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Retail Inventory Control Cost Accountant

Location
Irvine, California
Job Type
Permanent
Posted
19 May 2023
Description:

POSITION SUMMARY STATEMENT

The Cost Accountant is responsible for the accuracy of the retail inventory in the Retail System, and responsible for ensuring the financial accuracy of the Accounting systems. The position monitors inventory transactions to ensure accuracy of the on hand inventory down to the style, color, size level to assist the merchandise team in effectively distributing inventory to maximize merchandise sell-through and to reduce inventory shrink.

ESSENTIAL DUTIES AND RESPONSIBILITIES

Work with the sales audit staff to ensure that all sales audit and interface rejections are corrected daily.
Review shipping and receiving discrepancies and work with the stores and warehouse to correct transactions where needed.
Monitor customer special order transfers (CSO/CSOR) to ensure accuracy of the transactions.
Ensure that receiving is completed by store and warehouse personnel in a timely manner and discrepancies are resolved.
Monitor Material on Loan (MOL) and make sure it is returned in timely manner.
Monitor Costs adjustment needed for Zero Receipts and cost variances for receipts and process those adjustments.
Approve and process requests for inventory adjustments for merchandise marked out of stock.
Process VIP and Employee Allotments and report to appropriate accounting staff.
Work with buyers, wholesale and third-party vendors to process returns.
Investigate outstanding inventory variances and instruct appropriate parties to make corrections.
Monitor inventory cost and retail to identify and correct problems.
Process RTV's from the warehouse.
Ad Hoc reports for Managers.
Train staff and store personnel in NSB and Raymark processes.
Perform various month end analysis and record journal entries accordingly. Analysis, include but are not limited to, standard cost adjustments, capitalization of excess overhead and its associated amortization, as well as inventory reserves.
Develop and update procedures for the stores and warehouse for all inventory transactions.
Coordinate semi-annual physical inventories in conjunction with an outside inventory service, prepare and distribute inventory instructions for the stores and warehouse, and investigate inventory variances and make appropriate adjustments.
Provide reports of physical inventory results to store managers and retail executives; determine which stores will be assigned to the target store program based on results; implement procedural changes to improve inventory accuracy, and notify loss prevention of any suspicious activity.
Implement the target store program for stores failing to achieve target shrinks, provide necessary training for store personnel and coordinate interim physical inventories.
Research discrepancies between the inventory balances in the retail system, back-office system and the general ledger.
Make recommendations to improve processes and efficiencies where possible.

SUPERVISORY RESPONSIBILITIES

This role does not oversee any direct reports

ORGANIZATIONAL RELATIONSHIPS

Interacts with all levels throughout organization including employees and outside vendors

MINIMUM QUALIFICATIONS: The following are the minimum qualifications which an individual needs in order to successfully perform the duties and responsibilities of the position.

Competencies

Thoroughness
Team work
Organization
Strategic Problem Solver
Planning
Communication
Results oriented
Initiative

Education/Experience:

3+ years of Retail inventory control experience
Level of education: Bachelor's degree, preferable in accounting, finance or business or equivalent work experience in inventory control
Some accounting experience preferred
Excellent MS Office skills; Excel and Word

PHYSICAL DEMANDS: In general, the following physical demands are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to allow differently-abled individuals to perform the essential functions of the job.

Must be able to see, hear and speak in order to communicate with employees and other customers

Specific vision abilities include close vision, distance vision, peripheral vision, depth perception and ability to adjust focus

Manual dexterity required using hands to finger; handle, feel and type; reach with hands and arms

Must be able to lift, move and carry up to 20 pounds

Requirements:

Required qualifications
Have you completed the following level of education: Bachelor's Degree?
Ideal Answer: Yes
How many years of work experience do you have with Microsoft Excel?
Ideal Answer: Minimum: 3
Are you comfortable working in a hybrid setting?
Ideal Answer: Yes
Are you comfortable commuting to this job's location?
Ideal Answer: Yes
Will you now, or in the future, require sponsorship for employment visa status (e.g. H-1B visa status)?
Ideal Answer: No
Are you legally authorized to work in the United States?
Ideal Answer: Yes
What is your desired annual salary for this role?
Ideal Answer: Minimum: 35
How many years of Retail Inventory Control experience do you possess?
Ideal Answer: Minimum: 2
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Details

  • Job Reference: 1010169177-2
  • Date Posted: 19 May 2023
  • Recruiter: ST JOHN KNITS INC
  • Location: Irvine, California
  • Salary: On Application
  • Sector: Accounting
  • Job Type: Permanent