Jobs at Kloverharris Limited

Job Description

• The Inventory Accountant is responsible for overseeing the financial and accounting aspects of inventory management, including tracking inventory costs, ensuring accurate inventory valuation, and supporting financial reporting processes. This role is critical to ensure that inventory records align with actual physical counts and comply with accounting standards and company policies. The Inventory Accountant will work closely with the operations, procurement, and finance teams to ensure efficient inventory control and financial integrity in an alcoholic beverage company.

Responsibilities
Inventory Tracking & Reconciliation:

• Maintain accurate and up-to-date inventory records for all raw materials, work-in-progress, finished goods, and packaging materials.
• Reconcile inventory balances in the general ledger with physical inventory counts, ensuring discrepancies are identified and resolved in a timely manner.
• Ensure that inventory movements (purchases, transfers, sales, wastage, returns) are properly recorded in the company’s accounting systems.
• Perform periodic inventory counts, including quarterly and year-end physical counts, and assist with the preparation of year-end audits.
• Ensure the accuracy of inventory records by investigating variances and reporting on the status of inventory discrepancies to management.

Cost Accounting & Inventory Valuation:

• Calculate the cost of goods sold (COGS) for inventory, including raw materials, work-in-progress, and finished goods, using appropriate cost methods such as FIFO (First-In-First-Out), LIFO (Last-In-First-Out), or weighted average.
• Assist with the preparation of standard costing models and analyze cost variances between actual and standard costs, providing explanations for discrepancies.
• Ensure accurate inventory valuation in compliance with accounting principles, such as GAAP (Generally Accepted Accounting Principles) or IFRS (International Financial Reporting Standards), ensuring the company’s balance sheet accurately reflects inventory.
• Work with the procurement and supply chain teams to calculate the true cost of inventory items, including direct and indirect costs, and incorporate them into the financial reporting system.
• Review and update inventory pricing regularly to ensure costs are accurately reflected, and assist in the analysis of product margin performance.

Financial Reporting & Analysis:

• Assist in preparing monthly, quarterly, and annual financial statements, specifically focusing on inventory-related reports, such as COGS, gross profit, and inventory turnover.
• Prepare and analyze detailed reports on inventory performance, including inventory aging reports, stock turns, and inventory write-offs, and present findings to management.
• Collaborate with the finance team to ensure the correct application of accounting principles and inventory valuation methods in financial statements.
• Assist in the preparation of forecasts and budgets, providing input on inventory-related cost drivers, and analyzing the impact of inventory changes on profitability.
• Provide support during external audits, especially regarding inventory-related balances and documentation, ensuring transparency and accuracy in all audit findings.

Internal Controls & Compliance:

• Ensure compliance with internal controls related to inventory management, including adherence to company policies and industry regulations.
• Monitor and enforce inventory control procedures to prevent loss, theft, and mismanagement of inventory assets.
• Review and verify inventory transactions, including purchase orders, sales orders, and stock movements, to ensure that all inventory records are accurate and complete.
• Conduct periodic spot checks and cycle counts to verify that inventory data is correct and investigate discrepancies between physical counts and system records.
• Ensure that inventory handling practices and valuation methods align with applicable tax and regulatory requirements, particularly in the alcoholic beverage industry, which may involve excise taxes and product classifications.

Collaboration with Cross-Functional Teams:

• Work closely with the operations, procurement, and supply chain teams to ensure that inventory is appropriately managed, and to address issues related to stock levels, pricing, and delivery schedules.
• Partner with the sales team to track product sales trends and manage product replenishment, ensuring that inventory levels are aligned with customer demand and minimizing the risk of stockouts or overstock situations.
• Support the purchasing department in analyzing inventory purchase orders, lead times, and supplier costs to ensure that inventory procurement strategies are cost-effective and efficient.
• Collaborate with the production team to understand production schedules, product consumption, and materials management, ensuring that the flow of materials and finished goods is appropriately accounted for.

Inventory Optimization & Process Improvement:

• Recommend and implement improvements in inventory management processes to enhance accuracy, reduce costs, and improve inventory turnover.
• Work with the supply chain team to streamline inventory processes, identify bottlenecks, and recommend solutions for optimizing stock levels and reducing excess inventory.
• Assist in the development and implementation of strategies to manage slow-moving or obsolete inventory, including conducting periodic reviews and write-offs.
• Support the automation and integration of inventory management systems, ensuring that software tools and data flow seamlessly across all business functions.
• Analyze data to recommend actions for minimizing inventory shrinkage, improving cycle times, and enhancing working capital management.

Inventory Audits & Documentation:

• Assist with the planning and execution of internal audits related to inventory controls, ensuring that all inventory records are accurate and properly documented.
• Maintain up-to-date documentation for inventory processes and controls, including procedures for stocktaking, inventory reconciliations, and reporting.
• Support the preparation of inventory reports and summaries required for audit purposes, including documentation of adjustments, write-offs, and any discrepancies found during audits.
• Participate in preparing audit responses related to inventory and address any issues or questions raised by internal or external auditors.

Qualifications

• Bachelor’s degree in Accounting, Finance, Business Administration, or a related field (required).
• Additional certifications, such as Certified Management Accountant (CMA), or Certified Public Accountant (CPA), are a plus.
• Minimum of 4-6years of experience in inventory accounting, cost accounting, or financial reporting, preferably within the alcoholic beverage or FMCG industry.
• Strong knowledge of inventory management systems, accounting software (e.g., SAP, Oracle, QuickBooks), and ERP systems.
• Experience with inventory control procedures, reconciliation processes, and cost analysis techniques.
• Familiarity with accounting standards (GAAP or IFRS), financial reporting, and inventory-related financial disclosures.
• Experience working in a cross-functional environment, collaborating with procurement, operations, and sales teams.

Skills:

• Strong analytical and problem-solving skills, with the ability to assess complex inventory-related issues and recommend practical solutions.
• Attention to detail and accuracy in financial reporting, accounting procedures, and inventory documentation.
• Excellent organizational and time-management skills, with the ability to manage multiple tasks and meet deadlines.
• Ability to work independently and as part of a team, with strong interpersonal skills to interact with various departments and senior management.
• Proficiency in Microsoft Excel and other financial analysis tools, including advanced functions and pivot tables.
• Strong communication skills, with the ability to present complex data in a clear and understandable manner.

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Job Summary

• The Receivable Accountant is responsible for managing the company’s accounts receivable processes, including customer invoicing, collections, credit management, and ensuring the timely and accurate recording of revenue.
• This role plays a key part in maintaining the company’s cash flow, reducing overdue balances, and ensuring compliance with company policies and accounting standards.
• The Receivable Accountant will work closely with the sales, customer service, and finance teams to ensure that all accounts receivable transactions are properly recorded and managed.

Key Responsibilities
Accounts Receivable Management:

• Oversee and manage the company’s accounts receivable portfolio, ensuring that all customer invoices are generated, recorded, and collected in a timely manner.
• Ensure the accuracy of invoicing, including verification of pricing, discounts, and taxes, based on customer agreements and contracts.
• Monitor accounts receivable aging reports to identify overdue accounts and ensure that they are addressed promptly.
• Manage the reconciliation of customer accounts to ensure all transactions, including payments, credits, and adjustments, are recorded accurately and reflect the correct outstanding balance.

Invoicing & Billing:

• Generate and send accurate invoices to customers based on sales orders, delivery confirmations, and contractual agreements.
• Ensure invoices are issued within the agreed-upon terms and in compliance with the company’s pricing and billing policies.
• Address and resolve any billing discrepancies or customer queries related to invoices, payments, or pricing in collaboration with the sales and customer service teams.
• Work with the sales team to ensure that all customer orders are properly documented and billed, including large or complex orders for key accounts.
• Perform periodic checks on customer credit terms and ensure that any special billing arrangements are accurately applied.

Credit Management & Collections:

• Evaluate and assess the creditworthiness of new and existing customers in collaboration with the sales and credit teams, ensuring that appropriate credit limits are set.
• Review and approve customer credit limits, taking into account historical payment behavior and the financial health of the customer.
• Actively follow up on overdue accounts, contacting customers via phone, email, or written communication to arrange for payments.
• Work with customers to resolve disputes or payment delays, including negotiating payment plans or settlement options when appropriate.
• Collaborate with the sales and legal departments to address any significant or ongoing collections issues, and escalate unresolved matters to senior management.
• Maintain accurate records of all collections activities, ensuring that customer communications are documented and updated in the company’s systems.

Reconciliation & Reporting:

• Perform regular reconciliations of accounts receivable balances to the general ledger, ensuring that all transactions are properly accounted for.
• Assist in the preparation of monthly, quarterly, and annual financial reports related to accounts receivable, including bad debt provisions, aging analysis, and cash flow forecasts.
• Provide insights and analysis on accounts receivable performance, including trends in collection periods, overdue accounts, and the overall health of the company’s receivables.
• Prepare and maintain reports on account status, including aging reports, customer payments, and collections metrics, for senior management and auditors.
• Assist in the preparation of year-end financial audits by providing documentation and support related to accounts receivable balances.

Cash Application & Payment Processing:

• Oversee the accurate application of customer payments to the appropriate accounts, ensuring that payments are recorded in a timely and accurate manner.
• Verify that all incoming payments (checks, wire transfers, ACH, credit card) are processed in accordance with company procedures, and ensure that cash receipts are deposited correctly.
• Investigate and resolve any discrepancies between payments and invoices, coordinating with customers and internal teams to clear up issues.
• Ensure that payments are applied to the correct invoices and that any unapplied cash is promptly addressed.

Internal Controls & Compliance:

• Ensure compliance with company policies, internal controls, and accounting standards in relation to accounts receivable processes.
• Implement and maintain internal control procedures to ensure the integrity of the accounts receivable function, including proper segregation of duties, authorization of credit limits, and adherence to company policies.
• Work closely with the finance and audit teams to ensure that accounts receivable transactions are fully compliant with industry regulations and accounting standards (e.g., GAAP, IFRS).
• Assist in the review and improvement of accounts receivable processes and controls to streamline workflows and increase efficiency.

Customer Relationship Management:

• Foster positive relationships with key customers to encourage timely payments and resolve any payment-related issues in a professional manner.
• Provide customer support on billing issues, payment inquiries, and account disputes, collaborating with internal teams as needed to resolve customer concerns.
• Work with the customer service team to resolve order discrepancies, payment delays, and credit issues to maintain smooth customer relations.

Bad Debt & Write-offs:

• Monitor overdue accounts and determine the appropriate course of action to minimize bad debt exposure.
• Collaborate with management to identify accounts that require write-offs and provide recommendations based on the collection history and customer status.
• Review the provision for bad debts, ensuring it is accurate and reflects the true collectability of outstanding balances.
• Keep track of accounts that may be at risk of becoming uncollectible, and work to mitigate these risks by actively pursuing collection efforts.

Qualifications & Skills
Education:

• Bachelor's Degree in Accounting, Finance, Business Administration, or a related field (required).
• Additional certifications, such as Certified Public Accountant (CPA) or Certified Management Accountant (CMA), are a plus.

Experience:

• Minimum of 4-6 years of experience in accounts receivable, credit management, or financial accounting, preferably in the alcoholic beverage or FMCG industry.
• Proven experience in managing invoicing, collections, and account reconciliations.
• Familiarity with the company’s invoicing and ERP systems (e.g., SAP, Oracle, QuickBooks) is a plus.
• Experience working with cross-functional teams, including sales, customer service, and finance departments.

Skills:

• Strong organizational skills and attention to detail, with the ability to manage large volumes of transactions and data.
• Excellent communication and interpersonal skills, with the ability to engage with customers and internal teams to resolve issues.
• Ability to analyze and interpret accounts receivable data, customer credit risk, and aging reports.
• Proficiency in Microsoft Excel and other accounting or financial software.
• Ability to work independently, prioritize tasks, and manage time effectively to meet deadlines.
• Problem-solving skills, with the ability to address complex customer disputes and payment issues.
• A strong understanding of accounting principles, including revenue recognition, cash flow management, and credit control procedures.

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Job Summary

• The Audit Officer is responsible for supporting the company’s internal audit function by assessing and evaluating the effectiveness of internal controls, risk management processes, and compliance with legal and regulatory requirements.
• This role will assist in the execution of audit plans, perform risk assessments, and provide recommendations to improve internal processes, controls, and overall financial integrity.
• The Audit Officer will ensure that company operations comply with financial policies, corporate governance standards, and industry regulations, especially in the highly regulated alcoholic beverage industry.

Key Responsibilities
Internal Audit Planning & Execution:

• Assist in the development and execution of the internal audit plan, ensuring that audits are aligned with the company’s risk management framework and key business objectives.
• Conduct audits of financial, operational, and compliance processes across various functions (e.g., finance, procurement, sales, inventory) to assess the adequacy and effectiveness of internal controls.
• Plan and execute detailed audits based on risk assessments, including defining audit scope, objectives, and procedures.
• Perform audits in accordance with established audit methodologies and regulatory standards, ensuring the audit process is efficient, objective, and thorough.
• Conduct audits of business units, subsidiaries, and third-party operations, including local and international operations, in line with the company’s global footprint.

Risk Assessment & Control Evaluation:

• Identify and assess potential risks within business processes, systems, and operations to ensure that the company is effectively managing its risk exposure.
• Evaluate internal control structures to ensure compliance with corporate policies, industry standards, and regulatory requirements, particularly in relation to financial reporting and tax obligations in the alcoholic beverage sector.
• Review financial reporting processes to identify gaps, discrepancies, or areas of concern, making recommendations for improvement.
• Assess the implementation and effectiveness of the company’s risk management strategies and recommend improvements to mitigate financial, operational, and compliance risks.

Compliance & Regulatory Review:

• Monitor and review company compliance with internal policies, procedures, and industry-specific regulations (such as alcohol-related regulations, tax laws, and environmental standards).
• Ensure the company’s operations adhere to legal and regulatory requirements, including local and international laws related to the alcoholic beverage industry (e.g., excise duties, product labeling, marketing restrictions).
• Assist in reviewing the company’s compliance with international accounting standards (e.g., IFRS, GAAP) and ensure proper documentation and disclosures are maintained.
• Conduct audits of import/export activities to ensure compliance with customs regulations, as well as other industry-specific regulations related to alcoholic beverages.

Audit Reporting & Documentation:

• Prepare and present detailed audit reports that clearly document audit findings, risks, and control weaknesses, along with practical recommendations for corrective actions.
• Communicate audit results to senior management, finance, and department heads, highlighting significant issues and the associated risks.
• Maintain a comprehensive record of audit work, including audit programs, working papers, and findings, to ensure transparency and traceability.
• Follow up on audit recommendations to ensure that corrective actions are implemented effectively and in a timely manner.

Internal Control Improvement:

• Work with management to improve internal control systems, proposing enhancements to policies and procedures to ensure operational efficiency and compliance with regulations.
• Review and assess existing internal control processes, identifying areas of weakness and suggesting improvements or redesigns where necessary.
• Provide guidance on best practices for internal controls, helping departments streamline processes and mitigate risks.
• Assist in the development of internal control frameworks and procedures to strengthen operational controls and safeguard company assets.

Fraud Detection & Prevention:

• Conduct regular assessments to detect potential fraud, financial misstatements, or unethical practices within the organization.
• Investigate suspicious activities and transactions, ensuring that appropriate corrective actions are taken.
• Provide input and assistance in designing fraud prevention and detection programs to strengthen the company’s internal controls and minimize financial or reputational risks.

Special Projects & Ad-Hoc Audits:

• Participate in special projects or investigations as requested by senior management, such as analyzing specific business processes, resolving compliance concerns, or addressing high-risk issues.
• Perform ad-hoc audits or reviews of areas of concern, including the company’s systems, security, or high-risk transactions.
• Evaluate and audit major capital expenditures, acquisitions, and new ventures to assess potential risks, operational impact, and financial integrity.

Training & Knowledge Development:

• Assist in the training and development of staff and management on compliance, internal controls, risk management, and audit-related matters.
• Stay up to date with industry trends, changes in regulations, and emerging risks that could affect the company’s internal controls or business operations.
• Continuously improve knowledge of auditing standards, best practices, and the regulatory environment in which the alcoholic beverage industry operates.

Collaboration with External Auditors & Other Departments:

• Collaborate with external auditors to ensure the efficient completion of year-end audits, as well as the timely resolution of audit findings.
• Work closely with the finance, legal, and compliance departments to ensure that auditing processes align with organizational goals and regulatory requirements.
• Provide support during external audits, responding to audit queries and facilitating the delivery of necessary documents and information.

Qualifications & Skills
Education:

• Bachelor's Degree in Accounting, Finance, Business Administration, or a related field (required).
• Certified Internal Auditor (CIA), Certified Public Accountant (CPA), or similar professional certification (preferred).
• Master’s degree or other relevant qualifications (preferred).

Experience:

• Minimum of 4–6 years of experience in internal audit, accounting, or compliance, preferably in the alcoholic beverage, manufacturing, or FMCG industry.
• Strong understanding of audit processes, risk management frameworks, and internal control systems.
• Knowledge of industry regulations and standards, particularly in the alcoholic beverage sector, including tax regulations, customs, and product compliance.
• Experience with financial audits, operational audits, compliance audits, and fraud investigations.
• Familiarity with audit software, ERP systems, and data analytics tools (e.g., SAP, ACL, IDEA) is an advantage.

Skills:

• Strong analytical and critical thinking skills, with the ability to identify risks and provide actionable recommendations.
• Excellent communication skills, both written and verbal, with the ability to present complex audit findings to senior management and non-financial stakeholders.
• Attention to detail and accuracy in audit procedures, reporting, and documentation.
• High level of integrity and professionalism, with a strong understanding of ethical standards in auditing and financial reporting.
• Ability to work independently and manage multiple priorities in a fast-paced, dynamic environment.
• Strong organizational skills and the ability to handle confidential information with discretion.