Company Description
Headquartered in Madison, WI, SARA Investment Real Estate acquires value-add industrial and multi-family assets throughout Wisconsin, Minnesota, Western Michigan, and Western Ohio. Additionally, SARA develops high-quality multi-family projects in Madison, Wisconsin. Leveraging its in-depth expertise, SARA successfully drives value for tenants and investors.
Role Description
This is a full-time, on-site role located in Madison, WI for a Property Accountant. The Property Accountant will be responsible for preparing financial statements, maintaining accurate and organized accounting records, and reconciling journal entries. Day-to-day tasks also include financial reporting, managing property-related finances, and ensuring compliance with financial regulations.
Reports To
Sr. Director of Accounting
Wage
Exempt
Time Off
As outlined in employment manual
Schedule
8 : 00-5 : 00 PM Monday- Friday in-office; Work schedule is dependent on acquisitions, season and overall needs of the company.
Summary
Provides accounting support for property & corporate / treasury accounting. This will be accomplished in a manner conducive to the policies, business philosophies and ethics as generated and directed by management.
Baseline Qualifications
- Associate's degree in accounting required, bachelor's degree preferred
- 0-2 years of experience
- Yardi & Avid experience is preferred but not required
- Demonstrates excellent computer skills, including MS Excel, Word and Outlook
- Ability to work under direct supervision
- Ability to clearly and effectively communicate information to internal personnel and outside clients verbally and in writing
- Proven ability to compose memos and correspondence
- Possess exceptional organizational skills with the ability to prioritize multiple tasks simultaneously to meet strict deadlines
- Ability to comprehend legal and mortgage documents
Essential Duties and Responsibilities
Accounts Receivable / Tenant Related
Complete daily bank submissions for check depositsEnter Yardi general ledger receipts (both checks & ACH) to apply payments to tenant ledgersReview monthly tenant billing report and verify charges for next month. Prepare / Review CPI rent increase calculations as requiredPost monthly charges to tenant ledgersEmail tenant rent statements for internally managed propertiesAssist property managers with tenant questions on rent statementsEnter basic information on new leases in Yardi (tenant, start & end date of lease, rent charges)Prepare investor contribution information on audited propertiesAccounts Payable
Semiweekly batch approved payables to general ledgerUpdate a weekly check run file for utility paymentsMonitor accounts payable invoices escalated report to identify aged items and collaborate with approvers to ensure timely resolution through payment or voiding of invoiceResearch payables with past due balances or credit balancesMaintain W-9 and COI information for vendorsAssist with 1099 preparationProperty financials for assigned properties
Upload third party financial statements into general ledgerValidate mortgage amortization schedules to third party statements for interest and principal paymentsUpdate rent / cam income calculations to validate current period chargesValidate monthly depreciation / amortization to asset schedule(s)Assist with creating PDF files for cam estimate billings and actual cam recsFinalize month end reports for assigned propertiesUpdate real estate tax escrow transfer amountsAnalyze monthly results for significant variances to budget / prior year and follow up with third party or internal property manager to validate current period resultsMonthly close procedures
Perform bank reconciliations for all propertiesPost recurring journal entries for all internally managed propertiesPost corporate asset management charges and receiptsClose periods in general ledger for accounts receivable / accounts payableBudgets for assigned properties
Review rent revenue and rent steps for existing tenantsCreate CAM revenue portion of budgetsEstimate debt loan balance and amortization schedules for budget yearEnter management fees, capital draws / contributions.Set up budget templates and file folders, verify links and formulas are correctMake necessary changes to budget based on budget reviewsLock and transfer budgets to Yardi main for assigned propertiesAssist with creating PDF files of budgets for approval for assigned propertiesYear End
Supply tax accountants with fixed asset additions for the yearAdjust depreciation / amortization to fixed asset schedulesPrepare annual tax workpapersPrepare annual CAM reconciliationsMiscellaneous projects as requestedCreate CAM worksheets for prospective tenantsMonitor bank balances for all properties based on set criteriaWork Conditions
Work hours average 40 per week with occasional overtime and nights to meet project deadlinesSitting for extended periods of timeDexterity of hands and fingers to operate a computer keyboard, mouse, and other office equipmentInfrequent lifting and transporting of objects, up to 20 poundsNational or in-state travelReferrals increase your chances of interviewing at SARA Investment Real Estate by 2x
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