Accountant/Senior Accountant

Closing Inventory and Month:

• Responsible for Financial Month End Cut off in ERP system
• Run and lockup data for Inventory and work-in-progress (WIP)

Maintain Sales Representatives and Account Responsibilities in ERP system:

• Identify new reps and match to their territory
• Update ERP system as required
• Calculate Monthly Commissions for all reps.

Inventory Cost Tracking & Reporting:

• Maintain accurate records of inventory costs, including purchase costs, freight, handling, and storage expenses.
• Prepare periodic inventory reports, including monthly and year-end inventory valuations.
• Reconcile inventory levels and cost discrepancies between the general ledger and physical inventory.

Inventory Valuation:

• Oversee the valuation of inventory, including raw materials, work-in-progress, and finished goods.
• Ensure proper cost accounting for inventory adjustments and revaluations.
• Perform regular inventory audits to assess the accuracy of inventory records and ensure proper cost allocation.

Cost of Goods Sold (COGS) Analysis:

• Analyze the relationship between inventory levels, costs, and sales to accurately calculate the COGS.
• Investigate any variances between actual COGS and budgeted or forecasted COGS, providing insights into discrepancies.
• Work with other departments to optimize inventory turnover and minimize carrying costs.

Inventory Reconciliation:

• Perform monthly, quarterly, and annual reconciliation of inventory accounts.
• Ensure that inventory records are aligned with physical stock counts.
• Identify and resolve discrepancies, investigating potential issues such as inventory shrinkage, damaged goods, or miscounts.

Budgeting & Forecasting:

• Assist in the preparation of inventory-related budgets, forecasts, and financial projections.
• Provide accurate cost forecasts for inventory purchases and production needs, helping to inform overall financial planning.
• Analyze trends in inventory movement and recommend adjustments to purchasing and production strategies.

Cost Control & Process Optimization:

• Work closely with procurement, operations, and warehouse teams to identify and implement cost-saving initiatives related to inventory management.
• Recommend changes to inventory processes or procurement strategies to optimize cost efficiency.
• Monitor and report on obsolete or slow-moving inventory, suggesting strategies for disposal or discounting.

Internal Controls & Compliance:

• Ensure compliance with internal control policies and inventory management procedures.
• Support the external audit process by providing necessary inventory documentation and ensuring that all records are accurate and up to date.
• Stay updated with accounting standards (such as GAAP or IFRS) and industry best practices related to inventory accounting.
• Work closely with auditors to provide necessary data and documentation during audits.
• Assist in the preparation of financial statements, including monthly closing and year-end procedures.

System Maintenance & Improvement:

• Utilize accounting and inventory management software to track and report on inventory costs.
• Help improve and streamline inventory cost tracking systems, ensuring accuracy and efficiency.
• Work with IT to implement new technologies or upgrade existing systems to improve inventory control and cost management.

Additional

• Provide management with routine and ad hoc analysis and reports related to sales, bookings, quotes, and standard pricing.
• Support and assist internal department reporting requirements such as audit schedules, tax schedules and others.
• Working with Engineering to calculate the SR&ED tax credit.
• Work in special projects as required