Senior Accountant - Rea Estate

Job Summary

The Senior Accountant is responsible for managing and overseeing accounting operations related to residential and commercial real estate portfolios. This role ensures accurate financial reporting, compliance with accounting standards, effective control of property-level financials, and timely support to management for decision-making. The position covers leasing revenue, service charges, property expenses, project accounting, and statutory compliance.

Key ResponsibilitiesFinancial Accounting & Reporting

• Prepare and review monthly, quarterly, and annual financial statements for residential and commercial properties.
• Ensure accurate recording of rental income, service charges, parking fees, and other property-related revenues.
• Maintain general ledger, trial balance, and supporting schedules.
• Perform month-end and year-end closing activities.

Property & Lease Accounting

• Manage lease accounting for tenants, including rent schedules, escalations, renewals, and terminations.
• Reconcile rental income with lease agreements and tenancy contracts.
• Monitor accounts receivable, aging reports, and follow up on outstanding receivables with leasing/property management teams.
• Account for security deposits and tenant advances.

Expense Control & Payables

• Review and record property operating expenses, maintenance costs, utilities, and service contracts.
• Ensure proper cost allocation between residential and commercial units.
• Verify supplier invoices and ensure compliance with contracts and approvals.
• Monitor budgets versus actuals and investigate variances.

Project & Asset Accounting

• Maintain fixed asset registers for buildings, improvements, and equipment.
• Account for capital expenditures, renovations, and development costs.
• Calculate and record depreciation and impairment, if applicable.
• Support handover of projects from construction to operational assets.

Budgeting & Forecasting

• Assist in preparation of annual budgets and periodic forecasts for property portfolios.
• Provide financial analysis and reports to support rental pricing, investment decisions, and cost optimization.
• Prepare cash flow forecasts related to property operations.

Compliance & Audit

• Ensure compliance with IFRS and applicable local regulations.
• Prepare schedules and documentation for internal and external audits.
• Support tax filings, VAT calculations, and regulatory submissions related to real estate operations.
• Ensure adherence to company policies and internal controls.

Team Support & Coordination

• Supervise and guide junior accountants or accounts officers.
• Coordinate with property management, leasing, facilities, and legal teams.
• Support Finance Manager with ad-hoc reports and management requests.

Qualifications & Experience

• Bachelor’s degree in Accounting, Finance, or related field.
• Professional qualification such as ACCA, CPA, CMA, or equivalent (preferred).
• Minimum 5–8 years of accounting experience, with at least 3 years in real estate (residential and commercial).
• Strong knowledge of lease accounting, revenue recognition, and property financials.
• Experience with ERP/accounting systems (e.g., SAP, Oracle, Tally, Yardi, or similar).
• Experience in GCC real estate market is an advantage.

Job Type: Full-time

Application Question(s):

• Are your ready to Join Immediately?

Experience:

• Real Estate Accountant: 3 years (Required)

Location:

• Muscat (Required)