Olalekan Oladipo
Accountancy
Moose Jaw
Summary
Meticulous and flexible accountant with a robust background in General ledger accounts, accounts receivable, and credit management with over 15 years of remarkable experience in the accounting field. Enthusiastic in applying an analytical mindset, care for detail, and financial shrewdness to excel as an accountant. Dedicated to further improving my accounting skills and knowledge to contribute effectively to the financial analysis, reporting, and budget control management drives within a dynamic organization. Inspired learner and team player, enthusiastic about embracing new challenges and making a meaningful impact on financial operations.
Overview
20
20
years of professional experience
Work History
Finance Manager: - Account Receivable, Payable & Credit Controller
Lafarge Africa Plc
03.2018 - 02.2024
- Responsible for maintaining credit customers data on ERP (SAP)
- Maintaining Credit Customers Credit limit and contract agreement on ERP
- Responsible for adequate supervision and prompt follow-up on overdue/outstanding invoices from trade receivable to minimize and avoid an increase in bad debt provision
- Responsible for assessing and evaluating customer's credit limit and credit days in line with the payment term in the credit policy
- Coordinates mid-year review of customer credit limit twice every year with the group
- Ensuring adequate reconciliation of each trade debtor account and sign-off once every month (usually at the end of each period end)
- Responsible for managing all dispute cases as reported by the customers on price claims, shortage claims, and returns claims as it affects account balance/reconciliations
- Quarterly booking of Bad Debt provision using approved provision Matrix in line with IFRS 9
- Approved installment agreement plan for customers with financial challenges after due verification and validation
- Weekly and monthly analysis and review of trade receivable overdue and open items for payment follow up by the commercial manager/Key Account Manager
- Overall management of Account Receivables
- Monitor and evaluate accounts payable policy processes and propose enhancements where necessary to increase payment accuracy and efficiency
- Supervise the accounts payable subdivision and ensure timely and accurate processing of invoices, payments, and expense reports
- Ensures that the three-way match of the customer's order, the supplier's delivery, and the goods receipt note (GRN) all reflect the same information
- Ensure compliance with company policies, as well as local, state, and federal regulations
- Monitor and evaluate accounts payable policy processes and propose enhancements where necessary to increase payment accuracy and efficiency
- Collaborate with the procurement unit and other finance functions, to ensure timely and accurate payment of invoices
- Manage vendor relationships and resolve any disputes related to payments or invoices
- Prepare and analyze accounts payable reports, including aging reports, cash flow projections, and vendor performance metrics
- Train and develop accounts payable staff, including setting performance goals and conducting performance evaluations
- Ensure accurate and timely month-end and year-end close processes for accounts payable
- Assist with audits and provide documentation and support as needed.
Finance Manager - Collection - Nigeria
Nigerian Bottling Company Ltd (Coca-Cola)
05.2017 - 03.2018
- Responsible for adequate supervision and prompt follow-up on overdue/outstanding invoices from trade receivable to minimize and avoid an increase in bad debt provision and write vs last Quarter /prior year same period
- Ensuring effective allocation and assigning of fixed collector/specialist for each National Key Account customer nationwide
- Responsible for assessing and evaluating customer's credit limit and credit days in line with the payment term in the credit policy
- Coordinates seasonal review of customer credit limit twice every year with the group
- Ensuring adequate reconciliation of each trade debtor account and sign-off once every month (usually at the end of each period end)
- Responsible for managing all dispute cases as reported by the customers on price claims, shortage claims, and returns claims as it affects account balance/reconciliations
- Generation of 85% Promises to Pay through direct contact with customers having overdue outstanding invoices for payment outside the agreed payment terms
- Quarterly booking of Bad Debt provision and providing vivid explanation with regards to each item on the provision booked
- Approved of installment agreement plan for customers with financial challenges after due verification and validation
- Approval of Account Receivable refund/Setting off where applicable in line with group credit policy
- Weekly and monthly analysis and review of trade receivable overdue and open items for payment follow-up by the commercial manager/Key Account Manager
- Overall management of Account Receivables.
Finance Manager - Credit Control
Nigerian Bottling Company Ltd (Coca-Cola)
11.2013 - 04.2017
- Responsible for supervision and monitoring Sales generation efficiently to meet agreed and specified dealer's target versus last year/prior year and budgets
- Guide best practices, standards templates, processes, and procedures across all SAP locations
- Analyzing and Responsible for managing outlet credit limit and credit days
- Coordinates the successful executions of temporary credit programs in contingency periods for approved outlets
- Responsible for recommending trade partners for credit facilities with the company
- Responsible for order cleaning for delivery to trade partners
- Weekly and monthly analysis on trade partner overdue and open items for payment follow-up
- Responsible for Account Receivables Management
- Responsible for settlement and billing of all customers' invoices to ensure delivery in full, on time, and accurate invoicing
- Supervision Circularization of customers’ statements of account and dunning letters for customers with overdue invoicing
- Responsible for implementation and review of SOX/ICF audit test circle
- Ensure satisfactory Audit rating, reviews of audit queries as they affect the commercial finance department, and developing action plans for remediation of all queries raised
- Review and Analyze changes management to Outlet master data and records in line with SAP requirements
- Review, analyze, and ensure adequate payment of Rebates/Discounts to qualified customers
- Ensure targets are communicated to all respective customers at the appropriate time.
Sales Accounting/Account Receivable Manager
Nigerian Bottling Company Ltd (Coca-Cola)
04.2012 - 10.2013
- Maintenance and Management of Account receivables schedules, Trade debtors statement account review, and onward circularization monthly
- Prepare and ensure adequate lodgments/ short banking reports to head office treasury
- Management of Outlet sales analysis and weekly review of reconciliation of Sales vs
- General Ledger
- Management of Basic and Depot sales figures in terms of physical unit cases and also ensure that all depot sales proceed are banked intact
- Ensure reconciliations of Actual sales figures to Projected Sales figures and review generated exception reports by the RSM for communication with the Commercial Directors
- Review of key Account Sales in terms of National and local Accounts, availability, and presence of all SKU
- Ensure satisfactory audit review on Basis Environment
- To make sure that bad products and near expired products are adequately provided for and booked in the account
- Ensure newly Developed outlets are adequately created on a Basis environment to ensure adequate capturing of all sales figures
- Ensured compliance with SOX audit and reviewed all exceptions raised.
Head/Route Settlement Manager
Nigerian Bottling Company Ltd (Coca-Cola)
04.2007 - 03.2012
- Interfaced Basic and Depot Sales journal to General Ledger on SUN System
- To ensure that there is no Sales without proper cash collections and Settlement
- Ensure 100% Face to Face Sales Settlement confirmed through accurate daily sales reporting for both Plant and Depots
- Ensure the preparation and circularization of salesmen shorts and over’s report to commercial manager/USM on a daily Basis
- Ensures that all Sales related data are captured via BASIS, BFPC & BONpc
- Ensure that all Sales activities summary must be interfaced with SUN accounting system
- Prepare discount analysis report for commercial manager’s review and submission to head office for approval
- Generate and prepare F2F exception report and ensure follow up on these exceptions
- Ensure that Salesmen clearance control accounts are nil for both Basic and Depot locations
- Ensure that no manual journal is posted into sales accounting ledger
- All Sales related activities should be done via BASIS Interface
- Ensure that no under accrual and over accrual of customer rebate/discount at each period end
- Ensure that no under payment/ over payment of rebate/discount, salesmen commission and weekend allowance
- Month stock – taking of finished products and raw material inventory with the store keeper at plants and depots.
Route Settlement Officer
Nigerian Bottling Company Ltd (Coca-Cola)
01.2004 - 03.2007
- Settlement of all route sales by deliveryman
- Preparation of Bank lodgments and Bank reconciliation reports weekly
- Maintaining and updating outlet master data and records for all trade customers
- Maintaining and updating article master data and records for all plant sales SKU
- Reconciliation and declaration of plant sales figures at the end of each Sales Period
- Reconciliation of customer account when an exception is raised
- Maintaining an Internal Control system within the organization
- Reconciliation and maintenance of staff sampling and public relation sampling.
Education
Post Graduate Diploma in Accounting and Finance - Accounting And Finance
Ahmadu Bello University Zaria, Kaduna State
Zaria, Kaduna State, Nigeria04.2027
HN. Diploma Bus. Admin & Mgt. - undefined
Federal Polytechnic Bida, Niger State
National. Diploma Bus. Admin & Mgt. - undefined
Federal Polytechnic Bida, Niger State
Master in Business Management -
University of East London
Skills
Additional Information - Sap Specialist
Order to Cash (O2C)
Professional Memberships
- Institute of Chartered Accountants of Nigeria, Associate Member, 2017
- Institute Chartered Economics of Nigeria, Associate Member, 2006
Timeline
Finance Manager: - Account Receivable, Payable & Credit Controller
Lafarge Africa Plc
03.2018 - 02.2024
Finance Manager - Collection - Nigeria
Nigerian Bottling Company Ltd (Coca-Cola)
05.2017 - 03.2018
Finance Manager - Credit Control
Nigerian Bottling Company Ltd (Coca-Cola)
11.2013 - 04.2017
Sales Accounting/Account Receivable Manager
Nigerian Bottling Company Ltd (Coca-Cola)
04.2012 - 10.2013
Head/Route Settlement Manager
Nigerian Bottling Company Ltd (Coca-Cola)
04.2007 - 03.2012
Route Settlement Officer
Nigerian Bottling Company Ltd (Coca-Cola)
01.2004 - 03.2007
Post Graduate Diploma in Accounting and Finance - Accounting And Finance
Ahmadu Bello University Zaria, Kaduna State
HN. Diploma Bus. Admin & Mgt. - undefined
Federal Polytechnic Bida, Niger State
National. Diploma Bus. Admin & Mgt. - undefined
Federal Polytechnic Bida, Niger State
Master in Business Management -
University of East London
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