Accountant - Inventory Reconciliation

Role & responsibilities

Daily Activities

• Prepare, analyze, and review inventory account reconciliations and journal entries.
• Verify that all inventory financial reports are timely, accurate, and compliant with US GAAP and internal company policies.
• Investigate and resolve discrepancies and accounting issues related to inventory operations.
• Review vendor invoices related to inventory and ensure prompt payment.
• Manage vendor relationships effectively to support smooth transactional processes.

Process Improvement & Compliance

• Identify opportunities to optimize inventory reconciliation processes and implement best practices.
• Ensure adherence to internal controls, company policies, and relevant industry standards.
• Collaborate with internal and external auditors during periodic audits and reviews.

Team Collaboration & Projects

• Work cross-functionally with other accounting and operations teams to align financial reconciliation practices with overall business objectives.
• Lead or support special projects, including system upgrades and ad hoc analyses related to inventory accounting.
• Perform assigned inventory-related financial tasks accurately and timely, applying working knowledge of accounting systems, inventory processes, and GAAP principles to routine situations.
• Prepare and review routine inventory financial reports and reconciliations to ensure accurate reporting.
• Escalate complex or unusual reconciliation issues to senior accountants or managers for further investigation
• Research inventory financial data to resolve issues ranging from straightforward to moderately complex, providing detailed information for senior review.
• Support smaller initiatives and contribute to broader finance projects focused on inventory accounting.
• Maintain clear communication within the team and across departments to ensure consistency in financial reporting.
• Participate in documentation and testing activities to support SOX compliance for inventory controls.
• Conduct moderately complex analyses of inventory accounts, including reconciliations, variance investigations, and historical comparisons, supporting close cycles.
• Prepare and maintain accurate documentation supporting journal entries and reconciliations for audit readiness.
• Assist in preparing variance explanations for inventory accounts during monthly, quarterly, and annual reporting cycles.
• Collaborate with senior team members to identify inventory transaction discrepancies and suggest process improvements.
• Provide data and support during internal and external audits focusing on inventory GL accounts.
• Prepare journal entries related to inventory (accruals, reclassifications, intercompany) under guidance.
• Maintain ongoing communication with team members and business partners to ensure accuracy and timely completion of inventory accounting tasks.

Preferred candidate profile

• Minimum of 3-5 years of experience in accounting, with at least 2 years in retail accounting or a similar role.
• Strong knowledge of GAAP and accounting principles.
• Proficiency in accounting software (e.g., Open Text, People Soft/Oracle, Mainframe, POS Systems) and MS Excel (pivot tables, v-lookups, formulas etc.).
• Experience with ERP systems and financial reporting tools.
• Experience overseeing junior staff members, providing training and support.
• Retail industry experience preferred but not required.