Property Accountant

1 month ago

Greater Toronto Area, Canada Professional Staffing Full time

My Client is seeking a Senior Accountant - Commercial Property


ROLE OVERVIEW:

The Senior Accountant will ensure the accuracy and propriety of all financial data and reports

maintained and prepared for the properties/projects, tier entities, and investors.

RESPONSIBILITIES:

 Lead the accounting of a large office building totaling 400,000 square feet.

 Works closely with the applicable team (e.g., Property Manager, Chief

Engineer and Vice President Controller) to ensure accuracy of financial reporting, loan

administration (as applicable) and budgets.

 Treasury functions, including cash management and cash flow projections.

 Prepare funding request to investors as needed.

 Prepare HST filings and initiate payment of tax liabilities.

 Prepare and review monthly financial statements and supporting schedules.

 Prepare standard reference requests for new EFT/wire relationships.

 Prepare bank reconciliations for project operating accounts.

 Review AR aging and assess collectability; recommend write-offs/reserves as needed.

 Manage accounts payable functions including but not limited to: issue checks, set up

any wire/EFT payments, maintain vendor files and assist with any vendor inquiries.

 Manage lease administration process ensuring the proper lease accounting treatment

per IFRS or other basis of accounting.

 Prepare yearly rental payment schedules for tenants.

 Prepare operating and tax expense reconciliations (true-ups) as required per governing

documents (leases, management agreement, etc.).

 Ensure percentage rent is computed and charged accurately.

 Generate straight-line rent computations through accounting software and ensure

accuracy.

 Administer work order billings to tenants on a monthly basis.

 Prepare and record journal entries.

 Ensure records are being maintained timely, accurately and in compliance with IFRS or

other basis of accounting.

 Perform month-end close procedures including preparation and review of account

reconciliations for more complex accounting areas.

 General ledger review and analysis.

 Assist in Property and Companies Annual Plan/Budget/Projection preparation process by

preparing revenue projections and variance analysis for certain accounts, generating

reports, and preparing budget package.

 Prepare information for various audits (e.g., external, internal, tenant), as needed.



POSITION DESCRIPTION


 Prepare monthly/quarterly financial statements and supporting schedules working

closely with Property/Project Manager to ensure accuracy.

 Prepare quarterly debt compliance, if applicable, including compliance certificates and

DSCR/Debt Yield calculations in accordance with loan documents.

 Research accounting guidance and draft position memos documenting accounting

treatment of new/unusual items.

 May assist Asset Manager with maintaining Argus models or reconciliations between

Argus model and Property Budget/Projections.

 Carry out the proper procedures to ensure internal controls are being met.

 Prepare support for external tax preparers, necessary to compute tax estimates and

prepare annual tax return filings.

EXPERIENCE:

 Five or more years professional accounting experience.

 Real estate accounting experience required.


Resumes to : Devike.soundranayakam@Professionalstaffing.ca



Candidates must be eligible to work in Canada

I would like to thank all the candidates in advance, due to the large volume applicants only the short-listed candidates will be contacted.

Please do stay connected on LinkedIn for future opportunities

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