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Property Accountant - New York City, NY

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New York City, NY US

We have an opening for an experienced, innovative, strategic Property Accountant in our New York City office.  Does this sound like you?


As Property Accountant, you are primarily responsible for maintaining the overall integrity of financial records for a portfolio of real estate properties.  On-going responsibilities include book keeping, internal support with accounting related issues, and month-end procedures.  The role handles real estate portfolio of approximately 62 properties across 38 countries, totaling $2m+ in annual receivables from tenants/subtenants.

Your contribution to the team includes:

Accounting/Monthly Reporting
  • Under minimal supervision, applies, cash, accrual and full GAAP accounting principles to prepare, analyze, maintain and deliver complete and accurate financial reports including site level forecasting and detailed variance analysis of operating expenses.   Assists in the preparation of monthly forecast updates and variance analysis.
  • Prepare month-end closing adjusting entries, calculating and booking deferred average rent and sublease income, amortizations of brokerage commissions, and prepaid expense.
  • Prepare monthly journal entries to allocate internal rent to business units
  • Maintain assigned balance sheets and perform monthly balance sheet reconciliations for accounts receivable, funding, deferred average rent, prepaid expense, security deposits, accruals and dilapidations.
  • Administer monthly copy and postage charge-back process.
  • Prepare recurring and ad hoc journal entries on a monthly basis, identifying key variances and recommending adjustments to management.
Accounts Payable Duties
  • Ensure receipt of proper back up for vendor payments (W9, invoice back up, etc.)
  • Research and assess all vendor payments to ensure that they properly coded and have the appropriate authorized approver signature prior to payment.
  • Preparation and maintenance of rent rolls and recurring rent payments for leased locations domestically.
  • Prepare check disbursement requests (CDRs) for real estate tax payments, funding requests, brokerage commission, and equipment rental.
Accounts Receivable Duties
  • Manage accounts receivable activities including billing of tenant and subtenant receivables, landlord contributions, and deferred average income.  Ensure receivables are collected and ensure proper recording of income.
  • Issues invoices to tenants and subtenants for rent, escalations and other reimbursable expenses ensuring proper billing in accordance with lease documents.
  • Issue invoices for reimbursement of tenant improvement allowances.
  • Works with offshore team to ensure proper application of payments.
  • Provide financial support for the development of annual operating budgets including cash flow, medium & long-range plans, and other financial forecasts.

What you’ll need to be successful:
  • Bachelor’s degree in Accounting
  • At least 5 years of experience in real estate accounting.  Working knowledge of GAAP and its proper application within the real estate industry
  • Experience with common technical accounting skills and concepts including, but not limited to: journal entries, balance sheet reconciliations, EBITDA, general ledger analysis, accrual basis, cash basis, and capital expenditures.
  • Strong working knowledge of Excel & Access
  • Excellent written and verbal communication skills.
  • Knowledge of Oracle, Blackline and Cognos TM1 preferred
  • Proficiency with macros and VBA for Excel a plus
  • Ability to read, analyze, articulate and compile financial reports used for business correspondence.
  • Ability to solve problems and building strong working relationships with peers
  • Must be able to work with multiple corporate entities with accuracy. Global accounting experience a plus.
  • Excellent written and verbal communication skills.

Why work for McGraw-Hill Education? You’ll have the opportunity to unlock your potential, both professional and personally. Click here to learn more!

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