Accounting Associate

Overview

A Property Accounting Associate is responsible for managing and overseeing the financial aspects of real estate properties, ensuring accurate documentation of income and expenses, and supporting the financial integrity of property investments. This role bridges the gap between real estate operations and financial management, working closely with property managers, owners, and vendors to maintain financial records and ensure compliance with accounting standards and regulations.

Key Responsibilities:
• Prepare monthly, quarterly, and year-end financial statements and reporting packages for assigned properties.
• Record and process accounts payable (AP) and accounts receivable (AR), including tenant billing, cash receipts, and bank deposits.
• Maintain the general ledger by preparing journal entries and reconciling accounts, including monthly bank statement reconciliations.
• Analyze financial transactions and determine appropriate accounting treatment in accordance with Generally Accepted Accounting Principles (GAAP).
• Assist with the preparation and review of annual operating budgets and financial forecasts.
• Conduct common area maintenance (CAM) and real estate tax reconciliations, and communicate overages or shortages to tenants.
• Monitor daily cash balances and assist with cash flow projections and planning.
• Assist with special projects and ad-hoc tasks as assigned by management.

Required Skills and Qualifications:
• Bachelor's degree in Accounting, Finance, Economics, or Business Management is typically required.
• At least two years of general accounting experience; experience in real estate property accounting is preferred.
• Proficiency in Microsoft Word, Excel, and accounting software (e.g., MRI, Yardi, AppFolio) is highly desirable.
• Strong organizational, analytical, and time management skills, with the ability to multitask and prioritize in a fast-paced environment.
• Excellent verbal and written communication skills for collaborating with team members, property managers, and external stakeholders.
• Solid understanding of accounting principles, financial statements, and real estate operations.
• Attention to detail and accuracy in data entry and financial analysis.