What are the responsibilities and job description for the Lease Accounting Manager position at Sears Home Services?
We are seeking a Lease Accounting Manager for Sears Home Services!
*Must have Yardi experience and extensive ASC 842 knowledge
The Lease Accounting Manager maintains the accuracy and integrity of all lease accounting records, for both Tenant Leases (where TransfromCo is the landlord charging rent) and Landlord Leases (where TransformCo is the tenant paying rent).
Responsibilities:
- Manages and oversees all aspects of lease accounting for both Tenant Leases (where the company acts as the landlord) and Landlord Leases (where the company is the tenant), ensuring full compliance with accounting standards and internal policies.
- Guides offshore teams to accurately post monthly tenant charges, apply daily cash receipts, and ensures adherence to accounting timelines.
- Owns the rental payment process, overseeing the offshore team responsible for posting monthly rental payments to landlords and managing the payment schedule, making adjustments as needed to ensure accuracy and timeliness
- Leads the preparation, review, and finalization of monthly ASC 842 lease calculations and reconciliations, ensuring that all transactions are accurately reflected and issues are resolved efficiently.
- Manages the preparation and review of monthly straight-line rent calculations and reconciliations, making decisions on adjustments when necessary and ensuring accurate reporting for financial statement purposes.
- Collaborates with the Lease Administration team to resolve any discrepancies in monthly lease charge schedules and identifies and implements improvements to streamline lease charge tracking and reporting processes.
- Prepares detailed lease accounting schedules for corporate audits, providing insights and addressing any complex inquiries related to lease accounting, accounting policies, or lease terms.
- Prepares rental income/expense schedules for forecasting and the annual budget process, using sound judgment to assess trends and provide accurate estimates based on lease portfolio performance.
- Compiles and delivers special reports as requested by leadership, leveraging expertise to determine the most relevant and useful data for strategic decision-making
Qualifications:
- Bachelor s degree in accounting, finance or related field
- Strong Yardi experience required and proficiency in other accounting software and MS Excel
- Strong Knowledge of GAAP lease accounting and ASC 842, straight-line rent accounting, and lease administration
- 3-4 years of experience in lease accounting or a related field, with at least 2 years in a management role.
- Strong general ledger, accounts payable, accounts receivable, and systems knowledge
- Able to relate positively with a diverse contingency i.e., other divisions within Company, employees, vendors, tenants
- Able to work with a minimum of supervision must be highly motivated and self-directed
- Appropriately maintain financial and other confidential information
- Experience working with offshore teams or remote staff
- Excellent organizational and communication skills, with the ability to manage multiple tasks and deadlines
