Inventory Accountant

Job Title: Inventory Accountant

Job Summary: We are seeking an organized and detail-oriented Inventory Accountant to join our finance team. The successful candidate will be responsible for managing and maintaining accurate inventory records, conducting regular reconciliations, and ensuring the proper valuation of inventory. This role plays a crucial part in optimizing inventory costs and ensuring compliance with accounting principles and company policies.

Key Responsibilities:

• Inventory Valuation & Reconciliation:
  • Maintain accurate records of inventory transactions, including receipts, issues, and adjustments.
  • Perform regular reconciliations of physical inventory to the general ledger, ensuring discrepancies are identified and resolved.
  • Prepare monthly and year-end inventory reports, assisting with financial statement preparation.
• Inventory Costing:
  • Calculate and track cost of goods sold (COGS), analyzing cost variances and ensuring correct accounting of inventory costs.
  • Collaborate with the procurement and production teams to ensure inventory is accurately valued and tracked.
• Internal Controls:
  • Ensure compliance with company policies and accounting standards regarding inventory management.
  • Assist in the implementation and review of internal controls related to inventory processes to minimize the risk of errors.
• Systems & Process Improvements:
  • Utilize inventory management software and ERP systems to track inventory and generate necessary reports.
  • Recommend process improvements and support the optimization of inventory tracking methods and procedures.
• Audit & Reporting Support:
  • Assist with inventory-related audits, both internal and external.
  • Provide detailed information and support to auditors during the audit process.
• Collaboration & Communication:
  • Work closely with cross-functional teams, including procurement, production, and warehouse staff, to ensure accurate inventory reporting and coordination.
  • Provide inventory insights to management for decision-making purposes.

Qualifications:

• Bachelor’s degree in accounting, finance, or a related field.
• Proven experience in inventory accounting, cost accounting, or a related role.
• Strong understanding of accounting principles, inventory management, and financial reporting.
• Proficiency in accounting software and ERP systems (experience with SAP, Oracle, or similar is a plus).
• Excellent analytical, organizational, and problem-solving skills.
• Strong attention to detail with the ability to manage multiple tasks and meet deadlines.
• Good communication skills, with the ability to work collaboratively in a team environment.

Preferred Skills:

• CPA or CMA certification (or progress toward certification) is a plus.
• Experience in manufacturing or warehousing is advantageous.
• Knowledge of supply chain and inventory management best practices.

Work Environment:

• Full-time position, with standard business hours.
• Competitive salary and benefits package.

Salary : $60,000 - $75,000