Senior Financial Accountant (Owners Association/Community Management)

Palazzo Versace Dubai; Dubai; On-site; AED 167,000 - 257,000; Full time

Job summary

Palazzo Versace Dubai is seeking an experienced OA Accountant to manage budgets, service charge calculations, invoicing, and VAT compliance for a residential community.

You will work with Mollak to generate invoices, track collections, and reconcile with the regulated bank and RERA requirements, while preparing periodic financial reports for auditors and management.

Qualifications

• Bachelor's Degree in Accounting, Finance, or related discipline.
• Minimum 3 years of hands‑on OA/Community Management accounting experience.
• Strong knowledge of RERA regulations, STRATA Law, and OA financial requirements.
• Hands‑on experience using the Mollak system for budgeting, invoicing, collections, and reporting.

Responsibilities

• Prepare OA budgets and service charge calculations as per STRATA Law and RERA Rules.
• Facilitate payments to service providers in line with approved budget and requirements.
• Generate and issue service charge invoices to Residence Owners using Mollak.
• Manage service charges collection and reconcile with bank account and Mollak/Mollak system.
• Invoicing, collection and deposits of OA incomes (hot water, water, gas, penalties) with proper records.
• Prepare financial reports for auditors and RERA.
• Track VAT collected/paid and file VAT returns/payments timely.
• Provide MIS reports to management and maintain accounting records.

Skills

OA accounting

Service charge budgeting

Mollak system

Excel

Financial reporting

Bank reconciliations

English communication

Education

Bachelor's Degree in Accounting/Finance

Tools

Mollak system

Accounting software

Excel

Job description

• Prepare Owners Association budgets & calculation of Service Charges in accordance with the STRATA Law and other Rules and Regulations as prescribed by the Real Estate Regulatory Agency, Dubai (RERA).
• Facilitate release of payments to various service providers and suppliers in line with the approved budget and as per requirements prescribed by RERA and Escrow Trustee bank.
• Well versed with RERA's Mollak system to facilitate generation and issuance of Service Charges invoices to Residence Owners on time.
• Manage service charges collection process, maintain records of Service Charges received from the Residence Owners, track outstanding service charges and reconciliation of the amount received in the Regulated bank account and RERA's Mollak system.
• Facilitate Invoicing, Collection and Depositing of other OA incomes such as Hot Water, Potable Water, Gas charges, Penalties etc. received and maintain proper records of the same.
• Prepare financial reports as required by the Auditors & RERA.
• Keep track of VAT collected & paid and ensure timely filing of VAT returns and / or payments to the respective authority.
• Provide periodical MIS reports to the management.
• Perform other standard book keeping & accounting tasks associated with the day-today operations and management of STRATA / Body corporate and maintain accounting records of all associated financial transactions.

Key Responsibilities:

• Prepare Owners Association budgets & calculation of Service Charges in accordance with the STRATA Law and other Rules and Regulations as prescribed by the Real Estate Regulatory Agency, Dubai (RERA).
• Facilitate release of payments to various service providers and suppliers in line with the approved budget and as per requirements prescribed by RERA and Escrow Trustee bank.
• Well versed with RERA's Mollak system to facilitate generation and issuance of Service Charges invoices to Residence Owners on time.
• Manage service charges collection process, maintain records of Service Charges received from the Residence Owners, track outstanding service charges and reconciliation of the amount received in the Regulated bank account and RERA's Mollak system.
• Facilitate Invoicing, Collection and Depositing of other OA incomes such as Hot Water, Potable Water, Gas charges, Penalties etc. received and maintain proper records of the same.
• Prepare financial reports as required by the Auditors & RERA.
• Keep track of VAT collected & paid and ensure timely filing of VAT returns and / or payments to the respective authority.
• Provide periodical MIS reports to the management.
• Perform other standard book keeping & accounting tasks associated with the day-today operations and management of STRATA / Body corporate and maintain accounting records of all associated financial transactions.

Candidate Requirements:

• Bachelor's Degree in Accounting, Finance, or a related discipline.
• Minimum 3 years of hands‑on Owners Association (OA), Community Management, STRATA, or Property Management accounting experience.
• Strong working knowledge of RERA regulations, STRATA Law, and Owners Association financial requirements.
• Hands‑on experience using the Mollak system for service charge budgeting, invoicing, collections, and reporting.
• Proven experience in service charge accounting, budgeting, collections, and bank reconciliations.
• Sound knowledge of UAE VAT regulations and financial reporting requirements.
• Proficiency in accounting software and advanced Microsoft Excel.
• Strong analytical, organizational, and problem‑solving skills.
• Excellent communication skills in English, both written and verbal.
• Ability to work independently and manage the complete accounting function of a residential community or Owners Association.