Senior Property Accountant

POSITION SUMMARY: Maintain general ledger, prepare financial statements, prepare year-end workpapers for audit and tax return preparation for assigned properties in the portfolio. Assist in budgeting process; prepare bank reconciliations and review tenant reconciliations for CAM, RE Tax, and percentage rents. Review and approve invoice coding and check runs. KEY AREAS Budgets General Ledger Maintenance Financial Reporting (Internal & External) Partner Distributions/Contributions Bank Reconciliations Tenant Billings / Charges Year End Work Papers/Audits JOB DESCRIPTION I. Budgets Assist in preparation of annual property budgets (including capital) for upcoming year Assist property manager with certain line items (income and expenses) Review rent assumptions from Leasing Review projected CAM & RETax recovery rates and percent rent Review budget and respond to inquiries from JV partner and other external owners Prepare executive summary based on approved budgets Prepare on accrual & cash basis II. General Ledger Maintenance Review G/L monthly to verify accuracy of transaction postings Prepare journal entries as necessary including recurring Update month end workpaper schedules for balance sheet accounts Reconcile Cash, AR and AP balances monthly Prepare monthly schedules for fees due to management company in accordance with Management / LLC agreement Actively collaborate with development accounting team to monitor project budgets, prepare monthly construction draws and track funding timelines Interface with corporate accounting, property management, development accounting, accounts receivable, accounts payable and lease administration to resolve issues Approve & code AP invoices and review cash balances for weekly check runs Prepare monthly cash flow projections Prepare monthly financial statements including variance analysis including reforecasting Interpret and maintain compliance with complex cash management agreements, lender covenants, and waterfall distribution structures Prepare financial package for outside partners in accordance with management/LLC agreement Prepare rent roll and occupancy reports monthly Participate in monthly meetings to review cash flow projections and financial statements Prepare Quarterly P&L and actuals vs. budget analysis Respond to Ad Hoc requests from client as needed IV. Partner Distributions/Contributions Budget partner calls and distributions per original cashflow projections Prepare partner calls and distributions as required Maintain schedules of partners’ percentages in accordance with LLC/LP agreements Adjust projected distributions & contributions to assure adequate cash balances V. Bank Reconciliations Prepare bank reconciliations for entities assigned Resolve / research open reconciling items Review tenant reconciliations for CAM and RETaxes Review percent rent calculations and prepare accrual estimates Review all Tenant charges VII. Year End Work Papers Finalize CAM expenses for annual tenant reconciliation Make necessary year-end adjustments to finalize financial statements and tax return Prepare appropriate schedules to support year end balances Assist in K-1 estimates required at various times during the year Prepare year-end audit requirements/schedules Coordinate with external auditors, including preparing reconciliation schedules, fielding auditor questions, and ensuring timely resolution of inquiries Update fixed asset schedules and depreciation/amortization on GAAP and Tax basis using excel and FAPro software Update straight line rent schedules and corresponding journal entries Job Qualifications/Requirements Bachelor’s degree in Accounting/Business 5 + years’ work experience in related field Experience with property management software preferred – MRI, Nexus, Fixed Asset Pro Knowledge of commercial real estate, lease documents, lease language & interpretation preferred Proficient in the use of Microsoft Excel, Word and Adobe Strong verbal and written communications skills Well organized, self-motivated, and detail oriented, with excellent interpersonal skills Demonstrated ability to take initiative, set priorities, and handle a wide range of tasks simultaneously and handle shifting priorities in a fast-paced environment. Must be flexible and willing to take on new assignments. Excellent judgment and discretion are required #J-18808-Ljbffr