New England Development

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Property Accountant

Boston, MA
Full-time

KEY AREAS:

I. Budgets

II. General Ledger Maintenance

III. Financial Reporting (Internal & External)

IV. Partner Distributions/Contributions

V. Bank Reconciliations

VI. Tenant Billings / Charges

VII. Year End Work Papers/Audits


JOB DESCRIPTION:

I. Budgets

· Assist in preparation of annual property budgets (including capital) for upcoming year

· Assist Property Manager with certain line items (income and expenses)

· Review rent assumptions from Leasing Team

· Review projected CAM & RE Tax recovery rates and percent rent

· Review budget prior to final approval by management

· Prepare executive summary based on approved budgets

· Prepare on accrual & cash basis

II. General Ledger Maintenance

· Review G/L monthly to verify accuracy of transaction postings

· Prepare journal entries as necessary including recurring

· Interface with corporate accounting, property management, accounts receivable, accounts payable and lease administration to resolve issues

· Approve & code certain AP invoices

· Review capital expenditure change orders, and update job cost budgets as needed.

III. Financial Reporting (Internal & External)

· Prepare monthly cash flow projections

· Prepare financial statements including variance analysis periodically including reforecasting

· Prepare balance sheet reconciliations and schedules as required for internal and external reporting.

· Prepare financial package for outside partners in accordance with management/LLC agreement

· Participate in monthly meetings to review cash flow projections and financial statements

· Assist in lender reporting as required in property loan agreements.

II. Partner Distributions/Contributions

· Budget partner calls and distributions per original cashflow projections

· Prepare partner calls and distributions as required

· Maintain schedules of partners’ percentages in accordance with LLC/LP agreements

· Adjust projected distributions & contributions to assure adequate cash balances

III. Bank Reconciliations

· Prepare bank reconciliations for entities assigned

· Resolve / research open reconciling items.

IV. Tenant Billings / Charges

· Review tenant reconciliations for CAM and RE Taxes.

· Assist in tenant billing inquiries and provide information to Collections Group.

· Review percent rent calculations and posted charges.

· Review all Tenant charges

V. Year End Work Papers

· Finalize CAM expenses to prepare annual tenant reconciliation.

· Make necessary year-end adjustments to finalize financial statements and tax return.

· Prepare appropriate schedules to support year end balances

· Assist in K-1 estimates required various times during the year

· Assist in year-end audit requirements/schedules


JOB QUALIFICATIONS/REQUIREMENTS:

• Bachelor’s degree in Accounting/Business

• 2+ years’ work experience in related field

• Experience with property management software preferred

• Knowledge of commercial real estate, lease documents, lease language & interpretation preferred

• Proficient in the use of Microsoft Word, Excel and Adobe

• Strong verbal and written communications skills

• Well organized, self-motivated, and detail oriented, with excellent interpersonal skills

• Demonstrated ability to take initiative, set priorities, handle a wide range of tasks simultaneously, and shift priorities in a fast-paced environment.

• Must be flexible and willing to take on new assignments.

• Excellent judgment and discretion are required

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