Accountant - Construction

Position Summary

The Project Accountant is responsible for the financial tracking, reporting, and analysis of construction projects, focusing on ensuring accurate job costing, revenue recognition, and financial controls. This role supports project managers and senior leadership by delivering timely financial insights that enhance project profitability and operational decision-making.

Key Responsibilities

1. Project Financial Management

• Prepare, maintain, and review job cost reports for projects, ensuring accuracy and completeness.
• Track labor, materials, equipment, subcontractor costs, and overhead allocation to specific projects (if required).
• Monitor project budgets vs. actuals; identify variances and escalate issues to management:
• Confirm all milestones are fully completed with Project managers
• Prepare and Submit Owner draw Package
• Ensure owner disbursements align with completed milestones by reviewing all draw requests and disbursement activity for accuracy and compliance
• Verify compliance with financial and contractual regulations
• Assist in developing and maintaining cost-to-complete estimates throughout project lifecycle.
• Ensure proper classification and coding of all project transactions.

2. Billing & Revenue Recognition

• Prepare project billings in accordance with contract terms (progress billing, milestone billing, retainage).
• Review and reconcile contracts, change orders, and approved extras prior to billing.
• Coordinate with project managers and estimators to confirm milestone completion and billing accuracy.
• Recognize revenue based on percentage of completion or other acceptable methods following accounting standards.

3. Accounts Receivable & Collections

• Monitor accounts receivable related to project invoices; follow up on past-due balances:

• • Track and collect receivables to ensure timely cash inflow and accurately post and verify all customer payments

• Work with project managers and clients to resolve billing disputes:

• • Reconcile the AR ledger, resolve discrepancies
  • Review aging to identify overdue accounts, drive collection efforts, and coordinate with accounting manager on receivable status and collection strategies
• Process all AR transactions and approve necessary adjustments or write-offs
• Ensure timely submission of lien waivers and conditional releases as required

4. Accounts Payable & Cash Disbursements

• Review project vendor and subcontractor invoices for accuracy, completeness, and proper coding
• Assist with approval workflow and ensure timely payment while managing project cash flow
• Prepare and process subcontractor lien waivers and compliance documentation
• Reconcile subcontractor and supplier balances as needed
• Reconcile AP balances to vendor statements after month-end

5. Reporting & Analysis

• Produce timely and accurate project financial reports (weekly and monthly) for internal stakeholders
• Provide forecasts of project costs and profit margins, flagging risks or opportunities
• Assist in preparation of monthly financial packages including variance analysis for management
• Support executive team with ad-hoc financial analysis and scenario modeling

Requirements

• 5+ years of accounting experience within the construction industry
• Thorough knowledge of QuickBooks Online
• AIA Billing Expertise: Proficiency in preparing and managing AIA G702 and G703 progress billings, including schedule of values maintenance.
• Lien Waiver Management: Experience managing conditional and unconditional lien waivers for subcontractors and vendors.
• Job Costing: Ability to allocate and track direct labor, materials, and equipment costs against specific project codes.
• WIP Reporting: Experience generating and interpreting Work-In-Progress (WIP) reports to assess project over/under billings.

$60,000 - $75,000 a year

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