Client Accountant

Transwestern • Minneapolis, MN

1d

About The Position

The Client Accountant performs daily property accounting duties for one or more assigned properties. The role prepares financial reports, enters accrual and cash journal entries, reviews operating statements and variance reports, prepares escalation and payable reviews, performs reconciliations, and ensures accuracy and compliance with Management/Leasing Agreements and SOC1 controls. The accountant uses assigned real estate accounting software, such as MRI or Yardi, and works with property management to meet reporting deadlines and follow owner policies and procedures. This position does not manage or supervise. The Client Accountant is also expected to deliver the Transwestern Experience when communicating with tenants, owners, vendors, and colleagues.

Responsibilities include reviewing tenant billings, cash receipts, accounts payable, rent rolls, delinquency reports, supporting schedules, general ledger activity, financial statements, and monthly reporting packages. The role also involves monitoring property cash balances; supporting escalation reconciliations and audits; preparing owner distributions and rent-up reports; ensuring timely mortgage and property-tax payments; calculating management fees and sales tax; maintaining reporting records; and closing accounting modules as appropriate.

Requirements

• A minimum of 2–3 years of recent fee-based property management accounting experience.
• Working knowledge of financial terms and principles, current accounting methods including cash and basic accruals, and the ability to apply GAAP.
• Working knowledge of Owner budget-reporting requirements and ability to participate in or assist with annual budget preparation alongside property management.
• Working knowledge of escalation and operating expense budgeting and settlement processes, including gross-up calculations, and ability to participate in or assist with actual settlement schedules.
• Applicable experience with real estate accounting software.
• Proficiency with Microsoft Word, Excel, and Adobe.
• Strong analytical capabilities and attention to detail.
• Ability to handle multiple projects, changing priorities, and demanding, time-sensitive workloads.
• Ability to work under general supervision, self-manage, and work independently.
• Ability to provide efficient, timely, reliable, and courteous service to internal and external customers.
• Ability to keep information and internal communications confidential.
• Excellent verbal and written communication skills.
• Ability to remain stationary 50% or more of the time and constantly operate a computer and other office productivity machinery, or receive reasonable accommodations to perform the essential functions of the position.

Nice To Haves

• Bachelor's degree with an emphasis in accounting, finance, or a related field preferred.
• Experience with MRI and/or Yardi real estate accounting software preferred.

Responsibilities

• Review tenant billings and adjustments based on information from the Property Manager, and submit Commercial Management batches for review and posting.
• Review and post cash receipt batches entered by the Client Accounting Associate and maintain property cash balances.
• Review and approve large accounts payable disbursements and submit the weekly Open A/P report for check-run processing.
• Review and/or prepare monthly bank reconciliations for assigned accounts.
• Review or post monthly rent rolls and check changes from the prior month for reasonableness.
• Review aged delinquency reports, identify needed adjustments or credits, and ensure cash receipts are applied correctly to tenant accounts.
• Review and revise supporting schedules with monthly charges as required by the Owner, ensuring subledgers and schedules tie to the general ledger.
• Review general ledger and income statement activity, confirm adjusting entries with the Property Manager, and book entries.
• Review financial statements and monthly reports, confirm supporting schedules tie to financial reports, and submit the monthly financial package to the accounting manager.
• Monitor property bank account cash balances.
• Assist with reviewing prior-year CAM and real estate tax escalation reconciliations and answer auditor questions as needed.
• Calculate owner distributions according to owner requirements and schedules, and initiate monthly distributions in accordance with the Property Management Agreement.
• Prepare monthly rent-up reports for Property Manager review, post approved rent-ups, and make directed tenant-ledger corrections or adjustments.
• Ensure timely payment of mortgages and property taxes.
• Calculate monthly management and/or incentive management fees due to Transwestern and prepare supporting documentation.
• Maintain scanned copies of monthly financial reporting packages, bank statements, and reconciliations, and load required documents into OneSpace.
• Communicate with clients, internal and external auditors, tax preparers, and team members.
• Calculate and file sales tax.
• Close accounts payable, commercial management, and general ledger modules each month as appropriate.
• Perform additional client accounting duties as assigned.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level