Property Management Accountant

4 months ago


New York, United States Trandon Associates, Inc Full time
Job DescriptionJob Description

The Property Management Accountant is responsible for preparing monthly and annual financial statements for an assigned portfolio of condo/co-op communities. This role works closely with the property manager and resident board members to achieve the community’s financial goals.

Responsibilities include, but not limited to:

  • Manage financial statements, building accounts, finances and operations while ensuring accurate recording of transactions.
  • Maintain general ledger and perform journal entries (cash and accrual).
  • Review bank reconciliations and resolve discrepancies.
  • Accounts payable and Invoice processing.
  • Provide financial reports and analysis to management on a monthly basis.
  • Ensure compliance with accounting standards and regulations.
  • Assist with audits and tax compliance.
  • Responsible for overseeing 3rd party portfolio.
  • Oversee all banking relationships.
  • Oversee credit card program including V-card.
  • Supporting property managers with financial problem-solving.
  • Budget preparation and presentation.
  • Reviewing new account financial files that have been transferred to organization to ensure we have copies of all documents and ensure all funds are transferred appropriately

Processing

  • Booking entries to the designated building portfolio.
  • Process Journal entries for monthly statements.
  • Process and book wire transfers through bank online portals.
  • Process quarterly or semi-annual real estate tax payments.
  • Oversee and approve bank reconciliation for appointed portfolio.
  • Monthly review of increase decrease report to identity discrepancies.
  • Submit tickets for AR/AP entries and adjustments.
  • Enter YTD activity for new buildings in portfolio.

Oversight of Building Finances

  • Monitoring each building’s cash balances to prevent overdrafts.
  • Cash Management of building reserve funds.
  • Conduct monthly full-scale review of management statements, including unpaid invoices, arrears, cash flow report and statement of loans and reserves.
  • Conduct a monthly budget review for each assigned property.
  • Conduct semi-annual cash flow actual to budget variance analysis.
  • Maintaining accurate G/L balances for the designated portfolio.
  • Maintain real estate tax schedule with assessed values.

Other

  • Interface with clients and answer their questions
  • Real estate tax calculation for escalation billing on commercial tenants
  • Complete special projects/requests
  • Process annual Form 1098’s and 1099’s
  • Additional duties may be assigned

Qualifications:

  • Real Estate experience a MUST.
  • Must have bachelor’s degree in finance or accounting
  • At least 5 years of Financial Analyst or Property Accountant experience within the real estate/or property management industry
  • Experience in dealing with the monthly financial statements of condos/coops specifically
  • Must have strong proficiency in Microsoft Excel and other MS Suite programs
  • MDS software experience is a plus

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