Residential Property Accounting Manager

4 weeks ago

Toronto, Canada Sterling Karamar Property Management Full time

**Purpose**: 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.

**Scope**:
Fulfill all responsibilities and activities in close cooperation with other Property Accountants, A/P Clerks, Property Administrators and Property Managers.

**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).

INDHP

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