Accounting Manager – E-Commerce

Job Purpose

The Accounting Manager is responsible for leading and managing the Company’s accounting operations, ensuring the accuracy, completeness, and integrity of financial records and financial statements, maintaining timely and accurate financial close processes and reconciliations, and ensuring compliance with applicable accounting standards, tax and zakat regulations, and other regulatory requirements.

The role is also responsible for establishing, managing, and controlling the end-to-end accounting cycle for e-commerce operations, including digital sales channels, payment gateways, inventory and cost of goods sold (COGS), returns and refunds, discounts and promotional vouchers, logistics settlements, marketplaces, and the reconciliation and integration of these activities with the ERP system and bank accounts.

Key Responsibilities

1. Accounting Operations & Team Management

1. Lead and manage the Accounting Department, including workload allocation, performance management, coaching, and team development.
2. Oversee the General Ledger (GL) and ensure the accuracy, completeness, and appropriate classification of all accounting entries.
3. Review and approve journal entries, bank reconciliations, account reconciliations, and balance sheet schedules.
4. Oversee Accounts Payable (AP), Accounts Receivable (AR), fixed assets, accruals, prepayments, expenses, and other accounting processes.
5. Lead the monthly, quarterly, and annual financial close processes in accordance with established closing timelines.
6. Prepare and review periodic financial statements and accounting reports and ensure their accuracy before submission to the Finance Manager and executive management.
7. Review trial balances, investigate unusual balances and accounting discrepancies, and ensure timely resolution.
8. Maintain and enhance the Chart of Accounts to ensure alignment with the Company’s business model, products, channels, and reporting requirements.

2. E-Commerce Accounting

1. Oversee the complete accounting cycle for e-commerce sales across all digital channels and platforms.
2. Ensure accurate reconciliation between customer orders, sales transactions, invoices, collections, payment gateways, bank settlements, and the ERP system.
3. Review and reconcile transactions processed through payment methods and gateways, including Mada, Visa, Mastercard, Apple Pay, STC Pay, and other payment methods used by the Company.
4. Monitor and investigate differences between recorded sales, actual collections, gateway fees, commissions, refunds, and bank settlements.
5. Oversee the accounting treatment of returns, exchanges, refunds, cancellations, discounts, vouchers, coupons, and promotional campaigns.
6. Review the accounting and reconciliation of Cash on Delivery (COD) transactions, where applicable, including collections made through logistics providers.
7. Review and reconcile logistics and shipping company settlements, including shipping charges and amounts collected on behalf of the Company.
8. Oversee marketplace reconciliations, including sales, commissions, platform fees, returns, refunds, deductions, and financial settlements.
9. Ensure completeness of revenue recognition and identify any unrecorded, duplicated, or unreconciled orders, sales, or collections.

3. Inventory & Cost of Goods Sold

1. Oversee inventory accounting and ensure the accuracy of inventory movements, valuation, and related accounting entries.
2. Review Cost of Goods Sold (COGS) calculations and ensure accurate reflection in the financial results.
3. Reconcile inventory balances across warehouses, the ERP system, e-commerce platforms, and other relevant operational systems.
4. Oversee periodic and annual physical inventory counts and investigate and resolve inventory variances.
5. Ensure appropriate accounting treatment for damaged, lost, obsolete, slow-moving, and aged inventory in accordance with approved policies.

4. Compliance & Internal Controls

1. Ensure compliance with International Financial Reporting Standards (IFRS) and approved accounting policies.
2. Ensure compliance with applicable zakat and tax regulations, Value Added Tax (VAT), e-invoicing requirements, and other relevant regulatory requirements.
3. Develop, document, maintain, and update accounting policies, procedures, workflows, and financial authority controls.
4. Design and maintain effective internal controls to safeguard Company assets and reduce accounting, financial, and operational risks.
5. Ensure appropriate segregation of duties (SoD) across accounting and financial processes.
6. Prepare accounting position papers and technical accounting assessments for complex or non-routine transactions.
7. Monitor developments in IFRS, taxation, and accounting regulations and assess and implement their impact on the Company where applicable.