Baly is looking for a highly experienced Senior FMCG Accountant to establish and manage the end-to-end accounting and financial operations of its Grocery Division.
This role requires hands-on experience in online grocery, quick commerce, dark stores, or FMCG retail operations. As this is a new business division, the successful candidate will be responsible for building accounting processes, implementing financial controls, and ensuring accurate financial reporting with a high level of independence and ownership.
The ideal candidate combines strong accounting expertise with a deep understanding of inventory management, supplier accounting, sales reconciliation, and grocery business profitability.
Key Responsibilities
- Accounting Setup & Financial Operations
- Establish and manage the complete accounting cycle for the Grocery Division, including the chart of accounts, accounting policies, procedures, and internal controls.
- Develop standardized accounting processes to support business growth and operational efficiency.
- Ensure accurate financial records and compliance with company policies and applicable accounting standards.
- Inventory Accounting & Cost Management
- Manage inventory accounting, stock valuation, cost of goods sold (COGS), and stock reconciliation.
- Monitor expiry, wastage, shrinkage, damaged goods, stock adjustments, and inter-warehouse transfers.
- Reconcile physical inventory with system records and investigate discrepancies.
- Procurement & Supplier Accounting
- Manage supplier accounts, purchase reconciliations, supplier statements, credit notes, returns, rebates, and payment schedules.
- Monitor supplier aging and ensure accurate recording of purchases, liabilities, and payments.
- Coordinate with Procurement and Supply Chain to resolve financial discrepancies.
- ERP & System Integration
- Define accounting and financial requirements for ERP implementation and system improvements.
- Ensure accurate integration between the grocery application, inventory, procurement, payment systems, and accounting platforms.
- Validate financial data flows and system-generated reports to maintain accuracy and consistency.
- Sales & Payment Reconciliation
- Manage daily reconciliation of app orders, sales, discounts, cancellations, refunds, and customer payments.
- Reconcile payment gateways, cash collections, and other payment channels.
- Investigate discrepancies and ensure revenue and transactions are accurately recorded.
- Cost Control & Profitability Analysis
- Monitor product margins, purchase costs, promotions, delivery costs, packaging costs, and operating expenses.
- Analyze profitability by SKU, category, store, and city.
- Identify cost-saving opportunities and recommend actions to improve margins and financial performance.
- Financial Reporting & Analysis
- Prepare monthly profit and loss (P&L) statements, including PC1, PC2, and PC3 profitability reporting.
- Prepare COGS analysis, inventory reports, supplier aging reports, and budget-versus-actual reports.
- Provide accurate financial insights and recommendations to support management decisions.
- Financial Controls & Multi-Location Operations
- Establish and monitor financial controls across purchasing, goods receiving, inventory movements, sales, and payments.
- Manage accounting and financial reporting across multiple dark stores, warehouses, and cities.
- Identify financial risks, strengthen controls, and ensure consistency across all locations.
- Business Partnering
- Work closely with Grocery Operations, Procurement, Supply Chain, Commercial, and Finance teams.
- Support budgeting, forecasting, operational reviews, and financial planning.
- Provide recommendations to reduce inventory losses, improve operational efficiency, control costs, and increase profitability.
Requirements
- * Bachelor's degree in Accounting, Finance, or a related field.
- Minimum 5–7 years of relevant accounting experience, including at least 3 years in FMCG, grocery retail, online grocery, or quick commerce.
- Proven hands-on experience managing end-to-end accounting operations within a grocery or FMCG business.
- Strong expertise in inventory accounting, stock valuation, COGS, supplier accounting, and financial reconciliation.
- Experience establishing accounting processes and internal controls for a new business, division, or operation is highly preferred.
- Practical experience with ERP systems and financial system integrations.
- Strong understanding of grocery retail economics, product margins, inventory losses, and multi-location operations.
- Advanced Excel and Google Sheets skills, including financial analysis, reconciliations, and reporting.
- Strong analytical, organizational, and problem-solving skills.
- Ability to work independently, take full ownership, and build processes with minimal technical guidance.
- Strong communication skills and the ability to collaborate with cross-functional teams.
Key Performance Indicators (KPIs)
- * Accuracy and timeliness of financial reporting.
- Inventory reconciliation accuracy and stock variance.
- COGS accuracy and inventory loss control.
- Supplier reconciliation accuracy and payment timeliness.
- Daily sales and payment reconciliation completion.
- Budget adherence and cost-control performance.
- Profitability and margin visibility by SKU, category, store, and city.
- Effectiveness of financial controls and accounting processes.
