Property Accountant

Summary:

Maintain general ledger, prepare financial statements, prepare year-end workpapers for audit and tax return preparation for assigned properties in the portfolio. Assist in budgeting process; prepare bank reconciliations and review tenant reconciliations for CAM, RE Tax, and percentage rents.

Responsibilities:

  1. Budgets
    • Assist in preparation of annual property budgets (including capital) for upcoming year
    • Assist Property Manager with certain line items (income and expenses)
    • Review rent assumptions from Leasing Team
    • Review projected CAM & RE Tax recovery rates and percent rent
    • Review budget prior to final approval by management
    • Prepare executive summary based on approved budgets
    • Prepare on accrual & cash basis
  2. General Ledger Maintenance
    • Review G/L monthly to verify accuracy of transaction postings
    • Prepare journal entries as necessary including recurring
    • Interface with corporate accounting, property management, accounts receivable, accounts payable and lease administration to resolve issues
    • Approve & code certain AP invoices
    • Review capital expenditure change orders, and update job cost budgets as needed.
  3. Financial Reporting (Internal & External)
    • Prepare monthly cash flow projections
    • Prepare financial statements including variance analysis periodically including reforecasting
    • Prepare balance sheet reconciliations and schedules as required for internal and external reporting.
    • Prepare financial package for outside partners in accordance with management/LLC agreement
    • Participate in monthly meetings to review cash flow projections and financial statements
    • Assist in lender reporting as required in property loan agreements.
  4. Partner Distributions/Contributions
    • Budget partner calls and distributions per original cashflow projections
    • Prepare partner calls and distributions as required
    • Maintain schedules of partners’ percentages in accordance with LLC/LP agreements
      • Adjust projected distributions & contributions to assure adequate cash balances
  5. Bank Reconciliations
    • Prepare bank reconciliations for entities assigned
    • Resolve / research open reconciling items
  6. Tenant Billings / Charges
    • Review tenant reconciliations for CAM and RE Taxes
    • Assist in tenant billing inquiries and provide information to Collections Group
    • Review percent rent calculations and posted charges
    • Review all Tenant charges
  7. Year End Work Papers
    • Finalize CAM expenses to prepare annual tenant reconciliation
    • Make necessary year-end adjustments to finalize financial statements and tax return
    • Prepare appropriate schedules to support year end balances
    • Assist in K-1 estimates required various times during the year
    • Assist in year-end audit requirements/schedules

Qualifications and Requirements:         

  • Bachelor’s degree in Accounting/Business
  • 2+ years’ work experience in related field
  • Experience with property management software preferred
  • Knowledge of commercial real estate, lease documents, lease language & interpretation preferred
  • Proficient in the use of Microsoft Word, Excel and Adobe
  • Strong verbal and written communications skills
  • Well organized, self-motivated, and detail oriented, with excellent interpersonal skills
  • Demonstrated ability to take initiative, set priorities, handle a wide range of tasks simultaneously, and shift priorities in a fast-paced environment
  • Must be flexible and willing to take on new assignments
  • Excellent judgment and discretion are required

If interested please email Wes Tyrrell at wtyrrell@daleyaa.com.

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