Accounting Associate

Good Faith Pay Range: In accordance with Virginia law, the good-faith pay range for this position is $45,000-$55,000 per year. Actual compensation will be determined based on the candidate's qualifications, education, experience, skills, and other legitimate business factors. 

Position Summary

The Accounting Associate supports accounting operations for multiple affiliated entities through a centralized shared services accounting function. The position performs a combination of accounts payable, account reconciliations, property and lease accounting, and general accounting responsibilities.

The Accounting Associate is responsible for accurate and timely processing of transactions, maintaining appropriate supporting documentation, assisting with monthly close activities, and researching and resolving discrepancies across assigned entities.

The position also supports accounting for owned and leased properties, including vendor payments, property-level accounting, lease administration, rent payments, and review and reconciliation of common area maintenance (CAM), operating expenses, landlord billings and other property-related charges.

This position provides an opportunity to develop broader accounting responsibilities and progress into a Staff Accountant role as experience and proficiency increase.

Primary Responsibilities

• Review and process vendor invoices, check requests, purchase order invoices and other accounts payable transactions for multiple affiliated entities, ensuring appropriate entity, general ledger coding, documentation and approval prior to payment.
• Maintain appropriate separation and accuracy of transactions among affiliated entities.
• Review vendor statements and account activity; research and resolve discrepancies, duplicate invoices, credits and outstanding items.
• Respond to vendor inquiries and work with employees across the organization to resolve invoice and payment issues.
• Assist with preparation and processing of scheduled vendor payments.
• Perform assigned general ledger, vendor, bank and other account reconciliations for multiple entities; identify discrepancies and research and resolve reconciling items.
• Assist with monthly and year-end close activities, including preparation of assigned journal entries, reconciliations, schedules and supporting documentation.
• Assist with prepaid expense, accrual, fixed asset, intercompany and other accounting schedules as assigned.
• Assist with intercompany transactions and reconciliations among affiliated entities.
• Maintain accounting records and supporting documentation in accordance with established accounting policies and procedures.

Property and Lease Accounting

• Support accounting activities for owned and leased properties across affiliated entities.
• Process property-level accounts payable and ensure expenses are recorded to the appropriate entity, property and general ledger account.
• Maintain accurate records of lease obligations, rent schedules, payment requirements, escalation provisions and other financial terms.
• Ensure base rent, additional rent and other recurring lease payments are processed accurately and timely in accordance with lease terms.
• Review landlord invoices and statements for accuracy and reconcile amounts to applicable lease terms.
• Review and reconcile common area maintenance (CAM), operating expenses, real estate taxes, insurance and other landlord billings and annual reconciliations.
• Research discrepancies between landlord billings and lease terms and work directly with landlords and property managers to resolve questions and discrepancies.
• Review tenant and landlord bill-backs, credits and other property-related charges to ensure amounts are properly supported, allocated and accounted for.
• Assist with accounting and reconciliation activities for owned properties, including vendor expenses and other property-level activity.
• Maintain supporting schedules and documentation for property and lease-related accounts.
• Assist with lease commencements, renewals, amendments, terminations and other changes to ensure accounting records and payment schedules are updated appropriately.
• Support the transition of property accounting activities from third-party service providers to the centralized accounting function as responsibilities are brought in-house.

General

• Interact with employees throughout affiliated entities regarding accounting processes and procedures.
• Assist with audit schedules and supporting documentation as required.
• Assist with implementation, testing and adoption of new accounting systems and processes, including the organization’s transition to Workday.
• Identify opportunities to improve and standardize accounting processes, documentation and internal controls across entities.
• Assist with special projects and other accounting duties as necessary.

Requirements

Education/Experience

• Associate degree in Accounting, Business or a related field preferred; comparable accounting or accounts payable experience may be considered.
• One to three years of accounts payable, accounting or related financial experience preferred.
• Working knowledge of basic accounting principles, including general ledger accounts, debits and credits, account reconciliations and financial documentation.
• Experience working with multiple entities, locations or properties is a plus.
• Experience reviewing contracts, leases or other detailed financial documents is a plus.
• Experience with Workday Financial Management, Microsoft Dynamics GP or another enterprise accounting system is a plus.

Skills/Abilities

• Strong attention to detail and commitment to accuracy.
• Strong research, analytical and problem-solving skills with the ability to identify and resolve discrepancies.
• Ability to read and understand invoices, account statements, contracts and lease-related financial provisions.
• Ability to organize and prioritize multiple responsibilities and meet established deadlines.
• Ability to work independently while knowing when to escalate questions or discrepancies.
• Strong customer service, interpersonal, oral and written communication skills.
• Ability to communicate professionally and effectively with vendors, landlords, property managers, employees and other external parties.
• Proficiency with Microsoft Office, particularly Excel.
• Ability to quickly learn new systems, processes and accounting concepts.
• Ability to work effectively in a high-volume environment while maintaining accuracy and appropriate documentation.
• Willingness and ability to take on increasing accounting responsibilities as knowledge and experience develop.

Working Conditions

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions