Bachelor's degree in accounting required
1 year of experience in real estate accounting field
Strong analytical skills
Strong computer skills in Excel
Effectively communicate, both verbally and in written correspondence
Organize and complete multiple tasks
Our rapidly growing accounting team is an integral part of Bedrock, managing the day-to-day financial needs of the company. The team is responsible for reporting financial and other relevant information throughout the organization, as well as to lenders, investors and regulatory/tax authorities. The team provides many services, ensuring our tenants are billed accurately and pay in a timely manner and that our vendors and lenders are paid on time. Every month, our team processes over 4,000 vendor invoices and 2,000 vendor payments and receives over 1,000 tenant payments. The team prepares financials for over 130 legal entities each month and manages nearly 20 audits each year. Accounting works closely with the Finance, Property Management and Construction Teams to set up budgets, monitor results, and ensure our properties and management companies are adequately funded.
The Staff Accountant is responsible for the day-to-day accrual based accounting for all assigned commercial and residential properties and related entities. This team member is required to interact daily with the Vice President of Accounting, Controller, Accounting Manager, other members of the accounting department, members of the asset and property management teams, and members of the various parts of the Bedrock team as required.
Complete the monthly financial reporting packages, including the preparation and analysis of the balance sheet and income statement with budget variance narratives
Be responsible for the accuracy of the General Ledger and entity records
Review and create all journal entries and prepare/post complex adjusting and closing journal entries as necessary to be in compliance with GAAP
Prepare and update fixed asset amortization and depreciation schedules
Keep and update work papers that substantiate monthly reporting and for the annual financial audit and tax returns
Review and post tenant work orders and utility billings
Review and code all invoices in the paperless accounting system
Verify and process monthly mortgage and interest payments to lenders
Calculate and process management fees
Monitor cash balances to determine the disbursement of funds and necessity for cash funding
Prepare bank and account reconciliations
Prepare schedules as necessary for cash flow projections and financial analyses
Prepare the annual budget for all entities related to your portfolio
Review lease documentation and ensure that all charges are billed pursuant to the terms
Calculate CAM estimates and complete the CAM Reconciliation process for properties
Monitor and supervise third-party financial reporting on parking garages
Create miscellaneous reports as needed by team leaders, property managers, lenders, accountants/auditors, tenants and vendors
Who We Are
Detroit-based Bedrock is a full-service real estate firm specializing in acquiring, developing, leasing, financing and managing commercial and residential buildings. Since its founding in 2011, Bedrock and its affiliates have invested and committed more than $5.6 billion to acquiring and developing more than 100 properties, including new construction of ground-up developments in downtown Detroit and Cleveland totaling more than 18 million square feet.
Bedrock’s real estate portfolio consists of more than 200 office tenants and more than 120 retailers and restaurants in Detroit’s technology-centric downtown, the majority of which are new to the market, including Microsoft, Quicken Loans, LinkedIn, StockX, Ally Bank’s national headquarters, Fifth Third Bank’s regional headquarters, WeWork, Madewell, Under Armour, Shake Shack and countless others.
Bedrock is currently developing four transformational projects, including the Hudson’s Site, Monroe Blocks, Book Tower renovation and One Campus Martius expansion. Bedrock is also undertaking construction of City Modern, a community development in Detroit’s Brush Park neighborhood. Partnering with Detroit-based Shinola, Bedrock developed the world’s first Shinola Hotel on Woodward Avenue, which opened in early 2019.
Bedrock is dedicated to creating jobs for Detroiters and investing in job training. Over the last year, the company has invested in both the Randolph Career Technical Center and the Breithaupt Career and Technical Center to build a pipeline of talent for Detroit’s growing economy.
Creating unique experiences through real estate is Bedrock’s mission. To make this a reality, Bedrock and its affiliates continuously invest in significant public art installations and placemaking initiatives throughout the city.
This is an outline of the primary responsibilities of this position. As with everything in life, things change. The tasks and responsibilities can be changed, added to, removed, amended, deleted and modified at any time by the leadership group.