Lake Forest, CA 92691
Lease Accountant is responsible for operational data integrity for all Lease Accounting functions, which includes but not limited to full cycle accounting for leases, tenant relationships, reconciliation balance sheet accounts and preparing ad-hoc reports as requested by management. Interpreting lease language and set-up leases according to GAAP.
Key Job Functions
• Perform daily, weekly, monthly and annual accounting processes to accurately record lease revenue for financial reporting.
• Prepare all journal entries including expense accruals, amortization and depreciation, gross potential rent, straight line rents and all other journal entries necessary to ensure books comply with GAAP.
• Review and tie out all A/R reporting at month end.
• Prepare Balance Sheet account reconciliations and analysis.
• Prepare monthly straight-line analysis, ensuring that minimum rent amounts and straight-line. dates are properly recorded in the system in accordance with lease terms, are accurately reflected in the balance sheet and are in accordance with FASB 13.
• Analyze and Interpret lease terms for proper accounting treatment and set lease terms up
• Ensure that all documentation received from the tenants accurately reflect Gross Sales as defined by the lease terms and are accurately stated .
• Prepare and post tenant scheduled charges and adjusting charges i
• Invoice tenants based upon lease terms including but not limited to minimum rents, percentage rents etc.
• Proactively work with tenants to collect payment and resolve outstanding balances.
• Prepare documentation, schedules and provide support for all audits.
• Communicate and maintain strong working relationships with Tenants, Internal and External Auditors, Finance Leaders and Analytics teams.
• Provide Ageing updates to management.
• Assist leadership teams with special projects, research and supplemental reporting.
• Stay abreast of changes in lease accounting and provide leadership with updates, impacts and solutions.
• Educational Experience
• Bachelor' s degree in Accounting/Finance or equivalent. Master' s degree preferred.
• 4+ years of technical accounting experience or 2+ years of lease accounting.
• Experience of GAAP and accrual based accounting is essential as is the understanding of standard principles, practices and methods of modern accounting and office practices, procedures, methods, accounting equipment and software.
• Must have intermediate level skills with Microsoft Excel/Word/Access
• Excellent judgment with ability to handle multiple priorities simultaneously and meet deadlines.
• Must be organized and detailed oriented with strong analytical skills.
• Must be able to demonstrate excellent communication skills, written and verbal.
• Must be a self-starter and have the ability to work independently.
• Must be a team player and ability to collaborate with others.
• Must be comfortable with answering and placing phone calls to tenants regarding past due balances.
• Ability to remain calm and have patience under pressure.