Capital Projects Accountant

ABOUT GREYSTAR

Greystar is a leading, fully integrated global real estate company offering expertise in property management, investment management, development, and construction services in institutional-quality rental housing, logistics, and life sciences sectors. Headquartered in Charleston, South Carolina, Greystar manages and operates more than $320 billion of real estate in 250 markets globally with offices throughout North America, Europe, South America, and the Asia-Pacific region. Greystar is the largest operator of apartments in the United States, manages more than 977,000 units/beds globally, and has a robust institutional investment management platform comprised of more than $78 billion of assets under management, including over $36 billion of development assets. Greystar was founded by Bob Faith in 1993 to become a provider of world-class service in the rental residential real estate business. To learn more, visit www.greystar.com.

JOB DESCRIPTION SUMMARY

The capital projects accountant will be responsible for cash management, capital transactions, financial reporting, audit support, project creation and closeout, and other general functions.

JOB DESCRIPTION

• 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

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Additional Compensation:

• Corporate Positions: In addition to the base salary, this role may be eligible to participate in an annual bonus program based on individual and com