Accounting Manager, Residential Development

Madison Group; Toronto; On-site; CAD 80,000 - 120,000; Full time

Job summary

Madison Group is seeking an Accounting Manager for its Residential Development portfolio. This role involves maintaining financial records, preparing reports, and overseeing key accounting functions. The ideal candidate will have significant experience in residential cost accounting and demonstrate strong analytical skills within a collaborative and diverse work environment.

Qualifications

• 8+ years of Residential / Job Cost Accounting experience.
• Excellent knowledge of residential cost accounting procedures.
• Preferred experience with NewStar, Caseware, and Yardi.

Responsibilities

• Maintain the general ledger and annual working paper files.
• Prepare general quarterly financial reports and project reports.
• Oversee monthly bank reconciliations and accounts reconciliation.

Skills

Residential cost accounting

Analytical skills

Problem-solving skills

Attention to detail

Communication skills

Education

Accounting designation

Equivalent education and experience

Tools

MS Excel

NewStar

Yardi

Caseware

Job description

Title : Accounting Manager, Residential Development

Department : Accounting

Reports To : VP, Accounting

About Us :

Madison Group is a widely diversified real estate and land development company with extensive experience in building master-planned communities, low-rise, and high-rise residential projects. Madison Group also operates a substantial portfolio of retail, commercial, and industrial projects.

For over 55 years, Madison Group has built its foundation on integrity and innovation and our commitment to our customers is our foremost priority. Madison Group focuses on creating quality homes and residences in desirable areas firmly rooted in a sense of community. Our reputation is defined by the talent, dedication, and passion of our team.

For further information, please visit our website at madisongroup.ca.

General Description :

The Accounting Manager, Residential Development will report to the VP, Accounting. This candidate will be responsible for the accounting functions within the real estate development and residential portfolio.

Primary Responsibilities :

• Maintain the general ledger and annual working paper files for residential portfolios by posting year-end journal entries and preparing financial statements
• General quarterly financial reports and monthly project reports required by lenders
• Develop, implement, and maintain construction management system, including setting up projects (jobs), budgets, job costs, cost codes, contracts, change orders, purchase orders, and various construction progress reports
• Perform and oversee monthly bank reconciliation and reconciliation of control accounts (accounts receivable and accounts payable) to subsidiary ledgers, intercompany balances, schedules of balance sheet accounts
• Review monthly HST reconciliations, file HST returns, and ensure remittances for each residential project property on a prompt basis
• Perform accounting duties throughout the project, such as posting acquisitions and sales closings entries for high rise and low rise projects, analyzing all transactions, and working unforeseen costs into the budget, and estimating cash flow
• Ensure accurate preparation of SOAs and verify that all SOAs align accurately with records at the time of closings, confirming that all closing funds received matched with sales records
• Generate intercompany charge-back bills and reconciliations
• Review purchase orders and accounts payable listing, prepare accounts payable journals, and process invoices if needed
• Manage Accounts Payable staff and ensure that invoices are entered into the system correctly and that all relevant supporting schedules are complete and accurate
• Ensure that holdbacks are retained and released in compliance with contractual agreements
• Oversee bank loans / BA renewals
• Other duties / projects as assigned from time to time

Required Skills and Qualifications :

• Minimum of 8+ years of Residential / Job Cost Accounting experience, or an equivalent combination of education and experience
• Excellent knowledge of residential cost accounting and related financial procedures
• Experience with NewStar (Constellation) is an asset, and advanced working knowledge of MS Excel and Word is required
• Experience and knowledge of all aspects of year-end working papers preparation and Caseware is preferred
• Accounting designation or in progress is preferred
• Knowledge of Yardi is an asset
• Excellent written and verbal communication skills and possess strong analytical and problem-solving skills
• Solid analytical and mathematical skills
• Meticulous attention to detail and a high level of accuracy
• Ability to multitask and thrive in a fast-paced environment

Madison Group celebrates diversity and is proud to be an equal opportunity employer. We are committed to creating an inclusive environment for all employees and applications and make all employment-related decisions without regard to race, colour, religion, sex, national origin, sexual orientation, gender, age, disability, or veteran status.

We thank all applicants for their interest; however, only those selected for an interview will be contacted.

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