Property Accountant

 


Location: Corporate Office, Braintree, MA

Reports to: Controller

JOB DESCRIPTION:

Responsible for general ledger analysis and the maintenance of accurate records for a portfolio of proper­ties from the part­nership agreement to financial state­ments in accordance with established accounting and tax policies.

RESPONSIBILITIES:

  • Reconcile operating cash, intercompany accounts, tenant accounts receivable, accounts payable, accounts payable tenants, and escrow cash accounts from the general ledger to supporting detail on a timely basis.
  •  Reconcile security deposit bank account(s).  Compare balance(s) to corresponding liability and transfer cash to/from operating account as required.

  • Review and analyze monthly general ledger activity.
  • Monitor available cash on an ongoing basis.
  • Ensure timely payments of monthly mortgages and quarterly real estate tax payment.  Update real estate tax schedule for all properties.
  • Review and change standard payables and journal entries for each property as needed.  Process any payables/journals if necessary.
  • Prepare monthly/quarterly special reporting to mortgagees and inves­tors, as required by mortgagee and/or partnership agree­ment.  Submit to Controller for final review and approval.
  • Prepare year-end audit workpapers for external audit.  This process is ongoing throughout the year and should not be post­poned.
  • Calculate necessary entries for MIP payments.
  • Calculate gross potential rents (subsidy properties only).  Analyze variances and forward to appropriate Management staff for resolu­tion.
  • At May 31st, November 30th, and December 31st, re-compute manage­ment fee based on actual and adjust.  If necessary, cal­culate monthly.
  • Prepare annual budget information for non-operating expenses for Management review.
  • Prepare 121A Urban Redevelopment Excise tax return for project (if applicable).
  • Maintain correspondence/permanent files for each property.
  • Test the adequacy of all escrows.  Request return of excess funds or propose solution to underlying issues.
  • Maintain prepaid insurance schedules.
  • Update depreciation/amortization expense each year from audi­tors' schedules (typically in May of each year).
  • Month-end closing and various reports for clients as needed.
  • Assist in financial statement preparation, review and variance analysis on a quarterly basis.
  • Other property specific accounting, reporting and projects, as needed.

 QUALIFICATIONS:

  • 2+ years of accounting experience, property accounting specific experience desired but not required.
  • GL/journal entry experience (private accounting) or real estate specific audit client experience (public accounting) required.
  • Proficient use of Microsoft Office and accounting software.
  • Attention to detail and strong analytical skills.
  • Strong, collaborative work ethic, able to take on new projects and responsibilities as part of a growing team.
  • CPA a plus, but not required.

REQUIREMENTS:

  1. Must submit to and pass Corcoran Management Company’s background screening as explained in the employment application.
  2. Must submit to and pass a Drug and Alcohol Screening as explained in the Corcoran Management Company’s Substance Abuse Prevention/Detection Policy.  
  3. Must be able to read, write and communicate in English.
  4. Must wear the appropriate uniform provided for this position.

 

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