INVENTORY ACCOUNTANT

JOB SUMMARY

The Inventory Accountant will be responsible for overseeing the company’s inventories of raw materials, packaging materials, and finished goods. This includes ensuring accurate documentation, efficient warehouse operations, and coordination with the production team. The role ensures adherence to internal control standards, proper inventory accounting methods, and timely reporting. The Accountant will also handle the monitoring of all inventory transactions in the general ledger, perform product margin analysis, and lead efforts to reduce inventory loss while supervising inventory-related staff.

DUTIES AND RESPONSIBILITIES

1. Inventory Management and Accounting:

• Agricultural Produce Inventory:

o Oversee the Agricultural Produce inventory at collection centres and the factory.

o Ensure accurate and timely documentation of Agricultural Produce t sourcing processes at both locations.

o Maintain accurate recording of Agricultural Produce sourcing in Tally, ensuring heap data is correctly maintained.

o Ensure minimal errors in documentation and reporting across all Agricultural Produce inventory processes.

• Packaging and Finished Goods Inventory:
• o Manage inventory processes for packaging materials and finished goods at the factory.
• o Ensure adherence to internal movement stock processes and FIFO (First In, First Out) principles for all products.
• General Inventory Management:
• o Organize and lead regular stock takes for raw materials, packaging materials, and finished goods.
• o Ensure warehouses are kept orderly and inventory is properly recorded in the accounting system.
• o Ensure minimal discrepancies in inventory reports and follow up on variances.

2. Inventory Accounting:

• Monitor and record all inventory transactions in the general ledger.
• Ensure accurate and timely posting of manufacturing journals, capturing all associated costs.
• Perform product margin analysis and monitor cost variances.
• Reconcile inventory accounts and correct any discrepancies identified during monthly or periodic reviews.
• Analyse trends, variances, and aging of inventory, making recommendations for process improvements.

3. Reporting:

• Prepare weekly and monthly inventory reports, accurately capturing quantities per warehouse and the associated costs.
• Provide detailed analysis of product costing and ensure accurate updating of bills of materials in the accounting system.
• Participate in month-end closing activities, ensuring all financials related to inventory, revenue, and costing are completed in a timely and accurate manner.

4. Warehouse and Staff Management:

• Supervise warehouse staff, including receiving clerks and data entry clerks, ensuring they follow proper processes and documentation standards.
• Ensure proper organization of the warehouse and supervise regular physical inventory counts.
• Coordinate closely with the production team to ensure alignment on the availability of Agricultural Produce and other materials for production.

5. Audits and Compliance:

• Audit inventory records periodically by reviewing warehouse contents and reconciling internal records with actual stock.
• Lead physical inventory counts and ensure proper documentation is maintained for audit purposes.
• Ensure adherence to internal control processes and procedures regarding inventory management and reporting.

6. Coordination with the Production Team:

• Collaborate with the production team to ensure dehusking schedules align with production needs.
• Ensure adequate availability of Agricultural Produce and other raw materials to meet production schedules.

7. Continuous Improvement:

• Make recommendations to leadership about improving inventory lifecycle processes.
• Implement and oversee best practices to minimize inventory losses and improve efficiency across the supply chain.

KEY REQUIREMENT SKILLS AND QUALIFICATION

• Bachelor’s degree in Accounting/Commerce, CPA, ACCA, or equivalent.
• 3+ years of experience in inventory accounting and cost of goods computations.
• Strong understanding of GAAP and its application in inventory and cost accounting.
• Prior experience in full-spectrum accounting functions (cost accounting, budgeting, forecasting, and reporting) is preferred.
• Preferred Industry Background: Candidates with experience in FMCG (Fast Moving Consumer Goods) are preferred.
• Experience with Tally software is an added advantage.
• Strong analytical and organizational skills, with high attention to detail.
• Excellent interpersonal and communication skills.
• Proven ability to supervise and mentor staff effectively.

HOW TO APPLY

• If you meet the above qualifications, skills and experience send CV to This email address is being protected from spambots. You need JavaScript enabled to view it.
• Interviews will be carried out on a rolling basis until the position is filled.
• Only the shortlisted candidates will be contacted.