Project Accountant Industry: Real Estate, Commercial & Residential Construction Position: On-Site 4 days, 1 day remote Type: Direct hire Salary: $75,000- $95,000
PROJECT ACCOUNTANT Named one of the Washington, DC metropolitan area's best places to work, our client is seeking a Project Accountant to join their award-winning team.
Responsible for all accounting aspects of a select number of operating and/or development real estate projects including financial statement preparation; investor, owner and lender reporting; variance analysis; budgeting; forecasting; lease administration; management of audits and tax return preparation; oversight of bill payment and rent collection; and various ledger analysis and reconciliations.
Work as part of a team that also includes members of the property management, asset management, construction/development, and leasing divisions.
Must have strong communication skills to deal directly with third parties involved with projects inclusive of tenants, equity and debt investors, accounting firms and lawyers.
The Project Accountant supports, reports to and is evaluated by the Portfolio Controllers. Overall quality control, productivity and workflow will be coordinated by the Portfolio Controllers.
The Project Accountant must have a college degree with an emphasis in accounting.
Ideal candidates will have a CPA designation with audit experience in a public accounting firm along with two to five years of experience in the commercial real estate industry; prior Yardi experience is a plus.
A Project Accountant must possess strong organizational and communication skills and be fully competent in Excel, as well as have the ability to produce under pressure with a strong sense of detail, accuracy and cooperation.
A successful Project Accountant must have the capability to work and problem-solve independently, as well as adapt to changing priorities and responsibilities.
Responsible for projects on a comprehensive basis -understanding and adhering to operating agreements, including all reporting responsibilities, as well as loans, equity structures (including capital accounts and distribution waterfalls) and any other agreements in place.
Responsible for all aspects of the accounting for assigned projects. He or she will manage the general ledger and prepare journal entries, bank reconciliations and subsidiary schedules as support of the financial records.
The Project Accountant is responsible for a multitude of aspects of periodic (typically monthly) investor reports, including preparation of the financial statements, variance analysis and communicating with investors (through meetings or direct contact) with answers and follow up to questions and other enquiries.
The Project Accountant is responsible for ensuring sufficient cash flow to fund the operations of the property and meet all debt and other obligations in a timely manner. The Project Accountant is required to prepare and submit to owners and/or lenders funding requests or capital calls, if necessary.
With assistance from the Operations Support Accountant group, the Project Accountant will be responsible for administering the leases of his or her projects, ensuring proper accounting according to the terms of the leases, preparation of rent projections and reconciliations, preparation of rent rolls and stacking plans, and tracking of tenant improvement allowances, lease commissions and any other tenant leasing costs.
In conjunction with the property management team members, the Project Accountant is responsible for the preparation of project annual operating plans
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