FLSA Status: Exempt
Reports to: Assitant Controller/ Accounting Manager
Date created/revised: September 25, 2019
Summary/Objective: The property accountant will perform accounting tasks necessary to the administration of property leases and to provide management and owners monthly financial reports.
- Monitor and update cash balances for all properties assigned for incoming and outgoing transactions. Request and record fund transfers when necessary. Notify managers and owners of any cash issues on property.
- Update the actual cash activity in the excel cash flow.
- Collaborate with property managers each month to ensure all tenant billing information is accurate prior to sending monthly statements.
- Adjust and update tenant files in MRI system as needed specifically on the following areas – vacated tenants, tenant billing adjustments (quarterly/annual CAM charges, semi-annual property tax billings, annual insurance billings, and other miscellaneous charges), security deposit application/refunds.
- Ensure payment/disbursements of monthly recurring transactions to include mortgage payments, owner distributions, and ground rent.
- Ensure payment/disbursements of non-recurring transactions to include property taxes, annual insurance premiums, annual ground rent.
- Calculate monthly sales tax liability, where applicable, to the appropriate state and municipality jurisdictions.
- Calculate monthly management fee due to VPI.
- Prepare monthly journal entries related to each project to include all supporting schedules (balance sheet and income statement items) before finalizing the monthly accounting package.
- Prepare balance sheets, income statements, and statements of owner’s equity in accordance to Generally Accepted Accounting Principles (GAAP)
- Prepare monthly bank reconciliations for all cash accounts, including escrows where applicable, for all properties assigned.
- Prepare owner distribution calculations, as needed.
- Prepare depreciation schedules, as needed.
- Communicate with clients, answering any questions regarding monthly financial results/providing any details, as needed.
- Special projects, as needed.
- Analytical Thinking
- Solutions Oriented
Required Education and Experience
- Bachelor’s degree in accounting, finance, business administration with emphasis in Accounting or related field
- Ideal candidate has 3 to 5 years of experience in field
- Experience with MRI and YARDI accounting software and Microsoft Office Suites preferred
- Knowledge of finance, accounting, budgeting, cost accounting and cost control principles, and Generally Accepted Accounting Principles (GAAP)
- Excellent written and verbal communication skills
- Great attention to detail
This job operates in a professional office environment. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets and fax machines.
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. The physical demands of the job, including bending, sitting, lifting and driving. The employee frequently is required to stand; walk; use hands to finger, handle or feel; and reach with hands and arms.
Position Type/Expected Hours of Work
This is a full-time position, and hours of work and days are Monday through Friday, 8:00 a.m. to 5 p.m. Additional hours may be required during month-end close.
We are an Equal Opportunity Employer and do not discriminate against any employee or applicant for employment because of race, color, sex, age, national origin, religion, sexual orientation, gender identity, status as a veteran, and basis of disability or any other federal, state or local protected class.
Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.