Accounting Manager For A Distributor Of Electronic Components
Job Title: Corporate Accounting Manager
Type of Company: A distributor of electronic components to the automotive and marine transport industries.
Education: BA, Sociology & Psychology •• MBA, Business Management
Previous Experience: I started as a receptionist at the company I work for and moved into accounts payable when a position opened up. As business grew, my job expanded and more staff were hired to assist me.
Job Tasks: I manage the accounts payable department for the entire company. We enter invoices, print checks and schedule payments to our suppliers. I also work with the purchasing department and warehouses to research any discrepancies between the invoices from vendors and the items ordered or received on our purchase orders.
I also manage our accounts receivable, collecting and posting payments from our customers. I work with the credit manager to keep the collections coming in as quickly as possible and we work together with our sales department and the customer to resolve any issues or problems with delivery or payments.
I reconcile the general ledger every month to make sure that the "accounting bible" and the details of all transactions in Accounts Receivable, Accounts Payable and Inventory match. At the end of every quarter, I have reports that I fill out and prepare for the Controller of the company.
I run sales reports and look for any abnormalities in the Gross Profit of any transaction which would indicate that a cost or resale price was not recorded correctly. Once any unusual items are found, I research what the transactions should be and correct it in the system.
Every year in April, I prepare our books for a bank audit and get everything in order for the accounting firm to prepare our year-end tax statements. I also prepare all financial statements for our Canada and United Kingdom offices so that the tax accounts can be filed by those countries' deadlines each year.
Best and Worst Parts of the Job: The best part of my job is that I get to be involved in all aspects of our company's business. I have been able to learn and be involved in every aspect of a transaction from receiving a sales order from a customer, placing a purchase order with a supplier, receiving the product into the warehouse, shipping the product to the customer, billing the customer, paying the supplier and then collecting the payment from the customer.
The worst part of my job is dealing with an upset customer or supplier. One thing I have learned is you can't make everyone happy.
Job Tips: An education is very important, so learn everything that you can in a classroom. Apply what you learn in the field. Make sure to observe everyone around you and ask questions. There is no such thing as a stupid question and you are better off asking a question about something you are unsure of than of doing it incorrectly. If you do make a mistake, let someone know. All mistakes are fixable and are always easier to fix if they are known from the beginning and don't get a chance to compound.
Additional Thoughts: Many people hear the word accounting and assume that I am just a "number cruncher." The fact is that every transaction in a business comes under the purview of accounting. Anyone who wants to get into accounting should also be aware of the day-to-day processes of the business so that you understand where the numbers come from and what they mean. In order to succeed in accounting, a person needs to have a full understanding of what is behind the numbers.