1. Job Purpose
The Assistant Accountant – Inventory & Fixed Assets is responsible for supporting the Finance and Operations teams by ensuring accurate recording, valuation, reconciliation, and reporting of all stock-related and fixed asset transactions. The role ensures compliance with IFRS (IAS 2 – Inventories, IAS 16 – Property, Plant & Equipment), internal controls, and company policies, while contributing to the accuracy of financial reporting and safeguarding of company assets.
2. Key Responsibilities
A. Inventory Accounting & Control
- Maintain accurate inventory records and ensure timely posting of GRNs, supplier invoices, credit notes, and stock adjustments.
- Perform daily, weekly, and monthly inventory reconciliations between system records (DEAR/CIN7, Sage, Xero, SAP, etc.) and physical counts.
- Investigate and resolve stock variances in collaboration with warehouse supervisors and operations teams.
- Monitor correct costing and valuation in line with IAS 2 (FIFO/Average Cost).
- Review and update product costings, landed cost allocations, and branch-to-branch stock transfers.
B. Stock Management & Internal Controls
- Coordinate and support monthly, quarterly, and annual stock counts across depots and branches.
- Maintain strong internal controls over stock movements, including issues, receipts, returns, transfers, and assemblies.
- Review stock adjustment requests for accuracy and authorization before posting.
- Identify slow-moving, obsolete, or damaged stock and prepare impairment schedules.
- Ensure proper filing of supporting stock documents (GRNs, delivery notes, transfer notes, assembly journals).
C. Fixed Asset Register Maintenance & Management
- Maintain and update the Fixed Asset Register (FAR) in line with IAS 16 and company policy.
- Record all asset acquisitions, disposals, transfers, write-offs, and revaluations.
- Ensure proper tagging, coding, and classification of fixed assets (vehicles, machinery, tools, IT equipment, irrigation systems, etc.).
- Perform periodic physical verification of fixed assets across all sites and reconcile to the FAR.
- Calculate and post monthly depreciation journals accurately.
- Track capital expenditure (CAPEX), ensure correct capitalization vs expensing, and prepare supporting documentation.
- Prepare fixed asset schedules required for year-end audits and coordinate with auditors.
- Ensure compliance with insurance requirements by keeping an up-to-date asset list for GIT, fire, theft, and general policies.
D. Procurement & Supplier Support
- Assist in matching supplier delivery notes, GRNs, and invoices.
- Perform supplier statement reconciliations and assist in resolving discrepancies.
- Support processing of supplier claims, returns, price corrections, and credit notes.
E. Reporting & Month-End Close
- Prepare inventory valuation reports, variance analysis, ageing of slow-moving stock, and branch stock performance summaries.
- Prepare monthly fixed asset reports, depreciation schedules, and CAPEX tracking sheets.
- Support month-end cut-off procedures for stock and fixed assets.
- Prepare audit schedules for internal and external auditors.
F. Systems & Compliance
- Maintain accurate data in inventory and fixed asset modules of the ERP/Accounting system.
- Enforce standard operating procedures (SOPs) for inventory and asset management.
- Ensure compliance with IFRS, ZRA VAT rules, and company financial policies.
- Support digitalization and automation of inventory and fixed asset processes.
3. Qualifications & Experience
- Diploma or Degree in Accounting, Finance, or related field (ZICA Licentiate, ACCA, CIMA, or equivalent).
- Minimum 2–3 years’ experience in inventory accounting or fixed asset management.
- Experience with systems such as CIN7/DEAR, Sage, Pastel, SAP, Xero is an added advantage.
- Strong understanding of IAS 2 and IAS 16.
- Experience in FMCG, Agriculture, Retail, Construction, or Manufacturing sectors is beneficial.
4. Competencies & Skills
- Strong analytical and reconciliation skills.
- Knowledge of inventory costing, depreciation methods, and asset lifecycle processes.
- High attention to detail and accuracy.
- Strong Excel skills (VLOOKUP, Pivot Tables, Reconciliations).
- Good communication and teamwork skills.
- Ability to work under pressure with strict deadlines.
- Integrity, confidentiality, and strong adherence to controls.
5. Personal Attributes
- Organized and proactive.
- Strong ethical standards and accountability.
- Diligent and thorough in record-keeping.
- Problem-solving mindset with ability to identify control weaknesses.
6. Key Performance Indicators (KPIs)
- Accuracy and timeliness of inventory reconciliations.
- Quality and completeness of the Fixed Asset Register.
- Compliance with SOPs and internal controls.
- Timely posting of depreciation and stock transactions.
- Reduction of stock variances and improved asset tracking.
- Quality of monthly inventory and asset reports.
