Accountant, Revenue

Date: 18 Jun 2024

Location: Dubai, AE

Company: Majid Al Futtaim

Accountant, Revenue (Temporary Contract  - 6 Months)

The position is responsible to support the Finance Manager– Revenue in overseeing and managing the day to day operation and supervision. This position plays an integral role in verifying and ensuring integrity, completeness and correctness of tenant lease data, advances, receivables and provision balances. It ensures that Accounts Receivable and Leases Revenues are properly authorized according to the company policy and procedure, and with applicable DOA.

Further, this position is also responsible for implementing and monitoring the Revenue and Accounts Receivable monthly closing process as well as regular review of tenant account balances including controlling and monitors timely billing, collection and ensures safe keeping of PDCs.

Role Details – Key Responsibilities and Accountabilities:

  1. Run monthly recurring billing and ensure the monthly revenues booked agree with the signed lease agreements.
  2. Prepare and update receipts to tenants for various payment collection i.e. rent, utilities and deposits etc.,
  3. Review and reconcile tenant accounts balances for revenue and receivables with GL on monthly basis and ensure no integrity issue is pending.
  4. Run IAS 17 and ensure accuracy of adjustment entries processed on a monthly basis.
  5. Prepare tenants’ statement of account as and when required.
  6. Assist and provide swift feedback to Leasing and Asset Management teams in day to day transactions pertaining to renewal, amendments, surrender and new deals.
  7. Provide historical information and analysis as and when required.
  8. Support the business by reducing review and processing time for all Revenue and Receivables transaction, i.e. refunds, Statement of Accounts and billing.
  9. Ensure clearing of any reconciling item resulted from revenue bank accounts reconciliation on timely basis.
  10. Review and ensure correctness of tenants’ balances for advances, deposits, receivables and revenue on monthly basis.
  11. Coordinate with the Oman / Bahrain offices daily and ensure that the daily bank processing for all collections are performed on a timely basis.
  12. Submit monthly consolidated financial key information related to A/R and revenue area.
  13. Review percentage rent calculation and ensure accuracy completeness and timely billing.
  14. Review all tenants’ refunds ensuring compliance with lease agreements and the company’s financial policies and procedures.
  15. Ensure Tenant Variation to standard lease terms and conditions are duly supported with TVR form approved as per DoA requirements.
  16. Review tenant utilities recovery accounts and ensure all tenants are paying either through lease agreement or on actual consumption basis.
  17. Prepare tenants' accounts reconciliations as well as follow-up on pending issues and old outstanding items.
  18. Ensure Proper review and check over billing and collection process ensuring timely and accurate generation and distribution of A/R invoices and receipts.
  19. Assist in other ad-hoc analysis, financial reporting and other various tasks related to areas of responsibility.
  20. Ensure compliance with the MAFP SMBU’s Code of Conduct, Departmental policies and HC Policies and Procedures at all times.
  21. Be the advocate and ambassador of aligning and cascading the MAFP values in the assigned area of responsibility and ensure that it is adhered to and exhibit the same all the time.

Personal Characteristics and Required Background:


Minimum Qualifications/education

  • Bachelor’s degree in Accounting or Finance. Professional qualification such as /ACMA /ACCA etc., is a plus.

Minimum experience

  • Minimum 3 –4 years of post-qualification experience working within a Finance support function. Good knowledge and experience of A/R and Revenue Accounting within a reputed real estate development / asset management organization in GCC or abroad in a similar role.