Sr. Accountant - Lease Accounting

Job Description

Applies principles of accounting to analyze financial information, record and reconcile transactions, assist in the preparation of financial reports, calculates incentives,  resolve vendor disputes, ensures the Company's inventory transactions are reported in an accurate and timely manner within the financial records, and handle special projects as assigned.

ESSENTIAL DUTIES, RESPONSIBILITIES AND KEY SKILLS may include, but are not limited to the following.  Other duties may be assigned.

• Provide analysis for Accounting management and business unit teams to determine financial liabilities and prepare appropriate accruals.
• Perform analytical reviews and interpretation of financial data and provides understandable explanations to non-financial business partners.
• Research and resolve the proper accounting treatment for transactions relevant to assigned areas of responsibility in accordance with GAAP and established Company policy.
• Prepare journal entries and assigned account reconciliations on a period basis according to established schedule. Follow up with appropriate individuals for any needed corrections and prepares journal entries accordingly.
• Prepare short term vendor incentive income calculations, analyses and period end journal entries to ensure the general ledger accurately reflects income recognition and vendor receivables
• Assist in the preparation of detailed annual plans based on current year incentives, purchase trends and annual agreements.
• Review purchase projections to ensure accurate revenue recognition, compare future projections to historical purchase volumes as well as current year-to-date activity, and inquire with Merchandising team of any variables unknown to Accounting
• Monitor vendor purchases to determine status of reaching volume thresholds as required in contracts
• Reconcile vendors¿ reported purchases with Advance queried net purchases to ensure maximum income recognition and determine if reserves may be necessary
• Prepare and maintain schedules and supporting documentation needed for management, internal and external reporting, internal and external auditors, and SOX requirements.
• Reports Outside Sales weekly activity each Monday morning
• Collect vendor allowances within 30 days of the due dates 
• Project future period earnings based on allowances in contracts and established revenue recognition methods
• Assist in quarterly reviews/year-end audits with internal, external and recovery auditors.
• Understand daily activities of the department and provide assistance when needed to ensure daily and period goals/deadlines are met.
• Administer the company’s cycle count program
• Review, analyze, and account for lease agreements in accordance with applicable accounting standards (ASC 842).
• Prepare and post lease-related journal entries, including rent expense, amortization, and interest expense.
• Maintain and reconcile lease accounting schedules, including right-of-use (ROU) assets and lease liabilities.
• Collaborate with cross-functional teams, including real estate, legal, and operations, to ensure accurate lease data.
• Assist in the implementation and maintenance of lease accounting software and systems.
• Perform monthly and quarterly lease account reconciliations and variance analysis.
• Support internal and external/internal audits by preparing documentation and responding to auditor inquiries.
• Ensure compliance with SOX controls and company accounting policies.
• Provide lease-related financial insights to senior management and stakeholders.
• Assist with lease modifications, terminations, and impairment analysis.
• Research and resolve the proper accounting treatment for transactions relevant to assigned areas of responsibility in accordance with GAAP and established Company Policy.                                                                        
• Understand daily activities of the department and provide assistance when needed to ensure daily and period goals/deadlines are met.

QUALIFICATIONS

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Advanced Microsoft Word, Excel, Access, AS/400 and PeopleSoft skills.
• Strong analytical, organizational, conflict solving and negotiation skills.
• Extraordinary interpersonal skills to work in conjunction with other departments, vendors and internal and external customers.
• Must be a team player who also works well independently. 
• Must