Inventory Accountant

Responsibilities and Deliverables:

Inventory Accounting & Financial Reporting

•             Prioritize the timely return of rejected parts to suppliers (RTS) and issue debit memos to prevent inventory write-offs.

•             Maintain accurate inventory costs and valuations in the ERP system.

•             Reconcile inventory subledger balances to the general ledger.

•             Prepare journal entries for inventory transactions, adjustments, reserves, and cost allocations.

•             Support monthly, quarterly, and annual financial close processes.

•             Ensure inventory accounting complies with GAAP and company policies.

•             Analyze inventory balances and investigate unusual fluctuations or trends.

Inventory Control & Compliance

•             Monitor inventory transactions for accuracy and completeness.

•             Investigate inventory discrepancies, operational variances, and adjustment activity.

•             Coordinate cycle counts and assist with physical inventory counts.

•             Review count results and prepare reconciliation reports.

•             Develop and maintain inventory control procedures.

•             Ensure inventory adjustments are properly documented and approved.

Cost Analysis

•             Analyze material and labor costs, manufacturing variances, and standard costs, and assist with annual cost updates.

•             Evaluate reserves for obsolete, excess, slow-moving, or damaged inventory.

•             Prepare inventory turnover and aging analyses.

•             Recommend improvements to inventory accuracy and carrying costs.

Internal Controls & Audits

•             Maintain strong internal controls over inventory transactions and financial reporting.

•             Conduct internal audits and support external audit requests related to inventory.

•             Prepare audit schedules, reconciliations, and supporting documentation.

•             Identify opportunities to strengthen financial controls and inventory processes.

•             Support J-SOX compliance activities, where applicable.

Cross-Functional Collaboration

•             Partner with Warehouse, Manufacturing, Purchasing, and Operations teams to resolve inventory issues.

•             Provide management with inventory-related reports and analyses.

•             Support ERP system enhancements and inventory module implementations.

Requirements

Experience Required:

•             3-5 years of accounting experience, with emphasis on inventory or cost accounting.

•             Experience in manufacturing, distribution, or supply chain environments preferred.

•             Experience with ERP systems such as Epicor Kinetic, Oracle, SAP, Microsoft Dynamics, or similar.