The Property Accountant is responsible for the financial reporting for all assigned properties with emphasis on account analysis, journal entries, and bank reconciliations in accordance with modified accrual basis of accounting.
Monitor properties cash position on a daily basis.
Reconcile monthly bank and mortgage statements for cash and escrow accounts.
Review and approve tenant billings, chargebacks, and any other necessary adjustments.
Confirm cash receipts on all tenants who pay their rent and CAM via ACH.
Review invoices for proper account coding and approval.
Approve invoices for payment based on property cash flow.
Ensure all mortgages, real estate tax bills, insurance bills, and ground lease payments are paid timely.
Assist the Asset Manager in processing quarterly distributions.
Maintain a complete and accurate set of accounting work papers for each assigned property.
Review and reconcile G/L accounts. Prepare and post necessary journal entries to maintain complete and accurate books for assigned properties.
Complete month end close for assigned properties.
Record all necessary accruals within 5 business days following the last day of the month.
Work with Property Managers to develop budget variance explanations.
Prepare monthly financial package as required by the management agreement or owner of the assigned property.
Assist Property Managers in the preparation of the annual property budget.
Create reforecast budgets for all assigned properties.
When applicable, calculate allowable gross-up numbers for the budgets.
Review budgets and comments provided by the Property Managers for accuracy and completeness.
Load budget detail into Kardin/Yardi.
Assist the Property Mangers in completing annual operating expense reconciliations timely and accurately.
Record refinances, sales, and casualties.
Help develop and update Operational Accounting Policy and Procedures.
Close the month and the year in Yardi.
Record the necessary reclassification entry of PY net income/loss as part of the year end close.
Attend and participate in periodic training sessions.
Strive to be a team player, working in a friendly and professional manner with both internal and external customers.
Assist with year-end reconciliations for tax return purposes
End of year tax entries
Maintain Work in process schedules and record entries as jobs are completed
Advise on recommendations to make certain processes more efficient.
Assist with other duties as assigned.
Bachelor’s degree in accounting with a minimum 3 years accounting experience in real estate related activities. Experience with Excel required. Experience with Yardi and Kardin preferred
About Millman Recruiting Services, LLC
Jennifer Millman, President of the Millman Recruiting Services, LLC is a niche expert in shopping center placement and recruiting. With over 18 years of experience in the industry, Jennifer is the go to for the leading owners and developers. She places candidates in all areas of the shopping center industry; leasing, property management, legal, asset management, development, and construction. NATIONWIDE FIRM. All conversations are confidential.