Senior Client Accountant

About the role

The Senior Client Accountant is responsible for various accounting duties for assigned properties, including preparing financial reports, entering accrual and cash journal entries, reviewing operating statements and variance reports, preparing escalation and payable reviews, and performing reconciliations. This role ensures accuracy, consistency, and adherence to Management/Leasing Agreements and SOC1 controls. The Senior Client Accountant also utilizes assigned real estate accounting software to perform client accounting tasks and collaborates with property management to meet reporting deadlines.

Responsibilities

• Review and submit tenant billings and adjustments according to information provided by the Property Manager.
• Submit CM batches for review and posting.
• Maintain property cash balances.
• Review and approve large accounts payable disbursement items.
• Prepare and submit weekly Open A/P report for weekly check-run processing.
• Review and/or prepare bank reconciliations each month for all bank accounts assigned.
• Review the monthly posting of the Rent Roll by property management.
• Ensure that changes from the prior month Rent Roll are reasonable.
• Review aged delinquency report for adjustments, credits, and ensure cash receipts have been properly applied to each tenant’s account.
• Review and revise all supporting schedules with monthly charges as required by the Owner.
• Maintain sub ledgers and supporting schedules to tie to the general ledger.
• Review the general ledger and income statement for additional adjusting entries.
• Contact the PM to confirm entries and book them.
• Review financial statements and monthly reports confirming that all supporting schedules tie to the financial reports.
• Submit monthly financial report package to the accounting manager for review.
• Monitor property bank account cash balances.
• Check bank account website for balance, ACH deposits, bank fees, and ensure sufficient funds are available for current AP batch.
• Transfer funds as necessary between property cash accounts to cover check-runs.
• Request owner funding if necessary or typical for property.
• Prepare documentation and paperwork for voids and stop payment on stale-dated checks that have not been presented for payment; submit paperwork to accounting manager for processing.
• Absorb and assist in the review of prior year CAM, real estate tax escalation reconciliations and answering questions from Auditors as needed.
• Prepare calculation for owner distribution based on owner requirements and time schedule.
• Initiate monthly owner distribution as set forth in the Property Management Agreement.
• Prepare monthly rent-up reports to send to the property manager for review.
• Post rent-ups after the property manager sends approvals.
• Make corrections/adjustments on tenant ledger as directed.
• Ensure timely payment of mortgages and property taxes.
• Calculate the monthly Management Fee and/or Incentive Management Fee due Transwestern, including all required documents for backup.
• Maintain scanned copies of monthly reporting packages, bank statements and reconciliations.
• Load all required documents into OneSpace.
• Communicate effectively with clients, internal and external auditors, tax preparers and team members as required.
• Calculate and file sales tax.
• Perform or assume additional client accounting duties as assigned.

Requirements

• A bachelor's degree with emphasis in accounting, finance or related field preferred.
• A minimum of 4+ years of recent fee-based property management accounting experience.
• Working knowledge of financial terms and principles including knowledge of current accounting methods (cash and basic accruals).
• Ability to apply generally accepted accounting principles (GAAP).
• Working knowledge of the budget reporting requirements of each Owner and participation/assistance in the preparation of the annual budget with members of property management.
• Working knowledge of the escalation and operating expense budgeting and settlement process, including the calculation of “gross-ups” and participation/assistance in the preparation of the actual settlement schedules.
• Applicable experience in real estate accounting software packages, preferably with MRI and/or Yardi.
• Proficiency with Microsoft Word, Excel, and Adobe.
• Strong analytical capabilities with a high attention to detail.
• Ability to handle multiple projects, changing priorities and demanding, time-sensitive, work load(s).
• Ability to receive general work supervision/be self-managed/work independently.
• Ability to provide efficient, timely, reliable and courteous service to internal and external customers.
• Ability to keep information and internal communications confidential.
• Exhibit excellent verbal and written communication skills.
• Must be able to remain in a stationary position 50% or more of the time/constantly operate a computer and other office productivity machinery (ex. a calculator, copy machine, computer printer).