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.

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.