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Project Accountant

Company: Transwestern
Location: Midland
Posted on: October 2, 2018

Job Description:

Job Description The Transwestern family of companies together comprise a privately held, diversified real estate services, investment and development organization. A unique approach underlies our success. We do business differently by empowering our team members with the resources and independence to deliver extraordinary results to our clients. It's simple. We start with hiring hard-working, smart, genuinely good people, and organize them in collaborative cross-functional teams. We give them the support to outperform and the freedom to take ownership as they work to exceed our clients' expectations. We do business differently, and that makes us Transwestern. The Project Accountant will perform routine accounting duties and prepare monthly financial reports and reconciliations to be reviewed by an Accounting Manager. The Project Accountant will be expected to use the assigned real estate accounting software(s) (e.g., MRI, Skyline, PAM, Timberline, Yardi, and AMSI) to perform his/her tasks. The Project Accountant will work with Property Management to insure that all reporting deadlines are met, e.g., monthly operating reports, annual budgets, escalation settlements, etc., and that all Owner policies and procedures are consistently and accurately followed for the assigned properties. It is also the responsibility of the Project Accountant not only to exhibit legendary customer service when communicating with tenants, prospective tenants, owners, and vendors but also to focus on productivity and results. Responsibilities ESSENTIAL JOB FUNCTIONS: Review and post tenant billings, additional billings/adjustments according to information received from the property manager. Review and post cash receipt batches entered by the Administrative Assistant or Accounting Assistant. Review and approve all large accounts payable disbursement items, e.g., items over $5,000 or $10,000 where appropriate. Respond to vendor and tenant inquiries concerning account balances. Assist and answer questions from Auditors for properties that require audits. Prepare Operating and Real Estate Tax escalation adjustments for prior year true-up and current year estimates. Enter and post adjustments to tenant's accounts and change recurring charges. Maintain property cash balances. Submit Open A/P report for weekly check run processing after reviewing property's available cash balances. Transfer funds as necessary between property cash accounts to cover check runs. Initiate monthly distributions to Owners based upon the requirements set forth in the Management Agreement. Insure timely payment of mortgages and property taxes. Review and/or prepare bank reconciliations each month for all bank accounts associated with the properties assigned. Prepare owner distribution based on owner requirements and time schedule. Enter new and amended leases from lease abstracts into the appropriate accounting system. Insure that the information entered agrees with the lease abstract and the appropriate financial sections of the lease document. Review the monthly posting of the Rent Roll by property management. Insure that changes from the prior month Rent Roll are reasonable, e.g., current month move-in's or move-out's, rent steps, etc. Review Aged Accounts Receivable listings with the property manager for any adjustments, applying open credits to open charges, and insure that cash receipts have been properly applied to each tenants' account. As appropriate, close Accounts Payable, Accounts Receivable, Commercial Management modules to the General Ledger at the end of the month. Review or prepare all supporting schedules as required by the Owner. Ensure sub ledgers and supporting schedules tie to the General Ledger. Review the General Ledger for any adjusting entries or accruals and make all necessary journal entries. Print and review financial statements and all monthly reports and tie all supporting schedules to the financial statements. Submit the monthly financial package to the Accounting Manager for review and then forward to the property manager. Calculate the monthly Management Fee and/or Incentive Management Fee due TW. Understand the budget reporting requirements of each Owner and participate/assist in the preparation of the annual budget with members of property management. Understand the escalation and operating expense budgeting and settlement process, including the calculation of "gross-ups", and participate/assist in the preparation of the actual settlement schedules. Communication with internal and external auditors and tax preparers as required. Interfacing and effectively communicating with other fellow TW Team Members not only in the accounting and property management departments, but also with leasing, information technology, TW Corporate Accounting, etc. Effectively utilize the assigned real estate accounting software to perform required tasks. For MRI properties post Rent-up around the 25th of each month for next months rent. Charges must be posted prior to tenant invoice printing. Review A/R for any adjustments, applying open credits to open charges prior to tenant invoice printing on all systems. REQUIREMENTS: Education: High school diploma or GED equivalent Preferably, a bachelor's degree in Accounting or Finance Experience: Preferably 1-2 years of recent fee-based property management accounting experience Technical Skills: Should have recent Windows-based real estate accounting software package experience preferably MRI for Windows. (Others such as Timberline, Skyline, and Yardi will also be helpful.) Must have intermediate Microsoft Word, and Excel proficiencies Personal Skills: Ability to keep information strictly confidential Strong desire to succeed in an entrepreneurial environment Must be able to handle multiple projects, changing priorities and a demanding, time-sensitive work load Exceptional oral and written communication skills Strong customer service orientation Physical Skills: Uses a computer several hours each day Uses office and audio visual equipment Communicates by telephone, fax, e-mail, video conferencing, satellite broadcasting and in-person APPLY TODAY to be a part of an energetic and motivated team of professionals Transwestern offers an exciting work environment, competitive salary and excellent benefits, which include medical, dental and vision coverage, as well as a 401(k) plan. Transwestern is an equal opportunity employer. No agency or phone calls please. Experience / Skills / Education Location Midland, TX APPLY TODAY to be a part of an energetic and motivated team of professionals Transwestern offers an exciting work environment, competitive salary and excellent benefits, which include medical, dental and vision coverage, as well as a 401(K) plan. Transwestern is an equal opportunity employer. No agencies or phone calls please.

Keywords: Transwestern, Midland , Project Accountant, Accounting, Auditing , Midland, Texas

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