Duties and Responsibilities
Reporting to the Principal and Development and Management Associate, the Development and Property Accountant will have significant responsibilities across the company and its portfolio. The Accountant position is a full-time, 40 hours per week position. It is a position for someone who has real estate and accounting experience. The position is eligible for an annual performance bonus, paid time off, sick time, medical, and retirement benefits.
Specific responsibilities related to the day-to-day operations include:
- Closely monitor monthly operating statements and provide supporting documentation to the Principal for all negative variances and for any substantial positive variances that could ultimately have a financial impact on the property;
- Under the direction of the Principal, prepare the annual operating and capital budgets, accurately, completely and in a timely manner;
- Research and analyze variations between current financial results compared to budgeted, prior month, and prior year amounts. Explain significant variances in the financial statement narrative;
- Drive month-end-close activities;
- Analyze accounts receivable and accounts payable and respond in a timely manner;
- Assist in the preparation of audits, financial statements, tax returns and varied fiscal reports;
- Review accounting documents to ensure accuracy of information and compliance;
- Lead the accounts payable process by matching and entering into Yardi vendor invoices;
- Prepare bank account reconciliations on a monthly basis;
- Prepare G/L entries;
- Review G/L for appropriate classification of expenses;
- Prepare rent rolls;
- Perform all duties relating to cash receipts, invoice processing and record management accurately and in a manner consistent with Capstone’s policy and standards of business practice;
- Process disbursements;
- Prepare month-end and year-end statements, including trial balances, balance sheets, income statements, and general ledgers. Provide year-end statements to lenders, equity providers, and Capstone’s accountants;
- Reconcile credit card statements and follow up on any expense questions;
- Maintain chart of accounts;
- Maintain accounting records and files;
- Issue year-end 1099’s to vendors;
- Prepare cash flow projections to assist in cash management;
- Assist with special projects as requested;
- Prepare monthly management fee calculations for applicable properties;
- Complete development bank and investor requisitions for funding;
- Setup new bank accounts in Yardi accounting software;
- Maintain vendor insurance certificates and request new or updated insurance certificates upon expiration;
- Post monthly tenant rent charges and ensure all rent is collected via the online payment system or by depositing checks through the Yardi Check Scan system, which includes daily trips to the P.O. Box during the first and last week of every month to collect checks;
- Process security deposits in accordance with applicable laws;
- Perform other duties as required and determined by Associate and Principal.
- Prepare follow-up lists for weekly meetings with Principal;
- Respond to phone calls and emails in a timely manner;
- Own responsibility for all accounting administrative tasks, including filing hard copies and electronic files and maintaining invoices and bank statements.
- Associates or Bachelor’s Degree in accounting, finance, or other related field and minimum 2- 3 years relevant experience required;
- Proficient or expert with Yardi;
- Fluency in Microsoft Office software, including intermediate or advanced skills in Excel;
- Accounting and financial knowledge;
- Dynamic individual with strong interpersonal, problem-solving, and written and oral communication skills;
- Ability to operate in an entrepreneurial, demanding environment;
- High level of independence and motivation required;
- Must be able to multi task to meet required deadlines; and
- Motivated by the mission of affordable housing and revitalization of the Boston metro area.
Interested in Applying?
If you are interested in applying for this role, please submit your resume and cover letter to Jason Korb, Principal at Capstone Communities LLC, #removed#
Capstone Communities LLC and its affiliates do not discriminate on the basis of race, color, national origin, creed, sex, ethnicity, sexual orientation, gender identity, disability, age, ancestry, athletic performance, special need, proficiency in the English language or a foreign language or prior academic achievement.
Capstone Communities LLC is a full-service real estate development and property management company. Since its founding in 2010, Capstone has developed and has in development 18 projects totaling over $55,000,000 in development costs. Capstone’s projects include single family for-sale homes, two to six-unit high-end market rate apartments, office/retail space, and 20-60 unit affordable/mixed income housing developments. Capstone’s affordable housing developments include financing by numerous local, state and federal subsidizing agencies. In addition to new construction and gut rehabilitations, Capstone also specializes in historic rehabilitations that utilize federal and state historic tax credits.
Role: Development and Property Accountant
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