Job Description
Job Description
The Lease Accountant is responsible for the accurate accounting, reporting, and analysis of the company’s real estate and equipment leases under ASC 842. This role partners with real estate, FP&A, and operations to ensure complete lease data, timely month-end close, and clear visibility into lease obligations.
Key Responsibilities
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Review and analyze lease agreements (real estate and equipment) to determine proper classification and treatment under ASC 842.
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Set up new, modified, and terminated leases in the lease accounting system and general ledger, capturing all key terms.
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Prepare and post recurring and ad hoc journal entries for lease activity, including right-of-use (ROU) assets, lease liabilities, straight-line rent, CAM, taxes, and other accruals.
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Reconcile lease-related balance sheet accounts (ROU assets, lease liabilities, prepaid/deferred rent, CAM/tax accruals) monthly and resolve variances.
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Assist with monthly, quarterly, and annual close processes related to leases, including rollforwards, schedules, and supporting workpapers.
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Prepare lease-related disclosures and supporting schedules for financial statements and audits, ensuring compliance with US GAAP and ASC 842.
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Partner with real estate, legal, and operations to track new leases, amendments, renewals, terminations, and rent changes, and validate payment schedules.
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Coordinate with Accounts Payable to ensure timely and accurate lease payments.
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Provide detailed lease cost data to support budgeting and forecasting, including rent, CAM, taxes, and other occupancy-related expenses.
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Respond to internal and external audit requests with appropriate documentation and explanations for lease accounting positions and balances.
Company DescriptionGreat Benefits and Culture here!
Company Description
Great Benefits and Culture here!