Job DescriptionThe capital projects accountant will be responsible for cash management, capital transactions, financial reporting, audit support, project creation and closeout, and other general functions. Cash Management: Oversee and manage the day to day cash transactions of each project that is assigned. This includes but is not limited to daily oversight of bank accounts, understanding the online banking platforms, entering transactions into Yardi and on the Cash Spreadsheet on a timely basis; managing the intercompany bill-backs and accounts payable process, setting up and inputting wire/ACH transactions, and completing monthly bank reconciliations.
Capital Transactions: Requests capital funds and reconciles equity/lender funding with capital expenditures in the draw.
Financial Reporting: Ensures that all fixed asset entries, including depreciation, as well as all fee revenue entries, are posted in the appropriate month and meet the deadline given by the other investment accounting groups. Ensures that each property s renovation costs for the month are posted in the correct post month and are coded according to the approved budget.
Audit Support: On an annual basis, or in accordance with the legal agreements, supplies information and reporting as requested. Ensures accuracy of requested reports and upload them to the auditor s designated site.
Yardi: Knows how to enter journal entries and post fees, run reports for analytics as well as reporting, and use the Job Cost module for project budgeting and costing. Extracts the job cost data from Yardi and preparing the draw presentation for the appropriate approvers. Once the draw is approved, selects payables in Yardi for submission to A/P.
Project Creation and Closeout: Sets up new renovation projects as they are assigned. Tasks range from selecting and assigning a job number, reconciling versions of the capital budget from multiple sources, setting up the first draw and requesting a new bank account. Is familiar with the Construction Management Agreement for the involved entity and should see to it that fees are set to calculate correctly. Prepares monthly draw and all related deliverables. Upon completion of the renovation project and/or disposition of the asset, follows the Closing a Project Checklist in order to fully close out the project.
General Functions: The legal agreements (generally Construction Management Agreement) of each project dictate the reporting requirements, and are unique for each portfolio. The responsibility of the senior(s) and manager(s) is to understand the underlying agreements of each venture. The staff should work to become familiar with the specific sections that reference the budget, construction management fees and general conditions stipulations, immediate repairs and/or lender funding involvement, as well as any reporting requirements. The staff should also work to build relationships with other stakeholders, both internally and externally, to understand how the Renovation accounting functions affect all parties. EducationBachelor s degree in accounting or in a related field (Finance, General Business, etc).Qualifications0 to 2 years of directly related experience.
Demonstrated proficiency in word processing, spreadsheet, property management (Yardi), and database management programs in order to complete required reports.
Demonstrated ability to complete financial records and other fiscal and accounting reporting information.About usGreystar is the global leader in multifamily real estate, offering expertise in property management, investment management, and development and construction of rental housing. Established in 1993, Greystar is the largest property management operator in the world. Its dedicated team members and a commitment to hiring the very best multifamily professionals has resulted in record growth, making Greystar one of the most respected and trusted real estate companies. EOE.
Internal Number: 38131BR
National Platform with Local ExpertiseGreystar, founded in 1993, provides world-class service in the multifamily real estate business. Our innovative business model integrates the management, development and investment disciplines of the multifamily industry on both national and local levels. This unique approach and our commitment to hiring the very best multifamily professionals have resulted in record growth, making us one of the most respected and trusted multifamily real estate companies in the country.Because our business model includes both investment and service-oriented businesses, we’re able to maintain a constant presence in local markets and create value in all phases of the real estate cycle. Our national platform provides economies of scale, financial sophistication, institutional quality reporting and tremendous capital relationships, while our city offices provide local market expertise and execution.Our dedication to redefining excellence in apartment living means we’re constantly exploring innovative ideas and pioneering new ways to serve our residents and clients. The Greystar team is more than 5,300 team members strong and growing. Check out the latest opportunities.