Senior Accountant

Company 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 Friday 8:30 AM – 5 PM or as position requires.

Work Location

Onsite at our headquarters in Glen Allen, Virginia. One (1) optional remote day per week.

Compensation & Benefits

• 100% Employee-only Benefit Premiums covered for Medical Plan
• $35/Per Paycheck Cell Phone Reimbursement
• 120 Paid Time Off (PTO) Hours, plus 40 hours of Sick Time
• 11 Company-paid holidays, 2 Floating holidays, and 2 days of VTO (Voluntary Time Off)
• Matching 401(k) Contribution with Immediate Vesting
• 30% Housing Discount
• Professional Development Opportunities

Equal Opportunity Employer

At Capital Square Living, we believe in creating a diverse and inclusive workplace that reflects the communities we serve. We are committed to providing equal employment opportunities to all individuals, regardless of race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, veteran status, or any other characteristic protected by law.

We celebrate differences, value unique perspectives, and strive to create a culture where everyone feels empowered to contribute their best. If you need assistance or accommodations during the application process, please don’t hesitate to let us know.