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This person will be responsible for the valuation of inventory, revenue and cost of goods sold for various product lines. Be responsible for the P&L reporting to Gross Margin and Inventory and Warranty provisions. They will provide meaningful financial information which will be used for decision-making and be a key finance partner for the Operations team.Location:This is a hybrid role, with 3 days in the office. The working week is 37 hours and with a flexible start.We are based in High Wycombe.The role:Inventory Management
- Monthly reconciliation of inventory with a detailed analysis of inventory held by part number that we are holding the correct inventory,
- Preparation and review of Labour and Overhead in Inventory, posting as appropriate.
- Monthly review of labour recovery to ensure costs are correctly recovered to Prime Margin.
- Provide analysis to the Production Manager for effective management of labour and to ensure production cells are correctly set up
- Liaise with the regional office to understand the inventory held outside of the factory.
- Prepare the month-end profit in the stock journal.
- Business Partner with the Operations team, ensuring they have finance resource when needed
- Prepare the WIP reconciliation and review anomalies.
- Review Ageing of WIP with the production manager monthly
- Maintain and track all stock used for demonstration and ensure appropriate carrying value is held.
- Review stock held in quarantine on a regular basis with the procurement team
- Monthly balance sheet reconciliations of all stock accounts (including any stock provision accounts)
- Preparation of High Wycombe report with Operations.
- Review with the Financial Controller and post as appropriate.
- Work closely with Operations to ensure an efficient cycle count process.
- Ensure appropriate levels of inventory are being maintained.
- Annually update base costs for all items held in inventory
- Quarterly review of inventory held in regional offices
Revenue / Margin Analysis
- Prepare monthly revenue analysis
- Prepare and review margin analysis against the prior year/budget/forecast.
- This analysis will be by product line and region.
- Reviewing monthly ledger entries to ensure direct cost of sales and other cost of sales are correctly reported
- Ensure correct classifications of classification COGS: FOC, Warranty & ICO Service.
- Review all work-orders & Purchase Order Variances, liaising with relevant managers to resolve any issues.
- Review all other COGS categories to ensure they are at an appropriate value.
Other Month-end Tasks
- Review order income and revenue and upload into Controller.
- Work with the Order Entry team or production on resolving any missing information
- Ensure that revenue is recognised in line with the INCO terms of the order
- Preparation of Regional P&Ls to upload into the Group consolidation system monthly
- Monthly reconciliation of orderbook
- Monthly calculation of the warranty provision. Monthly review of Freight, Scrap and Cycle Count Variances
Other Tasks
- Assist in budgeting and planning processes.
- Provide analysis to the Financial Controller of markets, regions and OEM data relevant to the business.
- Provide commentary and communicate effectively to the Financial Controller key performance trends, variances and unusual items on a regular basis.
- Prepare Monthly Customer Service Level/Days Late Report.
- Prepare the Operations KPIs.
- Prepare the supporting schedules for the Quality Manager.
- Preparation of the quality report.
- Produce weekly revenue forecast.
- Ownership of the vendor returns process.Ensure the movement of stock is correctly accounted for
- Work closely with the external audit team to ensure all information is provided for in a timely manner for the interim and annual audit
- Review of open purchase orders with the procurement team on a regular basis to ensure that the information held in the system is current
- Year-end accrual of open purchase orders
- Year-end accrual of stock in transit from our suppliers
- Any ad-hoc tasks as required by the Financial Controller.
You will be....Qualified, or part qualified.Able to use MS products, work to own organisation and working in a customer service accounting environment.Demonstrate Customer Awareness., Process improvement, under a commercial purview.A team player, experienced at engaging with stakeholders and partners.
Experienced At Inventory and Cost Accounting.
The benefits and perks to this role are significant and varied. Apply for further details.
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