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Accountant - Contracting
Luxury Escapes Real Estate
Dubai, UAE
Full Time
Mid
Onsite
3 weeks ago
Accounts PayableAccounts ReceivableBank ReconciliationGeneral LedgerProject CostingVAT Compliance
Free
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Accounts PayableAccounts ReceivableBank Reconciliation
About the Role
Luxury Escapes Real Estate is seeking an Accountant for its Contracting business in Dubai. The role involves managing accounts payable/receivable, project cost records, reconciliations, and VAT compliance.
Key Skills for This Role
Accounts PayableAccounts ReceivableBank ReconciliationGeneral LedgerProject CostingVAT Compliance
Responsibilities
- Record daily financial transactions accurately, including accounts payable, accounts receivable, invoicing, receipts, payments, journal entries and reconciliations
- Ensure complete and properly organised accounting records, including invoices, LPOs, delivery notes, payment certificates, project documentation and approval evidence are maintained
- Prepare and maintain petty cash reports, expense claims and supporting schedules in line with company policies
- Ensure transactions are coded to the correct project, supplier, subcontractor, cost category and general ledger account
- Maintain finance records relating to construction contracts, variations, claims, LPOs, interim payment applications and supporting project documentation
- Support the preparation and tracking of financial documentation required for project execution, internal reviews, audits and client or consultant approvals
- Assist in reconciling project related receivables, payables, advances, retentions and progress billings against approved documentation
- Coordinate with project, procurement and commercial teams to resolve documentation gaps, approval delays and invoice discrepancies
- Process supplier invoices, subcontractor invoices, payment certificates, advance payments, expense reports and payment requests accurately and on time
- Match invoices and payment requests to approved LPOs, contracts, delivery notes, work completion records and relevant internal approvals
- Maintain vendor and subcontractor records, reconcile supplier and subcontractor statements, and follow up on outstanding differences
- Track subcontractor advances, retention balances, retention releases and payment status in coordination with procurement and project teams
Requirements
- Bachelor's degree in Accounting, Finance, Commerce, Business Administration or a related field
- Part qualified ACCA, CMA, CPA or similar certification is an advantage
- 5+ years of accounting experience, preferably including at least 1 year in contracting, construction, fit out, real estate development, project based services or similar environment
- Hands on experience processing supplier invoices, subcontractor invoices, payment certificates, advances, retentions and account reconciliations
- Exposure to project costing, BOQs, LPO matching, material cost tracking, progress billing or interim payment applications is preferred
- Good working knowledge of accounts payable, accounts receivable, reconciliations, payment processing and general ledger coding
- Practical familiarity with contracting or construction documents, including contracts, variations, claims, LPOs, interim payment applications and payment certificates
- Working knowledge of IFRS 15 revenue recognition principles
- Working understanding of project costing, BOQs, subcontractor billing, material cost tracking, retention, advances and progress payment certifications
- Good understanding of UAE VAT documentation requirements and basic compliance support
- Intermediate Microsoft Excel skills
- Experience using accounting software is required; Zoho Books preferred
Full Job Posting
Overview
- The Accountant Contracting is responsible for supporting the day to day finance and accounting operations of the Contracting business.
- The role requires accurate recording of transactions against projects, suppliers, subcontractors and clients while maintaining supporting documents.
- This is an Accountant level role suited to a hands on finance professional who can manage routine accounting tasks independently.
Financial Operations and Record Keeping
- Record daily financial transactions accurately, including accounts payable, accounts receivable, invoicing, receipts, payments, journal entries and reconciliations.
- Ensure complete and properly organised accounting records, including invoices, LPOs, delivery notes, payment certificates, project documentation and approval evidence are maintained.
- Prepare and maintain petty cash reports, expense claims and supporting schedules in line with company policies.
- Ensure transactions are coded to the correct project, supplier, subcontractor, cost category and general ledger account.
Contracting and Project Documentation Support
- Maintain finance records relating to construction contracts, variations, claims, LPOs, interim payment applications and supporting project documentation.
- Support the preparation and tracking of financial documentation required for project execution, internal reviews, audits and client or consultant approvals.
- Assist in reconciling project related receivables, payables, advances, retentions and progress billings against approved documentation.
- Coordinate with project, procurement and commercial teams to resolve documentation gaps, approval delays and invoice discrepancies.
Accounts Payable and Supplier/Subcontractor Payments
- Process supplier invoices, subcontractor invoices, payment certificates, advance payments, expense reports and payment requests accurately and on time.
- Match invoices and payment requests to approved LPOs, contracts, delivery notes, work completion records and relevant internal approvals.
- Maintain vendor and subcontractor records, reconcile supplier and subcontractor statements, and follow up on outstanding differences.
- Track subcontractor advances, retention balances, retention releases and payment status in coordination with procurement and project teams.
- Prepare weekly, monthly and ad hoc payment schedules for review and approval by the Head of Contracting and Head of Finance.
Accounts Receivable, Billing and Collections Support
- Prepare or support client invoices, interim payment applications, progress billing schedules and related supporting documentation.
- Track client receivables, certified amounts, amounts billed, amounts collected, retention balances and outstanding approvals.
- Follow up internally on billing documentation and externally on payment status where instructed by management.
Project Costing and Reconciliations
- Maintain project cost records, including BOQ linked cost tracking, subcontractor billing, material cost tracking, supplier invoices, advances, retentions and accruals.
- Assist in reconciling project costs against budgets, BOQs, LPOs, approved subcontractor agreements and progress payment certifications.
- Prepare project level cost and payable schedules for finance review and month end reporting.
- Identify unusual cost movements, missing documentation or unmatched project transactions and escalate them promptly.
VAT Compliance and Month End Support
- Prepare VAT input/output schedules and ensure tax invoices and supporting documents meet UAE VAT documentation requirements.
- Perform month end closing activities, including accruals, prepayments, reconciliations, payables, receivables and project cost schedules.
- Ensure finance activities comply with internal policies, approval matrices and applicable regulatory requirements.
- Support internal and external audit requirements by providing accurate schedules and supporting documentation.
Communication and Team Collaboration
- Respond to internal team queries professionally and within agreed timelines.
- Work closely with Finance, Procurement, Project and Commercial teams to resolve invoice, payment, costing and documentation issues.
- Support process improvements in filing, approval workflows, reconciliations and project cost tracking.
Skills and Qualifications
- Good working knowledge of accounts payable, accounts receivable, reconciliations, payment processing and general ledger coding.
- Practical familiarity with contracting or construction documents, including contracts, variations, claims, LPOs, interim payment applications and payment certificates.
- Working knowledge of IFRS 15 revenue recognition principles, including Percentage of Completion (POC) calculations, cost to complete assessments, and project based contract accounting.
- Working understanding of project costing, BOQs, subcontractor billing, material cost tracking, retention, advances and progress payment certifications.
- Ability to maintain accurate project, supplier, subcontractor and client account reconciliations.
- Good understanding of UAE VAT documentation requirements and basic compliance support.
- Strong attention to detail and ability to maintain complete supporting documentation.
- Intermediate Microsoft Excel skills, including reconciliations, schedules, filters, lookups and basic reporting.
- Clear communication skills and ability to coordinate with procurement, project, commercial, supplier and subcontractor stakeholders.
- Ability to work independently on routine accounting tasks and escalate complex issues appropriately.
- Bachelor's degree in Accounting, Finance, Commerce, Business Administration or a related field.
- Part qualified ACCA, CMA, CPA or similar certification is an advantage, but not mandatory.
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