Staff Accountant
Media, PA
On-site, in Office, 5 days per week
(Full Time, Permanent Opportunity)
We are seeking an experienced Staff Accountant to join our Team.
The following Job Description is broken down into Responsibities that are performed Daily, Weekly, Monthly, Quarterly and Yearly.
We ask that you have experience with Real Estate and Property Management Accounting.
Daily Tasks:
Cash Management
- Review daily bank activity and cash balances.
- Record cash receipts and tenant deposits.
- Process ACH and wire transactions.
- Monitor lockbox activity.
General Ledger
- Prepare and post journal entries.
- Review general ledger transactions for accuracy.
- Investigate unusual account activity.
- Correct coding errors as needed.
Accounts Receivable
- Review rent collections.
- Monitor delinquent tenant accounts.
- Apply tenant payments.
- Coordinate with Property Management on collection issues.
Accounts Payable Support
- Review invoice coding for accuracy.
- Assist with approval workflow questions.
- Monitor vendor payment status.
- Respond to accounting inquiries from vendors and property managers.
Property Accounting
- Review daily property financial activity.
- Record tenant billings and adjustments.
- Monitor utility and operating expense allocations.
- Track capital expenditure activity.
Account Monitoring
- Review suspense accounts.
- Investigate outstanding reconciling items.
- Monitor prepaid expenses and accruals.
- Review intercompany transactions.
Communication
- Respond to requests from:
- Property Managers
- Asset Managers
- Vendors
- Executive Management
- Provide financial information as requested.
Weekly Tasks:
Bank Reconciliations
- Complete bank reconciliations.
- Review outstanding checks.
- Investigate unreconciled transactions.
- Resolve banking discrepancies.
Financial Review
- Review revenue trends.
- Analyze operating expenses.
- Compare actual expenses to budget.
- Investigate significant variances.
Accounts Receivable Review
- Review aging reports.
- Follow up on outstanding tenant balances.
- Coordinate collection efforts.
- Review bad debt reserves.
Capital Projects
- Review capital expenditure invoices.
- Update fixed asset records.
- Monitor construction-in-progress (CIP).
- Ensure proper capitalization.
Lease Accounting
- Review new lease activity.
- Record lease amendments.
- Verify rent schedules.
- Update lease accounting records.
Internal Controls
- Review journal entries prepared by others.
- Verify supporting documentation.
- Ensure compliance with accounting policies.
- Identify process improvement opportunities.
Month-End Closing Tasks:
Close Preparation
- Review month-end close checklist.
- Ensure all invoices have been recorded.
- Verify all rent has been billed.
- Confirm cash transactions are complete.
Journal Entries
Prepare and post:
- Accruals
- Prepaid expense amortization
- Depreciation
- Fixed asset additions
- Interest expense
- Intercompany entries
- Payroll allocations
- Recurring journal entries
Reconciliations
Reconcile:
- Bank accounts
- Accounts receivable
- Security deposits
- Escrow accounts
- Fixed assets
- Prepaid expenses
- Accrued liabilities
- Deferred revenue
- Intercompany accounts
- All balance sheet accounts
Financial Statement Preparation
Prepare:
- Income Statement
- Balance Sheet
- Cash Flow Statement
- Trial Balance
- Property operating statements
- Owner reports
Financial Analysis
Analyze:
- Budget vs. Actual
- Prior Month vs. Current Month
- Prior Year comparisons
- Occupancy trends
- Rental revenue
- Operating expenses
- Net Operating Income (NOI)
- Cash flow
Prepare explanations for material variances.
Fixed Assets
- Capitalize qualifying expenditures.
- Record depreciation.
- Dispose