INVENTORY ACCOUNTANT

INVENTORY ACCOUNTANT

Job Title: Inventory Accountant

Job Summary

The Inventory Accountant is responsible for accurate accounting, valuation, control, and reconciliation of inventory across raw materials, consumables, work-in-process (WIP), by-products, finished goods, and spares in a continuous sugar refinery environment. The role ensures inventory integrity in SAP, compliance with accounting standards, and close coordination between operations, stores, production, and finance.

Key Responsibilities

Inventory Accounting & Control

• Maintain accurate inventory records for raw sugar, chemicals, consumables, packaging, WIP, finished goods (sugar, molasses, by-products), and engineering spares.
• Ensure correct valuation of inventory in line with company policy and accounting standards (FIFO / Weighted Average).
• Monitor and analyze inventory movements, adjustments, and consumption trends.
• Investigate variances, shortages, and excess stock.

SAP Operations & Data Integrity

• Ensure all material movements are correctly posted in SAP (GR, GI, transfers, consumption, production postings).
• Reconcile SAP inventory balances with physical stock and general ledger.
• Support month-end and year-end closing activities related to inventory.
• Resolve posting errors, incorrect valuations, and master data issues.

Physical Stock Verification

• Plan and conduct periodic stock counts (daily/weekly/monthly cycle counts).
• Participate in annual physical inventory and surprise checks.
• Investigate discrepancies and prepare variance reports with root cause analysis.

Costing & Production Support

• Support process costing for continuous sugar manufacturing.
• Analyze material consumption vs. standard norms and highlight abnormal losses.
• Monitor process losses, wastage, and recoveries specific to sugar refining.

Reporting & Compliance

• Prepare inventory reconciliation statements, aging analysis, and reports on slow-moving/obsolete inventory.
• Ensure compliance with internal controls, audit requirements, and statutory regulations.
• Provide inventory-related data for internal and external audits.

Coordination & Communication

• Work closely with stores, production, procurement, and finance teams.
• Act as the finance point of contact for inventory and material management matters.

Qualifications & Experience

• B.Sc. in Accounting, Finance, or Commerce (Professional certification such as ACA / ACCA preferred).
• 3–7 years of experience in inventory accounting in manufacturing (preferably Sugar Industry, FMCG, or continuous process manufacturing).
• Hands-on experience with SAP MM, PP, CO & FI modules.
• Strong understanding of inventory accounting and costing principles.

Skills & Competencies

• Excellent analytical and reconciliation skills with strong attention to detail.
• Ability to work under pressure in continuous operations.
• Knowledge of manufacturing flows in 24/7 operations.
• Familiarity with by-product accounting (molasses, bagasse) and process losses/yield analysis.
• Strong communication and cross-functional coordination skills.

Personal Attributes

• Integrity and professionalism.
• Problem-solving mindset and ability to work independently.
• Resilience and adaptability in a fast-paced environment.

Job Title: Inventory Accountant

Job Summary

The Inventory Accountant is responsible for accurate accounting, valuation, control, and reconciliation of inventory across raw materials, consumables, work-in-process (WIP), by-products, finished goods, and spares in a continuous sugar refinery environment. The role ensures inventory integrity in SAP, compliance with accounting standards, and close coordination between operations, stores, production, and finance.

Key Responsibilities

Inventory Accounting & Control

• Maintain accurate inventory records for raw sugar, chemicals, consumables, packaging, WIP, finished goods (sugar, molasses, by-products), and engineering spares.
• Ensure correct valuation of inventory in line with company policy and accounting standards (FIFO / Weighted Average).
• Monitor and analyze inventory movements, adjustments, and consumption trends.
• Investigate variances, shortages, and excess stock.

SAP Operations & Data Integrity

• Ensure all material movements are correctly posted in SAP (GR, GI, transfers, consumption, production postings).
• Reconcile SAP inventory balances with physical stock and general ledger.
• Support month-end and year-end closing activities related to inventory.
• Resolve posting errors, incorrect valuations, and master data issues.

Physical Stock Verification

• Plan and conduct periodic stock counts (daily/weekly/monthly cycle counts).
• Participate in annual physical inventory and surprise checks.
• Investigate discrepancies and prepare variance reports with root cause analysis.

Costing & Production Support

• Support process costing for continuous sugar manufacturing.
• Analyze material consumption vs. standard norms and highlight abnormal losses.
• Monitor process losses, wastage, and recoveries specific to sugar refining.

Reporting & Compliance

• Prepare inventory reconciliation statements, aging analysis, and reports on slow-moving/obsolete inventory.
• Ensure compliance with internal controls, audit requirements, and statutory regulations.
• Provide inventory-related data for internal and external audits.

Coordination & Communication

• Work closely with stores, production, procurement, and finance teams.
• Act as the finance point of contact for inventory and material management matters.

Qualifications & Experience

• B.Sc. in Accounting, Finance, or Commerce (Professional certification such as ACA / ACCA preferred).
• 3–7 years of experience in inventory accounting in manufacturing (preferably Sugar Industry, FMCG, or continuous process manufacturing).
• Hands-on experience with SAP MM, PP, CO & FI modules.
• Strong understanding of inventory accounting and costing principles.

Skills & Competencies

• Excellent analytical and reconciliation skills with strong attention to detail.
• Ability to work under pressure in continuous operations.
• Knowledge of manufacturing flows in 24/7 operations.
• Familiarity with by-product accounting (molasses, bagasse) and process losses/yield analysis.
• Strong communication and cross-functional coordination skills.

Personal Attributes

• Integrity and professionalism.
• Problem-solving mindset and ability to work independently.
• Resilience and adaptability in a fast-paced environment.