About Lowes
Lowes is a FORTUNE 100 home improvement company serving approximately 16 million customer transactions a week in the United States. With total fiscal year 2024 sales of more than $83 billion, Lowes operates over 1,700 home improvement stores and employs approximately 300,000 associates. Based in Mooresville, N.C., Lowes supports the communities it serves through programs focused on creating safe, affordable housing, improving community spaces, helping to develop the next generation of skilled trade experts and providing disaster relief to communities in need. For more information, visit Lowes.com.
About Lowes India
Lowes India, the Global Capability Center of Lowes Companies Inc., is a hub for driving our technology, business, analytics, and shared services strategy. Based in Bengaluru with over 4,500 associates, it powers innovations across omnichannel retail, AI/ML, enterprise architecture, supply chain, and customer experience. From supporting and launching homegrown solutions to fostering innovation through its Catalyze platform, Lowes India plays a pivotal role in transforming home improvement retail while upholding strong commitment to social impact and sustainability. For more information, visit Lowes India
About The Team
The Accounting Department is responsible for ensuring accurate financial management across various functions, including Customer Payments Accounting, Cost and Margin Analysis, Vendor Set-Up and Maintenance, Expenses Payables, Invoice Processing and Capital Assets, and Inventory Accounting. This role involves maintaining and reconciling the General Ledger, ensuring the reporting of accurate balances of P&L and Balance Sheet, processing invoices, and supporting comprehensive Reporting and Analytics to guide business decisions. The department also plays a key role in transforming IT tools and systems to streamline accounting processes, improve dataaccuracy, and enhance overall efficiency, contributing to the companys financial integrity and operational success
Job Summary
The Accounting Associate plays a crucial role in recording & maintaining the accuracy and integrity of the financial records for accounting operations in a timely manner. The individual will be responsible for managing day-to-day accounting tasks, ensuring compliance with accounting standards, ensure the appropriately documented, applicable internal controls and procedures are follwed and support the overall financial health of the business. This position is ideal for candidates who have good understanding of accounting principles, are detail-oriented, analytical, and enjoy working in a dynamic environment.
Roles & Responsibilities
- Daily Activities
- Record and process daily sales transactions, vendor invoices, payments/receipts into the accounting system.
- Reconcile cash registers and ensure daily banking processes are followed.
- Perform inventory accounting and ensure proper documentation of merchandise movement.
- Review and process vendor invoices and ensure timely payments.
- Assist in following up on customer payments and process accounts receivable transactions.
- Prepare accounts payable and accounts receivable reports for management review.
- Month-End Close:
- Support in the accruals, prepayments, and adjustment journal entries.
- Compliance & Audit:
- Ensure compliance with internal controls, policies, and procedures in retail accounting.
- Assist in audits and other regulatory financial reporting requirements.
- Cross-functional Collaboration:
- Collaborate with business operations teams to resolve discrepancies if any with interaction with the related teams.
- Prepare reconciliations, monthly journal entries, and respond to store and corporate mailbox queries.
- Work on Change fund audits and Remedy tickets.
- Escalate open items to the senior team members on a timely basis.
- Work on Check Verification and Positive Pay.
- Update the DTPs periodically.
- Support team members in completing activities and tasks as needed.
- Handle inquiries from auditors (internal and external), internal stakeholders, stores, and counterparts effectively.
- Engage proactively in discussions with partners to share and receive process-related updates and information.
- Actively seek out and participate in training opportunities.
- Work closely with the Operations Lead and partners to address challenges, concerns, process updates, and exceptions promptly, ensuring proper documentation.
- Identify and propose process improvement opportunities
Years Of Experience
- 0-2 years of retail accounting experience.
- Experience with accounting software (e.g., Open text, People Soft, Mainframe etc) is a plus.
- Familiarity with POS systems and retail software
IV. Education Qualification & Certifications (optional)
Required Minimum Qualifications
- Bachelors degree in accounting, Finance, Business Administration, or a related field (or
- equivalent experience)
V. Skill Set Required
Primary Skills (must Have)
- Strong knowledge of accounting principles.
- Excellent attention to detail and accuracy.
- Strong analytical and problem-solving skills.
- Ability to handle confidential information with integrity.
- Proficiency in Microsoft Office Suite, especially Excel.
- Strong organizational and time-management skills.
Secondary Skills (desired)
- Ability to work under pressure in a fast-paced dynamic environment.
- Team player with good communication and interpersonal skills.
- Willingness to learn and take on new responsibilities
Lowe&aposs is an equal opportunity employer and administers all personnel practices without regard to race, color, religious creed, sex, gender, age, ancestry, national origin, mental or physical disability or medical condition, sexual orientation, gender identity or expression, marital status, military or veteran status, genetic information, or any other category protected under federal, state, or local law.
Starting rate of pay may vary based on factors including, but not limited to, position offered, location, education, training, and/or experience. For information regarding our benefit programs and eligibility, please visit https://talent.lowes.com/us/en/benefits.
