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Capital Projects Accountant

GREYSTAR

GREYSTAR

Accounting & Finance
Charleston, SC, USA
Posted on Tuesday, January 30, 2024
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, 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.

Knowledge, Skills, Abilities:

  • Bachelor’s degree in accounting or in a related field (Finance, General Business, etc).
  • 0 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.

#LI-BB1

Compensation is based on geographic location and individual pay decisions will vary based on demonstrated job related skills, knowledge, experience, education, certifications, etc.

Corporate Positions: In addition to the base salary, may be eligible for an annual performance bonus that is based on individual and company performance.

Onsite Property Positions: In addition to the base salary, may be eligible for a discretionary weekly, monthly and/or quarterly bonus based on budget.

Greystar seeks to attract, recruit, advance and retain top talent. Greystar’s compensation strategy is tailored to appropriately reward the skillset and experience that a team member will bring to the organization.

Robust Benefits Offered for Full-time Team Members:

  • Medical, Dental, Vision, Life

  • 401(k) with Company Match (eligibility required)

  • Short-term & Long-term Disability

  • Critical Illness/Accident/Hospital Indemnity Plans

  • Employee Assistance Program

  • Generous Paid Time Off: Time off benefits include vacation, holidays, personal days, and sick time and parental leave

For Union and Prevailing Wage roles compensation and benefits may vary from the listed information above due to Collective Bargaining Agreements and/or local governing authority.

Greystar will consider for employment qualified applicants with arrest and conviction records.