Property Accountant Job Description Example
What Does a Property Accountant Do?
Property accountants are responsible for the daily accounting operations on public properties.
Their job description entails maintaining records of received/due tenants’ rents and occasionally conducting account reconciliation to verify tenant statements.
In performing their duties, property accountants conduct research and audits to confirm enquiries regarding tenant statements.
They prepare monthly and quarterly close for buildings and properties. They also review accounts payable vouchers for maintenance/repair costs.
Property accountants complete general ledger entries and manage cash balances. Usually, they prepare and deliver to accounts payable units invoices for security deposit refunds.
Their role also involves reviewing account records such as credit memos, non-recurring tenant billings and cash receipts to ensure accurate accounts.
They also process and review accounts receivable for respective properties.
As part of their work description, property accountants prepare and issue tenant statements of properties to owners to update them on generated revenue and expenditures.
They also analyze the general ledger and ensure it is accurate and balanced.
Property accountants crosscheck input information for property and tenant lease to ensure it’s up-to-date.
They oversee the remittance and reconciliation of all legislated taxes. They also carry out forecasts to identify future cash deficiencies in order to effectively manage cash positions.
In performing their duties, property consultants analyze variances using specialized tools in order to reconcile payments, which are against contract values.
They oversee the forwarding of rental notices to tenants prior to the beginning of a new budget operating year.
They also ensure follow-up on draft budget status is completed before set deadline.
Property accountants assist with the preparation of documents for annual audits and tax filing processes.
They ensure all accounting information regarding property budgets and annual business plans are completed within set deadline.
They maintain proper records of amortization/depreciation of fixed assets and leasing commissions.
The property accountant job typically can be accessed with a Bachelor’s degree in accounting, economics, finance, or business.
Experience in accounting and management of real estate/commercial properties is also necessary for the job position.
Some of the qualities that aid success on the job include multi-tasking, analytical, and communication skills.
Property Accountant Job Description Example/Template
The property accountant role entails various tasks, duties, and responsibilities.
The job description example presented below shows the functions of the position you will likely perform if hired:
- Conduct research and audits to confirm enquiries regarding tenant statements
- Prepare monthly and quarterly close for buildings and properties
- Review accounts payable vouchers for maintenance and repair costs
- Complete general ledger entries and manage cash balances
- Prepare and deliver to accounts payable units invoices for security deposit refunds
- Review account records such as non-recurring tenant billings, cash receipts and credit memos to ensure accurate accounts
- Process and review accounts receivable for respective properties
- Prepare and issue property tenant statements to owners in order to update them on generated revenue and expenditures
- Analyze the general ledger to ensure its accurate and balanced
- Crosscheck input information for property and tenant lease to ensure its up-to-date
- Oversee the remittance and reconciliation of legislated taxes
- Carry out forecast to identify future cash deficiencies in order to effectively manage cash positions
- Analyze variances using specialized tools in order to reconcile payments which are against contract values
- Oversee the forwarding of rental notices to tenants prior to the beginning of a new budget operating year
- Ensure follow-up draft on budget status is completed before set deadline
- Assist with the preparation of documents for annual audits and tax filing processes
- Ensure all accounting information regarding property budgets and annual business plans are completed within set deadline
- Maintain proper record of depreciation and amortization of fixed assets and leasing commissions.
Property Accountant Resume Preparation
If you are seeking a new property accountant job and need to prepare a resume, the above sample job description can assist you in preparing the work experience part of the document.
The job experience section of the resume is made by highlighting the duties and responsibilities that you carried out while working as a property accountant.
Therefore, if you have worked before as a property accountant before, making this section becomes easy by adapting the responsibilities of the position provided in the sample work description shown above.
Requirements – Skills, Abilities, and Knowledge – for Property Accountant Job
If you are looking to work as a property accountant, there are certain requirements employers will want you to meet.
The following list gives the major requirements to satisfy to be considered by most employers for the property accountant role:
- Education and Training: To become a property accountant, you require a Bachelor’s degree in accounting, economics, finance, or business. You also require about 4-5 years of experience as an accountant and 2-3 years of relevant experience in real estate or commercial property management
- Multi-tasking Skills: Property accountants are able to juggle accounting projects for several properties
- Analytical Skills: They are skilled in conducting periodic review and analysis of financial records to ensure balanced accounts
- Communication Skills: They are able to interpret accounting results using language and terms understandable to property owners or management.
Property Accountant Skills for Resume
In making a property accountant resume, the above mentioned skills and qualities can serve as a helpful guide in filling out the skills section of your resume.
The skills section is the part of your resume that shows employers the relevant skills you have that will aid your performance on the job.
Therefore, having the above qualities and then putting them in your resume to prove to employers that you have what is required to succeed as a property accountant will make your resume more powerful in getting you an interview.
If you are aspiring to work as a property manager, the job description presented above gives you the duties and responsibilities of the job to expect to perform if hired.
This will help you to prepare well for the job and to increase your chances of succeeding in it.
And for employers looking for good property accountants to hire, the job description template for the position also given above can help you to find and recruit such individuals, and to design your own effective property accountant work description for them to execute.
Did you find this post valuable in knowing more about what property accountants do? We would like to know what you think about this post, please make a comment in the box below.