Accountant – Inventory & Purchases

Job Description: Accountant – Inventory & Purchases

Position Overview

The Accountant – Inventory & Purchases is responsible for overseeing the end-to-end inventory accounting process, monitoring purchase transactions, ensuring accurate recording of stock movements, and supporting vendor and procurement functions. The role requires strong analytical skills, attention to detail, and coordination with operations, stores, and procurement teams to ensure data integrity and timely reporting.

Key Responsibilities

Inventory Accounting

• Maintain accurate and up-to-date records of inventory across all locations.
• Monitor stock movements including GRNs, issues, transfers, adjustments, and returns.
• Reconcile physical stock with book inventory on a monthly/quarterly basis.
• Track slow-moving, non-moving, and obsolete inventory; highlight variances to management.
• Review and validate stock valuation as per company policy (FIFO/Weighted Average, etc.).
• Coordinate with the stores team during regular and surprise stock audits.

Purchase Accounting

• Record purchase transactions, vendor bills, and purchase returns in the accounting system.
• Verify purchase orders, delivery notes, and invoices for accuracy.
• Ensure timely booking of vendor invoices and adherence to credit terms.
• Process vendor payments after appropriate approvals and reconciliations.
• Track advances to vendors and ensure timely settlement or adjustment.

Vendor & Procurement Coordination

• Liaise with vendors for invoice clarifications, payment status, and reconciliation.
• Collaborate with the procurement team to validate rates, quantities, and PO compliance.
• Maintain updated vendor master data and manage vendor ageing.

Compliance & Reporting

• Ensure GST compliance for inventory and purchase-related transactions.
• Prepare periodic MIS reports: inventory ageing, purchase summary, GRN pending, etc.
• Assist in internal, statutory, and tax audits by providing required schedules and support.
• Ensure adherence to internal controls related to purchases and inventory.

Skills & Qualifications

• Bachelor’s degree in Commerce, Accounting, or related field.
• 2–5 years of experience in inventory and purchase accounting.
• Strong knowledge of accounting principles and inventory valuation methods.
• Proficiency in MS Excel and familiarity with ERP/accounting software (Tally, SAP, Zoho, etc.).
• Good communication skills and ability to coordinate with cross-functional teams.
• High attention to detail and strong analytical mindset.

Preferred Attributes

• Experience in manufacturing, trading, or FMCG industries.
• Understanding of GST rules related to input tax credit and purchase transactions.
• Ability to work in a fast-paced environment with tight deadlines.

Job Type: Full-time

Pay: ₹20,000.00 - ₹25,000.00 per month

Work Location: In person