PAYABLES ACCOUNTANT – FOREIGN CURRENCY PAYMENTS (IMPORTS SECTION) - PAK ARAB REFINERY LTD – PARCO - Karachi, Pakistan
(2006-01 - 2017-12)
PARCO is an integrated energy company that encompasses Pakistan's largest refinery with a refining capacity of 100,000 BPD and 2000 kms of cross-country pipeline network, including its subsidiary PAPCO, a combined storage capacity of over one million metric tons, a marketing joint venture with TOTAL (France), and a technical support venture with OMV (Austria). Worked in SAP & ORACLE ERP systems.
- Responsible for execution/Processing all Foreign contracts (Revenue/capital)
- Responsible for execution of all local crude oil payments and logistics payments
- Responsible for financial modelling and payments and product demand forecast
- Responsible for local crude oil pricing formulas computations
- Responsible for contractual milestone payments and ensure all work completion
- Responsible for Obtaining GoP approvals / foreign exchange allocation against each foreign services
- Responsible for Obtaining Tax orders / Exemptions from CBR against each contract
- Responsible for Obtaining Bank Guarantees (Advance & Performance Bank Guarantees) from contractor & verify its authentication & validity
- Reconcile financial records and statements with General ledger
- Investigate discrepancies and prepared resolution reports
- Responsible for maintaining an efficient and accurate accounting functions
- Assisted peers in going through their learning curve regarding daily usage and process functionality through ERP, Oracle Financial modules & SAP modules
- Reporting of all contracts via preparation of updated schedules (Consolidated/Individual)
- Responsible for tax deposits & obtaining the tax challans against each contractual payment
- Responsible for all foreign payments against shipments & services hired
- Responsible for Preparation of total cost occurred on each shipment / Import
- Responsible for insurance cost allocation against each shipment / Import
- Reporting /Replies to GoP against any query & at the time of budget preparation by GoP
- Reporting /Replies to SBP against any query
- Reporting /Replies to Tax authorities against any query
- Responsible for correct debits charged by banks & booked in books of accounts via SAP
- Responsible for establishment of Letter of credit/ wire transfer against foreign contract & all sort of imports of Goods/Services
- Responsible for maintaining the report for forthcoming foreign exchange requirement / remittance & Intimate Treasury section for fund requirement
- Prepared details Computations of all amount charged against each contractual payment
- Send intimations & acceptance to Bank for payments against contracts
- Responsible for recording all provisions / liabilities within period in books of accounts
- Responsible for preparation of schedule of taxes paid against all contractual payments on FY basis
- Responsible for payments of all shipment expenses and ensure clearance of Goods from customs authorities
- Responsible for cost compilation on consolidated & Itemized basis against each import
- Generate reports in SAP against Imports & Projects
- Coordinate with auditors & prepared schedule for audit
- Work in view of full knowledge with FIDIC standards, ICC's Uniform Customs Practices, Incoterms, foreign exchange manual of SBP, rules of trade, Pakistan Customs Tariff, Customs Act
- Coordinate with warehouse manager for regular procurements & custom clearances & coordinate with engineers for foreign projects
