Sr. Manager, Inventory & Cost Accounting
Accounting & Finance
Remote · United States
Posted on Tuesday, October 31, 2023
We are Thrasio - Builders Welcome!
At Thrasio, we’re reimagining how to make the world’s most-loved products accessible to everyone. We work with successful sellers, using a deep understanding of rankings, ratings, and reviews – plus supply chain and marketing smarts – to transform the art and science of commerce. We estimate that 1 in 6 households has purchased a Thrasio product! And our goal is for all of those households to be truly delighted by their purchase.
What Makes Us Unique
At Thrasio, we’re in building mode: block by block we’re working together to construct a great company. What does that look like? Everyone is a leader - we lean into opportunities, not titles. We expect everyone to behave and act like a leader. Our Leadership Principles inform the ways we work together to ensure the brands, products and services we offer truly delight our customers. Everyone is a builder - whether it’s gaining marketable new skills through project sprints outside of your own function, or standing up more efficient ways of work - we’re doing it from the ground up. Everyone belongs- a sense of belonging brings us all together. We operate as One Team.
About the Role:
The position as Sr. manager, Inventory Accounting leads a team of 3 senior accountants and is responsible for the process of maintaining the Inventory Reserves, Accounting for GRIR, COGS review and for Inventory Accounting related issues with all acquisitions. This position is very visible and frequently reports and presents to executive leadership. This is a position that facilitates and improves relationships with other departments like Supply Chain, FP&A, IT and other departments.
- Work closely with Deals Onboarding/Integration team to Facilitate physical inventory counts for all locations which hold acquired inventory, in a timely manner corresponding with the closing of an acquisition. Establish standard physical inventory process, attend counts(virtually or physically) and ensure Thrasio has a presence at counts that are material. Communicate with external auditors to provide opportunity for them to attend counts as necessary.
- Review acquired inventory valuations as prepared by deals onboarding team to approve payments to sellers.
- Oversee acquired inventory uploading ensuring accurate COGS/FX Rates/Quantities are uploaded to corresponding warehouses in Netsuite.
- Reconcile Acquired Inventory Clearing Account and book residual gain/loss on inventory to Goodwill.
- Oversee & review reconciliation of the following Accounts:
- 13105 – Acquired Inventory Clearing
- 13100 – Product Inventory
- 13600 – Inventory In Transit
- 13700 – External Inventory in Transit
- 17710 – Goodwill - Acquired Inventory Adjustment
- Reserve Accounts TBD
- Coordinate with auditors to provide support for acquired inventory testing. This includes: Providing Auditors with updates on acquired inventory counts with respect to materiality of acquisition. Provide support for Acquired Inventory JE’s
- Work to establish SOX controls and processes related to overall COGS & Inventory, with special attention to acquired inventory.
Reserves & COGS Responsibilities:
- LCNRV and O&E reserves
- Oversee and review monthly Economic COGS analysis
- Adhoc COGS analysis/projects as needed
What You Bring to the Party:
- Master's Degree in either Accounting or Finance
- CPA is a plus
What We Offer:
- The chance to be part of a next-gen consumer goods company that is changing the industry
- A collaborative work environment where cross-functional teams work together to solve problems and achieve common goals
- The opportunity to build together with a talented, diverse and passionate team, and the innovative technology to enable us
- A hybrid work environment that allows employees to manage their schedules effectively, meet in a hub when necessary, and maintain a healthy balance
- Competitive salary and benefits package, tremendous on the job learning opportunities, and our Thrasher Perks program with the opportunity to purchase products at cost
The freedom to "be bold", have a voice within the company and take on opportunities with less red tape
Thrasio values diversity, equity, and inclusion and is proud to be an equal opportunity employer. We welcome individuals from all backgrounds and consider all qualified applicants without regard to race, color, religion, sex, gender, sexual orientation, gender identity, ancestry, age, national origin, disability, protected veteran status and any other category protected by applicable law. We strive to create an environment where everyone can thrive. We encourage applicants who meet the minimum criteria to apply, as we believe in the power of diverse perspectives and challenging assumptions.
We believe that all employees should be paid fairly and equitably. As of the time of this posting, the expected base annual salary range for this position is $135,000-$135,000. (For non-exempt roles, this reflects the expected base annual “salary” as calculated by the base hourly wage multiplied by the expected number of hours worked over a one year period, excluding any overtime and premiums.) The actual base annual salary will be based on a wide range of factors, including your skills, qualifications, and experience, as well as business needs and limitations. As a result, compensation may vary within and across similar roles and positions. Please note that the base annual salary range information set forth above is a good faith estimate for this position and actual compensation for any individual may fall outside this range if warranted by the circumstances applicable to that individual. If we identify a role that would be suitable for a broader range of skills and experience such that we would consider hiring at multiple levels then the range listed above may reflect that breadth. If offered a position, the actual base annual salary will be contained in your offer letter.
In addition to the base annual salary listed above, this position is eligible for short-term [and long-term] incentive compensation, as well as benefits, which are subject to the applicable plans, policies and definitive documentation regarding such compensation and benefits.