Inventory Accountant
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Job summary
The primary purpose of the role is to assist in the daily running of the inventory and cost function, with particular emphasis on stock suppliers, and help with other financial duties as required
Min Qualification:
Bachelors
Experience Level:
Entry level
Experience Length:
1 year
Job descriptions & requirements
Reports to: Management Accountant
Direct Reports: Assistant Inventory Accountant
Department: FINANCE
Work Station: HEAD OFFICE
Job Purpose
The primary purpose of the role is to assist in the daily running of the inventory and cost function, with particular emphasis on stock suppliers, and help with other financial duties as required
Tasks include Review of purchase reconciliations and purchases related accounts in the general ledger; communicating regularly with restaurants on purchases; management of GRNIs
Key responsibilities
• Ensure accuracy of product costing
• Matching all items on stock invoices to those booked_ into the company’s stock system to ensure that all charges are correct in terms of quantities received, invoice value and trade/settlement discounts
• Prepare and distribute weekly, monthly and ad-hoc inventory levels, consumption reports and inventory variances to all the relevant departments.
• Coordinate with marketing and IT departments to ensure that all product costs are properly taken in the cost of sales (bill of materials) and inventory costs.
• Review weekly theoretical food cost reports against actual food cost reports and highlight any significant variances
• Weekly review of inter store transfers and stock adjustment reports
• Monthly review of forecast reorder quantities to prevent overstocking and stock outs
• Monthly purchase reconciliations and monitoring of GRN
• Responsible for maintaining accurate stock listings
• Maintaining and updating the stock records
• Responsible for conducting physical stock counts, perform regular stock reconciliations and overall monitoring of stock transactions.
• Assist in developing and implementing inventory policies and procedures
• Perform monthly stock reconciliations of physical counts against system for all categories of inventory and highlight variances to the management
• Support accurate and timely financial reporting through ensuring all stock data is updated correctly
• Carry out spot checks on stock balances in the warehouse and restaurants as against the system records to capture any anomalies
• Attest to the accuracy of the day-to-day inventory transactions and balances.
• Creation and adjustment of bill of material in SAGE
• New product costing from time to time as well as scenario-based costing to assist decision making (price and volume scenarios, cost reduction scenarios)
• Assisting in general financial management and analysis
• Support with fixed asset management
• Any other duties that may be assigned
Key Deliverables for this role include:
• Weekly Purchase Reconciliation
• Weekly Warehouse Transfer Reconciliation
• Weekly Inter-store transfer reconciliation
• Impromptu spot check and stock counts
• GRN Account Reconciliation
• Stock consumption
• Closing Stock Reconciliation
• COS Reconciliation
Dimensions
Financial Impact
Direct:
1. Accurate inventory records
Indirect:
Assets
People
Direct: Assistant Inventory Accountant
Indirect: None
External Contacts
- Warehouse and Store Management
Educational Requirements:
- Relevant under graduate qualification ; Degree in commerce or a relevant degree
- Professional qualification : Ongoing CPA (K) or ACCA
Related Job Experience/Qualifications:
- Minimum 1 year as an accountant with proven skills in reconciliations and stock management
Technical skills:
- Familiarity with various accounting systems e.g. Sage, SAP, MS Dynamics
Behavioural skills:
- Ability to work under pressure
- Good interpersonal skills
- Attention to detail and proactivity
- Ability to follow instructions and work autonomously
- Excellent ICT proficiency
- Be a team player with good people management skills,
- Strong analytical skills and excellent good communication skills.
- Trustworthy and proven integrity
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