Property Accountant

Overview

Description

The Property Accountant performs daily property accounting duties for assigned retail properties that includes, but is not limited to, preparing financial reports, entering accrual journal entries in accordance with GAAP, reviewing operating statements and variance reports, payable review, performing reconciliations and ensuring accuracy, consistency and adherence to the Metro National policies and procedures. The Property Accountant also utilizes MRI accounting software to perform property accounting required tasks.

In addition, the Property Accountant also works with property management to ensure that all reporting deadlines are met, e.g., monthly operating reports, annual budgets, escalation settlements, etc. The Property Accountant will be responsible for a portfolio of buildings.

It is also the responsibility of the Property Accountant to deliver the Metro National experience when interacting and communicating with tenants, owners, vendors and fellow team members.

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following.

Daily

• Maintain tenant leases sub-ledger in MRI
• Review (coding, approval) and post A/P invoices
• Verify and post tenant cash receipts
• nvoice miscellaneous charges and bill backs to tenants as needed
• Assist Property Manager and VP of Retail Assets with special projects and be available as a resource
• Other duties may be assigned.

Monthly

• Generate recurring monthly charges for tenant leases
• Maintain the General Ledger for portfolio as assigned
• Reconcile Balance Sheet accounts
• Review monthly financial statements
• Book accruals as needed. (utilities, security, AVTX expense)
• Assist with collections as needed
• Assist Property Manager with variance reporting
• Calculate and invoice percentage rent as needed
• Other duties may be assigned.

Annually

• Reconcile and invoice annual tenant recoveries
• Assist Retail Operations Team with annual budget preparation
• Provide annual audit support
• Other duties may be assigned.

QUALIFICATION REQUIREMENTS:

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

EDUCATION and/or EXPERIENCE:

• A bachelor’s degree with emphasis in accounting, finance, or related field preferred.
• Minimum 3-5 years of experience in Property Accounting in Office or Retail sectors
• A thorough understanding of the following concepts:
• Application of Generally accepted accounting principles (GAAP)
• Tenant Recoveries
• Straight Line Rent
• Percentage rent

LANGUAGE SKILLS:

Ability to read, analyze, and interpret general technical procedures or governmental regulations. Ability to write reports and business correspondence. Ability to effectively present information and respond to questions from groups of managers and clients. Must be able to understand and communicate effectively in English to tenants, vendors, clients and employees.

MATHEMATICAL SKILLS:

Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals.

REASONING ABILITY:

Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written, oral, or schedule form.

OTHER

SKILLS and ABILITIES

:

Proficient in the use of personal computer and Microsoft applications. Applicable experience in real estate accounting software, preferably with MRI. Ability to handle multiple projects, changing priorities and demanding, time-sensitive, workload(s).

PHYSICAL DEMANDS:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the employee is regularly required to sit and use hands to handle office equipment, paper reports, etc.…