200 E. Baker Street Suite 100 Costa Mesa, CA 92626
Asset Management Accounting
# Direct Reports:
(Title of Manager)
Assistant Controller – Asset Management
The Property Accountant is a Property level (entity) accounting staff position responsible for supporting property accounts payable, accounts receivable, collections accounting, CAM, billings, budgeting and financial reporting (P&L and Balance Sheet).
Essential Job Functions
- Generates standard monthly and other applicable journal entries with supporting documentation (except those prepared by Property Accountant Specialists (PAS).
- Prepares and distributes monthly and quarterly financial statements and completes select schedules within prescribed deadlines.
- Prepares monthly conversions of financial statements for specific owners.
- Reconciles balance sheet accounts as designated, including bank statements monthly. Follows up on reconciling items so they are clear and presented in a timely manner, as directed by Assistant Controller.
- Monitors cash balances for investment purposes. Completes the investment analysis and forwards to Assistant Controller by the 5th of each month.
- Reviews and approves invoices for correct coding, amount, entity, and Property Manager approval within one to two working days. Also, questions and follows up on unusual items.
- Generates check requests for management fees, ground rent payments, etc., as applicable, in a timely manner.
- Reviews MRI to ensure A/R & A/P sub-ledgers tie to the general ledger.
- Monitors security deposits and refunds for appropriateness and ensures MRI amounts agree with general ledger.
- Codes miscellaneous cash receipts daily as applicable.
- Keeps Assistant Controller informed of status of workload and unexpected projects as they arise.
- Prepares (except supporting documentation prepared by PAS) annual operating budgets for the properties and distributes before stated times in management agreements in accordance with prescribed procedures.
- Prepares select year-end workpapers as designated on year-end financial statement checklist and reviews all year-end financial statement reconciliations and submits to Assistant Controller for review before due to auditors.
- Works with appropriate MIS support to resolve issues relating to software (i.e. reports do not tie, etc.) and informs Assistant Controller of same.
- Maintains loan compliance and provides lender with appropriate required reports.
- Processes property tax payments in timely manner.
- Assists with outside auditors and special projects as needed
- Performs other job duties as may be assigned.
The employee in this position adheres to budget set by others
The employee in this position has no indirect or direct purchasing authority
This employee in this position does not have contract authority