Indirect Payable Associate at Food Concepts Plc

Food Concepts commenced operations in 2001. From inception, our aim has been clear-cut and focused: to revolutionise the food sector in West Africa and to deliver extraordinary satisfaction to our stakeholders. The journey began with our pioneering of the food court concept in Nigeria – a new and exciting offering for the local market.

Indirect Payable Associate

Job Type: Full Time
Qualification: BA/BSc/HND
Experience: 4 years
Location: Nigeria
Job Field: Finance / Accounting / Audit

Job Purpose

To process all invoices received for payment and for undertaking the payment of all creditors in an accurate, efficient and timely manner.

Core Responsibilities and Key Result Areas

Financial Transactions

Assist QSR Finance Manager in coordinating the payable unit functions.
Process accounts and incoming invoices in compliance with financial policies and procedures
Perform day to day financial transactions, including verifying, classifying, computing, posting and recording accounts payable data
Prepare bills for Franchise Royalty Invoices, Franchise Marketing invoices and all sundry invoice requests
Apply payments from franchises to their GL and ensure monthly reconciliation of franchise receivables.
Book all cash advance retirements.
Reconcile the payable GLs to the ageing reports and other relevant schedule
Verify discrepancies and resolve suppliers’ billing issues
Facilitate payment of vendor invoices by sorting and transmitting due invoices for the payment team.
Post and match all payments by franchisees (joining fee, marketing and royalty income)
Perform periodic account reconciliations with suppliers.
Reconcile sales of used oil and book entries per store location.

Bookkeeping and Reporting

Generate financial reports detailing accounts payable and receivable status
Post transactions to the Financial Reporting System
Initiate journal records for Franchise payments
Generate weekly report of due unretired cash advances

Reporting:

Prepare and publish, weekly reports of unretired advances to suppliers and staff.
Prepare and publish, weekly outstanding franchise invoices report
Prepare and publish, weekly creditors ageing report

Supervisory

Ensure tasks is fairly distributed among the payable team to ensure efficiency and speed of service.
Ensure new team members are provided relevant guidance on unit’s operational procedures and well and continuous coaching of junior colleagues.
Key Performance Indicators
Timeliness of Franchise invoicing
Timeliness of posting payment request dockets
Accuracy of weekly reports (vendors’ ageing report, cash advance reports and Franchise receivable invoices)
Number of invoices processes per day
Percentage of invoice exceptions per audit journals
Maintenance of good relationship with suppliers

Knowledge Requirements

Knowledge of Basic Bookkeeping and accounting payable principles
Knowledge of managing accounting figures and financial records
Demonstrates data entry skills with a knack for numbers
Knowledge of accounting software

Job Specifications

A good first degree in Accounting or Finance
Membership of ICAN, ACCA, or any other related professional degree is an added advantage
Minimum of 4 years’ experience in a similar role is required