Inventory & Cost Control Accountant
Department: Finance & Accounting
Reports To: Finance Manager or Chief Accountant
Position Summary
The Inventory & Cost Control Accountant is a pivotal role responsible for the integrity and accuracy of all inventory-related transactions and reporting across our restaurant branches and central warehouse. This position ensures that inventory levels are accurately reflected, valued correctly, and that all movements are properly documented in compliance with company policies. By providing detailed analysis of the Cost of Goods Sold (COGS) and inventory valuation, this role directly supports strategic decision-making to control costs and enhance profitability.
Key Responsibilities
Inventory Accounting & Reconciliation:
- Oversee the entire inventory accounting cycle, including recording of purchases, issues, returns, and waste/spoilage.
- Perform daily, weekly, and monthly reconciliation of inventory balances between the central system (e.g., Foodics) and the general ledger (SAP/Oracle).
- Investigate and resolve discrepancies in inventory counts and valuations in a timely manner.
- Prepare and post all necessary inventory-related journal entries (accruals, adjustments, etc.).
Stock Count & Valuation:
- Plan, coordinate, and execute periodic cycle counts and comprehensive physical stock counts across all branches and the central warehouse.
- Analyze count variances, identify root causes (e.g., theft, waste, receiving errors), and recommend corrective actions.
- Ensure accurate inventory valuation using the appropriate accounting method (FIFO, Weighted Average, etc.).
- Maintain the integrity of item master data, including cost prices and item codes, within the inventory system.
Reporting & Analysis:
- Prepare and distribute accurate and timely weekly/monthly COGS reports, detailing costs by branch, category, and menu item.
- Generate monthly inventory valuation and aging reports for management.
- Analyze inventory turnover ratios, gross margin fluctuations, and potential areas of cost savings.
- Monitor portion control and recipe costing to identify deviations from standards.
Compliance & Process Improvement:
- Ensure strict adherence to company accounting policies, internal controls, and purchasing procedures.
- Develop and document robust inventory control processes and best practices.
- Collaborate with internal and external auditors during financial and operational audits, providing all required inventory-related support.
- Identify opportunities for system and process improvements to enhance efficiency and accuracy.
Cross-Functional Collaboration:
- Work closely with the Purchasing Department to validate purchase orders, monitor pricing, and reconcile supplier statements.
- Partner with Warehouse Operations to ensure accurate receiving, storage, and issuance of goods.
- Liaise with Restaurant Operations/Branch Managers to address inventory issues, train staff on proper procedures, and promote a culture of cost awareness.
Qualifications & Experience
- Bachelor’s degree in Accounting, Finance, or a related field.
- Proven experience (3+ years) in an inventory accounting, cost accounting, or similar role, preferably within the restaurant, hospitality, or FMCG industries.
- Professional accounting certification (e.g., CPA, CMA, ACCA) or progress towards one is a strong advantage.
Technical Skills & Knowledge
- Required: Strong proficiency and hands-on experience with inventory management systems. Specific experience with Foodics is highly desirable.
- Required: Strong proficiency with major ERP systems such as SAP or Oracle. Advanced skills in Microsoft Excel (PivotTables, VLOOKUPs, etc.) are essential.
- In-depth understanding of accounting principles, inventory valuation methods (FIFO), and cost accounting concepts.
- Solid knowledge of internal controls related to inventory and purchasing.
Personal Competencies
- Meticulous Attention to Detail: Unwavering commitment to accuracy and data integrity.
- Strong Analytical & Problem-Solving Skills: Ability to analyze complex data, identify trends, and resolve discrepancies effectively.
- Excellent Communication & Interpersonal Skills: Ability to collaborate effectively with both finance and non-finance personnel across the organization.
- High Level of Integrity: Ethical and trustworthy with confidential financial information.
- Proactive & Self-Motivated: A self-starter who can manage multiple priorities and meet deadlines in a fast-paced environment.
- Organized & Methodical: Strong organizational and time management skills.
