Finance serves an essential role to any company, Finance and Accounts department is in charge of monitoring all the financial activities of Nile Petroleum Corporation. The department plays a crucial role as it represent the fruits of the drilling and completion of operations that come at a substantial cost, It focuses on the long-term, overall picture of the financial structure and plans for a business. Its areas of responsibility are financing, capital structure, investment decisions, and dividends and return of capital.

The finance and account department is divided into two sections, namely:

  • Account Receivables
  • Account Payables


General description

The Accounts Receivable section’s main task is to:

  • Ensure collection actions and timelines are effective and efficient.
  • Ensure Accounts receivable “balances” give a fair representation of what is due to NILEPET.
  • Reconcile accounts receivable ledger balances to customer statement balances.
  • Define the criteria for writing off overdue accounts as well as the approvals needed.
  • Ensure the company receives payments for goods and services, and records these transactions accordingly.
  • Accounts Receivable task include securing revenue by verifying and posting receipts, and resolving any discrepancies.

Main Duties and Responsibilities for Account Receivables

  • Maintain up-to-date billing system
  • Generate and send out invoices, generate account statements
  • Follow up on, collect and allocate payments
  • Carry out billing, collection and reporting activities according to specific deadlines
  • Perform account reconciliations
  • Monitor customer account details for non-payments, delayed payments and other irregularities
  • Research and resolve payment discrepancies
  • Generate debtors aging analysis
  • Ensure Debit/Credit Notes are approved by authorized personnel within their limits of authority and are valid and processed on timely basis.
  • Maintain accounts receivable customer files and records
  • Follow established procedures for processing receipts, cash, etc
  • Process credit card payments
  • Prepare bank deposits
  • Investigate and resolve customer queries
  • Process adjustments
  • Develop a recovery system and initiate collection efforts
  • Communicate with customers via phone, email, mail or personally
  • Assist with month-end closing
  • Collect data and prepare monthly metrics

Accounts Payable

General description

The Accounts Payable section’s main task is to:

  • Ensure supplier invoices are valid, authorized and properly processed.
  • Ensure accounts payable data is accurate an accounts payable’ balances give a fair representation of what is owed for the suppliers.
  • Creditors’ accounts are properly recorded.
  • Reconcile Accounts Payable ledger balances to supplier statement balances
  • Payments comply with negotiated terms and due dates.
  • Ensure Timely processing of payments and accurate recording.
  • Ensure Payment are properly authorized in compliance with the appropriate levels of authority.
  • Payment made based on duly supported invoices.
  • Complete payments and control expenses by receiving payments, plus processing, verifying and reconciling invoices.

Main Duties and Responsibilities for Accounts Payable

  • Keeping track of all payments and expenditures, including payroll, purchase orders, invoices, statements, etc.
  • Reconciling processed work by verifying entries and comparing system reports to balances
  • Maintaining historical records
  • Paying employees by verifying expense reports and preparing pay checks
  • Paying vendors by scheduling pay checks and ensuring payment is received for outstanding credit; generally responding to all vendor enquiries regarding finance
  • Preparing analyses of accounts and producing monthly reports
  • Continuing to improve the payment process

Our support Hotline is available 8 Hours a day

Monday-Friday: 8 AM to 5 PM
Saturday – Sunday: By Special Appointment
Public Holidays: Closed