Indirect Account Payable Officer at Food Concepts Plc

Job Summary 

• To process all invoices received for payment and to undertake the payment of all creditors in an accurate, efficient, and timely manner.

Core Responsibilities and Key Result Areas
Financial Transactions:

• Process accounts and incoming invoices in compliance with financial policies and procedures
• Perform day-to-day financial transactions, including verifying, classifying, computing, posting, and recording accounts payable data
• Prepare bills for Franchise Royalty Invoices, Franchise Marketing invoices, and all sundry invoice requests
• Apply payments from franchises to their GL and ensure monthly reconciliation of franchise receivables.
• Book all cash advance requests and cash advance retirements.
• Reconcile the payable GLs to the ageing reports and other relevant schedules
• Verify discrepancies and resolve suppliers’ billing issues
• Facilitate payment of vendor invoices by sorting and transmitting due invoices for the payment team.
• Prepare weekly cash advance reports
• Prepare a weekly outstanding franchise invoices report
• Prepare a weekly creditors' ageing report

 Bookkeeping and Reporting:

• Generate financial  reports detailing accounts payable and receivable status
• Post transactions to the Financial Reporting System
• Initiate journal records for Franchise payments
• Generate a weekly report of due unretired cash advances

Key Performance Indicators

• Timeliness of Franchise invoicing
• Timeliness of posting payment request dockets
• Accuracy of weekly reports (vendors’ ageing report, cash advance reports, and Franchise receivable invoices)
• Number of invoices processed per day
• Percentage of invoice exceptions per audit journals
• Maintenance of good relationships with suppliers

Job Specifications
Educational Requirements:

• A good first degree in Accounting or Finance

Professional Requirements:

• Membership of ICAN, ACCA, or any other related professional body is an added advantage

Experience Requirements:

• A minimum of 4 years’ experience in a similar role is required

Knowledge Requirements:

• Knowledge of Basic Bookkeeping and accounting payable principles
• Knowledge of managing accounting figures and financial records
• Demonstrates data entry skills with a knack for numbers
• Knowledge of accounting software

Decision Expectations:

• Facilitate payment of invoices due
• Generate financial statements and reports detailing accounts payable status
• Ensure timely entry of invoices for payment
• Support other accounting functions

Working Conditions:

• Jobholders typically work 40 hours per week, Monday to Friday, although some roles may involve weekend or evening work.
• This role is largely office-based and requires strong attention to detail.
• Like other accounting positions, it involves handling a significant volume of paperwork and documentation.
• The jobholder must maintain a well-organized system to match the right documents with the appropriate files and payments.
• Additionally, the ability to prioritize payments based on due dates, amounts, and the relationship with the payee is essential.

Contacts and Purpose of Contact
Internal Contacts (most frequent contacts):

• Executive Management
• Senior Management
• Middle Management
• Peers.

External Contacts (most frequent contacts):

• Service Providers/ Vendors
• External and Regulatory Auditors
• Franchise.

Purpose of Contact:

• Exchange or provide information
• Obtain, clarify, and discuss information
• Present, discuss information and problems
• Collaborate, negotiate, and present ideas
• Deal with, influence, or motivate subordinates
• Promote, justify, or settle highly sensitive matters.