Sr. Property Accountant

About the Company

• Bonus: 10%
• Vacation: 2-3 Weeks
• Benefits - yes after 3 months
• Pension: yes, after 2 years, 5% match from employer
• Competitive salary
• Discretionary bonuses
• Medical, dental, and vision benefits
• 401(k) retirement plan

• Manage full-cycle accounting for a portfolio of income-producing properties and related ownership entities.
• Prepare monthly, quarterly and annual financial statements, supporting schedules and management reporting packages.
• Complete month-end and year-end close activities, including accruals, prepaid expenses, amortization, adjusting entries and balance sheet reconciliations.
• Analyze operating results against budget, forecast, prior year and underwriting assumptions, with specific focus on net operating income, cash flow and leasing impacts.
• Monitor portfolio profitability, occupancy, vacancy, collections, operating expenses and recoveries.
• Ensure accounting records are maintained accurately for each property, legal entity, bank account and ownership structure.
• Account for base rent, additional rent, recoveries, utility billings and other property-level revenue streams.
• Prepare and reconcile annual tenant recovery calculations for common area maintenance, realty taxes, insurance, utilities and other recoverable costs.
• Monitor accounts receivable and rent collections.
• Reconcile tenant deposits, security deposits, prepaid rents and other tenant-related balances.
• Maintain project-level accounting for construction projects and major capital improvement program
• Track project budgets by phase, cost code, trade, contract, consultant, property and funding source.
• Monitor acquisition costs, land costs, entitlement costs, municipal charges, development charges, permit fees, planning costs, architectural and engineering fees, legal fees, environmental costs, financing costs and other soft costs.
• Track purchase order commitments and contract balances, invoices and accounts payable.
• Conduct regular reviews with the real estate team.
• Assess whether costs should be capitalized or expensed in accordance with applicable accounting policies and accounting standards.
• Maintain fixed asset continuity schedules, capital asset additions, disposals, depreciation and project capitalization records.
• Coordinate annual property operating budgets in partnership with Real Estate team.
• Prepare quarterly forecasts and updated projections for revenue, recoveries, operating expenses, capital projects and cash flow.
• Maintain strong internal controls over property accounting, tenant billing, vendor payments, construction draws, capital spending and banking activity.
• Review reconciliations, prepare journal entries, accounts payable coding and project cost classifications.
• Identify and implement process improvements to improve reporting accuracy, workflow efficiency and month-end close timelines.
• Participate in ERP, property management system, reporting and automation initiatives.

• Bachelor degree in Accounting, Finance, Commerce or a related discipline. CPA designation completed or in progress preferred.
• 3 to 5 years in property accounting, real estate accounting, construction accounting, development accounting
• Strong understanding of income-producing real estate, lease-based revenue, operating recoveries, property-level reporting, capital projects and ownership reporting.
• Advanced Microsoft Excel skills. Experience with Sage Real Estate or other property accounting and ERP systems preferred.
• Highly organized, detail-oriented and deadline-driven, with strong analytical skills, professional judgment, communication skills and ability to work independently across multiple properties and projects.
• You must currently reside within the Greater Toronto Area and be permitted to work in Canada to be considered for this opportunity.

$75,000 - $85,000 / year

This position for employment is for a current vacancy with Vaco/Highspring’s client.