IND_Assoicate

About Lowe’s
Lowe’s is a FORTUNE® 100 home improvement company serving approximately 16 million customer transactions a week in the United States. With total fiscal year 2024 sales of more than $83 billion, Lowe’s operates over 1,700 home improvement stores and employs approximately 300,000 associates. Based in Mooresville, N.C., Lowe’s supports the communities it serves through programs focused on creating safe, affordable housing, improving community spaces, helping to develop the next generation of skilled trade experts and providing disaster relief to communities in need. For more information, visit Lowes.com.

Lowe’s India, the Global Capability Center of Lowe’s Companies Inc., is a hub for driving our technology, business, analytics, and shared services strategy. Based in Bengaluru with over 4,500 associates, it powers innovations across omnichannel retail, AI/ML, enterprise architecture, supply chain, and customer experience. From supporting and launching homegrown solutions to fostering innovation through its Catalyze platform, Lowe’s India plays a pivotal role in transforming home improvement retail while upholding strong commitment to social impact and sustainability. For more information, visit Lowes India

About the Team

The Accounting Department is responsible for ensuring accurate financial management across various functions, including Customer Payments Accounting, Cost and Margin Analysis, Vendor Set-Up and Maintenance, Expenses Payables, Invoice Processing and Capital Assets, and Inventory Accounting. This role involves maintaining and reconciling the General Ledger, ensuring the reporting of accurate balances of P&L and Balance Sheet, processing invoices, and supporting comprehensive Reporting and Analytics to guide business decisions. The department also plays a key role in transforming IT tools and systems to streamline accounting processes, improve data accuracy, and enhance overall efficiency, contributing to the company’s financial integrity and operational success.

Job Summary:

The Accounting Associate plays a crucial role in recording & maintaining the accuracy and integrity of the financial records for accounting operations in a timely manner. The individual will be responsible for managing day-to-day accounting tasks, ensuring compliance with accounting standards, ensure the appropriately documented, applicable internal controls and procedures are follwed and support the overall financial health of the business. This position is ideal for candidates who have good understanding of accounting principles, are detail-oriented, analytical, and enjoy working in a dynamic environment.

Roles & Responsibilities:

Core Responsibilities:

• Daily Activities
  • Record and process daily sales transactions, vendor invoices, payments/receipts into the accounting system.
  • Reconcile cash registers and ensure daily banking processes are followed.
  • Perform inventory accounting and ensure proper documentation of merchandise movement.
  • Review and process vendor invoices and ensure timely payments.
  • Assist in following up on customer payments and process accounts receivable transactions.
  • Prepare accounts payable and accounts receivable reports for management review.
• Month-End Close:
  • Support in the accruals, prepayments, and adjustment journal entries.
• Compliance & Audit:
  • Ensure compliance with internal controls, policies, and procedures in retail accounting.
  • Assist in audits and other regulatory financial reporting requirements.
• Cross-functional Collaboration:
  • Collaborate with business operations teams to resolve discrepancies if any with interacton with the related teams.

Specific Responsibilities:

• Address escalations from stores related to Gift Cards, Payment Services and Daily Summary discrepancies.
• Perform reconciliation of Balance Sheet General Ledgers.
• Collaborate with third-party vendors to resolve issues related to Gift Cards.
• Generate Daily Summary exception reports and address issues by posting corrective journal entries.
• Resolve issues related to missing invoices and sales/refund variances and FITS Failures.
• Address variances arising from Daily Summary and Gift Card transactions (GLSR730A).
• Manage unmatched transactions resulting from Third Party Gift Card sales (e.g., Blackhawk).
• Apply accounting principles to accurately record financial transactions with supporting documentation.
• Collaborate efficiently within the team, balancing multiple processes effectively.
• Enhance customer satisfaction by ensuring all activities meet TAT and are completed with 100% quality.
• Provide ad hoc reporting as requested.
• Work cross-functionally with accounting teams to facilitate issue resolution.
• Extract, cleanse, convert, and present data to meet specified requirements.
• Demonstrate team support by addressing business challenges outside of primary responsibilities when needed.
• Update Desktop Procedures (DTPs) on a quarterly basis.
• Ensure 100% accuracy and timeliness in all deliverables.

Years of Experience:

• 1-2 years of retail accounting experience.
• Experience with accounting software (e.g., Open text, People Soft, Mainframe etc) is a plus.
• Familiarity with POS systems and retail software

Education Qualification & Certifications (optional)

Required Minimum Qualifications:

• Bachelor’s degree in accounting, Finance, Business Administration, or a related field (or equivalent experience)

Skill Set Required

Primary Skills (must have)

• Strong knowledge of accounting principles.
• Excellent attention to detail and accuracy.
• Strong analytical and problem-solving skills.
• Ability to handle confidential information with integrity.
• Proficiency in Microsoft Office Suite, especially Excel.
• Strong organizational and time-management skills.

Secondary Skills (desired)

• Ability to work under pressure in a fast-paced dynamic environment.
• Team player with good communication and interpersonal skills.
• Willingness to learn and take on new responsibilities

Lowe's is an equal opportunity employer and administers all personnel practices without regard to race, color, religious creed, sex, gender, age, ancestry, national origin, mental or physical disability or medical condition, sexual orientation, gender identity or expression, marital status, military or veteran status, genetic information, or any other category protected under federal, state, or local law.