Inventory Account Officer at Brands and Trade Limited

Job Summary:

The Inventory Account Officer is responsible for managing and reconciling the financial aspects of inventory records. This includes ensuring that all inventory movements are accurately recorded and that stock balances remain consistent between the physical warehouse and the accounting system. The officer will work closely with warehouse, supply chain, sales, and finance teams to ensure seamless inventory flow, accurate reporting, and full compliance with company policy. The role also involves processing invoices, managing accounts payable/receivable, and maintaining accurate financial records.

Key Responsibilities:

Inventory Accounting & Reporting

• Maintain accurate records of inventory transactions in the accounting system.
• Monitor and reconcile stock balances between physical count and ERP/manual records.
• Track inventory inflows and outflows (purchases, transfers, sales, returns, wastage).
• Prepare and submit periodic inventory reports (daily, weekly, monthly).
• Post journal entries for inventory adjustments, write-offs, and transfers.

 Stock Control & Reconciliation

• Participate in physical stock counts and random spot checks.
• Reconcile stock variances between system and physical counts.
• Investigate and resolve discrepancies in coordination with relevant departments.
• Ensure accurate stock valuation based on FIFO, LIFO, or Weighted Average methods.

 Internal Controls & Compliance

• Ensure inventory transactions are properly documented (e.g., requisition forms, GRNs).
• Implement and enforce internal controls to prevent stock loss, theft, or misreporting.
• Maintain compliance with inventory policies and accounting standards.

 Interdepartmental Coordination

• Collaborate with warehouse and logistics teams to verify and document stock movement.
• Liaise with sales and operations teams to confirm product availability and resolve stock issues.

Audit & Documentation

• Prepare inventory schedules and reports for internal and external audits.
• Support audit teams with required documentation and data.
• Maintain a well-organized archive of inventory and financial records.

Key Requirements:

• Education: B.Sc. / HND in Accounting, Finance, Business Administration, or a related field.
• Experience: 0–4 years in inventory, accounting, or finance roles (preferably within FMCG).

Technical Skills:

• Proficiency in Microsoft Excel (including Pivot Tables, VLOOKUP, etc.).
• Experience with ERP/inventory software (e.g., Online QuickBooks, SAP).
• Solid understanding of accounting principles related to inventory.

Soft Skills:

• Strong attention to detail and numerical accuracy.
• Analytical and problem-solving skills.
• Excellent communication and organization.
• Ability to prioritize tasks and meet deadlines in a fast-paced environment.

Key Performance Indicators (KPIs):

• Accuracy of inventory records (physical vs. system).
• Timeliness and completeness of monthly reconciliations.
• Number of discrepancies identified and resolved.
• Readiness and accuracy of audit reports.
• Reduction in inventory losses and shrinkage.