Inventory Accountant

The

Inventory Accountant

is responsible for maintaining accurate inventory records,

ensuring proper inventory valuation, reconciling inventory accounts, and supporting financial

reporting. This role works closely with warehouse, procurement, production, and operations

teams to ensure inventory transactions are recorded accurately and comply with company

policies and accounting standards.

Key Responsibilities

 Maintain accurate inventory records and ensure all inventory transactions are

recorded correctly.

 Perform daily, weekly, and monthly inventory reconciliations between the ERP

system and physical inventory.

 Prepare monthly inventory journal entries and account reconciliations.

 Monitor inventory movements, including purchases, production, transfers, returns,

and adjustments.

 Calculate and review inventory costing, including standard cost or FIFO, as

applicable.

 Assist in month-end and year-end closing activities related to inventory.

 Analyze inventory variances and investigate discrepancies with warehouse and

production teams.  Coordinate and participate in cycle counts and annual physical inventory counts.

 Ensure proper accounting treatment for inventory write-offs, obsolete inventory, and

slow-moving stock.

 Prepare inventory-related financial reports and management analysis.

 Support budgeting and forecasting by providing inventory and cost data.

 Assist external and internal auditors by providing inventory documentation and

explanations.

 Ensure compliance with company policies, accounting standards, and internal

controls.

 Recommend and implement process improvements to enhance inventory accuracy

and operational efficiency.

Qualifications

 Bachelor's degree in Accounting, Finance, or a related field.

 Professional certification (CPA, CMA, ACCA, or equivalent) is an advantage.

 5+ years of accounting experience, preferably in wholesale, manufacturing, or

distribution.

 Experience with inventory accounting and cost accounting.

 Knowledge of ERP systems (SAP, Oracle, NetSuite, or similar).

 Strong understanding of inventory valuation methods (FIFO, weighted average,

standard costing).

 Advanced proficiency in Microsoft Excel.

 Strong analytical and problem-solving skills.

 Excellent attention to detail and organizational skills.

 Ability to work independently and collaborate with cross-functional teams.

Preferred Skills

 Knowledge of manufacturing processes and production costing.

 Experience with bill of materials (BOM), work-in-progress (WIP), and finished goods

accounting.

 Familiarity with inventory control procedures and warehouse operations.

 Experience with data analysis and reporting tools.

Key Performance Indicators (KPIs)

 Inventory record accuracy.

 Timely completion of month-end inventory close.

 Inventory reconciliation accuracy.

 Reduction in inventory discrepancies and adjustments.

 Timely completion of cycle counts and physical inventory.

 Accuracy of inventory valuation.

 Compliance with internal controls and audit requirements.

Working Conditions

 Office-based.

 May require participation in after-hours or weekend physical inventory counts during

month-end or year-end.  Occasional travel to warehouses or manufacturing sites may be required.