Senior Accountant

Domeo Resources International (DRI) is a prolific organisation which proffers HR and Management Consultancy solutions premised on excellence and innovation. DRI analyses various organisational problems, develops improvement plans, deploys those plans and monitors the plans to ensure improved organisational performance.

We are recruiting to fill the position below:

Job Title: Senior Accountant

Location: Victoria Island, Lagos

Employment Type: Full-time

Main Function

• The Senior Accountant is responsible for overseeing the hotel’s day-to-day accounting operations, ensuring accurate financial records, strong internal controls, timely financial reporting, effective cash and revenue management, and compliance with applicable financial policies, statutory requirements, and hotel standards.
• The role will provide reliable financial information to management to support sound business decisions, profitability, cost control, and sustainable growth of the hotel.

Responsibilities

Financial Accounting & Reporting:

• Oversee the daily accounting operations of the hotel and ensure transactions are accurately recorded.
• Maintain accurate and complete financial records in accordance with approved accounting standards and hotel policies.
• Prepare monthly, quarterly, and annual financial statements and management reports.
• Review general ledger accounts and ensure all balances are properly supported and reconciled.
• Ensure timely posting and closing of accounting periods.
• Monitor income, expenses, assets, liabilities, and cash flow.
• Prepare financial analysis and reports for management decision-making.
• Identify unusual variances, errors, and financial irregularities and recommend corrective actions.

Hotel Revenue & Income Control:

• Oversee the accurate recording and reconciliation of revenue from rooms, restaurants, bars, banquets, conferences, events, laundry, spa, and other hotel outlets.
• Review daily revenue reports and ensure all income generated is properly accounted for.
• Monitor room revenue, occupancy-related income, food and beverage revenue, and other departmental revenues.
• Ensure proper reconciliation between the Property Management System (PMS), Point-of-Sale (POS) systems, and accounting records.
• Investigate revenue discrepancies and ensure timely resolution.
• Work closely with Front Office, F&B, Sales, and other departments to strengthen revenue controls.

Accounts Payable & Receivable:

• Supervise accounts payable and ensure invoices are properly verified, approved, recorded, and paid according to agreed terms.
• Monitor outstanding receivables and ensure timely collection of hotel debts.
• Review customer and corporate account balances.
• Maintain proper supplier and customer account reconciliations.
• Ensure appropriate documentation is maintained for all payments and receipts.
• Monitor credit limits and payment terms for corporate clients.

Cash & Banking Management:

• Monitor daily cash collections, deposits, transfers, and bank transactions.
• Ensure all hotel cash collections are properly accounted for and deposited promptly.
• Review cashiers’ reports and daily cash reconciliations.
• Conduct regular cash and banking reconciliations.
• Monitor the hotel’s bank accounts and ensure unexplained differences are investigated immediately.
• Maintain proper controls over petty cash and operational cash funds.
• Support effective cash-flow planning and management.

Cost Control & Financial Control:

• Monitor hotel operating expenses and ensure spending is within approved budgets.
• Work closely with the Cost Controller, Store, Procurement, F&B, and departmental heads to control operational costs.
• Review food, beverage, inventory, payroll, utility, and other major operating costs.
• Investigate significant cost variances and recommend corrective measures.
• Ensure proper authorization is obtained before financial commitments are made.
• Strengthen internal controls to minimize wastage, fraud, errors, and financial losses.

Budgeting & Forecasting:

• Assist the Financial Controller and General Manager in preparing the annual hotel budget.
• Monitor actual performance against approved budgets.
• Prepare budget variance reports and provide explanations for significant deviations.
• Support departmental heads in understanding and managing their financial targets.
• Assist with financial forecasting and cash-flow projections.
• Provide financial information required for business planning and strategic decisions.

Inventory & Stock Accounting:

• Ensure proper accounting treatment and control of hotel inventory.
• Work with the Store and Cost Control teams to monitor stock movements.
• Review stock counts, inventory reconciliations, and stock valuation.
• Investigate stock variances, wastage, shortages, and unusual consumption patterns.
• Ensure proper documentation for purchases, issues, transfers, returns, and write-offs.
• Support regular stock audits and physical inventory counts.

Payroll & Staff-Related Financial Controls:

• Review payroll reports to ensure accuracy and proper authorization before processing.
• Work with HR to reconcile staff records, salaries, allowances, deductions, and statutory contributions.
• Ensure payroll-related expenses are correctly recorded.
• Monitor staff advances, loans, reimbursements, and other employee-related financial transactions.

Audit & Compliance:

• Coordinate internal and external audit requirements and ensure requested financial documents are readily available.
• Maintain proper audit trails and supporting documentation.
• Ensure the hotel complies with applicable accounting standards, tax regulations, statutory requirements, and company policies.
• Assist with tax computations, filings, and statutory payments as required.
• Implement recommendations arising from internal and external audits.
• Identify potential financial and compliance risks and escalate them appropriately.

Internal Controls & Risk Management:

• Establish, monitor, and improve accounting controls across hotel operations.
• Ensure proper segregation of duties within the Finance Department.
• Monitor authorization levels for purchases, payments, refunds, discounts, write-offs, and adjustments.
• Review financial processes regularly and recommend improvements.
• Detect and report suspected fraud, financial irregularities, or control weaknesses.
• Ensure confidential financial information is appropriately protected.

Team Leadership & Supervision:

• Supervise and coordinate members of the Finance and Accounts team.
• Assign responsibilities and ensure timely completion of accounting tasks.
• Train and develop accounting staff on hotel financial procedures and controls.
• Review staff performance and provide constructive feedback.
• Promote professionalism, accuracy, accountability, and teamwork within the Finance Department.

Management Support & Business Advisory:

• Provide management with accurate and timely financial information.

• Analyze hotel performance and highlight areas requiring management attention.

• Advise management on cost implications and financial risks associated with operational decisions.

• Support revenue and profitability improvement initiatives.

• Participate in management meetings and contribute financial insights to business discussions.

• Maintain a strong understanding of hotel operations and how different departments impact profitability.

• Key Performance Indicators (KPI)

• Accuracy and timeliness of financial reports.

• Accuracy of daily revenue reconciliation.

• Timely completion of month-end and year-end closing.

• Reduction in financial errors and control weaknesses.

• Effective management of accounts payable and receivable.

• Improved collection of outstanding debts.

• Accuracy of cash and bank reconciliations.

• Budget adherence and effective cost control.

• Reduction of revenue leakages and unexplained variances.

• Accuracy of inventory and stock accounting.

• Audit readiness and timely resolution of audit findings.

• Compliance with statutory and company requirements.

• Quality and timeliness of management financial analysis.

• Effectiveness of internal financial controls.

• Team productivity and performance.

• Contribution to improved hotel profitability.

Requirements

• Bachelor’s degree or HND in Accounting, Finance, or a related discipline.
• Professional accounting qualification such as ICAN, ACCA, CIMA, or equivalent is highly desirable.
• 5–8 years’ relevant accounting experience, preferably in a hotel or hospitality environment.
• Previous experience in a 4-star, 5-star, or superior luxury hotel is strongly preferred.
• Proven experience supervising or managing an accounting team.
• Strong knowledge of hotel accounting systems, PMS, POS, and financial management software.
• Demonstrable experience in budgeting, fi