Oct 08, 2021

Property Accountant

  • OneTrust
  • Oakland, CA, United States

✍🏾Job Description

Well Known Real Estate Company seeking a Property Accountant to be responsible for (1) the accurate, timely and complete preparation of all required financial information for their assigned properties (2) the timely identification and communication of issues relating to their properties and (3) ensuring that all accounting activities within the assigned area of responsibility comply with corporate policies and procedures. 
Essential Duties & Responsibilities
General Responsibilities:
  • Maintain the property’s books and records in accordance with the company’s policies and procedures.
  • Ensure compliance with the company’s internal controls and separation of duties.
  • Attend periodic Asset Team meetings and provide assistance with requests.
  • Assist Accounting Manager with accounting projects.  This may include, but is not limited to special transactions (i.e. acquisitions, dispositions and refinancing of property) and systems related projects.
  • Read and understand the partnership (or LLC) agreement, the property management agreement and any loan documents related to assigned property or properties.
  • Ensure the timely identification and communication of issues relating to their assigned entities to appropriate parties.
o   Identify new or changing circumstances at the earliest opportunity and appropriately communicate in a timely manner.  Follow through to be certain that identified issues are brought to closure on a timely basis. 
o   Promptly respond to inquiries from internal clients and external contacts.  Follow through to ensure resolution.
o   Maintain regular contact and build solid working relationships with Property Managers, Lease Administration and Asset Teams within assigned properties to ensure a high level of customer service as measured by manager observation and feedback from principal customers. 
o   Reach out to peers to identify solutions to issues.
o   Bring issues and concerns to manager’s attention on a timely basis.
  • Demonstrate technical proficiency:
o   Take initiative in understanding accounting treatments applicable to their assigned entities.
o   Deliver fluctuation analyses that are well written, complete and require minimal revision.
o   Demonstrate a full understanding of system capabilities and limitations and proficiency in its use including recoveries (mid year true up and budgeting), roll up and deferred rent calculations.
o   Implement new processes and procedures accurately and on a timely basis.
  • Promptly identify policies and procedures that need revision and advise manager.  As requested, participate in updating or revising policies or procedures delivering work products that are well written, thorough, and technically correct.
  • Actively participate in department training and education programs. Seek out opportunities to contribute to the success of programs by identifying areas where training is needed.
  • May be asked to participate in special project work as opportunities arise.  Take ownership of the project and make a meaningful contribution to its success.  Follow through to completion.
  • Serve as a resource for other department members in areas of expertise. 
  • Seek to improve the closing and reporting processes by identifying new procedures that reduce workload.
  • Provide excellent customer service to both external and internal customers by:
o   Building positive relationships with customers
o   Taking initiative to identify customer needs and provide service that meets or exceeds customer expectations  
o   Communicating effectively in person as well as via telephone and email.
o   Resolving difficult situations through the use of effective problem-solving skills
Monthly Responsibilities:
  • General Items:
o   Prepare bank reconciliations for all property bank accounts for review and approval by Accounting Manager.  Ensure proper and timely resolution of reconciling items as appropriate.
o   Prepare the monthly property management fee calculation for review and approval by the Property Manager and Accounting Manager.
o   Prepare the monthly construction management fee request for review and approval by the Property Manager and Accounting Manager. 
o   Process monthly late fees and rent rolls.  Post rent roll upon approval by the Property Manager. 
o   Assist Property Manager in review of accounts receivable aging to identify collection issues.  Work with Property Manager, Asset Manager and Accounting Manager to determine appropriateness and amount of reserves for past due amounts.
o   Prepare or assist Accounting Manager in the preparation of loan compliance reporting (if applicable).
o   Update job cost summary with check number and date paid in appropriate section of the report.
  • Cash Basis Reporting:
o   Prepare monthly cash basis journal entries as needed to properly reflect all financial activity on a cash basis.
o   Generate monthly cash basis operating statements for the Monthly Asset Plan (MAP).
o   Prepare preliminary variance explanations for review by Property Manager and assist with preparation of final explanations of the monthly cash vs. budget variance report.
o   Prepare preliminary monthly reforecast for review by Property Manager and assist with preparation of final reforecast.
  • Generally Accepted Accounting Principles (GAAP) Basis Reporting:
o   Prepare monthly entries for prepaid expenses, accrued liabilities, depreciation, amortization, and straight-line rent adjustments.
o   Prepare GAAP basis financial statements including appropriate supporting documentation (see quarterly responsibilities below).
o   Maintain the Fixed Asset sub-ledger as described in department policies and procedures.


Job Requirements:

Essential Skills & Qualifications:
  • Strong working knowledge of GAAP as evidenced by 2 years of accounting experience using GAAP.
  • Strong working knowledge of issues, procedures and practices associated with property accounting including but not limited to cash and GAAP accounting, researching and reconciling accounts, preparing balance sheets, income statements and statements of partners’ capital, recording periodic journal entries, and preparing bank reconciliations as evidenced by 1 year of experience performing these activities.  
  • Strong working knowledge of General Ledger, Fixed Assets, Accounts Receivable and/or Accounts Payable accounting using complex accounting software as evidenced by one year of experience performing related activities.
Education/Experience:
  • Bachelor’s degree (B.A. or B.S.) preferred.
  • Minimum 2 years’ experience in accounting.
  • Experience with a national accounting firm and/or real estate investment/commercial property management firm highly desirable.
  • Experience with Yardi desirable.

 

 

RSI is an Equal Opportunity Employer

We care about diversity and inclusivity and foster an environment that celebrates individuality and enables you to be your best self. As an equal opportunity employer, we welcome all applicants regardless of gender identity or expression, sexual orientation, national origin, religion, marital status, veteran status, age, disability, or race. status, veteran status, age, disability, or race.