Property Accountant

2 weeks ago

Toronto, Ontario, Canada JLL Full time

About the Role:

The Property Accountant will play a key role in preparing month-end, quarter-end, and year-end financial statements for commercial properties. This includes conducting comprehensive business-focused variance analysis and commentaries regarding variances. The incumbent will also participate in special projects and operational improvements, ensuring accounting processes are executed efficiently and effectively across the portfolio.

Key Responsibilities:

  • Prepare month-end, quarter-end, and year-end financial statements for commercial properties, including financial analysis and commentary.
  • Conduct comprehensive business-focused variance analysis and commentaries regarding variances.
  • Participate in special projects and operational improvements to enhance accounting processes and efficiency.
  • Ensure accounting processes are executed efficiently and effectively across the portfolio.
  • Prepare and review financial reports, including balance sheets, income statements, and cash flow statements.
  • Perform bank reconciliations and prepare packages for review.
  • Calculate and prepare tenant chargebacks as required.
  • Setup and maintain straight line rent and responsible for straight line rent variance analysis.
  • Contribute to the preparation of property budgets and forecasts, including calculating key accounting budget items and reviewing to ensure property accounting budgets are reasonable.
  • Create and maintain tenant CAM & TAX recovery models in accordance with tenant lease terms and prepares tenant year end CAM and Tax billings/invoicing in accordance with tenant lease terms.
  • Key reviewer and contributor to the lease administration workflow, including reviewing lease term inputs for accuracy and helping to determine recoveries and straight-line rent setups.
  • Create and monitor cash flow projections, prepare cash call and distribution instructions.
  • Support Property Managers and Property Administrators for any financial accounting questions or information as required.
  • Reconcile and maintain a full understanding of all balance sheet and income statement accounts and prepare a detailed variance analysis of revenue and expenses.
  • Assist with auditor requirements.

Requirements:

  • 2+ years of commercial property accounting experience is preferred.
  • A University Degree or College Diploma in an accounting related field of study or active enrollment in a recognized accounting program (CPA).
  • Proficiency in Microsoft Excel and enterprise level real estate systems is required, experience with Yardi is preferred.
  • Working knowledge of month-end and accounting cycle for the preparation of full set of financial statements for properties.
  • Preparation/review of financial statements, cash management, budgets, audit working papers and Tenant operating cost adjustments.
  • Excellent communication including strong written and verbal communication skills.
  • Highly organized with an exceptional attention to detail.
  • Effective time management skills, works well under pressure to meet tight deadlines; ability to handle multiple demands and competing priorities; ability to prioritize workload; ability to work and analyze at a high level; willingness to learn in a dynamic environment that includes new ideas and change.
  • The ability to perform with exceptional integrity, always striving to do the right thing and help to create an environment built on trust, honesty and respect.
  • Keen interest and dedication to life-long learning and self-improvement.
  • Dedication to service excellence for customers, clients, and team members with an eagerness to share ideas and look for opportunities to improve.

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