We are looking for a skilled Senior Accountant with experience in the F&B sector. The Senior Accountant will manage reporting, compliance, and audits while leading the finance team, streamlining processes, and providing management with clear financial strategies to support growth and operational excellence.
Key Responsibilities
Financial Management & Reporting
-Prepare, review, and analyze monthly, quarterly, and annual financial statements with detailed variance commentary.
-Ensure accuracy of trial balance, profit & loss accounts, balance sheets, and cash flow statements.
-Maintain and reconcile the general ledger, journal entries, accruals, prepayments, and depreciation schedules.
-Oversee daily bookkeeping, petty cash monitoring, and expense claim approvals.
-Manage accounts payable and receivable, ensuring timely supplier payments and customer collections.
-Review and validate vendor invoices, contracts, and service agreements for accuracy.
-Reconcile bank statements, supplier accounts, intercompany accounts, and POS system reports.
-Ensure VAT/tax compliance: timely filing, accurate records, and handling of audits or inspections.
-Generate management reports, dashboards, and financial KPIs for decision-making.
2. Cost Control & Inventory Management
-Oversee recipe costing, menu engineering, and food cost percentage monitoring for each outlet.
-Verify daily sales reports, discounts, voids, and complimentary items to prevent revenue leakages.
-Track and reconcile kitchen wastage, staff meals, and spoilage reports.
-Conduct yield analysis and portion control audits to ensure recipe standardization.
-Collaborate with chefs on cost optimization without compromising quality.
-Monitor purchase prices and negotiate with suppliers to manage cost fluctuations.
-Validate GRN (Goods Received Notes) against supplier invoices and PO agreements.
-Supervise monthly, quarterly, and surprise stock counts, ensuring reconciliation with system balances.
-Work with purchasing and store teams to monitor par levels, FIFO practices, and expiry management.
-Identify inefficiencies in BOH operations leading to cost overruns and recommend corrective measures.
3. Budgeting & Forecasting
-Develop and manage annual budgets, broken down by outlet, cost center, and department.
-Monitor budget vs. actual results and provide monthly variance analysis with explanations.
-Conduct sales forecasting based on seasonality, promotions, and market trends.
-Perform profitability analysis for new menu items, seasonal promotions, and catering services.
-Support feasibility studies for new outlets, kiosks, or expansion projects.
-Prepare rolling cash flow forecasts to ensure liquidity for operations.
-Work with management to set realistic financial targets for each department.
-Track labor costs, overheads, and utility expenses against industry benchmarks.
4. Internal Controls & Compliance
-Implement strict internal controls for cash handling, discounts, refunds, and staff meals.
-Develop and enforce SOPs for financial documentation, reporting, and approval hierarchies.
-Ensure compliance with local laws, company policies, and audit requirements.
-Regularly review system access rights to ensure segregation of duties.
-Conduct spot checks on outlet cash handling, POS systems, and petty cash usage.
-Prepare and coordinate for internal/external audits, ensuring all schedules and reports are ready.
-Review insurance policies, licenses, and regulatory filings to ensure compliance.
-Identify and report fraud risks, implementing corrective actions when required.
5. Team Leadership & Collaboration
-Supervise and mentor junior accountants, finance assistants, and cashiers.
-Review and approve all journal entries, reconciliations, and financial reports prepared by the team.
-Provide training to team members on accounting standards, software, and financial procedures.
-Act as a bridge between finance and operations, ensuring transparent communication.
-Support HR and payroll teams in salary processing, overtime calculation, and benefits reconciliation.
-Conduct monthly finance team meetings to review performance, assign tasks, and resolve issues.
-Foster a culture of accountability, continuous learning, and professional growth.
-Liaise with auditors, banks, suppliers, and other stakeholders on behalf of the company.
Qualifications & Experience
-Bachelor’s degree in Accounting, Finance, or related field
-Minimum 5–7 years of accounting experience, with at least 3 in F&B/hospitality.
-Strong knowledge of cost control, menu engineering, and inventory management.
-Proficiency in accounting software (e.g., Tally, QuickBooks, Oracle, or ERP systems).
-Advanced MS Excel and data analysis skills
-Strong leadership skills with experience supervising teams.
-Excellent communication, problem-solving, and decision-making abilities.