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Prasanth Kumar Raveendran

Candidate ID: 1790221

Career Summary

More than 10+ years of UAE experience as a financial professional with a history of managing diverse financial responsibilities, from payroll processing to supplier account management. Seeking a challenging finance role to leverage my extensive expertise in payroll mgt. Immediately Available to Join

Skill Set

•End-to-end payroll processes •Awareness of UAE labor law •Calculation of EOSB & GPSSA •Strong attention to detail •Effective communication •Aptitude for solving issues •Multitasking •Good at MS Office and data entry •Familiarity with ERP software • Exp. in fast-paced work •Maintain professionalism

Professional Information

Total Experience : 14

Nationality : India

Qualification Level : Graduate

Job Function : Accounts / Tax / CS / Audit / Finance

Work Location Preference : UAE

Detailed Profile

CAREER SNAPSHOT

• Payroll Process and Management: As a payroll specialist, I effectively managed end-to-end payroll processes for a highly organized large workforce of 7,000+ employees across 5 entities, ensuring accuracy and timeliness in salary advance recovery and payroll processing.
• End-of-Service Benefits and Annual Leave Calculations: Managed precise calculations of EOSB and annual leave settlements on an average for 200+ employees every month and ensured compliance with UAE labor laws.
• GPSSA and VAT Compliance: Recorded and reconciled entries for UAE nationals' GPSSA contributions and maintained precise VAT records in collaboration with finance and HR.
• Payroll Reports and Reconciliation: Managed various day-to-day financial transactions and conducted monthly payroll reconciliations and MIS reports to the management.
• Policies and Procedures: Adhere to the company policies and procedures to ensure the success of the payroll process.
• Maintain Confidentiality: Maintain the confidentiality of payroll and financial records, including employee data.
• Addressing Employee Inquiries: Collaborate with HR to ensure accurate employee data and respond to resolve all payroll inquiries in an accurate, courteous, confidential, and timely manner.
• Supplier Management: Managed 400+ supplier accounts, ensured timely payments, and resolved overdue accounts.

PROFESSIONAL EXPERIENCE:

Aug 2020 – May 2024 Senior Executive - Payroll Accountant
Sobha Realty, Real Estate, Dubai, UAE
Key Deliverables:

Payroll Processing and Administration:
• Assisting and managing to prepare all aspects of junior staff and technician's payroll processing till WPS release, including salary advance working and data recovery.
• Reconciliation to ensure accuracy and completeness of payroll data for active/inactive employees.
• Verified and updated new joiners' salary details following offer letters and incremental documents.
• Scrutinizing precise records of employees' attendance using HRMS software for the final payroll run.
• Maintaining separate records for bank and cash salaries to distribute to employees.
• Maintaining confidentiality and adhering to data protection policies when handling sensitive employee information.
• Providing administrative support to the payroll team, including preparing and distributing payroll-related reports and statements.
EOSB and Annual Leave Settlements Calculations:
• Managed the meticulous calculation and processing of EOSB and annual leave settlements for a vast workforce comprising more than 7,000 employees, spanning both staff and technicians till release.
• Ensuring strict adherence to UAE labor laws while calculating EOSB, considering factors such as years of service, gratuity, and statutory requirements.
• Ensuring that employees receive their entitled annual leave settlements and EOSB accurately and promptly, promoting employee satisfaction and compliance with labor regulations.
Process of UAE Local Employees GPSSA:
• Meticulously managed the recording, reconciliation, and ensuring compliance with relevant labor laws and regulations, including VAT and GPSSA pension contributions for UAE Local employees in collaboration with the finance and HR departments.
Day-to-day Financial Transactions and Reporting:
• Verifying and processing day-to-day payment requests, such as salary advances, employee medical claims, travel reimbursement claims, and LOP claims as HR requirements under company policies.
• Managed payroll-related payment entries, cost bookings, financial entries, and monthly closing entries as per the MIS team.
• Generated monthly payroll reports such as employee budgeting, reconciliation, and EOSB payment summary as per Mgmt.
• Coordinating with the HR Dept to ensure accurate and timely payment of employee's monthly sales incentives, bonuses, spot cash, and annual airfare.
Assistance and Leadership:
• Mentored junior team members, providing guidance and approvals for their daily transactions.
Communication and Critical Problem Solving:
• Responded to employee and HR inquiries resolving any issues promptly and professionally.
• Maintained a prominent level of professionalism in dealing with employee, HR, and management-related matters.

Nov 2011 - May 2020 Senior Payroll - General Accountant
Al Shafar Steel Eng. LLC (Group of ASGC), Dubai, UAE
Key Deliverables:
Payroll Processing:
• Managed end-to-end monthly payroll process manually in Excel for 2,500+ employees using HRMS time sheets up to WPS release.
• Accurately calculated and verified payroll amounts, ensuring data accuracy and confidentiality.
• Processed cash salary records for new hires and cash salary distributions.
• Calculated and disbursed end-of-service benefits, gratuity, and annual leaves as per UAE labor laws.
• Posted payroll transactions in the ORACLE system, conducted monthly reconciliations, and generated reports for management.
Supplier Account Management:
• Oversaw 400+ supplier accounts, handling payments, reconciliations, and addressing overdue accounts.
• Conducted meetings with suppliers to resolve payment issues.
Financial Reconciliation and Reporting:
• Reconciled daily and monthly bank account statements, cross-verifying with general ledger entries.
• Prepared cash flow reports and summaries to provide insights into accounting activities and managed PRO petty cash and company-related general expenses.
• Accurately recorded purchase invoices in Tally 9.
Audit and Reporting:
• Assisted in quarterly and yearly internal and external audits, ensuring the accuracy and completeness of financial records.
• Prepared various management reports as required.

Dec 2008 – Dec 2010 Accountant
Geebee Group of Garments, Dubai, UAE

• Cash and Transaction Management: Managed daily cash and day books, maintaining detailed financial transaction records. And Entered cash and bank transactions into Tally for precise data management.
• Petty Cash and Invoicing: Controlled petty cash disbursements and facilitated settlements for customers and laborers And Raised sales and purchase invoices in Tally.
• Account Management and Reconciliation: Oversaw debit and credit customer accounts, conducting regular statement reconciliations. And performed monthly bank reconciliations to ensure financial accuracy.
• Payroll and Stock Management: Prepared the monthly payroll register and disbursed employee salaries. And managed monthly stock counts and reconciliations, generating stock movement reports.
• Financial Reporting Support: Assisted in preparing financial statements and reporting to the senior accountant, ensuring timely and accurate financial reporting.