Lease Accountant

Department: Shared Services Accounting and Finance

Reports to: Shared Services Manager

Job Summary

Position Overview

The Lease Accountant manages and records the company’s financial transactions for real estate and equipment leases. This role ensures compliance with IFRS 16, posts monthly journal entries, reconciles general ledger accounts, reviews lease contracts, and collaborates with legal, operations, and finance teams. The Lease Accountant also provides technical accounting guidance on lease-related matters, including sale-leaseback transactions and analyses of real estate and equipment lease contracts.

Essential Job Functions and Duties

Lease Agreement Analysis: Review and interpret complex commercial leases, amendments, and abstract data to determine proper accounting classification. Responsible for accounting and reporting for leases in accordance with IFRS 16 accounting standards accurately.

Database Maintenance: Maintain lease accounting software system (Lease Query) and interfaces with ERP system to ensure all lease data is recorded and posted properly and timely.

Journal Entries and Reconciliations: Prepare and post monthly rent amortization, accruals, and right-of-use (ROU) asset/liability entries. Reconcile lease liabilities subledger accounts to general ledger accounts. Reconcile various general ledger expense accounts that pertain to lease accounting.

Rent Payments: Review monthly rent payments to ensure rent charges are proper and paid timely. Perform various vendor statement reconciliations for lease vendors to identify rent discrepancies and resolve exceptions in a timely manner.

Ancillary expense accounting: Review monthly ancillary expenses related to lease to ensure expenses are proper and paid timely. Perform various general ledger account reconciliations and analyses of ancillary expenses.

Audits: Prepare audit schedules including footnote disclosure of right-of-use lease obligations and assist external auditors by providing requested documentation and information as requested.

Insurance and Taxes: Support insurance and tax process with lease data (location, lease term, payment amount, etc.).

Close Support: Actively participate in the month-end and year-end closing processes, including posting journals, completing timely monthly reconciliations and performing various analytics.

Business Partnering: Collaborate with internal teams such as procurement, operations, safety and risk management insurance and finance to optimize lease management process and ensure accurate lease information has been provided.

Process Improvement: Identify and support opportunities to standardize and improve lease accounting processes, reduce manual effort, strengthen controls, and improve overall service delivery.

Required Qualifications

• Bachelor’s degree in accounting, finance, or related field.

• Four to six years of general accounting role or lease accounting experience, preferably in a multi-regional and multi-currency organization.

• Strong knowledge of IFRS (or GAAP) as it relates to lease accounting and right-of-use accounting.

• Demonstrated ability to communicate well, both written and verbally, and to work with others across the organization to accomplish the objectives of the role and team.

• Strong attention to detail, ensuring controls are operating effectively and all accounts are reconciled on time each month.

• Experience working under a monthly accounting close timetable and ability to meet deadlines.

• Self-directed professional who takes ownership, demonstrates accountability, and actively pursues continuous learning.

• Continuous improvement mindset with a focus on increasing process efficiency and strengthening internal controls.

• Experience working with ERP or accounting systems such as Oracle, SAP, NetSuite or similar platforms.

• Experience with LeaseQuery, or similar lease accounting software.

• Intermediate to advanced knowledge of MS Office Suite, including use of pivot tables, VLOOKUP, and some advanced functions where necessary.

• Fluency with the Spanish language a plus but not required.

Working within a Shared Service environment provides opportunities to interact with and work across multiple accounting functions and with other teams around the world.

About Boart Longyear

Established in 1890, Boart Longyear is the world’s leading provider of drilling services, drilling equipment, and performance tooling for mining and drilling companies. It also has a substantial presence in aftermarket parts and service, energy, mine de-watering, oil sands exploration, production drilling, and down-hole instrumentation.

Boart Longyear is headquartered in Salt Lake City, Utah, USA. Boart Longyear has operations in United States, Canada, Australia, Chile, Germany, Poland and several countries in Africa.