Medifast, Inc.

  • Cost Accountant- Financial Planning

    Job Location US-MD-Owings Mills
    Job ID
    Job Category
    Regular Full-Time
  • Overview

    This position encompasses both Finance and Operations support for the distribution, transportation, and manufacturing activities of the organization. It includes supporting the month-end close process with posting GL entries, accruing and allocating expenses, and creating accurate and timely financial reports. This role includes performing monthly reconciliations of inventory and inventory adjustment accounts. The Financial Analyst assists with costing materials, creating budgets, reviewing actual results, forecasting expenses and understanding cost savings opportunities for Manufacturing Facilities, Distribution Centers, and shipping and transportation costs. Also, to collect various forms of statistical data, complete research and evaluate costing of services to help analyze the current and possible future methods of shipping operations supporting domestic and international activities.


    1.   Creates and books manual journal entries into the General Ledger as a part of the monthly financial close process.

    2.   Creates monthly accrual reports as needed – mostly relating to shipping – and book manual journal entries in the General Ledger so expenses hit the correct period.

    3.   Reconciles the USPS shipping account monthly, which includes timely reviewing, and coding of all charges before sending to A/P to be processed.

    4.   Reconciles all supply chain balance sheet accounts monthly, which includes timely preparation and reviewing of information and processing an adjustment journal entry, and submission of final reconciliation schedule.

    5.   Reconciles the Inventory Adjustments monthly and reports final activities in summary to Executive Team.

    6.   Assists with understanding the financial reporting of the DC’s operations during monthly reviews with the Director of Logistics and the Supply Chain Controller.

    7.   Reviews/audits all shipping and freight invoices for discrepancies, processing errors, and overcharges.   Submits claims/disputes for reimbursement through vendor’s established processes.

    8. Works with the Supply Chain Controller to review monthly supply chain operations reporting deck.

    9.   Supports operations group with analyzing new ways of possible cost savings and help calculate the benefit of cost savings initiatives.

    10. Ensures that proper controls are in place within the operations around the assets (inventory, property, plant & Equipment and Medifast activity with 3PL locations). Support the annual physical inventory to ensure accuracy and reporting of counts.   Performs periodic physicals of fixed assets.

    11. Coordinates budget process for distribution network including all aspects of department planning, reporting and subsequent forecasting throughout the year.

    12. Assists Supply Chain Controller with compilation of the annual item level standards budget.

    13. Other duties as assigned.



    • Bachelor’s Degree in Accounting or Finance or equivalent education/experience.
    • 3 – 6 years of accounting experience.
    • Ability to work independently to meet deadlines.
    • Computer knowledge with strong accounting software and/or database with advanced Excel.
    • Ability to multitask working with internal and external resources.
    • Analytical abilities with strong attention to details and accuracy.



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