JOB SUMMARY:
The Retail Account Specialist is responsible for managing the accounting functions within the retail business. This role ensures the accuracy and integrity of financial records related to retail operations, including sales transactions, inventory control, and reconciliations. The Retail Account Specialist will support the accounting team in maintaining financial compliance, reporting, and analysis of retail performance.
JOB DUTIES:
Core duties and responsibilities include the following. Other duties may be assigned.
- Oversee the processing of retail sales transactions, ensuring they are recorded accurately in the accounting system.
- Monitor and reconcile daily sales data from various retail locations, e-commerce platforms, and point-of-sale (POS) systems.
- Track returns, exchanges, and discounts, ensuring accurate reporting.
- Assist in managing the inventory accounting system, ensuring that stock levels, purchases, and sales are recorded accurately.
- Perform regular inventory reconciliations and identify any discrepancies between physical stock and system records.
- Coordinate with operations and supply chain teams to ensure proper inventory valuation and reporting.
- Monitor and resolve discrepancies in accounts, including those related to retail operations and vendor relationships.
- Ensure that all retail accounting activities comply with internal control procedures, tax regulations, and accounting standards.
- Assist with external audits, providing necessary documentation and resolving any audit-related issues.
- Review vendor invoices related to retail operations and ensure accurate coding and processing in the accounting system.
- Manage accounts payable, ensuring timely payments and proper documentation.
- Identify opportunities for process improvements in retail accounting functions.
- Perform additional duties and special projects as assigned by the accounting manager or retail finance team.
JOB REQUIREMENTS:
- Bachelor’s degree in accounting, Finance, or Business Administration preferred, but not required.
- 2-3 years of experience in retail accounting or a similar accounting role.
- Knowledge of retail operations, inventory control, and retail-specific accounting systems.
- Strong understanding of general accounting principles and retail-specific accounting issues.
- Proficiency in accounting software (e.g., QuickBooks, SAP, or similar).
- Strong Excel skills (e.g., pivot tables, VLOOKUP).
- Attention to detail and strong analytical skills.
- Ability to work effectively under pressure and meet deadlines.
- Strong communication and interpersonal skills.
- Problem-solving mindset with a focus on accuracy and efficiency.
- Ability to collaborate effectively with cross-functional teams.
PHYSICAL REQUIREMENTS & WORKING CONDITIONS:
- Employees are occasionally required to stand, walk, reach with hands and arms; employees are frequently required to use hands or fingers to handle or feel; employees are regularly required to sit, talk, or hear.
- Employees are frequently required to lift up to 10 pounds.
