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Int. Accountant responsible for property accounting on a set of commercial real estate assets-5287

S.i. Systems

This is a Contract position in Toronto, ON posted November 5, 2020.

Job Id- 5287
Duration: 12 Months (Possibility for extension)
Location: Downton Toronto

Int. Accountant responsible for property accounting on a set of commercial real estate assets -5287

Our Clients Real Estate Accounting business is looking for an individual to join the team who will be responsible for property accounting on a set of commercial real estate assets that could include office, industrial, and retail properties located within our global portfolio. In this role you will prepare month-end, quarter-end, and year-end property accounting financial statements according to accounting standards and conduct comprehensive business-focused variance analysis and commentaries regarding variances. In addition, you may participate in special projects and operational improvements while ensuring accounting processes are executed efficiently and effectively across the portfolio.

Key Accountabilities
• Preparation of month-end, quarter-end, and year-end property accounting including financial statements according to accounting standards and conducts comprehensive business-focused variance analysis and commentaries regarding variances.
• Maintain and update monthly and annual general ledger account reconciliation working papers and follow-up to ensure items are cleared according to guidelines, procedures, policies, and deadlines.
• Responsible for property accounting journal entries including operating expense accruals, revenue accruals, amortization, depreciation, and other entries as required.
• Review, code, and ensure processing of accounting related accounts payable such as audit fees, property taxes, and tax remittances (GST/HST/QST/State Tax/etc.).
• Review and approve bank reconciliations and prepare packages for review.
• Prepare annual municipal property tax and other regulatory related financial and operational reporting requirements for review.
• Calculate and prepare tenant chargebacks as required such as direct use utilities to tenants.
• Contributes to the preparation of property budgets and forecasts including calculating key accounting budget items and reviewing to ensure property accounting budgets are reasonable such as: reviewing and validating leasing revenue, CAM & TAX recoveries by tenant, straight-line rent, and fixed assets.
• Setup and maintain straight line rent and responsible for straight line rent variance analysis.
• Create and maintain tenant CAM & TAX recovery models in accordance with tenant lease terms and prepares tenant year end CAM and Tax billings/invoicing in accordance with tenant lease terms
• Key reviewer and contributor to the lease administration workflow including reviewing lease term inputs for accuracy and helping to determine recoveries and straight-line rent setups.
• Create and monitor cash flow projections, prepare cash call and distribution instructions.
• Support Property Managers and Property Administrators for any financial accounting questions or information as required.
• Reconcile and maintain a full understanding of all balance sheet and income statement accounts and prepare a detailed variance analysis of revenue and expenses;
• Ensure all GST/HST/QST/State Tax and other legislated taxes are reconciled and remitted;
• Assist with auditor requirements, including the company’s audit firm and all partner/co-owner audit firms, as well as government audits when required;
• Ensure accounting processes are executed efficiently and effectively across the portfolio, and technology and system generated reports are fully utilized.

Must haves:

  • 2+ years experience as an Accountant working on month-end and accounting cycle for the preparation of full set of financial statements for properties.
  • Experience with Preparation/review of financial statements, cash management, budgets, audit working papers and Tenant operating cost adjustments.
  • A University Degree or College Diploma in an accounting related field of study and active enrollment in a recognized accounting program (CPA).
  • Experience with Microsoft Excel and working with enterprise systems such as ERP preferred