Sr. Inventory Accountant (on - site)

Senior Inventory Accountant

Purple is a digitally-native vertical brand with a mission to help people feel and live better through innovative comfort solutions. To us, comfort means more than great products, it means empowering every employee to feel comfortable being themselves. We believe your career at Purple will be a one-of-a-kind "Career in Comfort" because our workforce is one-of-a-kind. We are committed to a culture of collaboration where every voice is heard and understood. As an innovation company at our core, we believe a diversity workforce brings better insights, solutions and products and serves as the backbone to bettering our company. Join with us as we add to our team of exceptional individuals who will help us take over the world — one mattress at a time.

The compensation target range for this role is:

$85,000 - $100,000

The Senior Inventory Accountant will assist in managing the entire inventory accounting process, including monitoring inventory movement, recording, valuation, reconciliation, perpetual detail maintenance, variance analysis, and monitoring internal control processes and procedures. Team leadership: will review the work of Inventory control manager, Inventory Supervisor, Inventory shift Leaders, and Inventory specialists. Problem-solving: Leads the investigation and resolution of complex accounting errors and irregularities. Strategic insight: Collaborates in the preparation on inventory financial reports and conducts ad hoc analysis for management to support decision-making. The ideal candidate will have a strong background in inventory accounting, cost accounting, standard cost variance analysis, a keen eye for detail, and the ability to work collaboratively with cross-functional teams.

Essential Duties & Responsibilities:

• Reconciliation and Analysis:
  • Reconcile inventory accounts and resolve discrepancies.
  • Provides follow-up and guidance on resolving pending or open transactions in the systems: In-Transit Transfer order, negative balances, inventory differences between systems (ERP vs WMS), among others.
  • Conduct regular analysis of inventory transactions and trends, particularly inventory adjustments associated with regular physical counts (monthly, quarterly and/or annually), cycle counts and inventory audits.
• Month-end Closing:
  • Prepare journal entries, accruals, and account reconciliations.
  • Review and reconcile transactions such as in-transit detail, including review of subsequent inventory receipts for in-transit accruals.
  • Reconcile Deposits – Inventory account to assist with cash management and accurate in-transit inventory accounting.
• Cost Accounting:
  • Review and support Warehouse and Inventory Control teams with cycle count, month-end physical inventory count processes, count accuracy and inventory zone coverage.
  • Assist the Cost Accounting Manager with standard cost setting and evaluation of standard cost variances during the month-end process.
• Audit Support:
  • Assist with internal and external audit requests related to inventory.
  • Ensure documentation meets Sarbanes Oxley (SOX) standards for compliance.
• Process Improvement:
  • Implementation and improvement: Develops, documents, and implements new inventory control procedures and process improvements to enhance efficiency, accuracy, completeness and compliance.
  • Effectively communicate with cross-functional teams and suggest guidelines for correctly processing inventory moves physically and systematically.
  • Implement best practices to enhance accuracy, completeness, efficiency and compliance.

Required Skills, Education, Experience:

• Bachelor's degree in Accounting, Finance, or a related field.
• Proven experience (3- years) as an Inventory Accountant or in a similar role.
• Proficiency of GAAP accounting principles, particularly for accrual accounting, ownership transfer, and cutoff.
• Proficiency of standard costing and cost accounting concepts.
• Vast experience with SOX requirements for documentation.
• Experience with ERP (NetSuite, SAP or similar) and warehouse management systems (WMS) such as HighJump/Korber and advanced knowledge in Microsoft Excel.
• Experience with accounting or auditing for publicly traded companies is preferred, but not essential.
• CMA designation is preferred, but not essential.
• Detail-oriented with strong analytical and problem-solving skills.
• Effective communication and interpersonal skills, particularly with warehouse and production management teams.

Physical Requirements:

• Physical activities may occasionally include: remaining in stationary position, often standing, sitting and walking for prolonged periods of time.
• Adjusting or moving objects up to 15 pounds in all directions.

• Physical activities may constantly include: communicating with others to exchange information.
• Repetitive motions that may include the wrists, hands and/or fingers.
• Assessing the accuracy, neatness and thoroughness of work assigned.

• Environmental Conditions may occasionally include: noisy open office environment.
• Regular monitoring of production and warehousing activities at manufacturing facilities.

Benefits and Perks:

• Medical, Dental, Vision
• 401(k) Match
• Flexible PTO
• Earn a Mattress
• Purple Swag
• Amazing Purple Products

Why Work at Purple?

• Make your mark: We value innovative thinking. At Purple, you will be empowered to bring your ideas to life as we work together to improve people's lives through comfort.
• Gain unique experience: Be a part of one of the fastest growing companies in Utah! The contributions you make will matter at Purple as the company continues to grow with you.
• Awesome culture: Join the tight-knit team at Purple and you can enjoy working alongside industry experts, making close friends, and annual employee appreciation events.

Purple provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws. This policy applies to all terms and conditions of employment.