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Inventory Accountant

4 weeks ago

Lagos, Lagos, Nigeria Khenpro Global Services Full time

Responsibilities
Inventory Management:

  • Maintain accurate inventory records, including tracking inventory levels, costs, and movements.
  • Perform regular inventory reconciliations to ensure that physical counts match recorded quantities.
  • Monitor inventory turnover rates and assist in identifying slow-moving or obsolete inventory.

Financial Reporting:

  • Prepare and review inventory-related financial statements, including cost of goods sold COGS and gross margin calculations.
  • Analyze inventory data and prepare reports on inventory performance and variances.
  • Assist with month-end and year-end closing processes related to inventory.

Accounting Duties:

  • Record inventory transactions in the general ledger and ensure proper classification and allocation.
  • Reconcile inventory accounts and resolve any discrepancies or issues.
  • Assist with the preparation of inventory-related journal entries and adjustments.

Audit and Compliance:

  • Support internal and external audits by providing necessary documentation and explanations related to inventory.
  • Ensure compliance with accounting policies, procedures, and regulatory requirements.

Collaboration:

  • Work closely with the procurement and supply chain teams to ensure accurate inventory planning and forecasting.
  • Coordinate with the sales and operations teams to address inventory-related issues and optimize inventory levels.
  • Provide support and training to other departments on inventory accounting matters.

Process Improvement:

  • Identify and implement improvements to inventory accounting processes and systems.
  • Stay updated on industry best practices and accounting standards related to inventory management.

Requirements

  • Bachelor's Degree in Accounting, Finance or Business.
  • 1-2 years of relevant work experience, including knowledge of GAAP.
  • Experience examining, analyzing, and interpreting accounting systems, records, and reports.
  • Excellent interpersonal communication and problem-solving skills.
  • Ability to multi-task and prioritize workload.
  • Ability to be an effective team member and display initiative.
  • Strong work ethic and attention to detail – eager to learn and grow within the organization.
  • Ability to handle confidential information in a discreet, professional manner.
  • Proficient with Microsoft Office suite, especially Excel.
  • Experience with ERP / Financial systems.