Account Payable at Grace Lake Partners

Grace Lake Partners (GLP) – Founded in 2014, is a Pan-African conglomerate operating out of Lagos, Nigeria. Based on the philosophy of Creating Shared Value, GLP builds and operates tech-enabled profitable businesses that address important socio-economic needs across Africa whilst also creating economic value for the company and its shareholders. GLP’s core mission is to “Build an Africa we can all be proud of”, and to date, the company has made strategic investments in infrastructure, healthcare, media, transportation, and retail.

We are recruiting to fill the position below:

Job Title: Account Payable

Location: Lagos

About the Role

Grace Lake Partners is looking for an experienced professional with a strong financial acumen and an entrepreneurial attitude to be the Account Payable Accountant, reporting to the Senior Financial Accountant. As a proven result-driven person, the Account Payable Accountant will be responsible for inventory and invoicing management.
In this role, you will dig deep into the accounting system that makes the organization more efficient, effective, and productive. If you’ve got an analytical mind, some big ideas, and an uncanny knack for forecasting, this is the role for you!

The Opportunity

We are looking for an Account Payable Accountant to manage projects, tasks, and deliverables within our Finance & Accounting team and be a representative and ambassador for the team across the company as well as to external stakeholders.
The ideal candidate for the role will be someone who is an accounting expert and who also has deep knowledge in inventory and variance reporting, budgeting and forecasting.

What You’ll Be Doing

Capturing, processing, and reconciling invoices/ payment requests in line with the company’s policies and procedures
Developing inventory analysis reports and analyze variances
Verifying accurate standard costs and monitor inventory transactions
Assisting in the improvement of internal controls related to inventory and accounts payable

Payables Processing:

Receiving and registering all invoices and ensuring accuracy and completeness of invoice details.
Reviewing invoices and supporting documents and ensure all appropriate approvals have been received.
Checking invoices for adequacy of budget cover, validity of expense claim, and relevant supporting documents.
Matching supplier invoices to purchase orders and goods/service received notes prior to processing.
Recomputing invoice details, VAT to ensure arithmetic accuracy
Capturing invoice details into the accounting system and ensure accuracy of VAT/ WHT details
Verifying invoice payment date to ensure alignment with company’s policies
Ensuring all invoices align with the company’s policies with regards to credit dates, advance payments.
Receiving and handle suppliers’ inquiries regarding payment processing and ensure that all supplier queries on invoice processing status are promptly resolved
Liaising with vendors to resolve issues with invoices
Liaising with the relevant department to resolve invoice queries/ issues and escalate to the Senior Financial Accountant
Maintaining an accurate and up-to-date record of all invoices received
Examining invoice registration records periodically to ensure all invoices are promptly captured
Preparing invoices schedule for cash forecasting activities
Maintaining accounting ledgers by posting account transactions accurately
Preparing monthly reconciliation of accounts payable ledger to vendor sub-ledgers.
Conducting ageing analysis and compile reports on outstanding payments over a stipulated period and follow up with Senior Financial Accountant to ensure payment
Supplying relevant information and documents that relate to CAPEX to the AR/Fixed Assets Accountant

Inventory Management:

Ensuring effective and correct receiving/storage/issuing of inventory items
Ensuring the effectiveness of controls around inventory movement
Ensuring daily circulation of stock updates, prompt preparation of weekly and monthly inventory/variance reports
Ensuring the implementation of inventory valuation method adopted by management
Coordinating, planning, and supervising the periodic stock count exercise at each outlet.
Performing daily documentation of raw/packaging materials and consumable inventories transactions
Providing audit support during year end audit exercise
Ensuring timely processing and posting of transactions on accounting system and suppliers’ payment processing
Performing any other duties that may be assigned by the Senior Financial Accountant

Requirements
What You will need for this position:

First degree or equivalent in a numerate discipline
Qualified in a recognised professional accounting scheme (ICAN, ACCA, CIMA, CPA, etc.)
Minimum of three (3) years relevant experience in invoice processing in a manufacturing company
Demonstrate a good understanding of database and supply chain management systems
Ability to multitask and function effectively under pressure
A Good understanding of accounting principles in relation to inventory
A Good understanding of transactional taxes (e.g. WHT, VAT etc)
Candidates must possess good verbal and written communication skills
Good level of attention to details
Candidates must be proficient in the use of Microsoft office tools
Candidates must possess high moral standards, integrity and honesty.

KPIs that will be measured after you start:

Timeliness and accuracy of invoice processing
Accuracy and completeness of invoice records
Accuracy and timeliness of accounts payable ledger reconciliation
Accuracy and completeness of inventory records
Accuracy of stock and inventory counts
Compliance with inventory turnover days, re-order volume, economic order quantities, holding cost, and lead time as set by the management.

Who You’ll Be Working with: