Finance Executive - AP
Role Overview
• Maintain accurate accounting records for real estate development projects.
• Prepare and maintain project-wise cost reports, including budget, actual cost, commitments, and variances.
• Manage contractor payments, Monitor retention amounts, advance payments, advance recoveries, and contractor deductions.
• Manage AP transactions via trust account system / escrow accounts.
• Maintain contractor and supplier ledgers and perform regular statement reconciliations.
• Coordinate with auditors and provide supporting documentation for project transactions.
• Ensure proper accounting treatment of project costs and expense classification.
• Support month-end and year-end closing activities.
• Ensure proper recording and reconciliation of VAT and other applicable UAE tax-related transactions.
• Coordinate with internal departments and external parties to resolve accounting and payment-related issues.
• Ensure invoices are correctly allocated to the relevant project, cost code, and trust account system / escrow account.
• Ensure all supporting documents and appropriate approvals are obtained before processing payments.
• Ensure the validity, completeness, and timely renewal of project-related guarantees and other contractual documents.
Key Skills for This Role
Full Job Posting
Key responsibilities
- Maintain accurate accounting records for real estate development projects.
- Prepare project-wise cost reports for budgets, actual costs, commitments, and variances.
- Manage contractor payments, retentions, advances, recoveries, and deductions.
- Manage AP transactions through trust account and escrow systems.
- Maintain contractor and supplier ledgers and reconcile statements.
- Coordinate with auditors and provide supporting documentation for project transactions.
- Apply proper project cost accounting and expense classification; support month-end and year-end closing.
- Record and reconcile VAT and other applicable UAE tax transactions.
- Coordinate with internal and external stakeholders to resolve accounting and payment issues.
- Allocate invoices to the correct project, cost code, and account; obtain supporting documents and approvals before payment.
- Check the validity and completeness of project guarantees and contractual documents and ensure timely renewal.
Requirements
- UAE experience is mandatory.
- Bachelor’s degree in Accounting, Finance, or a related discipline.
- 2–3+ years of relevant Accounts Payable or Project Accounting experience.
- Practical contractor and supplier accounting experience, including retentions, advances, recoveries, deductions, and payment certificates.
- Project-based accounting and cost allocation experience is essential.
- Trust or escrow account experience in UAE real estate is highly desirable.
- Good knowledge of UAE VAT and applicable tax-related accounting requirements.
- Strong understanding of accounting principles and AP processes.
- Oracle ERP experience is an advantage.
- Strong Excel skills for project cost and reconciliation reports.
- Strong attention to detail, organization, accuracy, reconciliation, and analytical skills.
- Able to coordinate with stakeholders, work independently, meet deadlines, and manage multiple transactions.
Preferred experience
- UAE real estate development, construction, or property development experience is preferred.
- Experience with project accounting, escrow or trust accounts, contractor payments, project cost reporting, and UAE VAT is preferred.
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