Staff Accountant

Petco • Natick, MA

8d • Onsite

About The Position

Petco is seeking a Staff Accountant to join their team. This role will participate in the month-end closing process, monitor General Ledger (GL) entries for proper allocation, identify reclassifications, explain variances, and analyze accounts to prevent year-end audit issues. The Staff Accountant will also develop and recommend new procedures and processes for accounting operations, serve as an accounting business partner for assigned functions on moderately complex issues, and analyze/reconcile selected accounts and cost discrepancies. Effective communication with field associates, corporate support staff, and management is crucial to ensure accounting issues are addressed appropriately. This role involves statistical and financial analysis, independent judgment, and protection of Petco's accounting data. The Staff Accountant will rotate through various accounting functions, gaining a comprehensive understanding of processes and their impact on the company. Flexibility and availability to support different accounting areas (General Accounting, Inventory Accounting, Accounts Payable, etc.) are expected. The role requires working productively amidst ambiguity, accepting constructive feedback, and protecting confidential information. Identifying process weaknesses, proposing improvements, and collaboratively implementing solutions to drive efficiency and profitability are key responsibilities. The position also involves performing analyses of actual versus budget, reclassifying errors, explaining variances, and instructing other departments on proper expense classification. The accounts analyzed may be complex, requiring a thorough understanding of accounting principles gained through practical experience. The Staff Accountant will provide clear explanations to non-accounting personnel. Specific duties may include high-level account reconciliations, research in conjunction with Accounts Payable Dispute Resolution (APDR), reviewing vendor setup changes, providing Sarbanes-Oxley (SOX) controls, reconciling management review control accounts, publishing reports, analyzing aging schedules, reviewing specialist work, maintaining department databases, completing journal entries, and understanding the purpose of owned accounts and offsetting activity. General Accounting duties include responding to GL information requests, preparing accruals and re-classes, assisting the field with P&L variances, managing monthly utility accruals and variance analysis, assisting with expense account reviews, managing payroll recognition, reconciling bank accounts, managing PTO accruals, and tracking unclaimed property. Inventory Accounting duties include facilitating stock ledger to GL interface, performing controls, completing inventory reports, reviewing weighted average costs, completing borrowing base certificates, evaluating wholesale inventory and sales activity, completing Census Bureau surveys, and responding to P&L hotline inquiries related to stock ledger activity. Lease & Fixed Asset Accounting involves reviewing and disbursing monthly payments, preparing month-end journal entries for property accounting, preparing schedules for prepaid rent and security deposits, assisting with annual budgets, and preparing year-end audit schedules. Payroll duties include intermediate knowledge of PeopleSoft (PSFT) payroll, analysis of compensation, W-2, and GL issues, and frequent interaction with management and employees. Physical Inventory Accounting involves assisting with inventories, journal entries, reconciliations, and reporting. Sales Audit involves reviewing and closing stores from Retail Sale Audit (ReSA), resolving store holds, reviewing bank statements, tracking bank reconciliations, maintaining databases, addressing counterfeit bills, and reviewing third-party gift card requests. Tax duties include basic corporate income tax law knowledge, applying GAAP and IRS law differences, assisting with federal tax provisions, and preparing information for financial statements. Sales & Use tax duties involve monthly data collection for tax returns, processing personal property tax bills, assisting with audits, and processing PICO releases. The role requires independent work with some supervision and periodic monitoring. This position will not directly or indirectly supervise or manage any partners. The Staff Accountant must prioritize work assignments, solve moderate to complex problems, and escalate larger issues to their supervisor. This role is flexible and mobile to support various accounting areas as needed, validating the accuracy and integrity of financial data through controlled processes.

Requirements

• A 4-year degree in Accounting/Finance or an equivalent combination of education and relevant experience.
• A solid understanding of accounting principles equivalent to a college level Intermediate Accounting course.
• Previous experience with and/or the ability to: Communicate well in English and convey accounting concepts to non-accounting associates.
• Good interpersonal communications skills and interaction with other department personnel as well as senior management.
• Intermediate to advanced knowledge of most Microsoft Office Suite applications (e.g. Excel, Word, and Access) and 10-key by touch.
• Must be accurate, detail oriented, proficient with personal computer based programs, and trainable on company specific systems.
• Interact with peers and leaders of the business with poise and confidence.
• Analyze business decisions critically and engage in constructive conversations regarding alternative points of view when needed.

Nice To Haves

• A 4 year college degree in Accounting/Finance or a minimum 3 to 5 years of work experience at the level of junior or staff accountant preferred.
• Knowledge of the fundamentals associated with different functional areas of Accounting.
• Management of multiple concurrent projects/priorities at one time.
• Previous working experience with PeopleSoft financial software.
• Certified member of the Institute of Taxation CMI for Sales Tax preferred.

Responsibilities

• Participate in the month-end closing process.
• Monitor entries in the General Ledger (GL) to ensure appropriate allocation.
• Determine if reclassifications are required.
• Explain variances.
• Analyze various accounts to avoid year-end audit exposure.
• Develop and recommend new procedures, processes and policies for the accounting operations of assigned function.
• Serve as accounting business partner to assigned function on issues that are moderately complex.
• Analyze, research and reconcile selected accounts and cost discrepancies.
• Effectively communicate with field associates, corporate support staff and management to ensure issues relating to accounting are brought to the appropriate individuals for action.
• Perform accounting duties and control activities to ensure financial results are reported without error.
• Research and analyze selective data sets and/or accounts pertaining to the duties of the specific functional area of accounting being performed.
• Prepare month-end journal entries, reconciliations, budgets, forms, reports, and schedules relating to the accounts in the specific area of focus.
• Effectively communicate with field partners, corporate support staff, and senior management, ensuring issues related to accounting are communicated to the appropriate impacted partners for action.
• Analyze problems, research the root causes, and overcome roadblocks to functional success.
• Perform additional duties as required, including but not limited to special projects as assigned.
• Rotate through various functional areas of Accounting learning the processes, understanding the relationships between the groups, and the overall impact each team has on Petco.
• Be flexible and available to provide coverage and support for positions in various functional areas of accounting (Example: General Accounting, Inventory Accounting, Accounts Payable, etc.).
• Work productively in the face of ambiguity and accept constructive feedback.
• Protect confidential information and respect others that may have to protect their confidences.
• Identify process weaknesses and develop proposed improvements and collaboratively implement solutions to drive efficiency and increased profitability.
• Actively seek development opportunities for hard and soft skills within the organization.
• Seek feedback from senior partners.
• Perform analyses of actual versus budget, reclassifying errors, explaining variances, and interfacing with other departments to give instruction on proper classification of expenses.
• Provide an understandable explanation to peers and management that may not possess accounting knowledge or a financial background.
• Complete high level account reconciliations related to Un-vouchered, tie-out receipts to merchandise, 4 accounts.
• Research in conjunction with Accounts Payable Dispute Resolution (APDR).
• Review vendor set-up and maintenance changes to ensure compliance.
• Provide a level of control Sarbanes-Oxley (SOX).
• Reconcile Accounts – Management Review Controls (MRC) Category 1.
• May Reconcile Accounts - MRC Category 2.
• Responsible for publishing reports, completing analysis of accounts, aging schedules, reviewing specialist work (billing, bank deposits, etc.).
• Responsible for maintaining and updating proprietary department databases.
• Assisting Specialist/Analyst within the department with issues/concerns.
• Engage Senior/Lead/ Manager to resolve issues with other Accounting Departments.
• Understand the purpose of the Account(s) that they "own," and a general understanding of all the off-setting activity.
• Respond to general ledger information requests received on the Profit & Loss (P&L) Hotline from field personnel and other teams outside of accounting.
• Prepare accruals and re-classes as well as assisting the field to better understand their P&L account variances.
• Responsible for the monthly utilities (water, gas, electric, trash, and phone) accrual and variance analysis to budget/forecast.
• Collaborate with the energy/construction team to ensure department level maintenance within Ecova is accurate and complete.
• Assist in the review of Store and General and Administrative expense (G&A) accounts during month-end closing.
• Collaborate with other departments to give instruction on proper classification of expenses.
• Manage Payroll recognition in the general ledger.
• Reconcile bank accounts on a monthly basis.
• Manage accruals for Paid Time Off (PTO) as well as expense recognition.
• Track and report unclaimed property to each state as required.
• Facilitate interface of stock ledger to general ledger; perform associated controls to validate its integrity and accuracy.
• Complete IA-400 Inventory Report.
• Weekly weighted average cost review.
• Complete IA portion of Borrowing Base Certificate.
• Review and address all RMS to GL mapping concerns; submit changes monthly.
• Evaluate wholesale inventory and sales activity for accuracy and validity -- post accruals and follow-up on aged items as needed.
• Complete and submit Census Bureau surveys.
• Research and respond to P&L hotline inquiries involving stock ledger activity.
• Review, update, and disburse all monthly recurring payments, including rents, leases, subleases, Common Area Maintenance (CAM), taxes, etc. in accordance with lease documents provided by the Real Estate department.
• Prepare all month end journal entries relating to property accounting.
• Prepare schedules on the prepaid rent and security deposit accounts on a monthly basis.
• Monitor these accounts and keep the lease administrator informed of the status of these accounts.
• Assist in preparing the annual budget and prepare various year-end audit schedules.
• Review check runs for authenticity of rent payments.
• Prepare amortization schedules for items like Tenant Improvement (TI) Allowances, Prepaid Occupancy Costs, Lease Rights and In Place Leases.
• Perform some of the payroll process tasks as assigned.
• Primary analysis of compensation, W-2, & General Ledger (GL) issues.
• Assist with inventories.
• Journal entries, reconciliations, accounting functions within the group.
• Reporting to the stores, Monthly Aquatic Physical Inventory (MAPI), Monthly Shrink Reporting.
• Deep analysis of issues with stock counts.
• Perform review and close stores from Retail Sale Audit (ReSA).
• Resolve situations that may cause a store on hold, review bank statements, directly contact stores.
• Responsible for T-Rec (reconciliation tool) of banking amounts, discrepancies, etc.
• Keep track of all store bank account reconciliations.
• Maintain the database.
• Address counterfeit bills, maintains discrepancy issues.
• Reviews and distributes mail box.
• Journal Entries for open account stores, etc.
• Reviews 3rd party gift card request.
• Perform majority of journal entries and close T-recs monthly.
• Assist with calculation of Federal tax provisions at quarter and year ends.
• Preparation of information that goes on Petco audited financial statements.
• Monthly sales, use tax data collection to file monthly tax returns.
• Process personal property tax bills paid.
• Sales & Use tax audits.
• Refund projects resulting in revenue benefit to Petco.
• Process Puerto Rico sales tax (PICO) releases for inventory clearance to pay taxes.
• Perform close functions for tax.
• Filing environmental fees, etc. based on state requirements.

Benefits

• Petco offers a comprehensive benefits package that includes health insurance, dental insurance, vision insurance, and life insurance.
• We also offer a 401(k) plan with company matching, as well as paid holidays and paid time off.
• Additional benefits include employee discounts, professional development opportunities, and a wellness program.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level