Accountant

2 weeks ago


Dubai, Dubai, United Arab Emirates HYTORC Middle East FZE Full time

Founded in 1968, HYTORC is the worldwide leader in industrial bolting solutions. Our mission is to optimize safety, quality and schedule, in industrial bolting through innovative solutions and an unyielding commitment to world class customer service. With over 55 years of experience focused entirely on developing new technologies for hydraulic, electric and pneumatic torque wrenches, while creating a worldwide 24/7 service network, HYTORC has become the most trusted name in the industry.


Today HYTORC boasts a series of smart bolting systems that communicate with in-house developed apps for system control, data exchange, and software updates.

We are proud to be recognized as the innovation leader in our industry, providing award winning solutions to leading businesses globally.

Our customers are in various industries, included but not limited to Oil & Gas, Wind Power, Nuclear, Aerospace, Transportation and many more.


Hytorc Middle East FZE is currently searching for a UAE experienced and talented Accountant to operate as the Finance lead for our Dubai, Abu Dhabi and Saudi Arabia offices.

Applicants must be located in the state of Dubai.

Key Duties

  • Approve and manage accounts payable invoices for payment
  • Input bank template payments and ensure internal wire processing procedures are followed
  • Calculation and verification of commission for distributors
  • Manage local pricing and foreign exchange queries
  • Prepare monthly accounting financial template for Head Office
  • YTD and current month financial results, including actuals versus budget identify trends and present results to local team
  • Ensure inventory is properly valued and maintained
  • Maintain a monthly cash flow forecast
  • Run credit checks on new customers and help to define credit terms
  • Post journal entries at monthend, including accruals, prepayments, depreciation and deferred revenue
  • Prepare monthly balance sheet account reconciliations including AR and inventory provisions
  • Prepare account analysis, identify errors, reclasses as necessary, ensure fluctuations are properly identified on reporting templates
  • Prepare monthend aging reports of collection activities for DXB/AUH/KSA
  • Generate sales report, by customer and by product to agree to the GL, including gross profit margins
  • Point of contact for annual audit & ensure audit is delivered by end of February timeline

Education/Experience Required:

  • 10+ years experience in an accounting function within the UAE.
  • Knowledge of International Financial Reporting Standards (IFRS) and local laws and reporting standards
  • Bachelor's degree in Finance/ Accounting or equivalent
  • Experience working with all levels of staff

Required Skills:

  • Confidence to present information and challenge other departments where necessary
  • Excellent time management and ability to meet deadlines
  • Effective organizational, problemsolving and communication skills
  • Strong analytical skills
  • Detail orientated and willing to take initiative to own projects and manage to completion
  • It is highly essential that the successful individual is able to work within a team as well as independently
  • A willingness to support other departments with urgent tasks as needed
  • A process and control mindset to manage risk, as well as to make improvements
  • Proficient in ERP Software, particularly accounting software packages such as Opera and SAP
  • Advanced computer skills in Microsoft Office, especially Microsoft Excel, Word, PowerPoint
  • Able to complete occasional travel to Abu Dhabi and Saudi Arabia
  • Can easily work swiftly between USD/AED/SAR & Euro currencies.

Work Environment:

Office Environment situated in Jebel Ali Freezone North. Driving license and vehicle is preferred due to the office being located within the Freezone.
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