Property Accounting Job Description
Property accounting
provides advisement to the Accounting Manager through an in-depth understanding of GAAP, company accounting policies and practices.
Property Accounting Duties & Responsibilities
To write an effective property accounting job description, begin by listing detailed duties, responsibilities and expectations. We have included property accounting job description templates that you can modify and use.
Sample responsibilities for this position include:
Prepare annual budget, monthly, and long-range forecasts for capital spending and depreciation
Provide support for assigned business units including accounting issue resolution, asset maintenance, policy interpretation, and ad hoc projects
Create and monitor capital project work orders, and provide monthly reconciliations on capital investments and associated depreciation
Prepare necessary journal entries for capital activity and reconcile monthly subledger to general ledger
Assist in the analysis of financial data
Assist department with annual and quarterly external audits and participate in preparation of fixed asset and lease schedules for SEC reporting
Provide support for personal property tax filings to outside preparers
Identify, test, and implement process improvements to gain efficiencies
Develop/update documentation and training materials for existing policies and procedures for all areas of responsibility
Manage NNN lease operations
Property Accounting Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Property Accounting
List any licenses or certifications required by the position: CPA, CHFP, CMI
Education for Property Accounting
Typically a job would require a certain level of education.
Employers hiring for the property accounting job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and University Degree in Accounting, Finance, Education, Business, Real Estate, Management, MBA, Business/Administration, Accounting/Business, Associates
Skills for Property Accounting
Desired skills for property accounting include:
Financial policies and procedures and internal controls
Excel
Accounting principals and practices
US GAAP
Group Depreciation would be an advantage
Excel and other MS Office applications
Funds assigned to the team
Mortgage agreements and management agreements for assigned properties
Accounting principles and practices
Controller
Desired experience for property accounting includes:
Oversee monthly and quarterly close process for all domestic properties for three public companies including providing reporting packages to Controllers
Interface with asset managers and property managers
Provide oversight of Build-to-Suit funding and close-out process
Manage escrow liabilities, letters of credit and cash security activities
Interface with Asset Managers, Controllers, Treasury, Tax, Financial Reporting and Financial Planning and Technical Analysis groups
Work closely with various departments such as Asset Management, Property Management, Compliance, Corporate
Property Accounting Examples
1
Property Accounting Job Description
Job Description Example
Our innovative and growing company is searching for experienced candidates for the position of property accounting. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for property accounting
- Varied special projects in reporting, ad hoc tasks, process improvements on-going strategic initiatives
- Daily accounts receivable postings
- Invoice and Process Brokerage Commissions
- Prepare monthly property GAAP financial statements
- Calculate funds available for distributions monthly
- Our passion around great customer service and experience
- We believe in autonomy and reward associates who take initiative
- Accounts reconciliations
- Calculating and raising charges
- Monitoring outgoing costs and budgetary control
Qualifications for property accounting
- Works closely with the GM on various club tasks
- If you thrive in a customer service environment, this might be the job for you!
- Ensure monthly reconciliation of accounts to subsidiary ledgers
- Monthly reconciliation of bank statements
- Record journal entries for misc
- Prepare annual debt service schedule for new budget year
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Property Accounting Job Description
Job Description Example
Our growing company is searching for experienced candidates for the position of property accounting. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for property accounting
- Liaising with Management Surveyors, Property Managers and UK Management team on daily basis
- Conduct property audits
- Prepare periodic and special purpose reports relative to such matters as taxes, rentals and leasing, insurance, facility usage
- Position works cross functionally with the Project Management Office (PMO), Financial Planning & Analysis (FP&A), Financial Reporting, IT, Merchandising, Construction and Development teams on a routine basis to review, analyze, and document capital spending requests
- Position is responsible for managing key controls associated with Property and Lease accounting maintaining associated SOX narratives and work-flows
- Management of property accounting team and monthly close, consolidation and reporting cycles
- Maintaining a comprehensive internal controls structure
- Development, coaching, and training of staff and seniors
- Acquisition support and integration planning and support
- Review the preparation of various financial statements, records and reports
Qualifications for property accounting
- Ensure timeliness of bank deposits and rent roll reconciliations
- Coordinate with off-site property management sites to resolve operational matters that require attention from the main office
- Bachelor’s degree in Accounting or currently pursuing
- 2+ years experience in property management environment
- Able to work in a team setting or independently
- Deadline and task oriented
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Property Accounting Job Description
Job Description Example
Our company is growing rapidly and is looking to fill the role of property accounting. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for property accounting
- Manage and report cash flow and review property tax returns
- Oversight of permanent files and leased properties and associated schedules
- Participate in the development of policies and procedures ensuring adequate internal controls
- Preparation of audit schedules with the GL team to ensure a clean and timely year-end audit
- Work collaboratively with other teams across the business, such as FP&A and Legal
- Approving purchase orders for asset requisitions using the Ariba Spend Management software system
- Approving other manual CAPEX purchases
- Processing construction/project related invoices submitted via the RETS (Real Estate Tracking System)
- Responding to inquiries regarding accounts payable invoices relating to fixed assets to Vendors/Internal Client
- Managing and processing asset management transactions such as transfers and disposals
Qualifications for property accounting
- 6+ years of general ledger experience, or related education
- Commercial real estate experience is preferred
- Monthly accrual preparation
- Consolidated, multi-company financial statements
- Self starter, dedicated, high moral sense, and keeps confidentiality
- Minimum of twelve years of real estate GAAP knowledge with experience in dealing in complex issues related to acquisitions and equity accounting
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Property Accounting Job Description
Job Description Example
Our company is looking for a property accounting. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for property accounting
- Assisting in period end tasks, including the preparation for and run of depreciation/MIS etc
- Completing various asset reporting functions
- Assisting with other Property Accounting tasks as assigned
- Good Exposure to the Complete Asset Accounting Module of SAP (FI-AA)
- Oversee the timely completion of the monthly accounting close for a portfolio of properties
- Responsible for the review and accuracy of the monthly financial statements for a portfolio of properties
- Prepare monthly income statement analysis comparing actual to budget/forecast and prior year, including robust explanations for variances and present results to management
- Review balance sheet account reconciliations, including complex cash accounts
- Prepare quarterly/annual schedules to support financial statements used for public reporting
- Manage day-to-day activities of Senior and Staff Accountants to ensure all assigned activities are completed timely and accurately
Qualifications for property accounting
- This position requires a working knowledge of accounting policies and a demonstrated ability to learn quickly
- Minimum of 5 years of progressively responsible accounting experience in the real estate industry, preferably from more than one perspective
- Proven ability to plan, prioritize and assign work, motivate and coach team members, manage deliverables to budget and schedule, solve problems and make effective decisions
- 4 – 6 years public and or private Accounting, Real Estate Accounting, preferred
- Experience working with high volume transactional activity
- Have 7+ years of Real Estate/Property Accounting or related experience Required
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Property Accounting Job Description
Job Description Example
Our company is searching for experienced candidates for the position of property accounting. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for property accounting
- Continually evaluate system processes across the organization and lead projects to streamline and improve monthly close process
- Ensure support to key customers, including operations and FP&A as needed
- Provide guidance to staff on accounting processes and communicate information required to produce timely and accurate financial reporting
- Manage all aspects of the monthly, quarterly and annual accounting close and financial reporting cycles – including schedules/responses related to audits and inquiries from internal and external business partners
- Document and record ownership-level transactions/adjustments based relevant legal documents
- Demonstrate an understanding of how his/her properties are reported within GGP’s external accounting/reporting
- Responsible for the strategy and supervision of all aspects of the US Property Accounting Department
- Supervise, train and coach staff to attain highest level of efficiency and effectiveness possible
- Coach and counsel employees if performance starts to deteriorate from expected norms
- Develop plan with employees to improve performance at the earliest sign
Qualifications for property accounting
- Undergraduate degree in Commerce, Accounting, or other relevant fields is required
- Desire to complete a professional accounting designation or working towards a designation (CPA)
- Self-motivated, self-starter who can work independently and take initiative to drive change with limited oversight
- Strong relationship building and communications capabilities
- Ability to process information and provide quality analytical output
- Ability to understand, evaluate and manage complex business situations