Sr Property Accountant

SENIOR PROPERTY ACCOUNTANT

Location:

Commonwealth Avenue, Quezon City, Philippines

Department

Finance and Accounting / Property Management

Reports To

Property Manager / Accounting Manager

I. Job Summary

The Senior Property Accountant is responsible for overseeing the accounting and financial management of the assigned high-rise condominium property. The position ensures the accuracy, completeness, and timely preparation of financial statements, budget reports, cash flow projections, accounts receivable, accounts payable, and other financial records relating to condominium operations.

The role involves monitoring condominium association dues and other billings, managing operating expenses, maintaining internal financial controls, ensuring compliance with applicable accounting standards and statutory requirements, and providing financial analysis to support management decisions. The Senior Property Accountant also coordinates with the Property Manager, condominium administration, unit owners, tenants, suppliers, and auditors to ensure efficient financial operations and transparency in the management of condominium funds.

Ii. Duties And Responsibilities

• Financial Reporting and General Accounting
  
  

Prepare, review, and analyze monthly, quarterly, and annual financial statements and management reports.

Ensure the accurate recording of all financial transactions in accordance with applicable Philippine Financial Reporting Standards and company accounting policies.

Review journal entries, general ledger accounts, trial balances, bank reconciliations, and adjusting entries.

Monitor the proper classification and allocation of income, expenses, assets, liabilities, and condominium operating costs.

Prepare financial schedules and supporting documents for management reporting and external audits.

Ensure timely closing of monthly and annual accounting periods.

• Condominium Dues and Accounts Receivable Management
  
  

Oversee the billing, collection monitoring, and recording of condominium association dues, special assessments, parking, rental income, and other applicable charges.

Monitor the accounts receivable aging report and identify delinquent unit owners and accounts requiring follow-up.

Coordinate with the Property Manager and administrative personnel regarding collection efforts and outstanding balances.

Verify the accuracy of unit owner ledgers, payment postings, credit adjustments, and account reconciliations.

Prepare collection performance reports and recommend measures to improve collection efficiency.

Ensure that billing and collection procedures comply with the condominium's governing documents, approved policies, and applicable laws.

• Accounts Payable and Expense Control
  
  

Review and validate supplier invoices, purchase orders, contracts, service reports, and payment requests before processing.

Ensure that disbursements are properly supported, approved, recorded, and charged to the correct expense accounts.

Monitor expenses related to utilities, security, housekeeping, engineering, maintenance, repairs, insurance, and other condominium operations.

Review vendor statements and reconcile outstanding payables.

Monitor actual expenditures against approved budgets and investigate significant variances.

Maintain appropriate controls over cash disbursements, petty cash, reimbursements, and other operating funds.

• Budgeting and Financial Planning
  
  

Assist in preparing the annual operating budget and cash flow projections for the condominium property.

Consolidate budget inputs from engineering, security, housekeeping, administration, and other operating departments.

Analyze actual financial performance against approved budgets and prepare variance analysis with explanations and recommendations.

Monitor the adequacy of funds for routine operations, major repairs, capital expenditures, and reserve requirements, as applicable.

Provide financial forecasts and recommendations to management to support cost optimization and operational planning.

• Cash and Fund Management
  
  

Monitor bank balances, cash receipts, disbursements, and cash flow requirements.

Prepare and review bank reconciliations and investigate discrepancies or unusual transactions.

Monitor the proper recording and use of condominium association funds, including restricted funds and reserve funds, where applicable.

Ensure that bank transactions and fund transfers have the required supporting documents and approvals.

Maintain proper segregation of duties and internal controls over financial transactions.

• Tax and Regulatory Compliance
  
  

Monitor compliance with applicable Bureau of Internal Revenue (BIR) requirements, including relevant tax returns, withholding taxes, and tax documentation, as applicable to the entity.

Ensure the proper preparation and maintenance of tax‑related schedules, official receipts or invoices, and other required supporting records.

Coordinate with external auditors, tax consultants, and regulatory agencies when necessary.

Assist in preparing documents required for annual financial statement audits and other regulatory submissions.

Monitor applicable deadlines and ensure timely submission of required financial and tax documents.

Maintain organized accounting records in accordance with applicable retention requirements and company policies.

• Internal Controls and Audit
  
  

Review accounting procedures and recommend improvements to strengthen financial controls and operational efficiency.

Ensure that financial transactions are properly authorized and supported by complete documentation.

Identify accounting discrepancies, unusual transactions, and potential financial risks and report them to management.

Coordinate internal and external audits and facilitate the submission of requested schedules and supporting documents.

Monitor the resolution of audit findings and implementation of corrective actions.

Help safeguard condominium funds, records, and other financial assets.

• Team Supervision and Coordination
  
  

Supervise and guide accounting staff, bookkeepers, billing personnel, and collection personnel, as assigned.

Review the work of accounting team members to ensure accuracy, completeness, and compliance with established procedures.

Coordinate with the Property Manager and other department heads regarding budgets, expenses, collections, and financial concerns.

Respond to financial inquiries from authorized management representatives, unit owners, and the condominium corporation's governing body.

Maintain the confidentiality and integrity of financial information and unit owner account records.

• Other Duties
  
  

Prepare financial analyses and special reports as requested by management.

Participate in management meetings, budget reviews, and financial planning discussions.

Perform other accounting and finance-related responsibilities consistent with the position and assigned authority.

Iii. Qualifications

Educational Requirements

Bachelor's degree in Accountancy

Work Experience

At least three (2) to five (5) years of relevant accounting experience.

Experience in financial reporting, budgeting, accounts receivable, accounts payable, cash management, and tax compliance.

Experience supervising accounting personnel and coordinating with auditors is an advantage.

Familiarity with condominium association dues, common area operating expenses, and property management accounting is highly desirable.

Technical Skills

Strong knowledge of general accounting principles and applicable Philippine accounting and tax requirements.

Proficiency in Microsoft Excel and accounting software or property management systems.

Ability to prepare financial statements, budget reports, aging schedules, bank reconciliations, and cash flow projections.

Knowledge of internal controls, audit procedures, and financial analysis.

Strong analytical, organizational, and problem‑solving skills.

Personal Competencies

High degree of integrity, accountability, and attention to detail.

Effective communication and interpersonal skills.

Ability to manage deadlines and multiple financial responsibilities.

Strong leadership, coordination, and decision‑making abilities.

Ability to handle confidential financial information professionally.

IV. KEY PERFORMANCE INDICATORS (KPIs)

The Senior Property Accountant's performance may be evaluated based on the following:

Financial reporting timeliness

– Submission of accurate monthly financial statements and management reports within established deadlines.

Accounting accuracy

– Minimal errors in journal entries, reconciliations, account balances, and financial schedules.

Collection monitoring

– Timely issuance of billing reports and accurate monitoring of overdue accounts.

Budgetary control

– Timely reporting of budget variances and effective monitoring of operating expenses.

Accounts payable management

– Accurate processing of approved payments and timely reconciliation of supplier accounts.

Tax and statutory compliance

– Timely completion of applicable tax filings and required financial documentation.

Audit readiness

– Completeness of accounting records and timely resolution of audit findings.

Internal control compliance

– Consistent implementation of approved accounting procedures and financial controls.

• WORKING CONDITIONS
  
  

Work assignment is based at a high-rise condominium property along Commonwealth Avenue, Quezon City.

Primarily office-based, with coordination across property management, engineering, administration, security, housekeeping, and other operational departments.

May be required to attend meetings with the Property Manager, condominium corporation officers, unit owners' representatives, auditors, and external service providers.

Must be able to meet reporting deadlines, particularly during monthly closing, annual budgeting, and audit periods.

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