Property Accountant Job Description
Property accountant
provides oversight of, and maintain a relationship with, the Property Management, the Budget Team while ensuring compliance with Contract 44, Cost Accounting Standards (CAS), Generally Accepted Accounting Principles (GAAP), and applicable Department of Energy (DOE) regulations, policies and procedures as it applies to property accounting and capitalization.
Property Accountant Duties & Responsibilities
To write an effective property accountant job description, begin by listing detailed duties, responsibilities and expectations. We have included property accountant job description templates that you can modify and use.
Sample responsibilities for this position include:
Enforcing GAAP accounting principles and company policies
Prepare monthly financial statements and financial reports in accordance with GAAP and our client’s specified accounting procedures and reporting guidelines
Assist with ad hoc accounting projects as needed with minimal supervision
Prepare workpapers for accrual and US GAAP and/or US Tax based books and records including the review of accruals, rollforward of fixed assets, calculation of straightlined rents If project accountant is assigned to properties, review the monthly workpapers they prepare for accuracy and completeness
Maintain accounting records, AP and AR bank reconciliations
Managing lease accounting from end-to-end
Maintain a complete and accurate set of accounting working papers for each assigned property
Importing work orders from Workspeed into Yardi
Reviewing and accounting for construction activity and capital improvements
Cash receipts and disbursements
Property Accountant Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Property Accountant
List any licenses or certifications required by the position: CPA, CHFP, PA, CMI, CMA, W-9
Education for Property Accountant
Typically a job would require a certain level of education.
Employers hiring for the property 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, Business, Real Estate, Education, Management, Finance/Accounting, Business/Administration, Economics, Professional Accounting
Skills for Property Accountant
Desired skills for property accountant include:
GAAP
Ability to learn property management accounting processes
Microsoft Excel
Generally accepted accounting principles
Excel
Yardi
Microsoft Excel and Word
MRI
Accounting
Mortgage agreements and management agreements for assigned properties
Desired experience for property accountant includes:
Expense allocations
General ledger maintenance through trial balances and preparing work papers for the outside CPA Firm to prepare the tax returns
Tenant billing, escalations and chargebacks
Requires experience in coding invoices, matching invoices to check run
The opportunity to grow
Experience with MRI is preferred
Property Accountant Examples
1
Property Accountant Job Description
Job Description Example
Our company is looking to fill the role of property 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 property accountant
- A bachelor’s degree with an emphasis in finance or accounting
- A few years of experience in property management or property accounting
- Prepare journal entries in compliance with GAAP and the company's policies and procedures
- Oversee monthly bank reconciliations
- Assist with monthly rent reconciliation, quarterly commitments schedules and other monthly reconciliations
- Assist with the fixed asset capitalization process by gathering and summarizing necessary data within departmental timelines
- Analyze assigned projects to determine if they are in accordance with established policies and guidelines
- Prepare and review journal entries to facilitate the accurate and timely clearing of assigned projects
- Add new assets to the fixed asset system and running monthly depreciation
- Assist with variance analysis of depreciation expense and other related accounts
Qualifications for property accountant
- Experience with MRI a must
- Detailed oriented and diligent with recurring tasks
- Experience with real estate or comparable software (Yardi preferred)
- Prepare variance analysis
- Prepare monthly and yearly end financials for multiple properties (approximately 6-8)
- A minimum of 2 years of solid commercial (office or retail, preferably
2
Property Accountant Job Description
Job Description Example
Our company is looking to fill the role of property accountant. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for property accountant
- Prepare and review depreciation and fixed asset schedules regularly reconciliation of all accounts
- Preparing monthly FFO/FAD schedules (income statements), Flux Reports, and Variance Reports
- General ledger /journal entry input and reconciliation to sub-ledgers
- Assisting in the preparation of audit work papers
- Updating all capital assets and depreciation
- Preparing sales tax returns
- Scanning General Ledger for miscodings and inconsistencies
- Performing bank reconciliation of all cash accounts, including reserve accounts
- Assisting in the preparation of audit workpapers (analysis and reconcile the accounts)
- Analyzing year-end adjusting entries
Qualifications for property accountant
- A minimum of three years' experience is required, preferably in real estate-related activities
- Bachelors in Accounting or business-related field
- Reviewing tenant work orders for coding and for sales tax
- Tracking monthly utility expenses
- Perform required analysis and develop external reports for compliance with all agreements (sales & use returns, i&e forms )
- Audit and prepare reconciliation of all accounts
3
Property Accountant Job Description
Job Description Example
Our innovative and growing company is hiring for a property 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 property accountant
- Interface with other personnel in answering questions pertaining to areas of responsibility
- Process and record all cash transactions on a daily basis
- Assist managers in various special projects
- Responsible for construction draws
- Track construction (including lien release tracking) and capital expenditures
- Create monthly reporting packages that are sent to lenders and joint venture partners
- Create original work papers to be used in conjunction with audits
- Prepare real estate tax, operating expense and other escalation billings for tenant
- Work with the Asset Managers and other interested parties to coordinate the creation and flow of financial data, budgets and re-forecasts
- Review and analyze tenant leases
Qualifications for property accountant
- Proficiency with MS office, spreadsheet applications
- Will look at both commercial or residential experience
- Will eventually handle 10 to 11 properties, but will start with less
- CAM reconciliation experience preferred
- Experience with Yardi software is highly preferred
- Must possess excellent written communication skills and thorough general ledger interpretation
4
Property Accountant Job Description
Job Description Example
Our company is growing rapidly and is looking for a property accountant. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for property accountant
- Work with home office personnel (Leasing Coordinator, Construction Manager, Asset Management, ) to maintain the integrity of the accounting system and to facilitate their financial reporting requirements
- Responsible for preparing financial statements and monthly reports
- Prepare monthly financial statement reporting package for assigned entities
- Prepare audit work papers in preparation for year-end audit and work with external auditors
- Assist with budgets for assigned portfolio, which includes expense analysis, financing, and forecasting
- Prepare account reconciliations, maintain accurate records for all transactions and month end closing accruals, adjustments, and monthly work papers supporting all balance sheet accounts
- Review accounts receivable reports and other related reports
- Ensures financial reports tie to general ledger
- Document and record ownership-level transactions/adjustments impacting assigned portfolio of properties based relevant legal documents
- Review financial reports to identify and explain variances
Qualifications for property accountant
- Proficient in the use of MRI and Skyline systems a plus
- Experience with Yardi a must
- Previous property accounting experience in the hospitality industry
- Full-cycle accounting preferred
- Computer proficiency in MS Word, Excel, and Outlook
- Yardi, MRI, or Argus software preferred
5
Property Accountant Job Description
Job Description Example
Our innovative and growing company is looking to fill the role of property 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 property accountant
- Manner and internal schedules are maintained
- Verify bank reconciliation is complete and ensures all reconciling items are resolved in a timely manner
- Verify that budget information has been properly inputted into system
- Handle client audit requests as needed
- Assist in the setup and transitions of properties which may include loading beginning balance information, sale pro-ration calculations, and closing entries
- Record acquisitions/dispositions of real estate assets
- Prepare monthly/quarterly/yearly financial statements and supporting packages for the management team, investors and lenders
- Assist Treasury with the management of cash flow and cash requirements for the assigned real estate portfolios
- Communicate with Asset Management to assist with preparation of cash position, variance and capex analyses for annual budgets and re-forecasts
- Assist with the provision of information for interim/annual audits and annual tax returns
Qualifications for property accountant
- Preferably have recent real estate accounting software package such as Timberline, Skyline, and Yardi
- Must have intermediate to advanced Microsoft Word, and Excel proficiencies
- Associate Degree in Accounting required, Bachelor's Degree preferred
- Excellent computer skills including Microsoft Excel skills
- Internal motivation and the ability to work independently with little direction
- Bachelor’s Degree in Finance/Accounting preferred, but will consider experienced accountants with an associate’s degree