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Property Accountant
Property AccountantSARA Investment Real Estate • Madison, WI, US
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Property Accountant

Property Accountant

SARA Investment Real Estate • Madison, WI, US
17 hours ago
Job type
  • Full-time
Job description

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 deposits
  • Enter Yardi general ledger receipts (both checks & ACH) to apply payments to tenant ledgers
  • Review monthly tenant billing report and verify charges for next month. Prepare / Review CPI rent increase calculations as required
  • Post monthly charges to tenant ledgers
  • Email tenant rent statements for internally managed properties
  • Assist property managers with tenant questions on rent statements
  • Enter basic information on new leases in Yardi (tenant, start & end date of lease, rent charges)
  • Prepare investor contribution information on audited properties
  • Accounts Payable

  • Semiweekly batch approved payables to general ledger
  • Update a weekly check run file for utility payments
  • Monitor accounts payable invoices escalated report to identify aged items and collaborate with approvers to ensure timely resolution through payment or voiding of invoice
  • Research payables with past due balances or credit balances
  • Maintain W-9 and COI information for vendors
  • Assist with 1099 preparation
  • Property financials for assigned properties

  • Upload third party financial statements into general ledger
  • Validate mortgage amortization schedules to third party statements for interest and principal payments
  • Update rent / cam income calculations to validate current period charges
  • Validate monthly depreciation / amortization to asset schedule(s)
  • Assist with creating PDF files for cam estimate billings and actual cam recs
  • Finalize month end reports for assigned properties
  • Update real estate tax escrow transfer amounts
  • Analyze monthly results for significant variances to budget / prior year and follow up with third party or internal property manager to validate current period results
  • Monthly close procedures

  • Perform bank reconciliations for all properties
  • Post recurring journal entries for all internally managed properties
  • Post corporate asset management charges and receipts
  • Close periods in general ledger for accounts receivable / accounts payable
  • Budgets for assigned properties

  • Review rent revenue and rent steps for existing tenants
  • Create CAM revenue portion of budgets
  • Estimate debt loan balance and amortization schedules for budget year
  • Enter management fees, capital draws / contributions.
  • Set up budget templates and file folders, verify links and formulas are correct
  • Make necessary changes to budget based on budget reviews
  • Lock and transfer budgets to Yardi main for assigned properties
  • Assist with creating PDF files of budgets for approval for assigned properties
  • Year End

  • Supply tax accountants with fixed asset additions for the year
  • Adjust depreciation / amortization to fixed asset schedules
  • Prepare annual tax workpapers
  • Prepare annual CAM reconciliations
  • Miscellaneous projects as requested
  • Create CAM worksheets for prospective tenants
  • Monitor bank balances for all properties based on set criteria
  • Work Conditions

  • Work hours average 40 per week with occasional overtime and nights to meet project deadlines
  • Sitting for extended periods of time
  • Dexterity of hands and fingers to operate a computer keyboard, mouse, and other office equipment
  • Infrequent lifting and transporting of objects, up to 20 pounds
  • National or in-state travel
  • Referrals increase your chances of interviewing at SARA Investment Real Estate by 2x

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