Reporting to the Manager of Portfolio Accounting (in a matrixed environment with the other Portfolio Accounting Managers) you will join a team of four others who rotate duties between colocation and scale, and among all of the regions, giving you opportunities to learn and expand your skills. Under general supervision, you will have responsibility for preparing and completing revenue tasks related to the property level financial statements including variance analyses, general ledger reconciliations property/tenant statistics and presenting the data to Asset and Corporate Management to provide insights for better decision-making.
You’ll help ensure the timely close of the company’s North America portfolio revenue results on a monthly, quarterly, and annual basis, participate as part of a team in maintaining the integrity of the accounting and internal control systems by adhering to SOX controls, and apply accounting policy consistent with US GAAP to prepare, analyze, maintain and deliver complete and accurate financial reporting for a publicly traded Commercial Real Estate company. We’ll also look to you for the ongoing support of internal customer needs, specifically Asset Management, Operations, Sales, FPA, and Legal teams. Though we have processes in place, you’ll have the chance to participate in developing/refining day-to-day operating practices and a focus on continued process improvement.
Most of your time will be spent completing all necessary tasks associated with revenue-related income statement and balance sheet accounts
, with an emphasis on lease interpretation and calculating straight-line rent
. Though this is not a complete list, some of your accounting tasks will be to:
Note: this description is intended to give you a general overview of the position and is not an exhaustive listing of duties and responsibilities.
- Review rent roll information, tenant charges and receivables, ensuring proper recording of revenue against tenant leases and leases abstracts.
- Interpret commercial leases to prepare and compute the associated straight-line rent (as applicable).
- Review revenue for tenant improvements, installation fees, and lease incentives against leasing assumptions for reasonableness and recommended GAAP guidance to ensure proper revenue recognition.
- Assist in the preparation of the financial statements including supplemental reporting by participating in the month-end portfolio accounting revenue close.
- Prepare and record monthly bad debt expenses by applying the company’s bad debt policy to a portfolio of properties.
- Analyze general ledger, calculate and prepare necessary journal entries to ensure accurate financial results for the North America Portfolio.
- Prepare and review monthly account reconciliations and analyze variances.
- Update monthly workpapers supporting each balance sheet account, review monthly balance sheet and income statement activity, and prepare bank reconciliations and resolve any variances.
- Complete quarter-end, year-end, and month-end income statement flux preparation and analysis, including a thorough investigation of changes in, for instance, operating revenues or expenses.
- Support property acquisition and disposition processes through recording revenue-related opening and closing entries and follow-up.
- Fulfill various ad-hoc project requests from Accounting Managers and internal customers (Asset Management, Operations, Finance).
- Complete Held for Sale reporting and Technical Accounting research, and document policies, procedures and workflow for revenue areas of responsibility as assigned.
- Develop knowledge of new accounting pronouncements ACS 606 and ACS 842.
- Record monthly expense accruals for the North American portfolio.
- Prepare CAM reconciliations on a monthly, quarterly and annual basis.
- Record monthly depreciation and amortization schedules for fixed assets, and monthly amortization entries for prepaid expenses.
- Prepare and record recovery reimbursements.
- Calculate management fees.