You've learned about our team members and our clients, now it's time to bring the two together and learn more about Accountfully's departments. Each department combines the talents of our team to serve a specific need for our client companies. Staying on the cutting edge of their industries, and always learning, they also help our internal departments understand more about their specialties, so that they can serve clients better.
Let's dive in to our first department in depth; the Inventory Department.
Inventory is a business's biggest resource spend, and most complex asset to understand and manage. Our inventory accounting pro team combine their accounting superpowers to help our clients confidently navigate and better understand their inventory to move forward confidently. We implement and manage systems, and advise on inventory management - both externally and internally. Within Accountfully, our Inventory Department is the team that helps our accounting teams stay knowledgeable on the latest inventory based practices and processes.
Department Mission: To provide expertise and knowledge related to inventory and cost of goods sold (COGS) accounting to Accountfully's clients and to recurring accounting teams within the company. As the designated inventory expert points of contact, we focus on building out more knowledge and expertise related to inventory management, systems, and COGS. Through these efforts, we improve client and internal team inventory based knowledge and confidence.
- Systems Implementation: We implement DEAR and other inventory management systems as needed for clients.
- New Retainer Clients: We design, input, manage, and walk through the items needed in the inventory workbook. In this document, we get a sense of the client company's supply chain, calculate the landed COGS, pricing, do a high level margin analysis, implement inventory evaluation, and accounting process on a monthly basis.
- Hourly Clients and Inventory Consulting: We provide inventory consulting to hourly/a la carte clients. For them, we help with systems management, especially DEAR Inventory Systems.
- Internal Accounting Team Support: We support our existing accounting teams, so they are in the know when it comes to inventory management and systems. For example, we have an internal Slack channel for on the fly questions, as well as office hours to support our team with any questions they have.
- The Go-to Inventory Expert Team: We consistently update and distribute inventory knowledge, internally and externally. We do this by deep diving into industry knowledge, resources, and learning new systems. We are the lead department when it comes to understanding all things inventory, COGS, knowledge systems, processes, and workflows to help clients.
- Post Systems Implementation Management: For clients that have implemented DEAR, we help maintain and update the system post their "go-live" date. This includes items, like making sure inventory transfers happen, sales are fulfilled, PO's are received, and checking on the status of reports to ensure all of the data is accurate and up to date.
Systems, Tool and Methods Used: A huge part of the department surrounds the use and implementation of systems, like DEAR Inventory Systems and the Accountfully Inventory Workbook.
Department Team Member Overview:
- Michael Bourke is the department leader
- Matthew Lynn is the senior accountant that handles the majority of systems implementation and consulting
- Sara Fox does recurring client work and DEAR inventory onboarding
Team Member Bios
Each member of the team brings unique and diverse experience to the table; both professionally and personally. Here are the highlights of each Inventory Department member's background.
Michael Bourke holds Accounting & Communications degrees from the College of Charleston. He previously worked in accounting in the restaurant industry and the home goods manufacturing industry.
Michael says some of his prior experience has helped bring some key skills to his current role.
"I’ve implemented multiple inventory systems for a few companies prior to working with Accountfully, which has been valuable as we work with clients using various platforms and transitioning from one system to another."
His experience in manufacturing accounting has been valuable in his ability to understand various companies' inventory processes and landed cost calculations.
When Michael isn't killing it for our inventory based clients, he likes to play soccer, enjoys reading, and likes to travel as much as possible. You can read more fun facts about Mr. Bourke in his spotlight here. You can find Michael in the Charleston office.
Matthew Lynn went to Tennessee Technological University for both his undergraduate degree (BS in Accounting) and his Master's (MBA).
His career began at a CPA firm fresh out of college, where he quickly decided that public accounting was not how he wanted to spend his career. He bounced between auditing, governmental accounting, and ended up in more of a corporate accounting role prior to Accountfully.
It was at a large apparel company based in New York City that Matt began to work his way up to their FICO Department (Financial Inventory Control).
Matt explains how this company helped hone the skills he uses now.
"Through my previous company, I developed a specialty in Accounting for Inventory and Cost of Goods Sold. Towards the end, I was tasked with working with Deloitte consultants to build a company-wide Inventory Reserve policy that would meet US GAAP requirements."
Outside of work, the gym is where Matt spends the majority of his time. He says of his weight training ambitions, "I have spent over a decade making weight training a part of my everyday life. When people see a 6'0", 245lb, burly bearded man, an accountant is definitely not the first career assumption that comes to mind."
His other interests include discovering the many restaurants and breweries of his city and finding some body of water to relax on.
Matt is based out of the Nashville office.
Sara graduated from Roger Williams University and has been a long time user of Quickbooks. She started using Quickbooks when I was 16 years old in her first job.
Sara was an Accounting Assistant at a construction/architecture company (Meadors Inc), as well as an Assistant Controller at a busy restaurant group (Poogan's Hospitality) prior to Accountfully.
Her diverse industry experience brings her a wealth of knowledge in her typical duties in the department. This includes tasks like daily recurring data entry work, onboarding new inventory clients, and troubleshooting integration/sync issues.
Sara was born and raised in Maine and is passionate about ocean conservation. She sailed for 4 years professionally after college on the Olympic circuit.
Inline with her Maine heritage, she has a precious Hemingway (polydactyl) Maine Coon cat (also from Maine) that awaits her return home from the Charleston office each day.
More Inventory Focused Resources
The Month End Podcast:
Join The Accountfully Alliance Group:
The Inventory Handbook
Guides and More Downloads:
check out the Accountfully resources page
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Our Inventory team makes for a very eclectic bunch of accountants, all bringing some serious talent to the table. If you need your own team to help manage and advise you on your inventory based company, tell us more about your needs. We'd be happy to hop on a call and see where we can help.