Inventory Accounting Manger

Micro Center   •  

Hilliard, OH

Industry: Retail & Consumer Goods

  •  

5 - 7 years

Posted 112 days ago

The Inventory Accounting (IC) Manager is responsible for the overall integrity and accuracy of Micro Center’s InventoryReporting. This includes ensuring that the Inventory Sub Ledger system (IPMS) accurately reflects the status of the company’s physical inventory. The IC Manager will supervise a staff of two Accountants and also be responsible for the General Ledger accounts relating to inventory as well as the Profit & Loss Statement accounts relating to Sales and Gross Margin.

 

MAJOR RESPONSIBILITIES:

  • The IC Manager will coordinate Physical Inventories, which will be taken twice eachyear.
    • IPMS Merchandise Sales: Ensure processes are in place to validate Sales reporting and interaction of POS Systems, the Distribution System and IPMS.
    • Cost of Sales: Ensure processes and procedures are in place to accurately track, record, and validate all Costs of Sales recorded in the IPMS system. Ensure procedures are in place to accurately account for entries to the accounting systems that affect COGS accounts.
    • Merchandise Inventory: Ensure Financial Control Reports are in place that report and validateinventory movement and changes in cost.
    • Physical Inventory: Coordinate the taking of Physical Inventory ensuring that all inventory is counted, adjusted and reported properly
  • Maintain and modify when necessary reports reflecting daily sales and COGS for all divisions of Micro Electronics, Inc.
  • Ensure that there are means of validating information received from all systems; IPMS, the POS systems, the Distribution System, and the GL System. Ensure that these systems communication is accurate and balanced.
  • Ensure that the “Daily Merchandise Management and ControlReports” accurately validate andreportthe following:
    • Merchandise Sales / Markup, by Operating Division
    • IPMS Sales, Margin & Inventory, by Operating Division
    • Unit Adjustment Reconciliation
    • IP Adjustment Reconciliation
    • RTV Adjustment Reconciliation
    • Outstanding Vendor Allowance / Price Protection, by Merchandise Division
  • Ensure that there are procedures to properly account for the removal ofinventory for reasons not accounted for by the POS, IPMS, orDistributionSystems, including:
    • Internally Used Merchandise Supplies (SUMS)
    • Merchandise Equipment converted to Fixed Assets
    • Carrier and Insurance Company Claim Adjustments
  • Ensure that entries to the GL inventory accounts are properly reflected in COGS on the IPMS system and that entries on the IPMS system are reflected properly in the GL.
  • Ensure that all inventory received with extended shipping costs is received into the system at the proper cost and that these extended shipping costs are properly accounted for and reconciled monthly.
  • Reconcile Inventory General Ledger Accounts including: Inventory Accts, Accrual Accounts related to Inventory, Cost of Goods Sold Accrual Accounts, and others.
  • Validate paperwork relating to wire transfer payments and other payment methodologies which fall outside of the normal “Receipt / PO” matching process.
  • Monitor and ensure controls are in place to properly account for “Phantom Inventory”. (i.e. License agreements, warranty transactions, outside gift cards, etc.)
  • Coordinate Physical Inventory taking with Third Party Vendors, MIS, Retail Operations, Distribution Center, and Purchasing Departments. Ensure that all inventory is accounted for, properly counted, and report the results of the Physical Inventory to the company.
  • Approve Invoices and Check Requests coded to Margin Accounts and Physical Inventory accounts. Ensure proper steps have been taken to control these accounts.
  • Document all systems and make recommendations for improvement and efficiencies.
  • Supervise a staff of InventoryAccountants who will assist in accomplishing all of the tasks the Manager is responsible for.
  • All other duties as assigned.

 

EDUCATION & EXPERIENCE:

  • Bachelor’s Degree (preferably in Accounting or Finance) or equivalent experiencerequired
  • Five years related experience working with IPMS (or similar InventoryLedger system), bookkeeping, accounting, or otherinventory related experiencerequired
  • Advanced level Excel skills required.
  • High level mathematical, analytical, problem solving skills required
  • Strong PC skills including work with Word, Access and others highly preferred
  • Ability to organize diverse workloads and communicate clearly with other areas of the organization highly preferred
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