property accountant
Posted on
October 04, 2024
by
Employer details
Terracap Management Inc
Job details
*POSITION:* Property Accountant - Commercial Real Estate Focus
*DEPARTMENT:* Finance
*REPORTS TO:* Property Accounting Manager
*SALARY: *Commensurate with qualifications
*APPLICATION DEADLINE:* October 18, 2024
*LOCATION:* 100 Sheppard Ave, E., North York
*COMPANY BACKGROUND*
The Terracap Group of Companies is a private equity real estate group based in Toronto. Our diverse portfolio encompasses over 4 million square feet of real estate across North America. The portfolio includes multi-residential, mixed use, hospitality, retail, and office as well as future development lands. Terracap delivers notable value enhancement through strategic acquisitions / investments, professional property & asset management, development, construction management, leasing and related services. Terracap?s investors represent some of the top-tier business leaders and high net worth families in both Canada and the United States.
*POSITION OVERVIEW*
We are seeking an experienced *Property Accountant* with expertise in *commercial and retail property management*, particularly focused on *shopping malls* and *mixed-use properties*. This role requires *strong analytical skills in financial reporting* and *cash flow management*, with the flexibility to support a portfolio that includes both operating properties and those in redevelopment. They will also take on *development accounting* as needed, manage funding for projects, and assist with a variety of other accounting-related projects, such as *tax filings* and *corporate returns*. The ideal candidate will have *3+ years of property accounting experience*, a deep understanding of *Yardi Voyager*, and strong skills in *full-cycle accounting*. You will join an established, high-performing team and contribute to the success of exciting strategic real estate projects.
*KEY RESPONSIBILITIES*
* *Full-Cycle Accounting*: Oversee full-cycle accounting transactions related to the preparation of financial statement packages.
* *Financial Reporting*: Conduct detailed variance analysis, manage cash flow projections, and prepare quarterly financial reports with full general ledger reconciliation.
* *Cash Flow Management*: Oversee cash flow projections for both operating properties and redevelopment projects, addressing funding requirements and ensuring timely updates to stakeholders.
* *CAM & Tax Recovery*: Prepare and process Common Area Maintenance (CAM) and tax recovery invoices and accruals on a quarterly basis.
* *Journal Entries & Reconciliations*: Complete monthly journal entries, GST returns, and bank reconciliations.
* *Compliance & Tax Filings*: Handle tasks such as nil T2 tax returns, Toronto and BC vacancy tax filings, annual corporate returns, and other regulatory filings.
* *Budgeting & Forecasting*: Manage the budgeting and reforecasting of revenue and expenses, including non-recoverable costs and cash flow projections.
* *Tenant Management*: Set up new tenants, update charges, correct lease terms as required and assist with lease-related financial tasks.
* *Compliance & Standards*: Ensure compliance with GAAP and IFRS in all accounting practices and reports.
* *Property Accounting for Investors*: Complete property accounting tasks for investors and sub-investors, ensuring timely and accurate reporting.
* *Accounts Payable & Receivable*: Coordinate and assist with pre-authorized payments, chargebacks, invoices, and accounts payable, including cheque preparation.
* *Year-End Procedures*: Assist the Property Accounting Manager with year-end closing procedures, including preparing year-end adjustments and supporting the audit process.
* *Development & Redevelopment Accounting*: Support properties in redevelopment phases, including tracking costs, managing funding allocations, and ensuring proper project accounting.
* *Collaboration*: Work closely with other departments and contribute to special projects as needed, demonstrating a willingness to assist with *ad-hoc accounting tasks*.
*QUALIFICA
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LocationNorth York, ON
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Workplace information
On site
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Salary$80,000 to $100,000YEAR annually
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Terms of employment
Permanent employmentFull time
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Starts as soon as possible
- vacancies
1 vacancy
- Source
indeed.com
#9474647093
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