Latitude, Inc. Controller (Timberline Software) in Bethesda, Maryland
Candidate should have an accounting degree, strong Excel skills, working knowledge of QuickBooks and Timberline software, and ideally have a minimum of five years? real estate accounting experience.
Supervision - Provide day-to-day supervision of staff accountant including reviewing and approving all work and providing guidance. In addition, Controller will regularly interact with building owners, lenders and Property Managers.
Accounts Payable ? Review all invoices that were coded and entered into Timberline system by staff accountant. Ensure that invoices are processed weekly. Approve pending check run and review checks and paid invoices. Ensure that all mortgage, real estate taxes, insurance and utility bills are paid by due date. Ensure that allocated charges to properties are performed and are accurate. Ensure that all investor distributions are paid timely. Some investors are paid via ACH. Set up new ACH when requested.
Property Management and Lease Administration ? Review new leases and lease amendments. Input Tenant and Lease information into the Timberline system including lease dates, square footage, rental charges & increases, miscellaneous charges, security deposits and options. Generate billing charges each month and prepare tenant invoices. Record tenant payments in Timberline and prepare accounts receivable reports and delinquent notices. Calculate late fees and interest due, when necessary.
Accounts Receivable ? Ensure that monthly courtesy tenant billing statements are prepared and issued. Review rents collect each day and ensure that they are scanned to appropriate bank timely. Record all deposits. Contact tenants that are delinquent, issue delinquent notices, inform Property Managers of all delinquencies so that a collection strategy can be determined.
Bank Accounts ? Each property maintains at least one (1) checking account. Some properties also have investment or money market accounts. Reconciled each account monthly. When new accounts need to be opened, coordinate signature cards. Manage and invest funds to ensure that interest is paid at the highest level.
General Ledger ? The general ledger is maintained on the accrual basis and each property is a separate entity. Entries are created from the Timberline Property Management system and Accounts Payable system in addition to recurring entries and journal entries that must be posted. The general ledger must be reviewed each month and accounts reconciled to accounts receivable, accounts payable, bank reconciliations, mortgages, reserves, and security deposits etc. for each property. Make appropriate accrual journal entries for invoices not received.
Financial Statements ? financial statements are prepared and reviewed for each property each month.
Monthly Owners?/Managers? meeting ? Compile information for monthly properties meeting including financial statements, general ledger, accounts receivables reports and rent rolls. Attend meeting and review the monthly financial statements and operations related issues.
Tenant Operating Expense Reconciliations - Prepare and issue annual tenant operating expense reconciliations so that they will be a part of March tenant billing statement. In conjunction with the Property Manager(s), address any disputes raised by tenants. Work with the Property Managers to explain variances and assist in preparation of letters to tenants explaining variances.
Budgets - Assist Property Managers with annual budget. Prepare portions of annual budget for all properties. Prepare annual budget based on projected management fees and anticipated expenses. Input property budgets into Timberline software.
Tax Preparation ? Each entity files a separate tax return. Ensure that year-end financial statements and supporting reports are sent to the tax accountants timely so that K-1s can be issued by early March. Prepare documentation and issue 1099s to all vendors and for investor interest payments. Issue W-9 tax forms to tenants when requested.
Real Estate Tax Preparation/Reports and Appeals - Prepare annual income and expense forms that need to be filed with various jurisdictions. Coordinate information with tax appeal consultant.
Payroll - Payroll includes, prepare and review payroll before sending to outsourced Payroll company for processing.
Our client offers competitive salaries and a robust benefits program including, 401(k), medical, dental and vision insurance plans, and education assistance. We are an Equal Opportunity Employer.
Job Type: Full-time
Accounting: 5 years