Property Accountant- Real Estate

The Property Accountant is responsible for preparing monthly and annual financial statements for an assigned portfolio of condo/co-op communities. This role works closely with the property manager and resident board members to achieve the community’s financial goals.

Responsibilities include, but not limited to:

• Manage financial statements, building accounts, finances and operations while ensuring accurate recording of transactions.
• Maintain general ledger and perform journal entries (cash and accrual).
• Review bank reconciliations and resolve discrepancies.
• Accounts payable and Invoice processing.
• Provide financial reports and analysis to management on a monthly basis.
• Ensure compliance with accounting standards and regulations.
• Assist with audits and tax compliance.
• Responsible for overseeing 3rd party portfolio.
• Oversee all banking relationships.
• Oversee credit card program including V-card.
• Supporting property managers with financial problem-solving.
• Budget preparation and presentation.
• Reviewing new account financial files that have been transferred to Argo to ensure we have copies of all documents and ensure all funds are transferred appropriately

Processing

• Booking entries to the designated building portfolio.
• Process Journal entries for monthly statements.
• Process and book wire transfers through bank online portals.
• Process quarterly or semi-annual real estate tax payments.
• Oversee and approve bank reconciliation for appointed portfolio.
• Monthly review of increase decrease report to identity discrepancies.
• Submit tickets for AR/AP entries and adjustments.
• Enter YTD activity for new buildings in portfolio.

Oversight of Building Finances

• Monitoring each building’s cash balances to prevent overdrafts.
• Cash Management of building reserve funds.
• Conduct monthly full-scale review of management statements, including unpaid invoices, arrears, cash flow report and statement of loans and reserves.
• Conduct a monthly budget review for each assigned property.
• Conduct semi-annual cash flow actual to budget variance analysis.
• Maintaining accurate G/L balances for the designated portfolio.
• Maintain real estate tax schedule with assessed values.

Other

• Interface with clients and answer their questions
• Real estate tax calculation for escalation billing on commercial tenants
• Complete special projects/requests
• Process annual Form 1098’s and 1099’s
• Additional duties may be assigned

Qualifications:

• Real Estate experience a MUST.
• Must have bachelor’s degree in finance or accounting
• At least 5 years of Financial Analyst or Property Accountant experience within the real estate/or property management industry
• Experience in dealing with the monthly financial statements of condos/coops specifically
• Must have strong proficiency in Microsoft Excel and other MS Suite programs
• MDS software experience is a plus