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Residential Property Accountant

4 weeks ago


Toronto ON, Canada 3 Step Recruitment Inc. Full time

3 Step Recruitment is assisting a Toronto, ON client in the search of an Residential Property Accountant. 
The Residential Property Accountant will be responsible for organizing the full accounting cycle for a portfolio of real estate properties. This responsibility includes analysis and research to provide the organization with high quality accounting information.
Main Responsibilities:
Reporting:

  • Prepare month-end journal entries and maintain monthly bank reconciliation, general ledger reconciliations to the sub ledger: cash, accounts receivable, inter-company balances, prepaid expenses, fixed assets, accrued expenses and liabilities.
  • Organize full accounting cycle for real estate properties.
Income statements:
  • Prepare monthly operating income statements and balance sheets for all Company owned and third-party residential properties with supporting schedules and submit to operation department for review.
Budgets:
  • Prepare budget template including previous year's budget and current year forecast to Property Managers and assist Property Managers and Senior Accountants in preparing each property's yearly budgets.
Year End:
  • Prepare year-end working paper files, provide auditors with financial statements, comparative analyses, sub ledger schedules, back ups.
  • Assist in audit of residential properties.
Transactions for new or sale properties:
  • Ensure all transactions are recorded, including asset purchases / sales of land / building; SOA; monitor post-closing to be completed within the timeframe dictated by the purchase and sale document.
Monitoring Accounts Receivable (A/R), Accounts Payable (A/P):
  • Oversee A/R and A/P including review cash requirement reports and reconcile tenant statements. Monitor banking deposits and daily balances.
  • Monitor operational expenses on a monthly basis by performing variance analysis.
  • Review and initial residential expenditures including allocation to appropriate property and expense account.
Bank reconciliation process :
  • Daily/weekly/monthly bank reconciliations for Residential banking accounts and tenant refund banking account.
Other:
  • Liaise with property administrators and property managers.
  • Maintain third party property files to include mortgage schedules, insurance liability schedules, capital item warranties and revenue contracts.
  • Take initiative to propose improvements of the accounting process or management of the flow of information to Senior Accountant.
Qualifications:
Education
  • College/University degree in Accounting, Finance or related field required.
  • CPA designation or in progress required.
Experience
  • 3 to 5 years of accounting experience in Residential property management.
  • Minimum of 1-year experience working with Yardi Voyageur.
Skills and abilities
  • Support our company's values: Honesty, Integrity, Respect, Trust.
  • Possess strong analytical and problem-solving skills.
  • Maintain precise attention to detail.
  • Possess strong computer skills; advanced in excel.
  • Provide excellent communication and customer service.
  • Takes initiative.
  • Able to be a self-starter with ability to work independently, as well as part of a team.
  • Provide good cooperation (easy going, supportive) with all members of the accounting team, with other departments and with clients (including their financial institutions, auditors and staff).
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