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Commercial Property Accountant

2 months ago

Houston, Texas, United States Creative Financial Staffing Full time

Job Overview: Property Accountant - Commercial Real Estate

What are the benefits of the Property Accountant position?

  • Attractive Salary and Benefits Package
  • Flexible Work Environment
  • Opportunities for Professional Growth

Key Responsibilities of the Property Accountant:

  • Financial Oversight:
    • Work closely with the Property Manager/Project Manager to verify the precision of journal entries and maintain the integrity of the general ledger.
    • Execute cash management tasks, including tracking and documenting cash movements, and reconciling bank statements.
    • Prepare standard reference requests for establishing new ACH/wire transfer relationships.
  • Receivables Management:
    • Oversee and coordinate the accounts receivable workflow in collaboration with Property Management.
    • Conduct analysis and collection efforts for A/R, including aging assessments and tenant communications regarding outstanding balances.
  • Payables Management:
    • Manage accounts payable operations, including issuing payments, setting up wire/ACH transactions, maintaining vendor records, and addressing vendor inquiries.
  • Lease Management:
    • Facilitate and execute lease administration duties, including entering new leases into the accounting system, preparing tenant invoices, and establishing tenant recovery profiles.
    • Prepare reconciliations for operating and tax expenses as required by governing documents such as leases and management agreements.
  • General Ledger & Compliance:
    • Record journal entries in the general ledger and ensure adherence to GAAP or other relevant accounting standards.
    • Review journal entries created by the Staff Accountant (if applicable) to confirm accuracy and completeness.

Qualifications for the Property Accountant:

  • Bachelor's degree in Accounting
  • 1-2 years of experience in property accounting, ideally within the commercial real estate sector
  • Alternatively, 1 year of experience in public accounting
  • Strong understanding of GAAP and proficiency in general ledger operations.
  • Experience with Yardi and Microsoft Excel.
  • Exceptional attention to detail, analytical abilities, and capacity to handle multiple responsibilities.

Additional Qualifications:

  • Experience in lease administration and tenant recovery processes.
  • Familiarity with commercial real estate accounting systems and methodologies.
  • CPA or other relevant certifications are advantageous.