Accounting Manager

cpg accounting

Our service is anchored by a best-in-class technology platform, coupled with unparalleled data and workflow optimization tools, giving you the visibility and confidence to make smarter decisions. Our fractional model offers a dynamic workforce solution that provides a cost-effective alternative to hiring full-time talent too early. Start with your sales reps and brokers, and then contact the customer’s AP department for proper routing directions. Post-audit deductions will occur up to two years after a promotional event. Keep a reserve on the balance sheet to account for prior-year events that may not be fully expensed. Trade deductions are taken by customers months after the trade events occur and can be very difficult to validate. Rely on the broker as much as needed to obtain necessary documentation.

Our advanced algorithms unlock valuable insights that drive better decision-making for retailers and CPGs. We will work through your pain points and establish which of our products can solve them. Our dynamic markdown software uses an advanced, data-driven algorithm to analyze a wide range of data points, from product type to seasonality.

This position is responsible for the full accounting cycle, financial reporting, month and year closings, payroll, and banking duties. Timothy Li is a consultant, accountant, and finance manager with an MBA from USC and over 15 years of corporate finance experience. Timothy has helped provide CEOs and CFOs with deep-dive analytics, providing beautiful stories behind the numbers, graphs, and financial models. Because cash basis accounting doesn’t give you holistic oversight of your finances. You can’t accurately calculate your margins or cost of goods sold, so it’s much harder to analyze month-to-month operations and glean insights from your data. The premier CPG data analytics platform for stronger, faster sales growth.

Likewise, Tanner is highly organized and disciplined in his commitment to reporting and providing useful insights and interpretations of financial results. Tanner cpg accounting earned his Accounting degree from Auburn University followed by a Masters of Accounting and a Masters of Business Administration from Samford University.

Revenue For Consumer Products Companies

Like most CPGs, cosmetics typically have limited shelf lives, as these products quickly deteriorate if exposed to extreme temperature fluctuations. Lipstick, blush, eye shadow, and foundation are cheaply sold in individual packages, and after using the products, consumers either discard or recycle the empty vessels.

cpg accounting

Engage your broker in helping manage this process and hold customers accountable. Based on those deals, you will see deductions occur from accounts receivable payments, sometimes without authorization. Expect your sales reps to acknowledge, review and understand any deductions that come through. For instance, it’s tempting for new companies to take the cheaper route and employ a bookkeeper over an accountant. The former costs less but doesn’t have the same background, knowledge, or skillset.

Managed Accounting How A Hypergrowth Cpg Company Reduced Aged Receivables By 80% With A Simplified Accounting Function

Track your overall on and off-target SKU pricing shares in the market. Identify pricing issues at customer sites and act on pricing compliance accordingly. Track the freshness of your stock in the market and actively resolve freshness issues identified https://www.bookstime.com/ at your customer sites. Identify freshness issues patterns in your channel to pre-empt overstock. Best retail intelligence solutions helping FMCG / CPG businesses to increase the effectiveness of commercial operations and sales excellence.

  • Safeguarding cash flow is on every CFO and finance leader’s plan for 2022.
  • AI-driven insights for innovative food and beverage brands, delivering real-time value to marketing, sales, and NPD teams.
  • CPG software provides businesses with the tools to manage and keep track of product manufacturing and warehousing processes, as well as sales and distribution operations.
  • Because shelf space is a finite commodity, the CPG market is highly competitive.
  • Marie Sue joined IronClad with more than16 years of diverse finance and accounting experience across industries including CPG, SaaS, manufacturing, electrical, construction and hotel/restaurant services.
  • Kforce is a solutions firm that builds and manages expert teams in technology and finance & accounting.

He loves being in the outdoors whether it be camping, trail running, hiking, or fishing. Kristen has spent her career working with small businesses and entrepreneurs across a vast array of industries in both accounting and strategic operations roles. She has had the opportunity to lead teams both nationally and internationally taking on anything from new product go-to-market plans, software implementations, performance management processes, and anything in between. Always looking for measurable efficiencies and process improvements, Kristen helps drive companies to scalable growth. She hails from the Midwest with a double major in accounting and business management from Purdue University in West Lafayette, Indiana.

Carino Public Accounting Services

Turing optimizes, streamlines, and intelligently guides CPG product development. Organizations spend millions endlessly collecting and aggregating data to build accurate models. Turing best-in-class algorithms require significantly less data than generic ML/AI.

cpg accounting

This would enable their teams to course-correct their dunning strategies proactively and reduce Days Sales Outstanding . FinanceIdentify your financial goals and create a realistic plan for your retirement. If your company has hit a growth spurt, a point of resistance, or is confronted with the need to professionalize, we are for you.

Association Of International Certified Professional Accountants

Nadia joins IronClad after spending 10 years as a procurement officer in the South African manufacturing sector, prioritizing the provision of cost-efficient, high-quality goods and services for multiple companies. Upon her arrival in Austin, she was able to apply the expertise she acquired back home to help manage the accounts of multiple commercial properties in and around the area. She excels in operational accounting, HR, and providing personable customer service. She thrives on her ability to learn quickly and adapt to her clients’ needs. In her spare time, she enjoys baking, crocheting, and attending concerts in the Live Music Capital of the World.

cpg accounting

Under this accounting method, you would recognize revenue when it’s earned — not when cash changes hands. Looking back at our previous example, you would recognize your sale to the local store upon delivering those goods — not when they pay the invoice 30 days later. Many young companies elect to record financial data based on the movement of cash. You sell goods to a local store, which has 30 days to pay your invoice. Since you’re tracking cash, you wouldn’t recognize a sale until the store actually pays you in 30 days or so. This method is known as cash basis accounting — and it’s not the most strategic method for a new CPG company. Optimize your operations with software analytics for retail and CPG businesses.

Get A Demo Of Autonomous Receivables Platform For Your Business

This allows you to calculate a product’s optimal discount price which reduces your waste bill by maximizing sell-through and minimizing loss. It takes your data and quickly turns it into actionable alerts that show where, when, and why items are not available. Stormy has worked with small businesses to corporate organizations keeping track of their financial, employee, and process information. Her specialty is in organizing and streamlining procedures to produce efficiency of labor and quality of product. She worked as a Corporate Bookkeeper for Performance Management, LTD, which involved trusts, oil and gas revenue, auto dealerships, and property management before transitioning into the Consumer Package Goods industry. As a licensed CPA, Courtney began her career in public accounting with a local auditing firm before transitioning into the SAAS industry, the Non-Profit industry and then the Consumer Packaged Goods industry.

KPMG’s insights on industry ASC 606 implementation.With the new revenue recognition standard effective date approaching, KPMG offers insights on the most significant industry issues. Effectively communicate with teammates, business partners, vendors and customers while maintaining a positive attitude. Assist with financial analysis (balance sheet and P&L), variance analysis and ad hoc analysis, as required. Participate in a wide variety of special projects and compile a variety of special reports. Support the management of inventory, process transactions, adjustments, transfers and receipts.

Andy has deep expertise in the CPG industry having held positions with Lavva, Oatmega Bar, Live Soda, Stubbs Barbecue and Whole Foods Market. He is experienced in both the co-packing and manufacturing models and understands what it takes to compete and grow in both the natural and conventional CPG space. A Certified Management Accountant , Andy earned his MBA from Texas State University and his Bachelor’s in accounting and financial analysis from SUNY Buffalo.

  • He partners with clients to provide strategic guidance and support including strategic planning, financial modeling, financial statement review and board meeting support.
  • This is a privately owned, multinational packaging group servicing fast service food chains.
  • Kristen has spent her career working with small businesses and entrepreneurs across a vast array of industries in both accounting and strategic operations roles.
  • Organizations spend millions endlessly collecting and aggregating data to build accurate models.
  • Master data management presents a unique challenge to CPG companies due to the large volume of items, vendors and customers, and frequent changes to item attributes.
  • 2 Access to online services must be established through the CPG debit card to use BillPay with the CPG account.

There was also a lack of inter-team visibility regarding customer communication. Danone’s biggest challenge was the lack of visibility into the collections process. This prevented them from focusing on more strategic tasks like creating targeted dunning strategies for different risk categories (high, medium, and low-risk).

Sr Accountant

Her background encompasses both operational accounting and accounting management across a variety of industries, including manufacturing, consumer packaged goods and land development/homebuilding. Abla earned her Bachelor of Science in Accounting from Colorado State University. In the Controller role with IronClad, Tanner utilizes his nearly 20 years of accounting industry experience and his drive for results to help clients move their business forward into the future. Tanner has experience in industries ranging from manufacturing and consumer packaged goods to property management. He has successfully led teams through integrations, systems implementations, and plant expansion projects.

Our founding team brings C-level experience from category-defining enterprise companies, with an extensive background in CPG. We unlock opportunity loss at the intersection of sales/distribution, pricing/promotions and inventory.

Accounting, Bookkeeping & Consultancy Svcs ; Accredited Tax Practitioners

In her role at IronClad, she provides enhanced technical accounting support for both established and developing companies. From performing bank and other account reconciliations to producing understandable supporting documentation, Courtney offers a wide range of accounting assistance and clarity for her clients.

IronClad Consulting, LLC is a professional services firm that partners with early-stage and high growth companies that need financial expertise and resources to advance their business and drive growth. Providing full stack financial leadership and support, our experienced consultants leverage a team delivery approach to provide the right balance of expertise to meet the unique needs of each client. Greg is an experienced CFO that supports IronClad clients throughout all phases of the start-up cycle—from early-stage angel funding—through venture-backed financing. He lends his extensive experience to help his clients develop a scalable finance and operational model to achieve their short- and long-term business objectives. CPG manufacturers outsource customer interaction and support functions to reduce costs, without impacting the level of customer service provided. Most customer interactions in the CPG industry relate to consumer and customer service, online sales support, and helpline. Infosys has a robust portfolio of clients supported across multiple shifts and geographies, enabling significant cost savings.

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