Description
Four dynamic, integrated companies make up the Transwestern enterprise, giving us the perspective to think broadly, deeply and creatively about commercial real estate. Clients and investors rely on us for expertise that spans institutional and opportunistic investment, development, hospitality, and brokerage and asset services. Our award-winning, collaborative culture empowers team members with resources and independence to work across boundaries in pursuit of innovative solutions, reinforcing a reputation for service excellence that translates to measurable results. Through offices nationwide and alliance partners around the globe, we positively impact the built environment and our communities while fostering a work climate that champions career vitality for all. Learn more at transwestern.com and @Transwestern.
Transwestern Hospitality Group (THG), a full-service hospitality investment, development, and operating company, specializes in the full-service luxury boutique hotel sector. Part of the Transwestern companies and nationally recognized for venue activations and placemaking capabilities, THG brings forward-thinking ideas and applications to hospitality which enhance property performance, and harness the power of Transwestern's diverse, integrated platform to execute at the highest level.
Transwestern is built on a common purpose - Empowering Good People to do Extraordinary Things Together. We are committed to the hiring of smart, passionate, hard-working people who understand the benefits of both collaboration and independence.
POSITION SUMMARY:
The Client Accountant performs daily property accounting duties for assigned Properties that includes, but is not limited to, preparing financial reports, entering accrual and cash journal entries, reviewing operating statements and variance reports, preparing sales and mixed beverage tax forms and payable reviews, performing reconciliations and ensuring accuracy, consistency and adherence to the Management Agreements and SOC1 controls. The Client Accountant also utilizes assigned real estate accounting software to perform client accounting required tasks.
In addition, the Client Accountant also works with property management to ensure that all reporting deadlines are met, e.g., monthly operating reports, annual budgets, escalation settlements, etc., and that all property owner policies and procedures are consistently and accurately followed. The Client Accountant may be responsible for one or more properties. This position does not manage or supervise.
It is also the responsibility of the Client Accountant to deliver the Transwestern Experience when interacting and communicating with customers, owners, vendors and fellow team members.
ESSENTIAL JOB FUNCTIONS:
Note: incumbents may, or may not, be responsible for any combination of essential position functions shown here. Functions could vary by team, location or need.
Review daily activity reports from PMS (Opera) and POS (Toast) system balanced by the Night Auditor.
Roll-over and post Dailies in the accounting system.
Ensure proper sales tax recognition on folios and review tax exempt certificates on State website.
Review, deposit and post cash receipts for all folio and non-folio activities. Maintain property cash balances and review merchant/credit card activity reports.
Review and approve accounts payable disbursement items (e.g., Weekly A/P batches). Submit weekly Open A/P report for weekly check-run processing.
Setup vendors and enter supplier invoices. Prepare and submit 1099 reporting to IRS and vendors.
Review and/or prepare bank reconciliations each month for all bank accounts and cash on hand tills assigned.
Review or post folio adjustments, refunds, or chargebacks. Work to resolve billing and payment disputes and ensure travel agency payments are submitted and reconciled.
Review aged delinquency report for any adjustments, credits that need to be applied to open charges, and ensure that cash receipts have been properly applied to each folio.
Review and revise all supporting schedules with monthly charges as required by the GM or Owner. Ensure sub ledgers and supporting schedules tie to the general ledger.
Review the general ledger and income statement for any additional adjusting entries. Ensure restaurant and liquor entities are reconciled and consolidated into financial statements of the Hotel including but not limited to the review of inventory reports, comps and COGS.
Review financial statements and all monthly reports confirming that all supporting schedules tie to the financial reports. Submit monthly financial report package to the controller for review.
Monitor property bank account cash balances. 1) Check bank account web site for balance, for ACH deposits, for bank fees, and to ensure sufficient funds are available for current AP batch; 2) Transfer funds as necessary between property cash accounts to cover check-runs. 3) Request owner funding if necessary or typical for property. 4) Prepare documentation and paperwork for voids and stop payment on stale-dated checks that have not been presented for payment; submit paperwork to the controller for processing.
Prepare calculation for owner distribution based on owner requirements and time schedule. Initiate owner distribution as set forth in the Property Management Agreement.
Ensure timely payment of mortgages and property taxes. Assist with any lender reporting requirements.
Calculate the monthly Management Fee and/or Incentive Management Fee due to Transwestern Hospitality Group, including all required documents for backup.
Maintain scanned copies of monthly financial reporting packages, tax exemption forms, bank statements and reconciliations. Load all required documents into OneDrive.
Communicate effectively with clients, customers, internal and external auditors, tax preparers and team members as required.
Calculate, submit and pay sales and mixed beverage taxes for applicable entities.
Ensure all processes comply with internal control standards, tax regulations and company policies.
Other duties as assigned.
POSITION REQUIREMENTS:
A bachelor's degree with emphasis in accounting, finance or related field preferred.
A minimum of 2-3 years of recent fee-based property management or hotel accounting experience.
Working knowledge of financial terms and principles including knowledge of current accounting methods (cash and basic accruals). Ability to apply generally accepted accounting principles (GAAP) and hospitality-specific accounting standards.
Working knowledge of the budget reporting requirements of each Owner and participate/assist in the preparation of the annual budget with members of property management.
Working knowledge of the hotel and food industry processes, including but not limited to the tax treatment of food and room packages, calculation of COGS and comps (departmental food expenses).
Applicable experience in real estate accounting software, preferably with Hotel Investors Apps.
Proficiency with Microsoft Word, Excel and Adobe.
Demonstrate strong analytical capabilities with a high attention to detail.
Ability to handle multiple projects, changing priorities and demanding, time-sensitive, workload(s).
Ability to receive general work supervision/be self-managed/work independently.
Ability to provide efficient, timely, reliable and courteous service to internal and external customers.
Ability to keep information and internal communications confidential.
Exhibit excellent verbal and written communication skills.
WORK SHIFT:
LOCATION:
Houston, TXABOUT US
Transwestern's Guiding Principles are woven into the fabric of our firm and underscore the value of each individual team member. We embrace inclusion – not only as the right thing to do, but as a reflection of who we are. It is our responsibility and heartfelt desire to create an environment that elevates the human spirit and brings out the best in everyone.
Different backgrounds, life experiences and cultures shape our individual perspectives and ultimately generate the best results for our clients. Strategic human capital planning combined with development initiatives foster a work environment that celebrates uniqueness and champions the achievements attained through collaboration.
Please note that all candidates selected for an offer of employment are subject to pre-employment background checks, which may include but are not limited to, based on the role for which they have been selected: criminal history, education verification, social media review, motor vehicle records, credit history, and professional license verification. In addition, your employment with Transwestern is subject to successfully passing a drug screen check prior to your starting with the Company along with satisfactory references.
We understand you have a choice when choosing where to work and pursue a career. We understand you are unique and have your story. We want to hear it. We encourage you to apply today so that you may become a part of the Transwestern story.
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