Hotel Accountant at Venmac Resources Limited

Job Summary

We are seeking a highly competent, detail-oriented, and results-driven Accountant to oversee financial records, reporting, budgeting, and internal financial controls. The successful candidate will ensure accurate financial reporting, proper revenue reconciliation, effective cost management, and compliance with applicable accounting standards and statutory requirements.

The ideal candidate must possess strong analytical skills, sound financial judgment, and the ability to identify financial discrepancies, prevent revenue leakages, and provide management with reliable financial information for decision-making.

Candidates with experience in hotel accounting, hospitality operations, or multi-departmental business environments will have a distinct advantage.

Key Responsibilities

Financial Reporting and Accounting

• Maintain accurate and up-to-date financial records, ledgers, journals, and supporting documentation.
• Prepare monthly, quarterly, and annual financial statements and management accounts.
• Prepare profit and loss statements, balance sheets, cash flow reports, and other financial summaries.
• Reconcile general ledger accounts and investigate discrepancies.
• Ensure all financial transactions are properly recorded, classified, documented, and approved.
• Maintain an organised and auditable accounting system.

Revenue Monitoring and Reconciliation

• Monitor daily revenue generated across all business units and departments.
• Reconcile revenue from room sales, food and beverage, events, laundry, and other hotel services, where applicable.
• Verify daily sales reports against cash collections, POS transactions, bank transfers, and other payment channels.
• Reconcile online travel agency (OTA) bookings, commissions, settlements, and outstanding payments.
• Investigate revenue discrepancies, unauthorised discounts, billing errors, and unexplained variances.
• Ensure all revenue due to the business is accurately recorded and accounted for.

Budgeting and Financial Planning

• Assist management in preparing annual budgets, departmental budgets, and financial forecasts.
• Monitor actual expenditure against approved budgets and investigate significant variances.
• Provide financial analysis to support business planning and management decisions.
• Identify opportunities to improve profitability, reduce unnecessary expenditure, and optimise resource allocation.
• Prepare periodic cash flow forecasts to support effective liquidity management.

Cost Control and Expense Management

• Monitor operational expenses, payroll costs, purchasing, inventory, and departmental spending.
• Review invoices, payment requests, purchase orders, and supporting documents before processing payments.
• Ensure expenditure is properly authorised and supported by valid documentation.
• Monitor food and beverage costs, stock consumption, wastage, and inventory variances where applicable.
• Identify unusual spending patterns and recommend corrective measures.
• Implement controls that prevent fraud, waste, duplicate payments, and unauthorised transactions.

Cash Management and Banking

• Monitor cash inflows and outflows and maintain accurate cash records.
• Reconcile bank statements with the accounting records.
• Monitor daily cash collections, deposits, electronic transfers, and payment settlements.
• Maintain proper documentation for cash advances, reimbursements, and other financial transactions.
• Monitor receivables and payables to ensure timely collection and settlement.
• Ensure that company funds are handled in accordance with approved financial procedures.

Accounts Payable and Receivable

• Maintain accurate records of amounts owed by customers, corporate clients, agents, and other business partners.
• Follow up on outstanding invoices and overdue receivables.
• Verify supplier invoices against purchase orders, delivery notes, and approved contracts.
• Prepare payment schedules and ensure suppliers are paid in line with agreed terms and approved procedures.
• Reconcile supplier statements and resolve outstanding discrepancies.
• Maintain proper records of credit transactions and customer deposits.

Payroll and Statutory Compliance

• Work with Human Resources to verify payroll records, staff deductions, allowances, and other employee-related payments.
• Ensure payroll figures are properly reconciled with accounting records.
• Support the preparation and remittance of applicable statutory deductions and taxes within prescribed deadlines.
• Maintain accurate records for tax filings, pension contributions, and other statutory obligations, as applicable.
• Keep abreast of relevant tax laws, accounting standards, and regulatory requirements.
• Liaise with external auditors, tax consultants, and regulatory authorities when required.

Inventory and Asset Control

• Maintain accurate accounting records for inventory, equipment, furniture, and other business assets.
• Participate in periodic stock counts and physical asset verification.
• Reconcile physical inventory with accounting records and investigate discrepancies.
• Monitor stock movements, purchases, consumption, and adjustments.
• Ensure proper documentation of asset acquisitions, disposals, and transfers.
• Recommend controls to minimise stock losses, pilferage, and unexplained inventory variances.

Internal Controls, Audit and Risk Management

• Implement and monitor financial controls in line with company policies.
• Identify weaknesses in financial processes and recommend improvements.
• Ensure financial transactions comply with approval limits and established procedures.
• Maintain complete documentation for internal and external audits.
• Investigate unusual transactions and report suspected fraud, irregularities, or financial misconduct through the appropriate channels.
• Ensure that financial records are accurate, traceable, and readily available for review.

Management Support and Financial Analysis

• Provide management with timely financial reports and practical recommendations.
• Analyse revenue trends, expenses, profitability, cash flow, and business performance.
• Prepare financial summaries to support strategic and operational decisions.
• Advise management on cost-saving opportunities and financial risks.
• Highlight emerging financial issues and recommend appropriate corrective action.
• Support management in evaluating new investments, contracts, and business opportunities.

Requirements and Qualifications

• Bachelor's degree or HND in Accounting, Finance, or a related discipline.
• Professional accounting qualification such as ICAN, ACCA, or an equivalent recognised qualification is highly desirable.
• Minimum of 5 years of relevant accounting experience, preferably in hospitality, hotel management, retail, or another operationally intensive business.
• Strong knowledge of financial reporting, bank reconciliation, budgeting, cash flow management, and cost control.
• Practical experience with accounting software and financial reporting systems.
• Proficiency in Microsoft Excel and other Microsoft Office applications.
• Knowledge of applicable Nigerian tax regulations and statutory financial obligations.
• Experience with hotel property management systems (PMS), point-of-sale (POS) systems, inventory systems, and OTA reconciliations will be an advantage.
• Strong analytical, numerical, organisational, and problem-solving skills.
• Excellent attention to detail and the ability to identify inconsistencies in financial records.
• High ethical standards, integrity, confidentiality, and accountability.
• Ability to work independently, meet reporting deadlines, and manage competing priorities.

Key Performance Indicators (KPIs)

The Accountant will be assessed on the following performance indicators:

• Accuracy and timeliness of monthly management accounts and financial reports.
• Accuracy of daily revenue reconciliation and completeness of revenue records.
• Timely bank, supplier, customer, and general ledger reconciliations.
• Reduction in unexplained financial variances and revenue leakages.
• Compliance with approved budgets and financial control procedures.
• Timeliness of statutory filings and applicable remittances.
• Accuracy of accounts payable, receivable, and cash flow records.
• Effectiveness in identifying cost-saving opportunities.
• Accuracy of inventory and asset accounting records.
• Audit readiness and timely resolution of audit findings.

Required Personal Attributes

The ideal candidate must be:

• Honest, trustworthy, and financially disciplined.
• Highly analytical and attentive to detail.
• Organised and committed to accurate record-keeping.
• Proactive in identifying financial risks and discrepancies.
• Confident in communicating financial information to management.
• Firm in enforcing financial controls and approval procedures.
• Discreet when handling confidential financial information.
• Results-oriented and committed to continuous improvement.

Compensation and Benefits

• Monthly Salary: ₦400,000
• Full-time employment.
• Opportunity to contribute directly to business performance and financial decision-making.
• Other benefits and employment conditions will be communicated during the recruitment process.

Interested and qualified candidates should submit their updated CV, clearly highlighting their accounting experience, professional qualifications, software proficiency, and relevant achievements in financial management, reporting, reconciliation, and cost control.

Candidates with demonstrable experience in financial control, revenue reconciliation, and management reporting are strongly encouraged to apply.

Please note: Only shortlisted candidates will be contacted.