Inventory Accountant at Kyosk Digital Services Limited

Kyosk Digital Services Limited is a tech-led platform that connects informal retailers who retail in kiosks and other similar retail outlets directly to fast-moving consumer goods companies (FMCGs) by communicating demand from retail outlets directly to FMCGs and their distributors and managing the delivery of the goods to the kiosks.

Our digital ordering and delivery platform – Kyosk – ensures that these retail outlets get access to stock at competitive prices and have them delivered directly to them. FMCGs find the traditional distribution chain to be inadequate as well, making it expensive for them to serve kiosk-type retail outlets, leading to high incidences of product stock-outs and lost sales opportunities. By providing FMCGs with good data visibility, we solve this major problem of theirs.

We are recruiting to fill the position below:

Job Title: Inventory Accountant

Location: Lagos
Employment Type: Full-time

Job Description

• We are looking for a talented person to join our team as an Inventory Accountant.
• The role holder will be responsible for managing Inventory including merchandise and material at hand.
• He/she will be responsible for developing and implementing various accounting methods, developing & analyzing inventory reports and monitoring all inventory transactions in the organization.

Duties and Responsibilities

• Stock Management: Lead physical Inventory counts in the warehouses and post the weekly & monthly stock count numbers. Reconciling inventory accounts to the general ledger and report on any variances. Monitoring inventory prices, track and analyze stock usage on a weekly basis and advice the Finance Manager accordingly. Determine inventory costs and work closely with the purchasing and finance teams to advise the selling prices for good procured by the business. Review and resolve issues with inventory transfer orders between warehouses while providing support and guidance as needed.
• Inventory Analysis: Review and analyze inventory at hand relative to actual consumption levels, supplier lead times, and logistical efficiencies. Provide accurate inventory metrics by SKU and provide solutions to improve inventory management without impacting customer fulfilment rates.
• Reconciliation:Ensure all inventory, manual inventory schedule and cost of sales transactions are processed and reconciled to General Ledger on a monthly basis as per laid down SOPs. Lead the reconciliation of inter warehouse transfers, landed costs and discounts; prepare monthly journal entries as needed.
• Financial Management:Undertake daily vetting and posting of purchases & invoices in the accounting system. Prepare the budget for all overhead spending and track actual spending on a line item basis every month.
• Policy & Compliance:Ensure proper procedures are in place, clearly documented and updated regularly. Assist in the improvement of internal controls related to inventory and spearhead their implementation within the organization.
• Reporting:Develop inventory analysis reports capturing inventory balances, stock movement, prices, cost and variances providing weekly internal inventory reporting. Analyse and prepare reports on key trends to advice business decisions. Track and report actual daily product consumption for each production line and summarize weekly variances and yielded profits or losses per product. Bring to the attention of the Finance Manager any issues or concerns in a timely manner to allow for a quick resolution.

Job Requirements

• Bachelor's Degree in Finance or Accounting required.
• A minimum of 5 years experience as an Inventory or Cost Accountant in an FMCG background;
• A professional qualification in accounting – CPA (K) or ACCA is preferred;
• Demonstrated experience in accounting, costing, financial analysis, forecasting and reporting;
• An understanding of the FMCG business model and dynamics from an accounting and inventory perspective;
• A good understanding of GAAP in relation to inventory;
• Is flexible and able to work as part of a team;
• Proficient in MS Excel, advance excel preferred;
• Experience with Inventory management systems, preferably ERP.

Competencies and Key Skills:

• Strong Financial Acumen;
• Problem Solving Skills;
• Analytical Thinking;
• Detail Orientation;
• Planning & organization skills;
• Tech Savvy.

Application Closing Date
30th April, 2024.