Gaheez Ghowrwal
Rancho Palos Verdes,CA
Summary
Vice President of Accounting with strong real estate accounting background. Profound knowledge and practice of Financial and Management Accounting with detailed understanding of Accounting Systems and ERPs. Highly experienced in internal control, and accounting process improvement and system implementations. Expert in preparing and reviewing financial reports, budgets and important company forecasts. Excellent in cultivating effective working relationships at all levels while driving the improvements in business processes.
Overview
16
16
years of professional experience
Work History
Vice President of Accounting
Starpoint Properties
01.2022 - Current
- Reviewed entity legal documents such as operating agreement, management agreements and loan documents to ensure financial reporting requirements were met.
- Conducted 1031 Exchange analysis to help determine the tax implication of potential exchanges.
- Worked with brokers/lenders secure financing for new properties and refinancing the loans that mature.
- Reduced operational costs through the identification of inefficiencies and implementation of cost-saving measures.
- Introduced internal controls to monitor critical areas of financial control and devised corrective actions to address risks or deficiencies.
- Worked with department heads to create and supervise annual budgets and track actual expenses against projected expenses through creation of complex financial model that tracked and corroborated expenses.
- Submit income tax paperwork for 135 entities to the tax firm for annual income tax returns and preparation of K-1s.
- Managed and responded to investor queries in relation to their investments in the firm and frequently generate and publish investor reporting to keep them abreast of the financial performance of the assets.
- Supervised accurate, efficient, and compliant completion of monthly financial, management and investor reporting packages.
- Used Yardi Voyager and Juniper Square to update and maintain investor ledgers including capital account and SREOs.
- Oversaw all aspects of monthly financial reporting and relationships with banks.
- Managed outstanding balance amounts by evaluating reports and determining collection statuses.
- Supervised and guided accounting staff which comprised of Accounting Manager (1), Senior Property Accountants (2), Property Accountants (2), Cost Accountant (1) and AP and AR processors (2).
- Completed year-end close processes through effective supervision financial functions and regular treasury transactions.
- Implemented process automation and streamlining to spare and reallocate 30% of accounting resources.
- Reviewed contracts financially impacting company and counseled executive leaders on impact contracts would have on company operations.
Corporate Controller
Starpoint Properties LLC
03.2019 - 12.2021
- Reviewed entity legal documents such as operating agreement, management agreements and loan documents to ensure financial reporting requirements were met.
- Conducted 1031 Exchange analysis to help determine the tax implication of potential exchanges.
- Worked with brokers/lenders secure financing for new properties and refinancing the loans that mature.
- Reduced operational costs through the identification of inefficiencies and implementation of cost-saving measures.
- Introduced internal controls to monitor critical areas of financial control and devised corrective actions to address risks or deficiencies.
- Worked with department heads to create and supervise annual budgets and track actual expenses against projected expenses through creation of complex financial model that tracked and corroborated expenses.
- Submit income tax paperwork for 135 entities to the tax firm for annual income tax returns and preparation of K-1s.
- Managed and responded to investor queries in relation to their investments in the firm and frequently generate and publish investor reporting to keep them abreast of the financial performance of the assets.
- Supervised accurate, efficient, and compliant completion of monthly financial, management and investor reporting packages.
- Used Yardi Voyager and Juniper Square to update and maintain investor ledgers including capital account and SREOs.
- Oversaw all aspects of monthly financial reporting and relationships with banks.
- Managed outstanding balance amounts by evaluating reports and determining collection statuses.
- Supervised and guided accounting staff which comprised of Accounting Manager (1), Senior Property Accountants (2), Property Accountants (2), Cost Accountant (1) and AP and AR processors (2).
- Completed year-end close processes through effective supervision financial functions and regular treasury transactions.
- Implemented process automation and streamlining to spare and reallocate 30% of accounting resources.
- Reviewed contracts financially impacting company and counseled executive leaders on impact contracts would have on company operations.
Controller/Principal
LightSpeed Technologies LLC
04.2018 - 02.2019
- Managed accounting operations, accounting period closing, financial reporting and reconciliations
- Received, recorded, and banked cash, checks, and vouchers as well as reconciling records of bank transactions.
- Maximized year-end tax benefits by efficiently managing cash flows.
- Reviewed book entries to ensure accuracy of G/L before printing financial reports.
- Reconciled bank statements and researching any discrepancy using accounting software
- Prepared monthly and annual expense forecasts, including any necessary/recommended action required to manage costs to achieve budgetary goals.
- Prepared month end adjusting entries
- Prepared lease amortization tables for leased equipment
- Managed Accounts Receivables and Accounts Payable to make sure over 90 days dues were taken care of.
Senior Property Accountant
Onni Real Estate
06.2017 - 03.2018
- Perform month end A/R and GL closing procedures
- Prepare and review journal entries
- Reconcile balance sheet accounts
- Reconcile bank activity on daily/weekly/monthly basis
- Prepare monthly/quarterly financial statements
- Process and prepare accounts receivable
- Administer tenant files and security deposits in accounting software - Yardi
- Process Move in/Move Outs in accounting software by interpreting new and existing leases
- Complete Security Deposit Accounting for resident move outs in accounting software
- Set up new properties in accounting software
- Monitored accounts payable and accounts receivable functions to accurately gauge organization cash flow.
- Performed electronic banking transactions and completed bank reconciliations to obtain comprehensive picture of organization bank accounts.
- Reviewed numerous financial statements for accuracy and determined compliance with generally accepted accounting principles.
- Analyzed and reported financials for 7 residential properties and 8 commercial properties annually.
- Dealt with tenant invoices, balances and payments for 250 commercial tenants in 8 properties and 1300 units in 7 residential
Senior Property Accountant
The REMM Group
05.2016 - 08.2017
- Responsible for managing 11 Real Estate portfolios which included both multifamily and commercial properties with full cycle accounting in Yardi and MRI.
- Reviewed, approved and forwarded payable to regional property managers for their approval on weekly basis in PayScan (Yardi embedded Payable Module)
- Posted payable, after invoices approved by regional property managers, and submit them to treasury for cutting checks using PayScan
- Reviewed receivables and make necessary adjustments before submitting it to property management. Also, followed up on aged receivables to make sure accounts are collected on time
- Reconciled bank accounts on monthly basis and prepare reconciliation report for management review in conjunction with month end financials Prepare accruals and other adjusting entries before the month-end close to fine-tune the balance sheet, P&L and other financial reports
- Updated fixed asset, leasing commission, prepaid expenses, insurance, property tax and SLR schedules on monthly basis
- Prepared and reviewed financial statements and submit them for management review and approval
Senior Property Accountant
Crown Realty Development
09.2016 - 05.2017
- Reviewed unadjusted trial balance and make necessary adjustments
- Update amortizations and depreciation schedules and book journal entries on monthly basis
- Updated leasing commission schedule and book monthly journal entries
- Entered tenant and non-tenant receipts and application of receipts to corresponding charges on monthly basis
- Reviewed, signed off and send monthly AR Delinquency reports to property manager
- Prepared monthly accruals for properties/entities
- Calculated and book monthly management fee for properties
- Billed other entities for reimbursable costs and follow up on payments
- Reviewed CAM reconciliations prepared by property manager and made necessary changes to make it comply with terms in lease
- Updated month-end close schedules and submitted it to controller for review and approval
- Reconcile bank statements using MRI reconciliation module
- Book inter-company (Due to/Due from) transactions and make monthly reimbursements to payer entities to make sure accounts are clear within entities
- Transferred/wired cash within entities using CashPro, Bank of America's online banking
- Book and post the incoming & outgoing tenant/non-tenant wires
- Review, print and submit quarterly financials to CFO for approval and review
Real Estate Accounting Consultant
CIM Group
11.2015 - 05.2016
- Perform scheduled analysis of general ledger accounts such as cash, clearing, Accounts Payable, Accounts Receivable, Fixed Asset and Payroll accounts to make sure the balances tie out to the subsidiary ledgers
- Prepare and update Fixed Asset schedules for the items that require to be depreciated over the useful life.Follow-up on over 90-day Aged Accounts Receivables and Accounts Payable
- Estimate and record monthly bad debt reserves for the noncollectable AR
- Track and update the Leasing Commission schedules to make sure they are properly depreciated and the LC liability account is current
- Prepare journal entries; perform bank and cash reconciliations; process inter-fund transfers and reconcile Due to/Due from accounts
- Prepare, review and record monthly accruals for the properties to make sure all necessary accruals are recorded and accurate financial reports are prepared
- Perform final review and reconciliation of monthly trial balances for each property to make final adjustments
- I also make sure clearing and suspense accounts are documented and balances cleared within 30 days
- Work with external auditors to answer accounting questions related to the properties and annual fund audit
Director of Accounting/Principal
LightSpeed Technologies LLC
11.2012 - 10.2015
- Supported change management by understanding and addressing impacts of new accounting policies, financial statement initiatives and non-standard transactions.
- Initiated comprehensive account assessments to check viability, stability and profitability of business operations.
- Applied mathematical abilities to calculate and check figures in accounting systems.
- Organized budget documentation and tracked expenses to maintain tight business controls.
- Implemented budget and expense controls and financial policies by analyzing income and expenditures.
- Bolstered revenues by creating codes for accounting tasks, cost estimation and revenue generation.
- Tracked business revenue and expenditures and reconciled accounts to maintain high accuracy.
- Educated accounting team on forecasting, financial statuses and financial strategies to assist in annual budget creation.
Managing Director
DigiCom Computer Trading LLC
01.2008 - 02.2012
- Analyze current policies, processes and procedures to ensure efficiency
- Work with Board of Directors on modeling, economics and P&L of large deals
- Review and document complex sales contracts to ensure revenue compliance with regulations
- Maintain and reconcile General Ledger accounts on a recurring basis; including posting monthly journal entries, providing variance analysis, and investigating and determining potential impacts of different activities on financial statements
- Perform month-end and year-end closing activities
- Managed accounts receivables/collections and accounts payables
- Perform complex financial analysis, identify key trends, and make recommendations to partners of company to improve financial performance of company
Education
Bachelor of Science - Accounting Major
Metropolitan State University
Saint Paul, MN2014
Diploma - Computer Science
BRAINS Degree College
Pakistan12.2001
Skills
- Yardi Administration
- Software System Implementation
- Purchase and Sales Accounting
- Loan Agreements and DSCR Analysis
- Lease Agreement Analysis
- Staff Supervision & Management
- Process Improvement
- Investment/Ownership Accounting
Project Implementations
Procure to Pay (PayScan)
Job Cost Module
Vendor Cafe and Bill Pay System
Month-end Closing Package
Commercial Cafe
Conversion to Accrual
Investor Reporting (Custom Tree)
Timeline
Vice President of Accounting
Starpoint Properties
01.2022 - Current
Corporate Controller
Starpoint Properties LLC
03.2019 - 12.2021
Controller/Principal
LightSpeed Technologies LLC
04.2018 - 02.2019
Senior Property Accountant
Onni Real Estate
06.2017 - 03.2018
Senior Property Accountant
Crown Realty Development
09.2016 - 05.2017
Senior Property Accountant
The REMM Group
05.2016 - 08.2017
Real Estate Accounting Consultant
CIM Group
11.2015 - 05.2016
Director of Accounting/Principal
LightSpeed Technologies LLC
11.2012 - 10.2015
Managing Director
DigiCom Computer Trading LLC
01.2008 - 02.2012
Bachelor of Science - Accounting Major
Metropolitan State University
Diploma - Computer Science
BRAINS Degree College
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