About the role
PURPOSE
The Property Accountant is accountable to the Manager, Accounting or Supervisor, Accounting for the timely and accurate completion of all accounting activities for an assigned portfolio of real estate investments and for ensuring financial reporting is timely, accurate and is completed in compliance with company’s accounting policies and procedures.
DUTIES AND RESPONSIBILITIES
1. General Accounting
Completes the day-to-day transactions (i.e. recording transactions to journals, posting to ledgers, calculating trial balances, posting accruals, completing bad debt provisions etc.) that are a part of a full accounting cycle for a portfolio of real estate investments in order to maintain an accurate and transparent accounting process.
2. Property Accounting Reporting
Produces a variety of financial reports/statements including but not limited to monthly/quarterly financial statement packages annual budget etc. to ensure the adherence to statutory accounting principles that require the accurate reporting of the financial status of the organization.
3. Bank Reconciliation
Completes bank reconciliation and addresses any outstanding discrepancies between the bank and company statements in a proactive manner to ensure accuracy of statements.
4. Support to Accounts Receivable and Collections
Assists the Account Receivable departments and Property Management personnel in reconciling tenants’ accounts as well as follow up on any outstanding accounts to ensure timely receipt of payment.
5. Budgeting for Recoveries
Completes the accounting portion of the budget, as determined, as well as provides assistance, where required, in re-forecasting, variances analysis and reporting and budgeting activities, troubleshoots revenue modeling to support the accurate re-forecast and budgeting processes.
6. Year-End Adjustments
Ensures year-end adjustments/billing for common area/operating costs and realty taxes are processed on time and accurately; ensures revised rental notices are sent to tenants for the coming year on time to ensure maximum collection and accurate budgeting.
7. Support to Annual Audit Process
Assists with year-end audit processes through the preparation of the head office/site accounting packages and the creation of the year-end file to ensure timely and accurate completion of all processes.
Any other job related duties and/or projects that may be assigned.
MINIMUM REQUIREMENTS
Skills, Knowledge, Experience and Education
- College Diploma or Bachelor’s Degree in Accounting or Business Administration or equivalent
- Minimum of 2 years of relevant accounting experience
- Intermediate to advanced working knowledge of MS Office applications
Core Competencies
-
Excellent communication skills (both written and verbal)
-
Strong analytical skills
-
Good quantitative analysis skills
-
Good organizational skills
-
Attention to detail
ADDITIONAL REQUIREMENTS
- Previous experience in real estate industry is an asset
About Morguard
Morguard is a fully integrated real estate company. We own, manage, and invest in high quality, well-located, geographically diversified assets across North America. With more than 45 years of experience and a dynamic team of over 1200 professionals, we focus on value creation and operational excellence. Today, our total assets owned and under management is valued at $18.6 billion.
Morguard operates three diversified lines of business:
Investments in Real Property: Morguard owns and manages a diversified portfolio of multi-unit residential, retail, office and industrial, and hotel properties in North America.
Real Estate Investment Trusts: Morguard is a significant sponsor of two real estate investment trusts (REITs): Morguard REIT (TSX: MRT.UN), a closed-end Trust with a diversified portfolio of Canadian commercial real estate assets; and Morguard North American Residential REIT (TSX: MRG.UN), an open-end Trust with a diversified portfolio of multi-unit residential assets across North America.
Advisory and Management Services: Morguard provides real estate advisory services and portfolio management services, specializing in publicly traded equities and fixed-income securities, to institutional clients and private investors.
About the role
PURPOSE
The Property Accountant is accountable to the Manager, Accounting or Supervisor, Accounting for the timely and accurate completion of all accounting activities for an assigned portfolio of real estate investments and for ensuring financial reporting is timely, accurate and is completed in compliance with company’s accounting policies and procedures.
DUTIES AND RESPONSIBILITIES
1. General Accounting
Completes the day-to-day transactions (i.e. recording transactions to journals, posting to ledgers, calculating trial balances, posting accruals, completing bad debt provisions etc.) that are a part of a full accounting cycle for a portfolio of real estate investments in order to maintain an accurate and transparent accounting process.
2. Property Accounting Reporting
Produces a variety of financial reports/statements including but not limited to monthly/quarterly financial statement packages annual budget etc. to ensure the adherence to statutory accounting principles that require the accurate reporting of the financial status of the organization.
3. Bank Reconciliation
Completes bank reconciliation and addresses any outstanding discrepancies between the bank and company statements in a proactive manner to ensure accuracy of statements.
4. Support to Accounts Receivable and Collections
Assists the Account Receivable departments and Property Management personnel in reconciling tenants’ accounts as well as follow up on any outstanding accounts to ensure timely receipt of payment.
5. Budgeting for Recoveries
Completes the accounting portion of the budget, as determined, as well as provides assistance, where required, in re-forecasting, variances analysis and reporting and budgeting activities, troubleshoots revenue modeling to support the accurate re-forecast and budgeting processes.
6. Year-End Adjustments
Ensures year-end adjustments/billing for common area/operating costs and realty taxes are processed on time and accurately; ensures revised rental notices are sent to tenants for the coming year on time to ensure maximum collection and accurate budgeting.
7. Support to Annual Audit Process
Assists with year-end audit processes through the preparation of the head office/site accounting packages and the creation of the year-end file to ensure timely and accurate completion of all processes.
Any other job related duties and/or projects that may be assigned.
MINIMUM REQUIREMENTS
Skills, Knowledge, Experience and Education
- College Diploma or Bachelor’s Degree in Accounting or Business Administration or equivalent
- Minimum of 2 years of relevant accounting experience
- Intermediate to advanced working knowledge of MS Office applications
Core Competencies
-
Excellent communication skills (both written and verbal)
-
Strong analytical skills
-
Good quantitative analysis skills
-
Good organizational skills
-
Attention to detail
ADDITIONAL REQUIREMENTS
- Previous experience in real estate industry is an asset
About Morguard
Morguard is a fully integrated real estate company. We own, manage, and invest in high quality, well-located, geographically diversified assets across North America. With more than 45 years of experience and a dynamic team of over 1200 professionals, we focus on value creation and operational excellence. Today, our total assets owned and under management is valued at $18.6 billion.
Morguard operates three diversified lines of business:
Investments in Real Property: Morguard owns and manages a diversified portfolio of multi-unit residential, retail, office and industrial, and hotel properties in North America.
Real Estate Investment Trusts: Morguard is a significant sponsor of two real estate investment trusts (REITs): Morguard REIT (TSX: MRT.UN), a closed-end Trust with a diversified portfolio of Canadian commercial real estate assets; and Morguard North American Residential REIT (TSX: MRG.UN), an open-end Trust with a diversified portfolio of multi-unit residential assets across North America.
Advisory and Management Services: Morguard provides real estate advisory services and portfolio management services, specializing in publicly traded equities and fixed-income securities, to institutional clients and private investors.