Project Accountant

Project Accountant

The Project Accountant is responsible for managing all financial aspects of projects from inception through completion, ensuring accurate revenue recognition, cost tracking, forecasting, and financial reporting. This role will work closely with Project Managers, Operations, and Finance to support project execution while ensuring compliance with accounting standards and company policies.

The ideal candidate will have strong experience with Percentage of Completion (POC) accounting, project costing, work-in-process (WIP) analysis, revenue recognition, and ERP systems such as Microsoft Dynamics 365 Business Central.

Key Responsibilities

Project Accounting & Revenue Recognition

• Manage accounting for multiple projects across various stages of completion.
• Prepare and maintain project budgets, forecasts, and profitability analyses.
• Perform monthly Percentage of Completion (POC) calculations using cost-to-cost or other approved methodologies.
• Ensure revenue and cost recognition comply with company policy and applicable accounting standards.
• Analyze costs incurred versus forecasted costs and identify project variances.
• Monitor project margins and provide recommendations to improve profitability.

Work-in-Process (WIP) Management

• Prepare monthly WIP schedules and supporting documentation.
• Calculate and reconcile:
  • Costs in excess of billings
  • Billings in excess of costs
  • Retention receivables
  • Construction in progress balances
• Review project status with project managers to validate estimates at completion (EAC) and forecast assumptions.

Financial Reporting & Analysis

• Prepare monthly project financial reports and dashboards.
• Support month-end and year-end closing activities.
• Analyze project performance and communicate financial results to management.
• Provide management with project profitability and cash flow analysis.

ERP System & Process Improvement

• Maintain project data within Microsoft Dynamics 365 Business Central or other ERP systems.
• Support implementation and enhancement of project accounting processes.
• Develop and improve reporting tools, dashboards, and project monitoring controls.
• Ensure accurate integration between project management, operations, and finance processes.

Controls & Compliance

• Ensure adherence to company policies, accounting procedures, and internal controls.
• Support external and internal audit requirements.
• Maintain adequate documentation supporting project accounting entries and revenue recognition calculations.
• Participate in process improvement initiatives to strengthen financial controls and reporting accuracy.

Requirements & Qualifications

• Bachelor's degree in Accounting, Finance, or related field.
• CPA or CMA designation preferred but not required.
• 3+ years of project accounting experience.
• Minimum 2 years of hands-on POC revenue recognition experience.
• Experience in construction, industrial projects, engineering services, manufacturing projects, or similar industries.
• Strong understanding of:
  • Percentage of Completion accounting
  • Work-in-Process (WIP) reporting
  • Job costing
  • Revenue recognition principles
  • Forecasting and project profitability analysis
• Experience with Microsoft Dynamics 365 Business Central, SAP, Oracle, or similar ERP systems.
• Advanced Microsoft Excel skills.
• Experience with Power BI reporting preferred.

Alimak Group offers a great benefits package including company paid life insurance, company short-term and long-term disability, 401k match, and offers medical, dental, vision, voluntary life, and supplemental benefits. Come join our fantastic team!

EOE