Project Accountant

Job Description

Job Description

Project Accountant

Type: Full-Time, W2

Location: Oakland, CA (on-site)

Salary: $100K–$140K DOE

About the Role

Innovation Consulting is hiring a Project Accountant to join our team on a full-time, on-site placement at one of California’s largest investor-owned utilities in Oakland. You will be embedded within an engineering and construction management team delivering transmission and distribution (T&D) capital projects, including transmission and distribution system upgrades and substation modernization, providing dedicated project accounting support across an active capital project portfolio.

You will own job cost accounting, subcontractor payment processing, and financial reconciliation for active capital projects — working closely with project managers, the project controls team, and the client’s finance organization to ensure the numbers are accurate, current, and defensible.

The ideal candidate brings project accounting experience from an engineering, construction, or utility environment and understands how job cost structures, WBS hierarchies, and project billing work in practice. If you have processed a progress invoice, reconciled a subcontractor pay application, or closed out a capital project in an ERP, this role is built for you.

Key Responsibilities

Job Cost Accounting

•     Maintain job cost records for active capital projects, ensuring accurate coding of labor, materials, subcontractor costs, and indirect charges to correct WBS codes

•     Process and record project cost transactions in the ERP system, including purchase orders, invoices, and accruals

•     Reconcile project cost data between the ERP and project controls cost reports on a monthly basis

•     Support project cost closeout activities including final reconciliation, capitalization entries, and asset transfer

•     Monitor committed costs and open purchase orders, flagging anomalies or coding errors to project managers

Billing & Revenue

•     Prepare and submit client progress invoices in accordance with contract billing terms (time and materials, fixed price, or unit rate)

•     Track billing milestones and ensure invoices are issued on schedule and supported by accurate backup documentation

•     Coordinate with project managers to resolve billing disputes, invoice rejections, or client queries

•     Support revenue recognition entries in accordance with project percentage-of-completion or milestone-based accounting

Subcontractor & Vendor Management

•     Review and process subcontractor pay applications, verifying work-in-place quantities and compliance with contract terms

•     Coordinate with procurement and contracts teams to ensure subcontractor invoices are matched to approved purchase orders

•     Track subcontractor payment status and maintain accounts payable records for project-related obligations

Reporting & Reconciliation

•     Prepare monthly project financial summaries and cost reports for project managers and client distribution

•     Support monthly project reviews by providing accurate cost actuals, accrual estimates, and cash flow data

•     Coordinate with the corporate accounting team on month-end close activities, journal entries, and audit support

Qualifications

Required

•     5+ years of project accounting experience in an engineering, construction, or utility environment

•     Hands-on experience with job cost accounting, WBS-based cost structures, and project billing

•     Proficiency in ERP and project accounting systems; utility and EPC environments commonly use platforms such as SAP, Oracle, Costpoint, and Maximo

•     Experience preparing and processing client invoices under T&M, fixed price, or unit rate contract structures

•     Strong proficiency in Microsoft Excel for cost reconciliation and financial reporting

•     Bachelor’s degree in Accounting, Finance, or a related field

•     Must be able to work full-time on-site in Oakland, California

Preferred

•     Direct experience supporting transmission and distribution (T&D) capital projects, including substation construction or distribution system upgrades

•     Experience at an ENR-ranked engineering or construction management firm

•     CPA license or active CPA candidacy

•     Experience with percentage-of-completion revenue recognition in a project accounting context

•     Familiarity with subcontractor pay application review and lien waiver processing

Compensation & Employment

Employment Type: As a W2 employee of Innovation Consulting, you will be placed on assignment with our client for this engagement.

Salary: $100K–$140K DOE

Contract Duration: Open-ended engagement aligned with project scope; extensions anticipated based on project needs.

Benefits: Comprehensive package including medical, dental, and vision coverage; 401(k) with 100% immediate vesting on all contributions; reimbursement account; and paid time off (PTO). No waiting period — benefits eligibility and all accrual items begin on your first day.

Additional Benefits: Discount program covering memberships, hotels, travel, concerts, electronics, and more. Opportunities for professional development and career growth. Supportive and collaborative work environment.

Location: On-site in Oakland, CA. Relocation required if not a commutable distance from Oakland.

Why Join Us?

At Innovation Consulting LLC, you will be part of a team that believes in building a better world — starting with the people who make it possible. You will play a meaningful role in our commitment to emotional intelligence, efficiency, and innovation, delivering positive outcomes for our clients and the communities we serve.

We foster a diverse and inclusive workplace where every team member feels valued, respected, and empowered to bring their unique perspectives and talents to the table. At IC, you will have real opportunities to grow with a company that values diversity, ethical leadership, and sustainability — making a genuine impact through an innovative and collaborative culture.

Innovation Consulting LLC is an equal opportunity employer and recruiter. We review candidates without regard to race, color, religion, sex, national origin, age, disability, veteran status, sexual orientation, gender identity, or any other protected characteristic.