Service Charge Accountant

Job Title: Service Charge Accountant

Location: Hybrid – 3 days per week in our Norwich Head Office

Rewards & Benefits: £30,000 to £35,000 per annum, depending on skills, knowledge and experience. Benefits include free parking at our Norwich Business Park head office; the Employment Hero reward scheme; five weeks’ holiday; a day off for your birthday; four wellbeing days each year; a special leave scheme; professional development opportunities; an employee assistance programme; wellbeing programmes; and computer equipment to support hybrid working.

About Us:

At Watsons Property Group Ltd, we are a leading Chartered Surveying & Property Management firm working across the UK property market. Established since 1890, we continue to develop and grow our current geographical base and client portfolio.

Our Property Management Division manages more than 10,000 residential units across East Anglia and London, supporting block, estate and lettings portfolios. We build long-term relationships by providing a professional service and continually reviewing and raising our standards. The Service Charge Accountant is responsible for the accurate, timely and transparent financial management of an allocated portfolio of residential blocks, estates and mixed-use developments. The role covers the full service charge accounting cycle, from lease review, budgeting and billing to reconciliations, yearend accounts and financial reporting. Working closely with Property Managers, clients, leaseholders and external accountants, the postholder will safeguard client money, maintain strong financial controls, identify risks early and provide clear financial insight to support sound decisions and positive customer outcomes.

Responsibilities:

• Take day-to-day financial ownership of an allocated portfolio of blocks, estates and mixed-use developments, delivering accurate work to agreed timetables and service standards and coordinating effectively with external accountants.
• Maintain clear property-level records, controls and audit trails. Escalate financial, legal, cashflow or service risks promptly and follow agreed actions through to resolution.
• Interpret leases, transfers, management agreements and relevant client instructions to determine recoverability, apportionments, accounting periods, certification requirements and the permitted treatment of surpluses, deficits and reserve funds.
• Prepare and review annual service charge and estate charge budgets, supported by clear assumptions and commentary and informed by contracts, utilities, insurance, planned maintenance, major works and known cost pressures.
• Prepare cashflow forecasts and contribute to longer-term forecasts, including reserve or sinking fund plans where permitted by the lease. Identify funding gaps, affordability concerns and future cost pressures at an early stage.
• Prepare and check periodic demands for service charges, estate charges, ground rent and other property-related charges within the scope of the role. Ensure amounts, dates, cost centres, apportionments, narrative and supporting information are accurate, up to date and consistent with the lease and current requirements.
• Review utilities, insurance and other supplier costs and complete or check the appropriate recharges to leaseholders. Ensure invoices meet the firm’s payment and procurement controls, with appropriate authorisation, accurate coding, confirmed recoverability and sufficient available funds before posting or payment.
• Monitor income, arrears, commitments and expenditure against budget, providing Property Managers and clients with timely information to support collection activity and cost control.
• Prepare complete, accurate service charge accounts and supporting working papers on an accruals basis, in accordance with the lease, applicable law, current professional guidance and agreed reporting deadlines.
• Reconcile income, expenditure, accruals, prepayments, creditors, debtors and reserve or sinking funds, and ensure that surpluses and deficits are treated in accordance with the lease.
• Safeguard service charge and reserve fund money as trust money, ensuring funds remain ring-fenced, separately identifiable by property and used only for their proper purpose.
• Complete or review client bank, control account and ledger reconciliations to timetable, investigate unreconciled items promptly and maintain evidence of review and approval.
• Provide regular reporting on budget performance, cashflow, arrears, reserve funds and year-end progress, with clear commentary on material variances, risks and recommended actions.
• Respond promptly and knowledgeably to enquiries from clients, leaseholders and colleagues by telephone and email, taking ownership of complex service charge queries through to resolution. Explain financial and lease information clearly to non-finance audiences, while avoiding financial or legal advice outside the scope of the role.

Requirements:

• At least one year’s experience in residential service charge accounting or client finance is essential, together with practical accounting experience. Property sector experience is preferred. The postholder must be able to manage a varied portfolio, balance competing priorities and meet agreed deadlines. Role-specific training will be provided where required.
• Proven experience of preparing service charge budgets, cashflow forecasts, yearend accounts and supporting working papers, with strong knowledge of accruals, prepayments, fund accounting, reconciliations and the treatment of surpluses and deficits.
• Ability to interpret leases and translate their financial provisions into accurate budgets, demands, apportionments and accounts.
• Sound working knowledge of the Landlord and Tenant Act 1985, including service charge information rights, Section 20 consultation and the 18-month rule, together with current RICS residential management and client money requirements.
• Strong spreadsheet skills and confidence using Microsoft 365 applications, particularly Excel, together with experience of property management or finance systems. Experience of MRI Qube, or a comparable system, is required. Experience of mail merge is desirable.

Qualifications and desirable criteria

• A relevant accounting qualification, or active progress towards one, such as AAT Level 4, ACCA or CIMA, is desirable. Equivalent practical experience will also be considered.
• Membership of, or study towards, a relevant property management qualification through The Property Institute or RICS is desirable. Experience of mixed-use developments, estate charges, client reporting or coaching colleagues would also be beneficial.
• Watsons welcomes applications from candidates who can demonstrate the required capability through different combinations of qualifications and relevant experience. Reasonable adjustments will be considered throughout the recruitment process and employment.