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Market Revenue Accountant

Company: Cushman & Wakefield
Location: Irvine
Posted on: June 8, 2021

Job Description:

Job Title

Market Revenue Accountant

Job Description Summary

The Market Revenue Accountant will work with the market(s) (e.g. Fee Earners, Brokerage Support, Management), FSC and Corporate Controllership Team and will be responsible for the accounting, billing and collection of commission revenue. He/she will validate that local offices comply with required documentation; ensure that revenue is recognized according to company policy, and commissions are accurately recorded, calculated, and paid.

Job Description

Deal Processing

  • Enter and/or review submitted transactions in Deal Management
  • Review deal documentation for accuracy and completeness
  • Validate calculations
  • Verify Fee Earner splits
  • Expense Management: Review related OTT, OTB and DFC expenses

  • Close transactions in Deal Management system
  • Make deal adjustments as necessary (i.e. PCAs, Net-overrides, etc.)
  • Provides Deal Management consulting to Brokers, Admins, and local/regional Leadership questions related to commissions, required deal documentation, and revenue recognition (i.e. Payment inquiries: Overpayment, underpayment, deductions, transaction detail & account balances)
  • Ensure deals are processed in accordance (both documentation and timing) with the latest accounting standards and regulations
  • ASC 606, revenue recognition compliance
  • Adhering to month-end and year-end deal entry deadlines

  • Liaison between Brokers, Admins, and local/regional Leadership and corporate departments such as Rev Rec Team & Finance
  • Creates and submits justification for issue escalations
  • Creative problem-solving (solutions driven) input for issue improvements

  • Provide system and process enhancement recommendations on deal processing to Finance and Leadership
  • Late deal submission, aging
  • Unapplied Cash
  • International and Multi-Market Transactions

Managing Receivables and Cash Collections

  • Proactively manage and oversee billing and payment due dates
  • Generate and issue commission invoices by preferred method
  • Produce DFC invoices
  • Record and manage contingencies or second half payments
  • Track and apply funds appropriately
  • Process payments received and provide cash application instructions to the FSC

  • Ownership of researching, applying, and documenting all unapplied cash in the system
  • Review outstanding AR against Unapplied Cash
  • Track additional or missing documentation, and clarification of splits
  • Cash application to deal

  • Manage local aging receivables
  • Review receivables with Fee Earners monthly
  • Make recommendations on collection of outstanding receivables, as needed
  • Advance receivables through collection process in accordance to company policies, partnering with Fee Earner and Director of Operations
  • Write-off outstanding receivables with approval from necessary parties and in accordance to bad debt policy

Pipeline Management & Forecasting

  • Update/review pipeline information with new opportunities or closed deals by working with Fee Earners, Brokerage Support and Director of Operations
  • Provide revenue status to Director of Operations and Managing Principal for completion of regular forecasting

Reporting

  • Provide both standard and ad hoc revenue, Fee Earner and transaction reports
  • Administer, develop, and enhance reports to accommodate local needs
  • Effectively communicate reports and analysis to market leadership

Leadership

  • Train new Market Revenue Accountants, Fee Earners and Brokerage Support
  • Share best practices

Projects

  • UAT Testing
  • M&A efforts
  • Participate in additional special projects, where necessary

Cushman & Wakefield provides equal employment opportunity. Discrimination of any type will not be tolerated. Cushman & Wakefield is an Equal Opportunity / Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, sexual orientation, gender identity, disability, protected veteran status or any other characteristic protected by state, federal, or local law.

Keywords: Cushman & Wakefield, Irvine , Market Revenue Accountant, Other , Irvine, California

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