrity issue is pending.
• Review tenant utilities recovery accounts and ensure all tenants are paying either through lease agreement or on actual consumption basis.
• Prepare tenants’ accounts reconciliations as well as follow-up on pending issues and old outstanding items.
• Ensure Proper review and check over billing and collection process ensuring timely and accurate generation and distribution of A/R invoices and receipts.
• Assist in other ad-hoc analysis, financial reporting and other various tasks related to areas of responsibility.
• Ensure compliance with the MAFP SMBU’s Code of Conduct, Departmental policies and HC Policies and Procedures at all times.

Who Can Apply?

Qualification

• Bachelor’s degree in Accounting or Finance.
• Professional qualification such as /ACMA /ACCA etc., is a plus.

Experience

• Minimum 3–4 years of post-qualification experience working within a Finance support function.
• Good experience of A/R and Revenue Accounting within a reputed real estate development / asset management organization in GCC or abroad in a similar role.

Controllership Manager, Majid Al Futtaim Dubai UAE