AP / AR Specialist

What is an AP / AR Specialist?

An AP/AR (Accounts Payable/Receivable) Specialist plays a critical role in maintaining the financial health of a real estate organization. This position is responsible for managing expenses, vendor payments, tenant billing, and financial reconciliation while ensuring compliance with industry standards and regulations.

AP/AR Specialists act as the backbone of the accounting function, ensuring that payments are processed accurately, invoices are sent on time, and financial records are well-maintained.

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AP / AR Specialist Job Description

We are seeking a detail-oriented AP/AR Specialist to join our real estate team. In this role, you will manage accounts payable and receivable processes, oversee financial transactions, and ensure compliance with accounting principles and regulatory requirements.

You will collaborate with vendors, tenants, and internal teams to resolve discrepancies, process payments, and generate financial reports. If you have a strong background in accounting and a passion for real estate, we encourage you to apply.

In this role, you will: 

Accounts Payable

• Expense Management: Allocate expenses to appropriate accounts and cost centers while controlling petty cash spending.
• Vendor Payments: Verify vendor accounts, process payments, and maintain accurate vendor records.
• Purchase Orders: Resolve purchase order discrepancies, process amendments, and issue stop payments when necessary.
• Payroll Monitoring: Handle payroll expense claims, including overtime and salary advances.
• Financial Reconciliation: Ensure all account transactions align with the general ledger.
• Compliance: Stay updated on regulatory requirements and accounting best practices.

Accounts Receivable

• Payment Processing: Process incoming payments, ensuring adherence to company policies.
• Transaction Management: Verify, classify, post, and record accounts receivable data accurately.
• Billing and Invoicing: Prepare and send bills and invoices to tenants and property owners.
• Reconciliation: Reconcile accounts receivable ledgers to ensure financial data is accurate.
• Collections: Resolve billing discrepancies, send payment reminders, and follow up on overdue accounts.
• Reporting: Generate financial statements and detailed reports on accounts receivable status.

Essential Skills & Qualifications:

• Professional Experience: Proven experience as an AP/AR Specialist or similar role in the real estate industry.
• Technical Proficiency: Advanced skills in accounting software and property management systems.
• Accounting Knowledge: In-depth understanding of AP/AR principles, industry regulations, and accounting standards.
• Analytical Skills: Extensive experience with account reconciliation and financial reporting.
• Organizational Abilities: Strong time management skills to handle multiple tasks efficiently.
• Communication Skills: Excellent verbal and written communication to collaborate with vendors, tenants, and team members.
• Problem-Solving Skills: Proactive approach to resolving billing and payment issues.
• Attention to Detail: Exceptional data entry skills and focus on accuracy.

Preferred Qualifications:

• Advanced Certifications: Professional certifications such as CPA (Certified Public Accountant) or CMA (Certified Management Accountant) are a plus.
• Industry Knowledge: Familiarity with real estate-specific accounting tools like Yardi, MRI Software, or AppFolio.
• Regulatory Expertise: Comprehensive understanding of state and federal regulations affecting real estate accounting and tax compliance.
• Process Improvement Experience: Demonstrated ability to streamline AP/AR processes for increased efficiency.
• Reporting Skills: Advanced expertise in creating detailed financial reports for stakeholders.
• Interpersonal Skills: Proven ability to build relationships with vendors, tenants, and internal teams, enhancing collaboration and conflict resolution.