Senior Accountant

Job DetailsLevel: ExperiencedJob Location: Capital Square Realty Advisors LLC - Glen Allen, VA 23060Position Type: Full TimeEducation Level: 4 Year DegreeSalary Range: $80,000.00 - $100,000.00 SalaryJob Category: AccountingCompany Overview
Headquartered in Richmond, Virginia, Capital Square is a national sponsor of tax-advantaged real estate investment offerings employing leading-edge technologies and processes to better serve more than 6,000 investors. Employees do so through Delaware statutory trusts (DSTs), opportunity zone funds, a private REIT and other forms of tax-advantaged investments. The firm oversees a national portfolio exceeding 16 million square feet representing over $4.5 billion in value.

Capital Square is one of the top three securitized 1031 exchange sponsors in the U.S. In 2020, Capital Square was not only ranked as one of the fastest growing companies in the Richmond, Virginia area but also made the list for Best Places to Work by Virginia Business Magazine.

Summary
Capital Square is looking for a highly motivated individual to join its team as it expands into residential property management.  Reporting to the Accounting Manager for Capital Square Living, the Senior Accountant will be responsible for the daily accounting and month end reporting for a portfolio of residential properties within its Real Estate Investment Trust (REIT). This role will work closely with the asset management, property management and finance teams.  In addition, will collaborate with the Controller on overall REIT related tasks.

Property Accounting Responsibilities 

Post mortgage payment and verify escrow balances
Review lender website for tax and insurance escrow disbursements
Record prepaid insurance amortization, real estate and property tax accruals, and tax/insurance self-escrow entries
Post depreciation and amortization entries
Record monthly capital reserve accrual
Perform review of GPR report for errors and follow up with Yardi consultant for correction
Reconcile property bank accounts
Reconcile Accounts Receivable and Prepaid Yardi balances to Balance Sheet
Reconcile Security Deposit Activity Report to Balance Sheet and record true-up of SD Liability to Self-Escrow
Accrue unpaid fees (asset management, capital reserve, and DST admin)
Review GL for utility and other accruals
Create draft financial packages according to monthly deadlines and share with regional, property, and leadership teams
Address reclasses and accruals requested by field management
Review Balance Sheet on cash basis
Create and distribute finalized monthly property level financial packages with regional, property, property, and leadership teams

REIT Related Responsibilities

Conduct a detailed review of REIT financials, including property management operations and corporate-level financial consolidation
Prepare, review and post journal entries for assigned properties, including depreciation, amortization, and other ad-hoc entries as requested from the Accounting Manager or Controller
Complete treasury functions related to ACH, checks and wires including but not limited to preparing wires in banking system and communicating with AP on ACH and check payments
Review daily cash for REIT corporate entities
Complete bank reconciliations for all REIT related entities
Participate in the month-end close and adhere to close deadlines
Assist with external audit requests

Remaining Responsibilities

Collaborate with other departments to ensure proper reporting of financial information
Meet periodically with staff accountants and asset management teams to discuss property performance and financials
Analyze financial data for variances and provide relevant information to the operations team
Assist the Accounting Manager with more complex issues and tasks as needed
Work with Accounting Manager in setting and refining policies and procedures, continually focusing on accuracy and efficiency
Assist with financial related questions from Accounting, property teams, and senior management
Participate in system testing, implementation, and data validation during the conversion of property financial records from external parties
Ensure accurate and timely filing and payment of real estate taxes, sales and use tax, business licenses and personal property taxes as needed
Perform ad hoc analysis and projects as requested by Accounting Manager or Controller

Knowledge and Skills Requirements 

Bachelor’s degree in Accounting is required
CPA or master’s degree a plus
Minimum of 4-6+ years of accounting and financial reporting required
Knowledge of real estate terms, definitions, and accounting is a must
Knowledge of US GAAP, internal controls, and financial reporting required
Demonstrates full understanding of general ledger and sub-ledger
Technology proficient, including Microsoft Word and Excel 
Experience in property management strongly preferred
Experience with Yardi preferred

Work Hours
Monday through Fr