Property Accountant

Job Description

Job Description

We are seeking an experienced Property Accountant to manage the day-to-day accounting for a portfolio of office and retail properties for an office in Culver City. This role is responsible for a full range of property accounting functions, including billing, tenant collections, accounts payable, general ledger support, revenue recognition, expense accruals, monthly financial reporting, budgeting, forecasting, profit and loss analysis, quarterly consolidated and combined financial statements, and CAM reconciliations.

The ideal candidate will have strong property accounting experience, specifically with office and retail assets, and must have hands-on experience using the Yardi platform.

Key Responsibilities-

• Perform daily accounting activities, including receiving checks, posting receipts, preparing deposits, reviewing and posting payable invoices, processing tenant billing adjustments, applying prepayments to open charges, and updating gross sales reports
• Manage the monthly close process, including recording monthly operational activity
• Prepare monthly schedules supporting balance sheet reconciliations and income statement activity
• Record monthly rental and ancillary income and reconcile cash receipts
• Prepare monthly bank reconciliations
• Record and amortize prepaid expenses such as insurance, loan fees, and deferred income
• Maintain fixed asset schedules and calculate monthly depreciation and amortization
• Reconcile security deposits to the subsidiary ledger on a monthly basis
• Accrue property taxes and maintain an understanding of property tax calculations
• Record monthly debt service activity, including principal amortization, interest expense, and escrow accounts
• Analyze and record bad debt expense and prepaid rent
• Record biweekly payroll activity
• Record monthly accrued liabilities, including utilities, debt service, and other recurring expenses
• Record management fees, asset management fees, and other G& A expenses monthly
• Partner with Asset Managers to ensure proper capitalization of fixed assets and operating expenses
• Perform monthly budget-to-actual variance analysis and provide explanations for significant fluctuations
• Analyze financial data and assist with ad hoc reporting and projects
• Prepare monthly financial reporting packages for investors and lenders
• Develop monthly forecasts for income, expenses, and cash flow
• Prepare quarterly consolidated financial reporting
• Assist in the preparation of the annual budget
• Prepare CAM reconciliations and related billings
• Support the annual audit process and work with external auditors
• Perform other related duties as assigned

Required Qualifications-

• Experience in property accounting, with direct experience supporting office and retail properties
• Strong knowledge of general ledger accounting, financial reporting, budgeting, forecasting, and variance analysis
• Experience with CAM reconciliations and tenant billings
• Proficiency with Yardi, including its related modules and suites, is required
• Proficiency with Microsoft Office Suite

• Proven property accounting experience supporting office and retail real estate assets.
• Strong working knowledge of general ledger accounting, accruals, reconciliations, and month-end close procedures.
• Hands-on proficiency with Yardi is required, including regular use of its property accounting functions.
• Experience preparing financial reports, forecasts, budgets, and variance analysis for real estate operations.
• Familiarity with tenant billings, cash applications, and reconciliation processes related to property accounting.
• Solid command of Microsoft Office applications, especially Excel for financial analysis and reporting.
• Excellent organization, attention to detail, and the ability to manage multiple deadlines in a fast-paced setting.