The Accountant is responsible for managing financial transactions, maintaining accurate records, and ensuring compliance with accounting standards and real estate regulations. This role supports financial planning, budgeting, and reporting for real estate projects and ensures the financial health of the organization.
Key Responsibilities:
1. Financial Management:
Record and maintain accurate financial transactions related to real estate projects, such as property sales, leases, rentals, and construction costs.
Manage accounts payable and receivable, including vendor payments and client invoicing.
Reconcile bank statements, ledger accounts, and project finances regularly.
Prepare cash flow statements to monitor incoming and outgoing project funds.
2. Budgeting and Cost Management:
Assist in preparing and managing budgets for real estate projects.
Monitor and track expenses against project budgets to ensure cost control.
Analyze variances in budgets and propose corrective measures.
3. Taxation and Compliance:
Ensure compliance with local tax laws, including GST, TDS, and RERA requirements (if applicable).
Prepare and file tax returns and statutory compliance reports on time.
Assist in audits, both internal and external, and ensure proper documentation for financial records.
4. Financial Reporting:
Prepare monthly, quarterly, and annual financial statements, including balance sheets, income statements, and profit-and-loss reports.
Generate project-specific financial reports to track profitability and cost efficiency.
Support management in decision-making by providing financial analysis and projections.
5. Real Estate-Specific Tasks:
Maintain records of property inventories, sales agreements, lease contracts, and other documentation.
Track and report revenue from property sales, rentals, and brokerage commissions.
Handle financial aspects of property acquisitions, including due diligence and transaction costs.
6. Software and Systems Management:
Use real estate accounting software (eg, QuickBooks, Yardi, Buildium, or Tally) to manage finances.
Implement digital tools and spreadsheets for efficient financial tracking and reporting.
7. Vendor and Client Coordination:
Coordinate with vendors, contractors, and clients for payment schedules and financial reconciliations.
Address financial queries and resolve discrepancies promptly.
Educational Qualifications:
Bachelor s degree in Accounting, Finance, or a related field.
Chartered Accountant (CA), Certified Public Accountant (CPA), or equivalent certification is a plus.