Accounting and Contract Billing & Compliance Specialist

Job Description

Job Description

Description:

Position Summary

The Accounting/Contract Billing & Compliance Specialist is responsible for managing contract billing, ensuring regulatory compliance, and supporting financial operations in accordance with federal, state, and client-specific requirements. This role plays a critical function in maintaining accurate invoicing, supporting audits, and ensuring adherence to contract terms, cost principles, and internal controls.

Contract Billing & Revenue Management

• Oversight to ensure invoices are prepared, reviewed, and submitted inaccordance with contract terms (FFP, T&M, LH, Cost-Reimbursable)
• Ensure billing aligns with contract funding, CLIN structures, and period of performance
• Track billed vs. funded amounts and monitor burn rates
• Reconcile billed amounts to general ledger and supporting documentation

Compliance & Regulatory Oversight

• Ensure compliance with FAR, DFARS, and agency-specific requirements
• Apply cost principles under FAR Part 31 (allowable, allocable, reasonable costs)
• Review labor, subcontractor, and ODC charges for compliance prior to billing
• Maintain audit-ready documentation (timekeeping, payroll, invoices, receipts)
• Support DCAA/DCMA audits and client financial reviews
• Monitor contract types for proper billing treatment (FFP vs LH vs T&M)

Accounting & Financial Operations

• Record journal entries related to contract revenue, labor distribution, and accruals
• Support month-end and year-end close processes
• Assist in indirect rate tracking (G&A, fringe, overhead)
• Ensure alignment between accounting system and billing system

Labor & Timekeeping Validation

• Validate employee and subcontractor time for accuracy and compliance
• Ensure labor categories, rates, and hours align with contract terms
• Identify and resolve discrepancies in labor charging and billing

Subcontractor & Vendor Oversight

• Review subcontractor invoices for accuracy and compliance
• Ensure proper flow-down of contract terms (rates, ceilings, billing requirements)
• Track subcontractor funding and invoicing status
• Coordinate approvals and documentation prior to payment

Audit & Internal Controls

• Maintain strong internal controls over billing and revenue recognition
• Support internal audits and compliance reviews
• Assist in preparing audit responses and documentation
• Identify risk areas and recommend process improvements

Reporting & Analysis

• Generate contract-level financial reports (revenue, costs, margin, burn rate)
• Support program managers with financial insights and forecasts
• Track key metrics: utilization, backlog, funding status
• Assist in financial reporting for leadership and external stakeholders

Qualifications

Education

Bachelor’s degree in Accounting, Finance, Business, or related field

Experience

3–7+ years of experience in government contracting accounting/billing

Experience with contract types: FFP, T&M, LH, Cost-Reimbursable

Familiarity with federal/state contracting environments

Key Skills

• Strong attention to detail and accuracy
• Analytical and problem-solving mindset
• Ability to interpret contract language and billing terms
• Strong organizational and documentation skills
• Ability to manage multiple contracts and deadlines
• Effective communication with finance, contracts, and program teams

Preferred Qualifications

• Experience supporting DCAA audits
• Knowledge of indirect rate structures and provisional billing rates
• Familiarity with WAWF, IPP, or state billing systems

Contract management, subcontract management, contract oversight, billing, audit, budget, internal controls