Inventory Accountant

Job Description

Job Description

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.