General Accountant (Real Estate)

Job Title: General Accountant – Real Estate & Development

Department: Finance / Accounting

Job Purpose:

To manage and record accounting transactions related to real estate activities, including leasing, construction projects, contractor payments, and long-term lease contracts, ensuring compliance with IFRS and accuracy of financial reporting.

Key Responsibilities:

1. General Accounting

- Record daily journal entries in the ERP system (e.g., Odoo).

- Prepare monthly accruals, prepayments, and adjusting entries.

- Perform bank reconciliations.

- Support month-end and year-end closing processes.

2. Leasing Accounting

- Recognize rental revenue in line with the accrual basis.

- Manage deferred revenue schedules based on lease agreements.

- Issue tenant invoices in accordance with contract terms.

- Monitor collections and reconcile receipts with issued invoices.

- Review accounts receivable aging and follow up on overdue balances.

3. Construction & Development Accounting

- Track and control capital expenditure (CAPEX) for projects.

- Record contractor payments based on approved progress certificates.

- Review contractor invoices and ensure alignment with project milestones.

- Capitalize eligible costs under Construction in Progress (CIP).

- Coordinate with project teams to validate progress and costs.

4. Contractor & Contract Accounting

- Review contracts (value, payment terms, retention, penalties).

- Account for retention payables and accruals.

- Track and settle advance payments to contractors.

5. Lease Accounting (IFRS 16 – Right of Use)

- Recognize Right-of-Use assets and lease liabilities.

- Prepare amortization schedules.

- Record depreciation and interest expense.

- Handle lease modifications.

6. Reporting & Compliance

- Prepare financial and management reports.

- Perform variance analysis.

- Support VAT filings and ensure compliance.

- Prepare audit documentation.

Qualifications:

- Bachelor's degree in Accounting or Finance.

- Minimum 5 years of experience in related fields (real estate & development) accounting.

- Experience in IFRS 16, IFRS 15, leasing, and construction accounting.

- ERP experience (Odoo preferred).

Skills:

- Strong analytical skills.

- Advanced Excel.

- High accuracy and attention to detail.

- Strong communication skills.

Preferred:

-ACCA, or CPA (or in progress).

- Experience in real estate or asset management companies.