Full-Time

Sr. Accountant

Posted on 11/14/2024

Teamshares

Teamshares

51-200 employees

Facilitates employee ownership of small businesses

Fintech
Social Impact

Compensation Overview

$70k - $90kAnnually

Senior

Orlando, FL, USA

Position requires onsite presence in Orlando, FL.

Category
Financial Accounting
Financial Analysis
Management Accounting
Accounting
Required Skills
Excel/Numbers/Sheets
Requirements
  • Bachelor’s degree or advanced degree in Accounting, Finance or related field.
  • CPA preferred but not required.
  • 5+ years of professional accounting and financial reporting experience.
  • Must have inventory accounting experience.
  • Strong working knowledge of accrual basis accounting and overall US GAAP.
  • Strong Microsoft Excel skills and proficiency with other Microsoft Office applications.
  • Experience implementing ERP or stand-alone accounting/finance systems preferred but not required.
  • Experience using Oracle NetSuite for various accounting and operational functions.
Responsibilities
  • Lead the general ledger, financial reporting, including budgeting and forecasting functions of the business.
  • Collaborate with Teamshares, parent company, the internal team, My Financial Partner © and other stakeholders to implement and continuously improve U.S GAAP practices and controls that safeguard financial assets of the Company.
  • Prepare various analyses that inform management about the past, current and future state of the business. E.g., Store level sales and profitability, product movement, segment analysis, etc.
  • Partner with the management and operational team to prepare financial budgets, forecasts, and other strategic projects.
  • Manage the completeness and accuracy of the company’s P&L, balance sheet and cash flow at both the store level and consolidated level.
  • Oversee all accounting operations including Billing, A/R, A/P, GL inventory accounting, Fixed Assets and proper revenue recognition on a daily basis.
  • Prepare and manage month-end and year-end close processes to ensure accurate and timely reporting. This includes preparing and booking accruals and adjusting journal entries.
  • Document current financial process, recommend improvements and management continuous improvement of accounting and finance functions.
  • Lead the development of internal control policies and procedures appropriate for the current team and functions.
  • Assist with year-end audit requests from KPMG at the parent level.
  • Be comfortable training on the dated legacy ERP and accounting system and be the lead liaison for new ERP system implementation.
  • Perform risk management activities and develop plans to minimize risk.
  • Perform various bank account reconciliations and reconciliations for other balance sheet accounts.
  • Coordinate inventory cycle counts throughout the year and full-counts at year-end.
  • Support management and current team with other operational functions around HR, payroll, sales taxes, etc.
  • Be on-site to learn the current accounting and finance functions, drive improvements and build rapport with the team majority of the time.

Teamshares facilitates employee ownership of small businesses, particularly targeting those whose owners are nearing retirement. The company purchases these businesses and gradually transfers ownership to the employees, starting with 10% of the stock and increasing to 80% over 20 years. This model helps maintain business continuity and prevents job losses that can occur when a business is sold or closed. Teamshares generates revenue from the profits of the businesses it acquires and also offers proprietary software, education, and financial products. By promoting employee ownership, Teamshares not only supports the financial stability of employees but also strengthens the local economy by preserving small businesses. The company focuses on recruiting dedicated leaders to manage these businesses, ensuring they are well-trained and equipped to succeed.

Company Stage

Debt Financing

Total Funding

$214.3M

Headquarters

New York City, New York

Founded

2019

Growth & Insights
Headcount

6 month growth

5%

1 year growth

0%

2 year growth

5%
Simplify Jobs

Simplify's Take

What believers are saying

  • Teamshares has acquired over 90 SMEs, creating 2,600 employee shareholders.
  • The company secured $225 million in debt financing for further growth.
  • Expansion into Japan indicates international interest in their business model.

What critics are saying

  • Increased competition from tech-enabled platforms like SKROL.
  • Potential cultural and regulatory challenges in Japan expansion.
  • Reliance on debt financing could pose risks if businesses underperform.

What makes Teamshares unique

  • Teamshares is a market leader in small business employee ownership.
  • The company uniquely targets retiring small business owners for acquisitions.
  • Teamshares gradually transitions businesses to 80% employee ownership over 20 years.

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