Costing Accountant

Job Overview

We are seeking a detail-oriented and analytical Costing Accountant to join our dynamic finance team. In this pivotal role, you will play a critical part in ensuring the accuracy and efficiency of our invoicing, payment tracking, and accounts receivable processes. Your expertise will directly support our sales and finance teams by providing timely financial insights, maintaining precise records, and facilitating effective follow-up on outstanding accounts. This position is ideal for a proactive professional who thrives in a fast-paced environment and is committed to driving financial integrity and operational excellence.

Key Responsibilities

The Costing Accountant will be responsible for a range of financial and administrative tasks, including:

• Invoicing and Payment Processing:
  • Prepare and issue accurate, timely customer invoices based on approved sales and delivery data to ensure prompt revenue recognition.
  • Record and reconcile incoming payments, ensuring they are accurately applied to customer accounts to maintain financial integrity.
  • Document and maintain comprehensive records of all invoicing and payment transactions to support audit trails and compliance.
• Accounts Monitoring and Sales Support:
  • Monitor customer account balances and payment trends, identifying overdue or irregular accounts to proactively alert the sales team.
  • Generate and distribute periodic aging reports and exception lists to empower the sales team in addressing payment-related issues with clients.
  • Provide data-driven analysis and insights to assist sales in resolving customer payment discrepancies and improving collection efficiency.
• Account Reconciliation and Reporting:
  • Reconcile accounts receivable ledgers to verify the accurate posting of payments and credit memos, ensuring financial records are error-free.
  • Prepare monthly accounts receivable summaries, aging reports, and trend analyses for review by management and sales teams.
  • Support the finance team during month-end closing by delivering accurate, timely reports that meet organizational standards.
• Customer Service and Dispute Resolution Support:
  • Document and track billing discrepancies, flagging unresolved issues for resolution by the sales or customer service teams.
  • Respond to internal inquiries regarding customer account statuses, payment history, or billing concerns with professionalism and clarity.
  • Monitor the resolution of disputes and escalate complex issues to the appropriate stakeholders for timely resolution.
• Documentation and Cross-Functional Collaboration:
  • Maintain organized, up-to-date records of invoices, payments, and account adjustments to ensure compliance and accessibility.
  • Collaborate closely with sales, finance, and customer service teams to ensure account information is accurate, consistent, and aligned with business objectives.
  • Provide essential accounts receivable documentation and data to support internal audits and external reporting requirements.

Role Accountability and Competencies

The ideal candidate will demonstrate proficiency in the following areas:

• HR Proficiency: Commit to continuous learning and development to enhance soft and technical skills relevant to the role.
• Delivery: Execute planned activities to meet operational and development targets within defined timelines, optimizing resources for cost and time efficiency.
• Problem-Solving: Address operational challenges proactively and escalate complex issues to senior management as needed.
• Quality: Uphold high-quality standards by implementing effective quality control processes and adhering to organizational specifications.
• Business Process Improvements: Contribute to the refinement of written systems, policies, and procedures, and identify opportunities for automation to enhance efficiency.
• Compliance: Adhere to company policies, procedures, and work instructions to ensure regulatory and organizational compliance.
• Health, Safety, and Environment: Ensure compliance with relevant safety, quality, and environmental management procedures within your area of responsibility to promote a secure and sustainable work environment.

Qualifications and Experience

To qualify for this role, candidates must meet the following criteria:

• A Bachelor’s degree in Accounting and Finance or a related field.
• A minimum of 2 to 4 years of relevant work experience in cost accounting, accounts receivable, or a similar financial role.
• Strong proficiency in document management, inventory management, invoice processing, and accounts receivable (AR) operations.

About Alfanar

Alfanar is a leading Saudi company with a global footprint, specializing in the manufacturing and trading of a diverse range of electrical products spanning low, medium, and high voltage applications. Our portfolio also includes innovative solutions in conventional and renewable energy, oil and gas, water treatment, infrastructure, technical services, and digital solutions. Headquartered in Riyadh, our state-of-the-art manufacturing hub, Medinet alfanar Alsinaiya, spans 700,000 square meters and houses cutting-edge facilities and laboratories. Join us in shaping the future of energy and infrastructure while contributing to a team that values excellence, innovation, and collaboration.