What does a Real Estate Accountant do?
Published 3 min read
A real estate accountant is responsible for the financial management of a company's real estate portfolio. They produce financial reports, monitor and forecast cash flow, and manage the budget for all real estate related expenses. They also work with the real estate team to ensure that all transactions are properly recorded and comply with regulatory requirements.
Real Estate Accountant job duties include:
- Maintaining and reconciling ledgers
- Preparing month-end, quarter-end, and year-end financial statements
- Calculating and preparing property tax returns
- Coordinating with property managers to ensure timely rent collection and deposit
- Reviewing invoices for accuracy and coding expenses to the correct account
- Assisting with the preparation of budgets
- Analyzing variances and preparing explanations for management
- Generating reports on income, expenses, occupancy, etc.
- Participating in audits conducted by outside agencies
- Providing support to the accounting department as needed
Real Estate Accountant Job Requirements
A real estate accountant should have at least a bachelor's degree in accounting, although a master's degree in accounting or business administration is preferred. Certification as a Certified Public Accountant (CPA) is also preferred. A real estate accountant should have at least five years of experience working in accounting, and preferably two to three years of experience working in the real estate industry.
Real Estate Accountant Skills
- Real Estate Accounting
- Financial Analysis
- Financial Reporting
- Budgeting
- Forecasting
- Variance Analysis
- Cash Flow Management
- Accounts Receivable
- Accounts Payable
- Tax Planning & Preparation
- Audit Preparation & Support
- General Ledger
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How to become a Real Estate Accountant
A real estate accountant is responsible for the financial management of a company’s real estate portfolio. They work with the company’s accounting team to ensure that all real estate transactions are properly recorded and that the financial statements are accurate.
To become a real estate accountant, you will need to have a strong background in accounting and finance. You should also be familiar with the real estate industry and the different types of transactions that take place. Familiarity with tax laws and regulations will also be helpful.
If you are interested in becoming a real estate accountant, you should start by pursuing a degree in accounting or finance. Once you have completed your degree, you can then apply for jobs at real estate firms or companies that manage large portfolios of real estate.
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