Property Accountant

JLL•Toronto, ON

4d•$66,000 - $78,000•Hybrid

About The Position

JLL is seeking an enthusiastic Property Accountant to join their team and grow their skills in financial reporting. In this role, you will prepare monthly, quarterly, and annual financial statements for properties, following established accounting standards. You will develop analytical skills by examining financial variances and writing clear explanations. As part of a collaborative environment, you will contribute to various projects and help improve accounting processes. This position is ideal for someone who wants hands-on experience in property accounting while working in a flexible setup, with 2-3 days per week in the downtown Toronto office and the option to work remotely on other days.

Requirements

2+ years of property accounting experience
University Degree or College Diploma in an accounting related field of study
Proficiency in Microsoft Excel and enterprise level real estate systems is required
Working knowledge of month-end and accounting cycle for the preparation of full set of financial statements for properties.
Preparation/review of financial statements, cash management, budgets, audit working papers and Tenant operating cost adjustments.
Excellent communication including strong written and verbal communication skills.
Highly organized with an exceptional attention to detail.
Effective time management skills, works well under pressure to meet tight deadlines; ability to handle multiple demands and competing priorities; ability to prioritize workload; ability to work and analyze at a high level; willingness to learn in a dynamic environment that includes new ideas and change.
The ability to perform with exceptional integrity, always striving to do the right thing and help to create an environment built on trust, honesty and respect.
Keen interest and dedication to life-long learning and self-improvement.
Dedication to service excellence for customers, clients, and team members with an eagerness to share ideas and look for opportunities to improve.

Nice To Haves

experience with Yardi is preferred.
Commercial property accounting experience is preferred.
Active enrollment in a recognized accounting program (CPA)

Responsibilities

Preparation of month-end, quarter-end, and year-end property accounting including financial statements according to accounting standards and conducts comprehensive business-focused variance analysis and commentaries regarding variances.
Maintain and update monthly and annual general ledger account reconciliation working papers and follow-up to ensure items are cleared according to guidelines, procedures, policies, and deadlines.
Responsible for property accounting journal entries including operating expense accruals, revenue accruals, amortization, depreciation, and other entries as required.
Review, code, and ensure processing of accounting related accounts payable such as audit fees, property taxes, and tax remittances (GST/HST/QST/State Tax/etc.).
Prepare annual municipal property tax and other regulatory related financial and operational reporting requirements for review.
Calculate and prepare tenant chargebacks as required such as direct use utilities to tenants.
Setup and maintain straight line rent and responsible for straight line rent variance analysis.
Contributes to the preparation of property budgets and forecasts including calculating key accounting budget items and reviewing to ensure property accounting budgets are reasonable such as: reviewing and validating leasing revenue, CAM & TAX recoveries by tenant, straight-line rent, and fixed assets.
Create and maintain tenant CAM & TAX recovery models in accordance with tenant lease terms and prepares tenant year end CAM and Tax billings/invoicing in accordance with tenant lease terms.
Key reviewer and contributor to the lease administration workflow including reviewing lease term inputs for accuracy and helping to determine recoveries and straight-line rent setups.
Create and monitor cash flow projections, prepare cash call and distribution instructions.
Support Property Managers and Property Administrators for any financial accounting questions or information as required.
Reconcile and maintain a full understanding of all balance sheet and income statement accounts and prepare a detailed variance analysis of revenue and expenses.
Assist with auditor requirements.
Participate in special projects and process improvements.
Ensure accounting processes are executed efficiently and effectively across the portfolio, and technology and system generated reports are fully utilized.