Accounts Payable Specialist
Who We Are
Detroit-based Bedrock is a full-service real estate firm specializing in acquiring, developing, leasing, financing, and managing commercial and residential buildings. Since its founding in 2011, Bedrock and its affiliates has committed more than $5.6 billion in acquiring and developing more than 100 properties in downtown Detroit and Cleveland totaling more than 16 million square feet.
Bedrock is leading Detroit’s building boom with the city’s largest and most ambitious projects. These projects meet an increasing demand for Class A office space and modern living options in a growing and technology-centric urban core, with an emphasis on ground-level activation and increased walkability. In the next five years, Bedrock plans to deliver 3,500 new residential units to the market; from City Modern, an 8.4-acre neighborhood where residents can age in place; to 28Grand, where residents use the city as their living room; to the Hudson’s project, which will soon be home to Detroit’s tallest building and most landmark address.
Our Core Values: Independently Driven | Never Satisfied | Relentless Commitment to Service
At Bedrock, we create unique experiences through real estate! From your experience each day at the workplace to the experience we create for those who live, work, and play in our spaces, we are focused on making a lasting impression through our properties and developments. We are looking for team members that want to make an impact in the fast-paced world of real estate, management and development and who want to be a part of a team who is changing the landscape in the cities where we work. At Bedrock, you will be a part of an inspirational, energy-filled environment. Come join the momentum! For more Information, visit bedrockdetroit.com or engage with us on Twitter @BedrockDetroit and Facebook.
What You'll Do/Need
The Accounts Payable Specialist reports to our Accounts Payable Manager and is responsible for processing and paying invoices for all assigned properties. This team member interacts daily with the CFO, the Controller and other members of the Accounting team as well as with members of property management.
Our rapidly growing Accounting team is an integral part of Bedrock, managing the day-to-day financial needs of the company. The team is responsible for reporting financial and other relevant information throughout the organization, as well as to lenders, investors and regulatory/tax authorities. The team provides many services, ensuring our tenants are billed accurately and pay in a timely manner and that our vendors and lenders are paid on time. Every month, our team processes over 4,000 vendor invoices and 2,000 vendor payments and receives over 1,000 tenant payments. The team prepares financials for over 130 legal entities each month and manages nearly 20 audits each year. Accounting works closely with the Finance, Property Management and Construction teams to set up budgets, monitor results, and ensure our properties and management companies are adequately funded.
- Ensure all invoices get to the Property Managers and are approved prior to payment
- Sort all invoices returned by Property Managers and give them to the Staff Accountant in charge of that property to code for entry into Yardi
- Enter all invoices in Yardi on Monday through Wednesday morning and review batches for posting
- File posted batches in open invoice folders alphabetically
- On Wednesdays, run detailed aging and bank balance reports for Staff Accountants to review and select invoices to be paid
- Run bank balances when checks are finished
- Separate checks to be signed accordingly; pull invoices and attach to checks
- Submit checks and a check register to the CFO for review
- Ensure the timely mailing of all signed checks and remittance advices
- Call in or pay online utility billings and overnight DTE Primary payments
- Add new vendor contacts and update current vendor information in Yardi; upload a completed W-9 and certificate of insurance for all vendors
- File all paid invoices by vendor and maintain all A/P paid invoice files
- Move paid invoice files at year end and create new files for the coming year
- Assist Staff Accountants with coordinating information for monthly reports
- Complete all vendor credit applications, providing viable references
- Run 1099 reports in January for the CFO to review and approve
- Run 1099s and 1096s for each entity and have 1096 forms signed by the CFO and mailed before the deadline
- Provide direct communication to vendors regarding billing errors, missing invoices and any additional information needed
- Coordinate the setup of all recurring billing information
- Ensure all mortgages, interest and note payments are paid promptly
- Reconcile all vendor statements and contact vendors regarding missing invoices
- Follow up with Property Managers regarding any invoices you question
- Perform special projects and other duties as requested
- Learn the Yardi PAYscan system, help set up the new system, and train project managers and admins on the system
- Bachelor’s degree preferred
- Two years of experience in accounts payable or any equivalent combination of education, experience and training that provides the required knowledge, skills and abilities
- Utility payable experience preferred
- Strong attention to detail, deep dedication to customer service, quality management and a team approach to work
- Ability to set priorities, work simultaneously on numerous tasks and meet strict deadlines
- Sharp verbal and written communication skills, as the position requires communicating with people outside the organization and representing the organization to customers, the public and other external sources
- Proficiency in Microsoft Word, Excel and Outlook
- Experience with Yardi, Voyager and Enterprise is helpful
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