Lease Accountant

Job Description for Lease Accounting and Fixed Assets Manager

Job Title: Lease Accounting and Fixed Assets Manager

Position Overview:

We are seeking an experienced and detail-oriented Lease Accounting and Fixed Assets Manager to lead the accounting, reporting, and compliance functions for the company’s lease and fixed asset portfolios. This individual will be responsible for managing end-to-end lease and fixed asset accounting in compliance with U.S. GAAP, including ASC 842 and asset capitalization standards. The ideal candidate will have strong technical accounting knowledge, system experience, and leadership skills.

Key Responsibilities:

1. Lease Accounting:

 Oversee the end-to-end lease accounting process, ensuring compliance with ASC 842.

 Review and approve journal entries related to ROU assets, lease liabilities, straight-line rent, lease incentives, and modifications.

 Maintain accurate lease schedules and coordinate updates for new, modified, and terminated leases.

 Partner with Real Estate, Legal, and Operations teams to ensure timely and accurate lease data flow.

 Manage lease accounting system administration (e.g., CoStar, Visual Lease, Lucernex).

 Prepare lease-related disclosures for internal reporting and external audits.

2. Fixed Assets:

 Lead the fixed asset accounting function including capitalization, depreciation, disposals, impairments, and transfers.

 Maintain and reconcile the fixed asset sub ledger to the general ledger.

 Review construction-in-progress (CIP) balances and ensure timely capitalization.

 Monitor compliance with asset capitalization policies and identify process improvements.

 Support internal controls and audit readiness related to capital expenditures.

3. Leadership & Reporting:

 Manage and mentor a team of lease and fixed asset accountants.

 Develop and maintain accounting policies and procedures related to lease and fixed asset accounting.

 Support monthly, quarterly, and annual close processes.

 Prepare reporting packages, variance analysis, and supporting schedules for management and auditors.

Qualification Required

 Bachelor’s degree in Accounting, Finance, or a related field.

 At least 5 years of accounting experience, including 2+ years in a managerial or supervisory role.

 Strong knowledge of U.S. GAAP, including ASC 842 and fixed asset accounting standards.

 Proficiency with NetSuite or other ERP systems (e.g., Oracle, SAP) and lease/fixed asset sub ledger systems is a prerequisite. Experience with lease accounting software (e.g., CoStar, Visual Lease, Lucernex)

 Excellent analytical, communication, and organizational skills.

 Ability to manage multiple priorities and meet deadlines.

 Retail or real estate industry experience.

 Strong Excel and data analysis skills.