200 E. Baker Street Suite 100 Costa Mesa, CA 92626
The Property Accountant Specialist 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
- Assignments of properties that are more technical in nature such as development, phase IIs (vacant land), major renovations, major acquisitions, and joint venture (JV).
- Generates standard monthly and other applicable journal entries with supporting documentation (except those prepared by other 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 and makes balance sheet accounts as designated, including standalone bank statements monthly. Follows up on reconciling items so they are clear and presented in a timely manner, as directed by Assistant Controller/Manager. In addition, reconciles the consolidated bank (LP) account monthly and make corresponding entries.
- Monitors cash balances for investment purposes. Completes the investment analysis and forwards to Assistant Controller/Manager by the 5th of each month.
- Prepares cash flow projections for JV properties when necessary/requested by management.
- 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.
- Calculates additional/participation ground rent when applicable.
- 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/Manager informed of status of workload and unexpected projects as they arise.
- Prepares (except supporting documentation prepared by other 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/Manager 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/Manager of same.
- Maintains loan compliance and provides lender with appropriate required reports. In addition, calculate ratios per loan documents.
- Processes property tax payments in timely manner.
- Prepares projections for supplemental taxes (resulting from new construction and/or change of ownership), tracks actual bills, and adjusts accruals accordingly. In addition, prepares related variance notes/analysis.
- 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
The employee in this position requires supervision. Performs a variety of routine work within established policies and procedures, and receives detailed instructions on new projects and assignments.
Supervision authority for this position is indicated with an “ x” below
Provides ongoing work assignments for employees
Provides on-the-job training to employees; monitors progress
Schedules work hours for employees
Coaches employees for performance improvement
Conducts performance reviews for employees
Final decision-maker when hiring and/or terminating employees
This position requires a Bachelor’ s Degree level of education from an accredited university with emphasis in Accounting or other related discipline; or equivalent combination of education and experience.
Additional degree(s) that are preferred for this position include:
Below is the required/preferred work experience for this position:
Length in experience
Type of work experiences
Accounting experience in increasingly responsible positions through financial statement preparation.
Advanced knowledge of MS Office, Excel, PowerPoint, and Outlook required. MRI experience
Strong background in commercial real estate accounting.
Licenses & Certificates
Below are the required/preferred skills for this position:
Ability to communicate well both verbally and in written form.
Knowledge of computerized accounting systems. Ability to learn and understand new software when required.
Working knowledge of the principles and practices of commercial real estate
Property tax valuation knowledge
Ability to handle multiple projects, deadlines, and time constraints on multiple task
Team player, flexible, commitment to doing what it takes to get the job done.
Thrives in a dynamic environment and able to work on various projects simultaneously, requiring strong organizational and time management skills.
Accounting skills and knowledge. Timely and accurate work. Manager Feedback. Follow-Up/Detail-Oriented. Completeness. Strong Organization, time management, prioritization of work skills. Initiative/Commitment to self-improvement.