fbpx Skip to main content

Senior Property Accountant

Job Overview

The Senior Property Accountant is responsible for ensuring accurate and timely financial reporting for a portfolio of properties. This includes preparing financial statements, budgets, and forecasts, analyzing financial data, and identifying areas for improvement. The Senior Property Accountant also oversees the accounting and reporting functions for a portfolio, including reconciliations, audits, and compliance with GAAP and company policies. They work closely with property management and other departments to ensure accurate and efficient financial operations. Finally, the Senior Property Accountant plays a key role in providing strategic financial advice and guidance to upper management and owners.

Organizational Impact

The Senior Property Accountant plays a critical role in the financial management of a real estate organization. Their responsibilities include overseeing the accounting and financial reporting for multiple properties, ensuring compliance with accounting standards and regulations, and providing financial analysis and recommendations to senior management.

The impact of this job on the organization can be significant. A Senior Property Accountant can help to improve the financial performance of the organization by identifying areas for cost savings and revenue growth. They can also help to mitigate financial risks by ensuring accurate and timely financial reporting and compliance with regulations.

Additionally, the Senior Property Accountant can play a key role in building relationships with stakeholders such as investors, lenders, and property managers. By providing accurate and timely financial information, they can help to build trust and confidence in the organization's financial management.

Overall, the Senior Property Accountant is a critical member of the organization's financial team, and their impact can be felt throughout the organization.

Key Systems

- Accounting software (e.g. QuickBooks, Yardi, MRI)

- Microsoft Excel

- Property management software (e.g. AppFolio, Buildium, Rent Manager)

- Financial reporting tools (e.g. Crystal Reports, Tableau)

- Tax preparation software (e.g. TurboTax, H&R Block)


Inputs

- Financial statements and reports

- Property management software

- Lease agreements and contracts

- Tax laws and regulations

- Communication with property owners and tenants


Outputs

- Financial statements and reports

- Budgets and forecasts

- General ledger maintenance and reconciliations

- Accounts payable and receivable management

- Communication with property managers and owners regarding financial matters


Activities

  • Accounts Payable
    oReview expense coding, amounts, validity of debt and authority limits of payables and check requests submitted
    oManage coding and reimbursement of billing for select contract services and general administrative expenses

  • Accounts Receivable
    oVerify Accounts Receivable sub ledger remains in balance with General Ledger
    oPost month end adjustment per guidelines
    oPost month end reserve

  • Cash
    oInvestigate cash variances between the General Ledger and the bank account
    oInvestigate outstanding bank reconciliation items before bank reconciliation is posted for the month
    oSubmit ACH requests
    oPost weekly due to/from Journal Entries to the General Ledger

  • Financial Reports
    oComply with financial reporting requirements including preparation of GAAP basis financial statements
    oAnalyze all balance sheet and income statement accounts and prepare appropriate accrual and/or adjusting entries
    oPrepare annual and quarterly financial statements by deadline(s)

  • Fixed Assets
    oClose out capital jobs at year end to move value of completed jobs from work in progress to the proper capital General Ledger account
    oPrepare schedules of prepaid commissions at year end
    oMaintain and post monthly entries and amortization schedules

  • Other Assignments
    oPrepare balance sheet reconciliations
    oAssist in preparation of annual budgets and quarterly reforecasts
    oCover duties of Assistant Controller as needed

Recommended Items

  • Monthly financial statements preparation
  • Budget preparation and analysis
  • Accounts payable and receivable management
  • Lease administration and rent roll management
  • Annual property tax filings and appeals

Content Examples

  • Financial statements and reports for properties managed by the company
  • Budgets and forecasts for property operations and capital expenditures
  • Monthly and annual reconciliations of property accounts and bank statements
  • Tax returns and compliance filings for properties and entities
  • Audit support and documentation for internal and external audits

Sample Event-Driven Tasks

- Review and reconcile monthly property management reports upon receipt

- Prepare and submit annual property tax filings for assigned properties

- Update and maintain fixed asset schedules for all properties

- Analyze and report on variances in property operating expenses compared to budget

- Coordinate with property managers to ensure timely and accurate financial reporting for each property


Sample Infill Tasks

- Reviewing and reconciling monthly property financial statements

- Preparing and submitting property tax assessments and appeals

- Analyzing and forecasting property budgets and cash flows

- Coordinating with property management teams to ensure accurate financial reporting

- Conducting audits of property financial records and identifying areas for improvement


Skip to content