Job Description:
Staff Accountant
Media, PA
(Full Time, Permanent Opportunity)
(On-Site, 5 days per week)
We are seeking a full time, permanent Staff Accountant to
join our organization.
Below is a Job Overview which breaks down the various areas
of responsibilities by Day, Week, Month, Quarter and Year.
Staff Accountant Task Outline:
Daily Tasks:
Cash Management
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Review daily bank activity and cash balances.
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Record cash receipts and tenant deposits.
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Process ACH and wire transactions.
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Monitor lockbox activity.
General Ledger
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Prepare and post journal entries.
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Review general ledger transactions for accuracy.
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Investigate unusual account activity.
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Correct coding errors as needed.
Accounts Receivable
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Review rent collections.
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Monitor delinquent tenant accounts.
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Apply tenant payments.
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Coordinate with Property Management on collection issues.
Accounts Payable Support
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Review invoice coding for accuracy.
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Assist with approval workflow questions.
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Monitor vendor payment status.
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Respond to accounting inquiries from vendors and property managers.
Property Accounting
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Review daily property financial activity.
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Record tenant billings and adjustments.
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Monitor utility and operating expense allocations.
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Track capital expenditure activity.
Account Monitoring
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Review suspense accounts.
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Investigate outstanding reconciling items.
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Monitor prepaid expenses and accruals.
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Review intercompany transactions.
Communication
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Respond to requests from:
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Property Managers
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Asset Managers
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Vendors
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Executive Management
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Provide financial information as requested.
Weekly Tasks
Bank Reconciliations
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Complete bank reconciliations.
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Review outstanding checks.
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Investigate unreconciled transactions.
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Resolve banking discrepancies.
Financial Review
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Review revenue trends.
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Analyze operating expenses.
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Compare actual expenses to budget.
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Investigate significant variances.
Accounts Receivable Review
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Review aging reports.
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Follow up on outstanding tenant balances.
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Coordinate collection efforts.
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Review bad debt reserves.
Capital Projects
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Review capital expenditure invoices.
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Update fixed asset records.
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Monitor construction-in-progress (CIP).
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Ensure proper capitalization.
Lease Accounting
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Review new lease activity.
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Record lease amendments.
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Verify rent schedules.
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Update lease accounting records.
Internal Controls
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Review journal entries prepared by others.
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Verify supporting documentation.
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Ensure compliance with accounting policies.
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Identify process improvement opportunities.
Month-End Closing Tasks
Close Preparation
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Review month-end close checklist.
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Ensure all invoices have been recorded.
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Verify all rent has been billed.
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Confirm cash transactions are complete.
Journal Entries
Prepare and post:
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Accruals
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Prepaid expense amortization
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Depreciation
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Fixed asset additions
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Interest expense
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Intercompany entries
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Payroll allocations
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Recurring journal entries
Reconciliations
Reconcile:
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Bank accounts
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Accounts receivable
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Security deposits
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Escrow accounts
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Fixed assets
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Prepaid expenses
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Accrued liabilities
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Deferred revenue
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Intercompany accounts
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All balance sheet accounts
Financial Statement Preparation
Prepare:
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Income Statement
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Balance Sheet
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Cash Flow Statement
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Trial Balance
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Property operating statements
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Owner reports
Financial Analysis
Analyze:
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Budget vs. Actual
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Prior Month vs. Current Month
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Prior Year comparisons
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Occupancy trends
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Rental revenue
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Operating expenses
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Net Operating Income (NOI)
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Cash flow
Prepare explanations for material variances.
Fixed Assets
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Capitalize qualifying expenditures.
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Record depreciation.
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Dispose of retired assets.
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Reconcile fixed asset schedules.
Property Reporting
Prepare reports for:
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Property Managers
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Asset Managers
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Ownership
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Investors
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Lenders (if applicable)
Reports may include:
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Occupancy summaries
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Capital expenditure reports
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Cash flow reports
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Operating variance reports
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Budget performance reports
Compliance
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Review loan covenant requirements.
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Verify escrow balances.
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Monitor reserve accounts.
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Review insurance payments.
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Ensure GAAP compliance.
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Verify lease accounting compliance.
Close Review
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Review financial statements for accuracy.
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Investigate unusual balances.
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Obtain management approval.
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Finalize month-end reporting package.
Quarterly Tasks
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Assist with quarterly financial reporting.
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Prepare lender compliance reports.
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Review property tax accruals.
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Update forecasts.
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Reconcile CAM (Common Area Maintenance) recoveries.
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Review tenant reconciliations.
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Perform internal control reviews.
Annual Tasks
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Assist with annual audit preparation.
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Prepare audit schedules.
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Support external auditors.
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Assist with annual operating budgets.
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Prepare year-end journal entries.
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Coordinate 1099 reporting.
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Assist with tax reporting requests.
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Complete fixed asset inventory review.
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Reconcile year-end balance sheet accounts.
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Support annual property insurance renewals.
Core Responsibilities Throughout the Year
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Maintain accurate property-level financial records.
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Ensure compliance with GAAP and company policies.
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Support timely and accurate financial reporting.
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Partner with Property Managers and Asset Managers.
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Improve accounting processes and internal controls.
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Maintain complete documentation for audits and regulatory compliance.
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Deliver financial insights that support operational and
investment decisions.
