Accountant (Signature Lounge Kubwa Abuja) at Venmac Resources Limited

Job Summary

• The Hotel Accountant is responsible for managing the hotel’s financial transactions, maintaining accurate financial records, preparing reports, and ensuring compliance with accounting standards and company policies.
• This role ensures proper control of hotel revenues, expenses, assets, and liabilities to support management in decision-making and maintain profitability.

Key Responsibilities:

Financial Accounting and Reporting:

• Record, classify, and summarize daily financial transactions of the hotel.
• Prepare monthly, quarterly, and annual financial statements.
• Monitor accounts payable, accounts receivable, and general ledger reconciliations.
• Ensure compliance with local tax regulations and timely filing of tax returns.
• Prepare payroll and ensure statutory deductions are remitted on time.
• Maintain accurate financial records for the hotel.
• Prepare daily, weekly, and monthly financial reports.
• Monitor hotel revenue streams including rooms, food & beverage, and other services.
• Ensure proper recording of all financial transactions.

Revenue and Expense Management:

• Audit daily revenue reports and reconcile with front office and POS systems.
• Verify and analyse income from rooms, food & beverage, banquets, and other hotel departments.
• Track operating expenses and ensure cost control measures are followed.
• Conduct variance analysis and report discrepancies to management.
• Verify daily revenue reports from Front Office and POS systems.
• Ensure all sales transactions are properly captured and reconciled.
• Monitor room revenue, occupancy reports, and rate accuracy.
• Review credit card transactions and online booking payments.

Internal Controls and Compliance:

• Implement and monitor internal financial controls.
• Ensure compliance with hotel accounting policies, corporate standards, and regulatory requirements.
• Support external and internal audits by providing required documentation.

Budgeting and Forecasting:

• Assist management in the preparation of annual budgets and forecasts.
• Monitor budget performance and highlight variances.
• Provide financial insights to support business strategy and profitability.

Cash and Asset Management:

• Manage cash flow and ensure sufficient funds for hotel operations.
• Monitor bank reconciliations and petty cash management.
• Safeguard the hotel’s financial assets and maintain proper documentation.

Inventory & Cost Control

• Work with stores and procurement departments to monitor inventory usage.
• Conduct periodic inventory checks for:
  • Food and beverage stock
  • Housekeeping supplies
  • Maintenance materials
• Ensure proper cost control measures are implemented.

Bank & Cash Management

• Monitor cash flow and maintain adequate cash balances.
• Reconcile bank statements regularly.
• Manage petty cash accounts and ensure proper documentation.

Compliance & Internal Control

• Ensure compliance with accounting standards and financial regulations.
• Implement and monitor internal financial control systems.
• Work closely with the Internal Auditor during audit reviews.

Financial Reporting

• Prepare monthly management accounts and financial statements.
• Present financial performance reports to management.
• Analyze revenue trends, expenses, and profitability.