Role Summary:
The Inventory Accountant is responsible for the accurate financial valuation of inventory across all locations, ensuring that all inventory movements are reflected in the accounting system (QuickBooks) and properly recognized in COGS. This role acts as the financial owner of inventory, working closely with Warehouse Operations to reconcile physical vs. book stock and ensure accurate reporting.
Key Responsibilities:
Inventory Valuation & Accounting
- Maintain item master data, costing method (weighted average/standard), and price lists in QuickBooks.
- Review and record all inventory receipts as inventory assets.
- Ensure all releases/issuances automatically or manually hit COGS in the correct period.
- Perform landed cost and overhead allocations where applicable.
Reconciliation
- Lead monthly inventory reconciliation between Warehouse logs and QuickBooks.
- Investigate and correct discrepancies (timing, posting errors, adjustments).
- Lead quarterly full inventory counts and manage adjusting entries.
Reporting
- Inventory turnover and aging reports.
- Monthly COGS accuracy validation.
- Stock variance, shrinkage, and obsolescence reporting.
- Provisioning recommendations for slow-moving or expired stock.
Controls
- Enforce segregation of duties between Finance (valuation) and Ops (custody).
- Prevent unapproved adjustments and unauthorized movements.
- Ensure audit trails and compliance for all inventory transactions.
Qualifications:
- BS Accountancy graduate; CPA certification is an advantage.
- 12 years of relevant work experience.
- Proficient in QuickBooks.
- Advanced Excel skills.
- Strong attention to detail with expertise in data accuracy and reconciliation.
