Lease Accountant Job Description

Lease Accountant Job Description

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Lease accountant provides technical accounting thought leadership on lease accounting topics including, but not limited to sale-leaseback transactions, real estate and equipment lease contract analyses.

Lease Accountant Duties & Responsibilities

To write an effective lease accountant job description, begin by listing detailed duties, responsibilities and expectations. We have included lease accountant job description templates that you can modify and use.

Sample responsibilities for this position include:

Assist with the implementation and training associated with the new US GAAP lease standard
Use accounting concepts, wide-ranging experience, analytical skills, and knowledge of industry to identify and resolve issues in creative and effective ways
Support and understanding, evaluating and completing position papers as it relates to adherence to GAAP, specifically for leases
Sets up and maintains accounting and fiscal control records
Assist Lease Supervisor in the coordination of program changes and reporting needs with core software IT department database administrators
Participate in the process for structure accounting - this will incorporate panel and structure maintenance within the core software program coordinating and reconciling with the fixed assets department and general accounting
Assist Lease Supervisor with the documentation of interpretation and compliance issues
Participate in review process of lease accounting transactions for accuracy of the lease accounting team
Reconciliation of various g/l accounts as they pertain to Lease Accounting
Verify daily lockbox deposits/ACH transfers

Lease Accountant Qualifications

Qualifications for a job description may include education, certification, and experience.

Licensing or Certifications for Lease Accountant

List any licenses or certifications required by the position: CPA, W-9

Education for Lease Accountant

Typically a job would require a certain level of education.

Employers hiring for the lease accountant job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Collage Degree in Accounting, Finance, Education, Business, Business/Administration, Real Estate, Economics, MBA, Graduate, Financial Analysis

Skills for Lease Accountant

Desired skills for lease accountant include:

Excel
Accounting software
GAAP
Industry
Lease pricing software
PeopleSoft
Retail real estate
Rules of the International Accounting Standard Board
With experience in lease accounting and lease auditing
CoStar

Desired experience for lease accountant includes:

Submit work product for approvals as required by department policy
Must have strong mentoring and coaching abilities
1-3 years of relevant experience, with at least 1-3 years with accounting or with 8-10 years of relevant experience, with at least 7 years with accounting for non-degree applicants
Set up new leases
Maintain master lease files
Retrieve W9’s from legal

Lease Accountant Examples

1

Lease Accountant Job Description

Job Description Example
Our company is searching for experienced candidates for the position of lease accountant. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for lease accountant
  • Ability to interact with all levels of Associates in the organization and generate positive relationships with internal and external business customers
  • Perform month end reports, accruals, sales tax returns, property tax returns
  • Maintains and enhances documentation of internal controls
  • Recommends and implements ideas and innovations to improve upon existing systems, work processes and procedures
  • Monthly tasks include accounting for straight-line rent, contingent rent, asset retirement obligations and rent/CAM/Tax accruals
  • Responsible for preparing quarterly reporting related to minimum lease obligations, asset retirement obligations and balance sheet analytics
  • Partners with finance to ensure collaboration in the forecasting and financial analysis processes
  • Supports customers through ad-hoc data collecting, reporting, analysis and special projects
  • Creates, prepares and reviews journal entries and account reconciliation that are accurate and compliant with company policies and applicable accounting regulations
  • Oversee and perform accounting associated with initial set-up and ongoing servicing of transactions
Qualifications for lease accountant
  • Strong analysis, problem solving, and research skills
  • Strong organizational, analytical, and problem-solving skills with the ability to multi-task in a fast paced environment
  • Bachelor’s degree in Finance, Accounting or other business field
  • Very organized, able to handle a large volume of transactional work (Does not get overwhelmed when volume increases)
  • Experience with oral and written communications for internal & external clients
  • Great attention to detail – all documents need to be reviewed carefully in order to request the appropriate changes from the master data group (SAP – Vendor changes for Landlord payments)
2

Lease Accountant Job Description

Job Description Example
Our innovative and growing company is looking to fill the role of lease accountant. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for lease accountant
  • Review deal documents for new leases, lease amendments and dispositions, and abstract data and enter into JDE Real Estate and AR module
  • Enter manual billing charges and adjustments for tenants as requested by Property Accounting
  • Run recurring billing process from JDE
  • Prepare CPI calculations and letters to tenants
  • Oversee rental income variance analysis
  • Prepare rent schedules for Financial Reporting group
  • Understand and communicate business drivers and their effect on financial results to ensure business changes are accurately reflected in the financial statements and analysis
  • Ensure accounting records, monthly accounting close activities, and variance analyses are adequately and properly prepared, maintained and explained in a timely manner
  • Actively participate in cross-functional projects to thoroughly understand the potential impacts on Accounting and our business partners, represent our needs/requirements and ensure implementation is successful
  • Record journal entries, reconcile complex accounts, and proactively create/improve processes
Qualifications for lease accountant
  • Willingness to pursue a CPA (if you already have your CPA that’s a huge plus!)
  • Real Estate and Accounts Receivable experience for tenant billing
  • Previous experience with Journal Entries and General Ledger Variance Analysis
  • Ability to comprehend lease agreements and abstract for tenant billing and CPI calculations
  • Strong understanding of accounting theory and accounting systems
  • Excellent verbal and written communication skills and ability to communicate effectively with different levels within the organization
3

Lease Accountant Job Description

Job Description Example
Our growing company is hiring for a lease accountant. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for lease accountant
  • Prepare various schedules relating to property accounting
  • Prepare journal entries for period end close
  • Reconciles assigned balance sheet accounts
  • Provide guidance on accounting treatment relating to property transactions such as straight-line rent, purchase accounting, leaseback accounting
  • Provide guidance on accounting treatment relating to the Property, Plant and Equipment policies
  • Ensure you are practicing the “be here now” attitude with all projects that you are assigned
  • Ensure you are communicating to your Supervisor your career growth plan
  • Ensure completion of all legal documents based on department guidelines, including abstraction, interpretation, input, and analyze of the information
  • Ensure completion of tenant billing recoveries for Common Area Maintenance, Utilities and Real Estate Taxes in accordance with department guidelines
  • Ensure compliance with departmental and corporate policies, procedures, and guidelines
Qualifications for lease accountant
  • AA or AS degree in Accounting or Finance preferred
  • Bachelor’s degree and 4-6 years’ experience in accounting or audit
  • Ability to supervise staff and work with and through others to achieve desired results
  • Some travel may be required, depending on assigned area
  • Ensure the overage rent process, including review of non-standard setup and completion of monthly billing
  • Ensure all of the data request que’s are completed timely
4

Lease Accountant Job Description

Job Description Example
Our company is looking for a lease accountant. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for lease accountant
  • Prepare and send daily invoices – via mail and e-mail
  • Book new lease contracts in lease database
  • Cross train selected responsibilities within the department
  • Assist the Accounting Manager and other department personnel with any other projects as needed
  • Oversight of lease accounting functions which includes lease expense, capital lease, and CAM
  • Significant interaction with Company management and external/internal auditors
  • Ensure all procedures outlined are being followed by assigned department personnel
  • Partner and collaborate with third party provider
  • Manage day to day operations of the teams
  • Work directly with the landlords
Qualifications for lease accountant
  • Work directly with tenants on escalated issue resolution
  • Complete footnote disclosures
  • Interact with internal and external customers in fulfilling inquires, data requests or analysis
  • Evaluate and recommend appropriate internal controls over store and department operations
  • Ensure compliance with Sarbanes-Oxley and supervise processes and testing for applicable areas
  • Reporting, ad hoc queries and analysis from multiple systems/sources
5

Lease Accountant Job Description

Job Description Example
Our company is growing rapidly and is looking to fill the role of lease accountant. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for lease accountant
  • Perform day to day operations of the teams
  • Processing standing regular payments calculating and processing quarterly and annual payments primarily based on electricity production (megawatts)
  • Performing accounting and general ledger duties including reconciling assigned accounts on a monthly basis
  • Prepare monthly analysis of certain key accounts and other account analysis
  • Manage aspects of the monthly, quarterly and yearly close process
  • Perform aspects of external and internal audit activities
  • Work with respective supervisor to insure SOX controls in place
  • Work with Field Administrative Area Managers and Directors of Operations in consultative manner
  • Manage Deferred Rent, Tenant Improvement Allowance, and/or Built-to-Suit leases as necessary
  • Analyze commercial real estate and equipment leases for proper accounting treatments
Qualifications for lease accountant
  • Seek customer satisfaction and track performance against customer requirements
  • Strong advanced understanding of job requirements and responsibilities
  • Ability to solicit support for ideas and provide sound rationale for recommendations
  • Complete assignments independently and handle complex accounting activities
  • Up to 2 years General Accounting experience
  • Strong understanding of job requirements and responsibilities

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