The Property Accountant will be assigned a portfolio of properties and be responsible for property level general ledger accounting including but not limited to, expense accruals, expense amortization, and fixed assets; monthly financial reporting, review and analysis of the income statement and balance sheet; assisting in internal and external auditors’ requests, annual budget process; and special projects as assigned. The Accountant will be part of a team related to his or her portfolio of assets, including the asset manager, property manager, lease administrator and property assistant. This position requires initiative, accuracy, excellent analytical and communication skills, and good judgment. The purpose of this position is to ensure the accuracy and integrity of property level financial statements and facilitate the timely reporting of financial information.
The Property Accountant will report to the Manager of Property Accounting, but will work very closely with other members within the organization. The ideal candidate must be detail-oriented, able to work effectively in a team environment, demonstrate strong communication skills, and enjoy a fast paced environment.
Essential Job Duties
- Ensure timely payment and proper accounting of various taxes, including real estate, franchise and personal property.
- Ensure the proper accounting treatment of parking receipts including performing a monthly reconciliation.
- Preparation of all journal entries with appropriate supporting back-up documentation
- Record the monthly property expenses and accruals.
- Ensure recurring capex, major capex and tenant improvement WIP spending is in accordance with established capitalization and depreciation policy.
- Establish fixed asset lives in accordance with Washington REIT’s capitalization and depreciation policy.
- Prepare monthly financial package for assigned properties, including reconciliations, roll-forward and analysis of balance sheet accounts (fixed assets, A/R, prepaids and other assets, accrued liabilities, etc.).
- Perform quarterly expense variance analysis and reporting.
- Prepare annual Income & Expense forms for the assigned properties.
- Assist in gathering and preparing materials for annual budgets.
- Assist in the preparation of the budget narrative and key assumptions.
Qualifications and Experience
- Bachelor’s degree in Accounting, Finance, Economics or related field required
- CPA preferred
- 4 years of relevant Accounting experience
Knowledge Skills and Abilities
- Knowledge of real estate development and construction accounting
- JD Edwards or comparable general ledger systems experience
- Working knowledge of GAAP
- Excellent analytical skills and proficiency in Microsoft Word, Excel, and Outlook are critical.
- Ability to work well within a team environment
Meet Some of Washington REIT's Employees
As an Investment and Asset Management Analyst, Alex focuses primarily on the financial analysis of commercial real estate in the Washington, DC MSA.
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