Retail Accounting Manager

Job Description

Job Description: Retail Accounting Manager

Job Summary

The Retail Accounting Manager is responsible for overseeing and managing all accounting functions related to the company’s corporate retail stores. This position ensures the accuracy and integrity of financial records, timely financial reporting, accurate payroll and tax filings, effective internal controls, and compliance with established company policies and applicable regulations. The Retail Accounting Manager works closely with corporate accounting, store management, and company leadership to monitor financial performance, resolve accounting discrepancies, and support sound financial decision-making across the retail division.

Supervisory Responsibilities

• Oversees and coordinates accounting activities related to the company’s corporate retail stores.
• Provides direction, guidance, and support to accounting personnel responsible for retail financial operations.
• Assists in recruiting, training, and developing accounting staff as needed.
• Evaluates accounting procedures and identifies opportunities to improve efficiency, accuracy, and internal controls.

Duties/Responsibilities

• Manages all accounting responsibilities associated with the company’s corporate retail stores.
• Oversees the accurate recording and reconciliation of store sales, cash deposits, credit card transactions, expenses, invoices, and other financial activity.
• Reviews and reconciles general ledger accounts, bank statements, and other financial records related to retail operations.
• Monitors store financial performance and prepares periodic reports to support management review and decision-making.
• Investigates and resolves accounting discrepancies, financial irregularities, and reporting inconsistencies in coordination with appropriate departments.
• Oversees the proper accounting and reporting of inventory adjustments, shrink, shortages, and other inventory-related transactions.
• Monitors retail operating expenses and assists with budget preparation, financial forecasting, and expense analysis.
• Coordinates month-end and year-end closing activities for the corporate retail division, ensuring accurate and timely financial reporting.
• Establishes and maintains accounting procedures and internal controls to safeguard company assets and promote financial accuracy.
• Works with store management to ensure the timely submission of financial records, supporting documentation, and required reports.
• Ensures retail accounting transactions are recorded in accordance with generally accepted accounting principles and established company policies.
• Assists with internal and external audits by preparing financial records, reconciling accounts, and providing requested documentation.
• Identifies opportunities to improve accounting processes, strengthen financial controls, and increase operational efficiency.
• Collaborates with corporate accounting, store management, and company leadership to address financial matters and support retail operations.
• Ensures compliance with applicable local, state, and federal regulations related to assigned accounting responsibilities.
• Oversees payroll processing for corporate retail store employees, including review of hours, wages, deductions, and withholdings to ensure accurate and timely payment.
• Reconciles payroll registers to the general ledger and ensures timely filing and remittance of federal and state payroll tax returns, including Forms 941 and 940 and state withholding and unemployment filings.
• Prepares, reviews, and files year-end Forms W-2 and W-3 and related state annual reconciliations, ensuring employee wage and tax information is accurate and submitted by required deadlines.
• Prepares and files state and local sales and use tax returns for the corporate retail stores, reconciles sales tax collected to the general ledger, and maintains supporting documentation for tax audits.
• Monitors changes in payroll tax and sales tax regulations and rates across applicable jurisdictions and updates procedures accordingly.
• Performs other related duties as necessary or assigned.

Required Skills/Abilities

• Strong knowledge of accounting principles, financial reporting, and account reconciliation procedures.
• Excellent analytical, problem-solving, and decision-making skills.
• Strong attention to detail and commitment to accuracy.
• Excellent written and verbal communication skills.
• Strong organizational and time management skills, with the ability to manage multiple priorities and meet deadlines.
• Ability to identify discrepancies, analyze financial data, and implement appropriate resolutions.
• Proficiency in accounting software and Microsoft Office Suite, particularly Microsoft Excel.
• Working knowledge of payroll processing, payroll tax requirements, Form W-2 reporting, and sales and use tax compliance.
• Ability to maintain confidentiality and exercise sound judgment when handling sensitive financial information.
• Ability to work effectively with accounting personnel, store management, and corporate leadership.

Education and Experience

• Bachelor’s degree in Accounting, Finance, Business Administration, or a related field required.
• Two to three years of related accounting experience required.
• Experience in retail accounting, multi-location accounting, or corporate retail operations preferred.
• Experience with financial reporting, account reconciliations, and month-end closing procedures preferred.
• Experience with payroll administration, payroll tax filings, W-2 preparation, and sales and use tax returns preferred.
• Supervisory or team leadership experience preferred.