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Property Accountant

Digital Realty Dallas Full-Time
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Opportunity Snapshot 

This role will give you the opportunity to expand your skills as a Portfolio Accountant in an exciting specialized industry where you’ll work independently as well as collaboratively as part of the Portfolio Accounting Revenue team. Under general supervision, you will have responsibility for preparing and completing revenue tasks related to the property level financial statements including variance analyses, general ledger reconciliations property/tenant statistics and presenting the data to Asset and Corporate Management to provide insights for better decision-making.  You will be an integral part of the Portfolio Accounting Revenue Team whose team members are highly collaborative and supportive. 

The Responsibilities

  • Responsibility for assigned tasks to ensure the timely close of the company’s North America portfolio revenue results on a monthly, quarterly, and annual basis.
  • Participate as part of a team in maintaining the integrity of the accounting and internal control systems by adhering to SOX controls.
  • Apply accounting policy consistent with US GAAP to prepare, analyze, maintain and deliver complete and accurate financial reporting for a publicly traded Commercial Real Estate company; specifically, revenue recognition.
  • Prior experience with the implementation of new systems including, testing, trouble shooting and process improvement.
  • Ongoing support of internal customer needs, specifically Asset Management, Operations, Sales, FPA, and Legal teams
  • Participate in developing/refining day-to-day operating practices and a focus on continued process improvement.
  • Ability to deal with non-routine problems, ability to establish priorities and manage competing demands.
  • Ability to manage multiple priorities and work within limited time constraints

Most of your time will be spent completing all necessary tasks associated with revenue related income statement and balance sheet accounts with an emphasis on lease interpretation and calculating straight-line rent. This diverse list of accounting tasks includes:

  • Review rent roll information, tenant charges and receivables ensuring proper recording of revenue against tenant leases and leases abstracts.
  • Interpret commercial leases to prepare and compute the associated straight-line rent (as applicable).
  • Revenue review: Tenant Improvements, Installation Fees and Lease Incentives against leasing assumptions for reasonableness and recommended GAAP guidance to ensure proper revenue recognition.
  • Assist in the preparation of the financial statements including supplemental reporting by participating in the month end portfolio accounting revenue close:
    • Prepare and record monthly bad debt expense by applying the company’s bad debt policy to a portfolio of properties.
    • Analyze general ledger, calculate and prepare necessary journal entries to ensure accurate financial results for the North America Portfolio.
    • Prepare and review monthly account reconciliations and analyze variances.
    • Update monthly workpapers supporting each balance sheet account.
    • Review monthly balance sheet and income statement activity.
    • Prepare bank reconciliations and resolve any variances.
    • Ability to calculate Straight-line rent. 
  • Quarter end, year-end, and month end income statement flux preparation and analysis. Process includes a thorough investigation of changes in, for instance, operating revenues or expenses
  • Quarterly REIT compliance testing for specified revenue accounts.
  • Support property acquisition and disposition process through recording of revenue related opening and closing entries and follow-up to ensure cross-functional team responsibilities have been completed.
  • Fulfill various ad-hoc project requests from Accounting Managers and Internal customers (Asset Management, Operations, Finance).
  • Held for Sale reporting and Technical Accounting research.
  • Document policies, procedures and workflow for revenue areas of responsibility as assigned.
  • Participate in the preparation of audit schedules as requested in the PBC lists during interim and year-end audit.
  • Completes monthly sales and use tac returns for assigned properties
  • Develop knowledge of new accounting pronouncements ACS 606 and ACS 842
  • Additional responsibilities as assigned.
  • Meet all accounting deadlines.

Other possible tasks may include:

  • Recording monthly expense accruals for the North American portfolio.
  • Prepare CAM reconciliations on a monthly, quarterly and annual basis.
  • Recording monthly depreciation and amortization schedules for fixed assets.
  • Recording monthly amortization entries for prepaid expenses.
  • Preparing and recording recovery reimbursements.
  • Calculation of management fees.

The Requirements

  • A bachelor’s or master’s degree in Accounting, Finance or equivalent experience/education.
  • 3+ years progressive work experience in Accounting, Finance or related discipline; preferably in property accounting; knowledge of commercial leases and revenue related recoveries is strongly preferred
  • Strong knowledge of GAAP; prior working knowledge in preparing US GAAP financials.
  • Experience working within a multi-national environment.
  • Working knowledge of Sarbanes Oxley is highly desirable.
  • Demonstrated aptitude with ERP systems; systems and process integration.
  • Must be able to effectively handle multiple projects simultaneously in a deadline driven environment.
  • Ability to comprehend, analyze, and interpret complex documents. Exceptionally strong analytical and quantitative skills are essential to this role.
  • Proficient on MS Office applications with a strong emphasis on Excel proficiency.

Your core competencies and attributes should include:

  • Advanced interpersonal skills and the ability to effectively work cross-functionally, with a variety of shareholders at multiple levels.
  • The energy and drive to thrive in a fast-paced, high pressure environment.
  • A high sense of urgency.
  • The ability to stay on track and consistently meet and exceed deadlines. 
  • Focus oriented, prioritization and multi-tasking skills are essential.
  • A high level of integrity and principles that embrace transparency. 
  • Meticulous attention to detail, solid organizational skills and the ability to work efficiently and independently.
  • Prior employment history that demonstrates resourcefulness and the ability to produce accurate work in a detailed, timely and organized manner.

You'll also need:

  • Analytical thinking skills combined with the ability to find creative solutions.
  • Strong business acumen, with a natural ability to interpret data and clearly align it to business goals.
  • Excellent presentation skills and comfort presenting to senior management.
  • Excellent verbal and written communications skills.
  • Experience with Multi-dimensional reporting tools is a plus (Oracle, Host, Birst)

Digital Realty: Where the cloud lives and business thrives

We built the global standard for technical real estate, developing a unique capability to acquire, manage, and scale data center campuses. Now, Digital Realty is building a unique ecosystem of open solutions that power customer growth through exceptional service on a foundation of unrivaled data center expertise. The new Digital Realty combines unparalleled data center services, carrier-dense interconnection, real estate acumen, and financial strength to create unique power of choice and value when and where our customers need it.

 

Our Mission

To provide our customers with the trusted foundation for the digital world.

Our Vision

To build a network of connected campuses and internet gateways that become the heart of the internet and cloud, powering growth and prosperity for customers, employees and shareholders.

Our Values

Guide our decisions and actions every day—above all else, we value customers, excellence, talent, teamwork and success.

About Digital Realty

Digital Realty Trust, Inc. supports the data center and colocation strategies of more than 2,000 firms across its secure, network-rich portfolio of data centers located throughout North America, Europe, Asia and Australia. Digital Realty's clients include companies of all sizes, ranging from financial services, cloud and information technology services, to manufacturing, energy, gaming, life sciences and consumer products.

Disclaimer:

The above statements are intended to describe the general nature and level of work being performed by people assigned to this job. They are not intended to be an exhaustive list of all responsibilities, duties, and skills required of personnel so classified.

Digital Realty Trust is committed to employing a diverse workforce. We value and actively seek to recruit, develop and retain people with backgrounds, experiences and perspectives that reflect the full diversity of our society.

Digital Realty is a publicly traded company (NYSE: DLR) with investment grade ratings from all three major ratings agencies.

Digital Realty offers a highly competitive compensation package, excellent benefits, and an environment that recognizes and rewards your contributions.

Digital Realty is an equal opportunity employer, EOE/AA/M/F/Vets/Disabled

Please do not forward unsolicited resumes to any employee of Digital Realty and its subsidiaries. Digital Realty is not responsible for any fees related to unsolicited referrals.



 

Skills required

Financial Statements
Financial Analysis
General Ledger
Standard Accounting Practices
Finance
Accounting

Location

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Property Accountant
Estimated Salary: $81K
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Job ID: 2181

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Digital Realty’s ecosystem of data centers, colocation and interconnection strategies power customer growth through exceptional service and unrivaled data center expertise. Our global strength is matched by local expertise with on the ground experts in each market. With an industry leading 11 consecutive years of five nines (99.999%) and counting, Digital Realty has paved the way for the digital economy.

4 Continents
12 Countries
195+ Data Centers
30+ Global Metros

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