Inventory Accountant at Persianas Retail Limited

Job Description

• We are looking for a strong Inventory Accountant whose responsibilities would include managing and reconciling inventory records, conducting regular audits to ensure accuracy, analyzing cost variances, preparing financial reports, and collaborating with other departments to optimize our inventory processes.
• Additionally, s/he would play a crucial role in identifying and addressing discrepancies, implementing inventory control procedures, and supporting financial decision-making related to inventory management.

Responsibilities

• Maintain precise records of all inventory transactions, including purchases, returns, and adjustments.
• Regularly reconcile physical inventory counts with system records to identify and address discrepancies promptly.
• Conduct routine audits to ensure accuracy in inventory records and compliance with accounting principles.
• Analyse inventory costs, including valuation, and collaborate with relevant teams to optimize stock levels and minimize carrying costs.
• Monitor inventory levels to ensure they are within acceptable ranges.
• Prepare detailed and accurate financial reports related to inventory, providing insights into costs, trends, and variances.
• Work closely with cross-functional teams, such as buying & merchandise planning, logistics, and finance, to streamline processes and enhance overall inventory management.
• Review purchase orders for accuracy and ensure that they have been approved by the appropriate department manager.
• Identify and resolve discrepancies promptly, implementing corrective actions to prevent future issues.
• Ensure adherence to accounting standards, company policies, and regulatory requirements in all inventory-related activities.
• Verify inventory counts and record adjustments to inventory levels for items that have been used, damaged, or lost.
• Continuously evaluate and enhance inventory control procedures to improve accuracy, efficiency, and overall financial performance.
• Provide data and insights to support inventory forecasting, aiding in strategic decision-making for procurement and sales planning.
• Ensure that all inventory transaction details are recorded accurately in an accounting system.
• Report on inventory levels, costs, and turnover rates to management.
• Perform any other relevant duties required by management

Qualifications

• Bachelor's Degree in Accounting, Finance, or a related field.
• A minimum of 2 years of relevant experience in the retail industry.
• Experience with inventory management software and procedures.
• Proficient use of Microsoft Office and tools
• Strong analytical and reporting skills

Skills:

• General knowledge of the retail environment.
• Readiness and ability to travel within Nigeria.
• Conduct data analysis to track inventory levels, sales, and other business data.
• Critical thinking and problem-solving skills.
• Must be able to work well under pressure, as they may be required to meet deadlines.
• Must be able to pay close attention to detail and be able to work independently.