Property Accountant Job Description
Property Accountant Duties & Responsibilities
To write an effective property accountant job description, begin by listing detailed duties, responsibilities and expectations. We have included property accountant job description templates that you can modify and use.
Sample responsibilities for this position include:
Property Accountant Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Property Accountant
List any licenses or certifications required by the position: CPA, CHFP, PA, CMI, CMA, W-9
Education for Property Accountant
Typically a job would require a certain level of education.
Employers hiring for the property accountant job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Collage Degree in Accounting, Finance, Business, Real Estate, Education, Management, Finance/Accounting, Business/Administration, Economics, Professional Accounting
Skills for Property Accountant
Desired skills for property accountant include:
Desired experience for property accountant includes:
Property Accountant Examples
Property Accountant Job Description
- A bachelor’s degree with an emphasis in finance or accounting
- A few years of experience in property management or property accounting
- Prepare journal entries in compliance with GAAP and the company's policies and procedures
- Oversee monthly bank reconciliations
- Assist with monthly rent reconciliation, quarterly commitments schedules and other monthly reconciliations
- Assist with the fixed asset capitalization process by gathering and summarizing necessary data within departmental timelines
- Analyze assigned projects to determine if they are in accordance with established policies and guidelines
- Prepare and review journal entries to facilitate the accurate and timely clearing of assigned projects
- Add new assets to the fixed asset system and running monthly depreciation
- Assist with variance analysis of depreciation expense and other related accounts
- Experience with MRI a must
- Detailed oriented and diligent with recurring tasks
- Experience with real estate or comparable software (Yardi preferred)
- Prepare variance analysis
- Prepare monthly and yearly end financials for multiple properties (approximately 6-8)
- A minimum of 2 years of solid commercial (office or retail, preferably
Property Accountant Job Description
- Prepare and review depreciation and fixed asset schedules regularly reconciliation of all accounts
- Preparing monthly FFO/FAD schedules (income statements), Flux Reports, and Variance Reports
- General ledger /journal entry input and reconciliation to sub-ledgers
- Assisting in the preparation of audit work papers
- Updating all capital assets and depreciation
- Preparing sales tax returns
- Scanning General Ledger for miscodings and inconsistencies
- Performing bank reconciliation of all cash accounts, including reserve accounts
- Assisting in the preparation of audit workpapers (analysis and reconcile the accounts)
- Analyzing year-end adjusting entries
- A minimum of three years' experience is required, preferably in real estate-related activities
- Bachelors in Accounting or business-related field
- Reviewing tenant work orders for coding and for sales tax
- Tracking monthly utility expenses
- Perform required analysis and develop external reports for compliance with all agreements (sales & use returns, i&e forms )
- Audit and prepare reconciliation of all accounts
Property Accountant Job Description
- Interface with other personnel in answering questions pertaining to areas of responsibility
- Process and record all cash transactions on a daily basis
- Assist managers in various special projects
- Responsible for construction draws
- Track construction (including lien release tracking) and capital expenditures
- Create monthly reporting packages that are sent to lenders and joint venture partners
- Create original work papers to be used in conjunction with audits
- Prepare real estate tax, operating expense and other escalation billings for tenant
- Work with the Asset Managers and other interested parties to coordinate the creation and flow of financial data, budgets and re-forecasts
- Review and analyze tenant leases
- Proficiency with MS office, spreadsheet applications
- Will look at both commercial or residential experience
- Will eventually handle 10 to 11 properties, but will start with less
- CAM reconciliation experience preferred
- Experience with Yardi software is highly preferred
- Must possess excellent written communication skills and thorough general ledger interpretation
Property Accountant Job Description
- Work with home office personnel (Leasing Coordinator, Construction Manager, Asset Management, ) to maintain the integrity of the accounting system and to facilitate their financial reporting requirements
- Responsible for preparing financial statements and monthly reports
- Prepare monthly financial statement reporting package for assigned entities
- Prepare audit work papers in preparation for year-end audit and work with external auditors
- Assist with budgets for assigned portfolio, which includes expense analysis, financing, and forecasting
- Prepare account reconciliations, maintain accurate records for all transactions and month end closing accruals, adjustments, and monthly work papers supporting all balance sheet accounts
- Review accounts receivable reports and other related reports
- Ensures financial reports tie to general ledger
- Document and record ownership-level transactions/adjustments impacting assigned portfolio of properties based relevant legal documents
- Review financial reports to identify and explain variances
- Proficient in the use of MRI and Skyline systems a plus
- Experience with Yardi a must
- Previous property accounting experience in the hospitality industry
- Full-cycle accounting preferred
- Computer proficiency in MS Word, Excel, and Outlook
- Yardi, MRI, or Argus software preferred
Property Accountant Job Description
- Manner and internal schedules are maintained
- Verify bank reconciliation is complete and ensures all reconciling items are resolved in a timely manner
- Verify that budget information has been properly inputted into system
- Handle client audit requests as needed
- Assist in the setup and transitions of properties which may include loading beginning balance information, sale pro-ration calculations, and closing entries
- Record acquisitions/dispositions of real estate assets
- Prepare monthly/quarterly/yearly financial statements and supporting packages for the management team, investors and lenders
- Assist Treasury with the management of cash flow and cash requirements for the assigned real estate portfolios
- Communicate with Asset Management to assist with preparation of cash position, variance and capex analyses for annual budgets and re-forecasts
- Assist with the provision of information for interim/annual audits and annual tax returns
- Preferably have recent real estate accounting software package such as Timberline, Skyline, and Yardi
- Must have intermediate to advanced Microsoft Word, and Excel proficiencies
- Associate Degree in Accounting required, Bachelor's Degree preferred
- Excellent computer skills including Microsoft Excel skills
- Internal motivation and the ability to work independently with little direction
- Bachelor’s Degree in Finance/Accounting preferred, but will consider experienced accountants with an associate’s degree