Senior Accountant

Company OverviewHeadquartered 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.SummaryCapital 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 ResponsibilitiesPost mortgage payment and verify escrow balancesReview lender website for tax and insurance escrow disbursementsRecord prepaid insurance amortization, real estate and property tax accruals, and tax/insurance self-escrow entriesPost depreciation and amortization entriesRecord monthly capital reserve accrualPerform review of GPR report for errors and follow up with Yardi consultant for correctionReconcile property bank accountsReconcile Accounts Receivable and Prepaid Yardi balances to Balance SheetReconcile Security Deposit Activity Report to Balance Sheet and record true-up of SD Liability to Self-EscrowAccrue unpaid fees (asset management, capital reserve, and DST admin)Review GL for utility and other accrualsCreate draft financial packages according to monthly deadlines and share with regional, property, and leadership teamsAddress reclasses and accruals requested by field managementReview Balance Sheet on cash basisCreate and distribute finalized monthly property level financial packages with regional, property, property, and leadership teamsREIT Related ResponsibilitiesConduct a detailed review of REIT financials, including property management operations and corporate-level financial consolidationPrepare, review and post journal entries for assigned properties, including depreciation, amortization, and other ad-hoc entries as requested from the Accounting Manager or ControllerComplete 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 paymentsReview daily cash for REIT corporate entitiesComplete bank reconciliations for all REIT related entitiesParticipate in the month-end close and adhere to close deadlinesAssist with external audit requestsRemaining ResponsibilitiesCollaborate with other departments to ensure proper reporting of financial informationMeet periodically with staff accountants and asset management teams to discuss property performance and financialsAnalyze financial data for variances and provide relevant information to the operations teamAssist the Accounting Manager with more complex issues and tasks as neededWork with Accounting Manager in setting and refining policies and procedures, continually focusing on accuracy and efficiencyAssist with financial related questions from Accounting, property teams, and senior managementParticipate in system testing, implementation, and data validation during the conversion of property financial records from external partiesEnsure accurate and timely filing and payment of real estate taxes, sales and use tax, business licenses and personal property taxes as neededPerform ad hoc analysis and projects as requested by Accounting Manager or ControllerKnowledge And Skills RequirementsBachelor’s degree in Accounting is requiredCPA or master’s degree a plusMinimum of 4-6+ years of accounting and financial reporting requiredKnowledge of real estate terms, definitions, and accounting is a mustKnowledge of US GAAP, internal controls, and financial reporting requiredDemonstrates full understanding of general ledger and sub-ledgerTechnology proficient, including Microsoft Word and ExcelExperience in property management strongly preferredExperience with Yardi preferredWork HoursMonday through Friday 8:30 AM – 5 PM or as position requires.Work LocationOnsite at our headquarters in Glen Allen, Virginia. One (1) optional remote day per week.Compensation & Benefits100% Employee-only Benefit Premiums covered for Medical Plan$35/Per Paycheck Cell Phone Reimbursement120 Paid Time Off (PTO) Hours, plus 40 hours of Sick Time11 Company-paid holidays, 2 Floating holidays, and 2 days of VTO (Voluntary Time Off)Matching 401(k) Contribution with Immediate Vesting30% Housing DiscountProfessional Development OpportunitiesEqual Opportunity EmployerAt 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.