Department:
Reports to:
Summary: The Property Accountant is responsible for monthly, quarterly and annual financial reporting to owners and other parties and researching questions from owners and Property Managers that arise regarding the reports by performing the following duties.
Duties and Responsibilities including, but not limited to, the following:
1. Prepare financial packages on both cash and accrual basis for assigned property portfolio, primarily utilizing Yardi accounting software (MRI software also used on select properties). Property Accountants shall perform detailed financial analysis of properties and provide assistance to property managers with their financial reviews. Property Accountants are responsible for ensuring accuracy of financial statements while achieving reporting deadlines.
2. Coordinate with property managers and supervisors in a timely manner for review and final preparation of monthly variance report and reporting packages.
3. Prepare monthly bank reconciliations.
4. Assist with owner distribution check preparation and management fee calculations.
5. Prepare journal entries as required for month-end close.
6. Approve weekly payable invoices for respective properties.
7. Prepare and record monthly debt mortgage payments.
8. Assist in the payment, coding, timing and processing of property tax payments as requested by the owner. Work with property management to assist in assessing cash needs and lender coordination of tax payments. Maintain property tax schedule for all property taxes including original valuations and final tax assessments.
9. Annually assist in completing the year-end audits for portfolio properties, as required.
10. Annually assist with the year-end balance transfers and uploading of approved budgets on select properties.
11. Annually assist in tenant recovery reconciliations.
12. Review leases and input into Yardi on an ongoing basis.
13. Maintain a high level of professionalism in providing accounting service for owners and property management.
14. Monthly/Quarterly/Annually assist in completing the required loan compliance documentation.
15. Annually assist in the preparation of tax packs for year-end tax reporting on assigned projects.
16. Other tasks as assigned.
Qualifications:
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Education/Experience:
Bachelor's degree (B.A.) from a four-year College or University; or two years’ experience and/or training related to commercial property accounting.
Language Ability:
Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations. Ability to write reports, business correspondence, and procedure manuals. Ability to effectively present information and respond to questions from managers, clients, customers, and the public.
Math Ability:
Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume. Ability to apply concepts of basic algebra and mathematical equations.
Reasoning Ability:
Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form.
Computer Skills:
To perform this job successfully, an individual should have proficiency with Microsoft Office, including intermediate Excel functions; Candidate should have experience with Yardi (preferred), MRI or similar property accounting software.
Special Skills:
Candidate must possess analytical abilities and be able to take ownership of reporting responsibilities.
Candidate shall be able to work effectively under pressure.
Experience in commercial property management accounting preferred.
Exposure to both accrual and cash accounting preferred.
Experience reviewing financials for reclasses, working with budgets and variances and preparing journal entries preferred.
Work Environment:
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The noise level in the work environment is usually moderate.
Physical Demands:
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision. While performing the duties of this job, the employee is regularly required to remain stationary, use hands, and reach with hands and arms. The employee is frequently required to talk or listen and move throughout the office. The ideal candidate must be able to complete all the physical requirements of the job with or without a reasonable accommodation.