Development Accountant
4 weeks ago
Development Accountant
Sage Ventures is a full-service vertically integrated residential development and investment firm. As a collaboratively run corporation, we develop, own, rehabilitate, sell, and manage exceptional properties throughout the greater Baltimore/Washington region.
Position Summary:
The Development Accountant will report to the VP of Construction and will be responsible for supporting the CFO in providing accounting services and reporting support. To maintain the general ledger and ensure accuracy and consistency in reporting and recognition.
Essential Functions:
Partnering for Project Success:
- Work hand-in-hand with Project Managers to create, track, and analyze budgets for development projects.
- Monitor project progress and spending to ensure projects stay on schedule and within budget.
- Streamline construction payments by accurately processing and reporting on pay applications and loan draws.
- Collaborate with the development team to identify and address any budget variances or potential issues.
- Manage contracts on development projects, ensuring compliance and smooth execution.
- Support the closing process for real estate transactions, analyzing settlements and recording financial entries.
- Partner with Project Managers on invoice coding, approvals, and budget adjustments.
- Generate ad-hoc reports to provide timely financial insights to the development team.
- Maintain accurate monthly accounting records for development projects including preparation of reconciliations.
- Prepare monthly financial statement packages including balance sheet, income statement, cash flows and supporting working papers.
- Oversee the full accounts payable cycle for development projects, including processing invoices, writing checks, and ensuring vendor compliance.
- Allocate payroll costs accurately across various projects.
- Calculate returns and manage distributions of equity and profits.
- Assist with year-end 1099 preparation and collaborate on tax return preparation.
Qualifications:
- The ideal candidate will have worked in the real estate industry, construction accounting, and property accounting.
- This position will require the candidate to have extensive experience with construction requisitions, working with lenders and reporting.
- Strong organizational skills with attention to detail.
- Strong verbal and written communication skills.
- Accounting or business degree required.
- CPA or desire to obtain a CPA license preferred.
- Three or more years of work experience preferred.
Benefits:
- Competitive salary and performance-based bonuses
- Comprehensive health, dental, and vision insurance plans
- Retirement savings plan with employer matching
- Paid time off, including vacation, sick leave, and holidays
- Professional development opportunities and tuition reimbursement
- Employee discounts on housing and other company services
- Opportunities for career advancement within a growing company
Sage Ventures is an Equal Opportunity Employer. All employment decisions are based on business needs, job requirements and individual qualifications, without regard to race, color, religion or belief, family or parental status, or any other status protected by the laws or regulations in the locations where we operate.
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