Industry: Projects
Total Positions: 1
Job Type: Full Time/Permanent
Gender: No Preference
Salary: 800USD - 1200USD (Monthly)
Education: Bachelor of Commerce
Experience: 5-10 Years
Location: Muscat, Oman
Skills: Accounting, Book keeping, Budget Management, Tax Compliance, Financial Reporting
Posted Date: 01-09-2024
Description:
Job Summary:
• Handle full cycle accounting within the real estate portfolio including income producing properties with limited supervision
• Provide accurate and timely financial information as required internally by management and externally by clients
• Have full involvement, responsibility and accountability for their portfolio, which includes monthly, quarterly, annual and other duties as and when required
• Complete all job functions relating to assigned properties accurately, efficiently and by all the assigned deadlines
• Utilize and develop skills such as problem solving, decision making, time management and effective communication to achieve the desired results
• Total compliance with the Firms policies and procedures and as set by the RICS for members
RESPONSIBILITIES
Daily
• Banking – Deposit and payments
• Cash management – Rental receipt and petty cash
• Updating all transactions in the accounting software, excel
• Researches and answers Management questions regarding tenant statements
• Reviews and approves work such as tenant credit memos, non-recurring tenant billings and questionable cash receipts for entry in tally
• Prepare security deposit refund, final statement, tenant fines and all other receipts through tally
• Prepare tenant account analysis and reconciliations when tenants dispute charges to their accounts
• Preparation, receipt, review and submission of post-dated cheques
• Monitor account status with the client accounts team to identify failed payment at the earliest opportunity
• Monitor, chase and support the Property Manager with the collection of aged debt and ensure forthcoming payments are under process with tenant accounts
Monthly
• Preparation of Bank reconciliation statement
• Tenant outstanding report review with property manager
• Accrual basis accounting / Cash basis accounting management
• Review of all creditors invoices with supporting documents
• Submission of creditors invoices to landlord for payments
• Payment of creditors invoices on due date – Liaoning with landlord for payment
• Payroll preparation related to security / temporary property management staff
• Review of stock report and variance analysis maintained by operations manager
• Reconciliation and understanding of all balance sheet, income statement, profit and loss accounts (where applicable) and monthly financial statements and supplementary reporting as required
• Utilize budgets and other tools to analyse variances and reconcile payments applied against major contract values
• Ensure legislative taxes and assessments (where applicable) are reconciled and remitted
• Monitor cash positions and anticipate future cash deficiencies
• Oversee and review monthly annual maintenance and ad-hoc charge invoices and receipts
• Monitor and review monthly receivables for accuracy, adjustments and/or corrections
• Ensure all tenant administration duties are processed as per the firm’s policies, standards and procedures
• Supply tenant analysis and statements of account as required
• Monitor and review accounts payable coding for accuracy
• Maintain a soft and hard copy filing structure that is compliant with the firm’s policies and procedures manual
• Preparation, review and issuance of the firm’s fee invoices (where applicable)
• Meeting with landlord representative / internal auditor
Annually
• Complete year end operating cost adjustments and tenant billings for assigned properties within the portfolio
• Responsible for completing accounting portion of assigned property budgets, annual business plan within assigned deadlines (where applicable)
• Follow up status of budgets throughout the draft, revised and final stages to ensure completion within the assigned deadlines
• Ensure new rental notices are sent to the tenant for coming years operating budget prior to commencement of the operating year
• Preparation of supporting documents and working papers for year-end audit processes (internal and external)
Other Duties
• Periodic invoicing for tenants who pay in various stages in advance
• Full understanding of all property specific processes and upkeep of pertinent information relating to specific properties
• Annual property tax invoicing for tenants that do not pay monthly
• New property set up, analysis and follow up of outstanding issues as required
• Property sales-final operating statement, funds distribution, closing of bank accounts and any other relevant closing duties
• Input / feedback for improving procedures and initiating quality and efficiency enhancements
• Efficient and effective communication, in a professional manner with colleagues, clients, vendors and visitors.
• Respond to audit queries as and when required
Systems and process
• Prepare routine and ad hoc reports as and when required
• Update all parties about all issues relating to financial status of the assigned property in a timely manner
• Take necessary responsibility and action of issues found
• Prepare periodic financial reports as required
• Ensure all financial related documentation is maintained in good order and readily available when requested by the client such as copies of receipts and invoices, petty cash, Post Dated Cheques, receipt reversals, credit notes
• Attend meetings with on other properties as required by the management team to appraise/support property Management Accountants on process and system matters
• Maintain detailed and comprehensive financial control documentation to ensure the submission and payment of invoices to clients is completed in a timely manner without errors and in line with debt control policies
• Ensure all financial processes are processed correctly through TRAMPS to ensure proper and correct reporting and tracking of matters can take place