Senior Accountant (Revenue)

Position Overview: The Senior Revenue Accountant is responsible for managing the accurate recognition of revenue in accordance with ASC 606 and ensuring the proper accounting of all revenue transactions. This role will involve overseeing the month-end close process, preparing journal entries, and ensuring all revenue-related accounts are reconciled between the IBS (AS400) Subledger and Oracle GL systems. The Senior Revenue Accountant will work closely with the FP&A team to analyze sales variances between actuals and budget, providing insights and ensuring alignment between the finance team and sales strategies. This position is critical in maintaining compliance with accounting standards while improving revenue recognition processes and systems.

Key Responsibilities:

Revenue Accounting and Compliance:

• Lead the implementation and ongoing compliance with ASC 606 revenue recognition standards, ensuring that all revenue transactions are accurately recognized and classified.
• Develop, implement, and maintain policies and procedures for revenue recognition in compliance with ASC 606, interpreting contracts and ensuring proper accounting.
• Ensure proper classification of revenue streams, including product sales, services, and subscription-based revenue.
• Oversee the preparation of journal entries related to revenue recognition, ensuring accurate accounting for deferred revenue, accrued revenue, and revenue adjustments using Oracle and IBS (AS400).
• Manage month-end close processes for revenue, ensuring all revenue-related accounts are accurate and complete.
• Responsible for AR allowance for credit loss in coordination with the Credit and Collections team

Revenue Variance Analysis:

• Collaborate with FP&A to analyze and explain sales variances between actuals and budget or forecast, providing insightful analysis and actionable recommendations.
• Assist in the preparation of revenue forecasts and collaborate with FP&A to refine forecasting models based on actual sales trends and performance.

Reconciliation and Cut-Off Processes:

• Manage the reconciliation of revenue accounts between IBS (AS400) and Oracle GL, ensuring timely and accurate transfer of data.
• Oversee cut-off procedures, ensuring that revenue transactions are recorded in the correct accounting period, especially during the month-end close.
• Troubleshoot and resolve discrepancies between IBS and Oracle systems to ensure accuracy in financial reporting.

Financial Statement Disclosures:

• Ensure the proper presentation and disclosure of revenue-related items on the financial statements, in compliance with ASC 606.
• Oversee the preparation and review of financial statement disclosures related to revenue, ensuring compliance with GAAP and ensuring that deferred revenue, contract liabilities, and related balances are accurately reported.

Cross-Functional Collaboration:

• Work closely with FP&A, Sales, and Operations teams to align business strategies with revenue accounting policies and ensure that revenue recognition is accurately reflected in the financials.
• Support the FP&A team in improving month-end close processes and assist with the preparation of monthly, quarterly, and annual revenue reports.

Audit and Compliance Support:

• Lead the preparation of audit schedules related to revenue transactions and support both internal and external audit requests to ensure proper compliance with revenue recognition standards.

Qualifications:

• Bachelor’s degree in Accounting, Finance, or a related field (CPA or equivalent certification preferred).
• 6+ years of experience in revenue recognition, with expertise in ASC 606 and related accounting principles.
• Experience with financial systems such as Oracle GL and IBS (AS400) or similar platforms.
• Strong analytical skills, with the ability to manage and resolve complex reconciliations, especially in multi-system environments.
• Proven experience in working closely with FP&A teams, specifically around revenue forecasting, variance analysis, and budget management.
• Excellent communication skills, with the ability to collaborate across departments and explain complex revenue recognition matters.
• Strong attention to detail and the ability to identify and implement process improvements to enhance accuracy and efficiency

Working Conditions:

• Full-time position based at Worldpac’s corporate headquarters.
• Occasional travel may be required for site visits, cross-functional meetings, or audit coordination.

Location Type: On-Site Pay Range: USD $88,000.00 - USD $125,000.00 /Yr.