Accountant at Tonia Pharmacy Limited

Job Summary

• The Accountant is responsible for managing the financial records of Tonia Pharmacy Ltd, ensuring accurate financial reporting, maintaining statutory compliance, monitoring cash flow, supporting budgeting processes, and safeguarding the company's financial assets.
• The role requires accuracy, integrity, confidentiality, and a strong understanding of accounting principles applicable to the pharmaceutical retail and wholesale industry.

Key Responsibilities
Financial Accounting:

• Prepare and maintain accurate financial records and accounting books.
• Record daily financial transactions in the accounting system.
• Prepare monthly, quarterly, and annual financial statements.
• Reconcile bank accounts and cash balances regularly.
• Maintain the general ledger and subsidiary ledgers.

Revenue and Expense Management:

• Monitor daily sales reports from all pharmacy branches.
• Verify sales deposits and reconcile with POS/IPOS reports.
• Process supplier invoices and staff reimbursements.
• Monitor operational expenses and ensure proper documentation.
• Ensure timely payment of approved expenses.

Budgeting and Financial Planning:

• Assist in preparing annual budgets.
• Monitor departmental budgets and expenditures.
• Prepare budget variance reports and recommend corrective actions.
• Provide financial analysis to support management decisions.

Payroll Administration:

• Prepare monthly payroll.
• Process statutory deductions including:
  • PAYE
  • Pension
  • NHF (where applicable)
  • NSITF
  • ITF
• Ensure salaries are paid accurately and on schedule.

 Tax and Regulatory Compliance:

• Ensure compliance with Nigerian tax regulations.
• Prepare and remit VAT, WHT, PAYE, Company Income Tax, and other statutory obligations.
• Liaise with FIRS, State Internal Revenue Service, and regulatory agencies.
• Maintain proper tax records and documentation.

Inventory Financial Control:

• Work closely with Inventory Officers to reconcile stock values.
• Investigate inventory variances.
• Participate in periodic stock counts.
• Ensure proper costing of inventory.
• Prepare inventory valuation reports.

Accounts Payable and Receivable:

• Maintain supplier accounts.
• Monitor customer receivables.
• Follow up on outstanding payments.
• Reconcile supplier statements.
• Prepare aging analysis reports.

Financial Reporting:
Prepare:

• Daily financial reports
• Weekly management reports
• Monthly management accounts
• Cash flow reports
• Profit & Loss Statement
• Balance Sheet
• Trial Balance
• Budget performance reports

Internal Control:

• Ensure compliance with company financial policies.
• Monitor financial transactions for accuracy.
• Detect and report financial irregularities.
• Support internal and external audits.
• Maintain proper documentation for all transactions.

Banking Operations:

• Manage company bank accounts.
• Prepare bank reconciliation statements.
• Process electronic transfers.
• Monitor cash flow.
• Liaise with banks on financial matters.

Management Support:

• Provide financial advice to management.
• Support strategic decision-making with financial data.
• Prepare financial forecasts.
• Participate in management meetings when required.

Key Performance Indicators (KPIs)

• Accuracy of financial reports.
• Timeliness of monthly financial statements.
• Zero unresolved bank reconciliation differences.
• Compliance with statutory remittances.
• Accuracy of payroll processing.
• Reduction in financial discrepancies.
• Timely supplier payments.
• Effective cash flow management.
• Inventory reconciliation accuracy.
• Audit compliance rating.

Qualifications

• Bachelor's Degree (B.Sc. or HND) in Accounting, Finance, Economics, or a related discipline.
• Professional qualification such as ICAN, ACCA, ACA, or ANAN is an added advantage.
• 3–5 years of accounting experience, preferably in the pharmaceutical, retail, or healthcare sector.

Skills and Competencies:

• Strong knowledge of accounting principles.
• Excellent financial reporting skills.
• Proficiency in Microsoft Excel and accounting software (e.g., Sage, QuickBooks, Zoho Books, or ERP systems).
• Analytical and problem-solving skills.
• High level of integrity and confidentiality.
• Attention to detail.
• Strong organizational and time management skills.
• Effective communication and interpersonal skills.
• Ability to work under pressure and meet deadlines.
• Knowledge of Nigerian tax laws and financial regulations.

Personal Attributes:

• Honest and trustworthy.
• Professional appearance and conduct.
• Self-motivated and proactive.
• Team player.
• Excellent analytical mindset.
• Ability to handle confidential information.
• Strong work ethic.
• Dependable and accountable.

Working Conditions:

• Monday – Saturday (or as determined by company operations).
• May be required to work beyond normal hours during month-end, year-end, stock counts, audits, or other critical financial reporting periods.
• May occasionally travel to company branches for financial inspections, stock verification, or audit activities.

Authority Level:
The Accountant is authorized to:

• Verify financial transactions before payment.
• Recommend approval or rejection of financial documents based on compliance.
• Prepare financial reports for management review.
• Liaise with banks, auditors, tax authorities, and regulatory agencies on behalf of the company.
• Recommend improvements to financial controls and accounting processes.

Code of Conduct:
The Accountant shall:

• Maintain strict confidentiality of all financial information.
• Adhere to Tonia Pharmacy Ltd's policies, procedures, and ethical standards.
• Comply with all applicable financial regulations and professional accounting standards.
• Avoid conflicts of interest and report any suspected fraud or financial misconduct immediately.