Project Accountant

Job Description

The Project Accountant is responsible for managing the financial aspects of construction projects, ensuring accuracy, compliance, and efficiency in all financial processes. This role involves working closely with project managers and other departments to ensure projects are completed on budget and in compliance with company policies and industry regulations. The ideal candidate will have a strong understanding of construction accounting practices and be skilled in budget management and financial reporting.

Key Responsibilities:

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• Oversee and manage all financial aspects of assigned construction projects, including job costing, budget tracking, and variance analysis.
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• Maintain detailed project budgets and ensure costs are properly allocated and tracked.
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• Prepare and present financial reports for project managers, highlighting budget performance and areas of concern.
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• Review and process project-related invoices, ensuring proper approval and coding.
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• Prepare and issue progress billings to clients, ensuring timely and accurate submissions.
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• Monitor accounts receivable for assigned projects and work with clients to resolve any billing issues or delays in payment.
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• Track and analyze job costs, comparing them to the project budget and identifying any variances.
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• Collaborate with project managers to forecast project costs and update budgets as necessary.
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• Ensure that project costs are recorded accurately and in a timely manner.
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• Review and manage project contracts, subcontracts, and change orders to ensure financial terms are followed and documented.
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• Track all change orders and update project budgets accordingly.
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• Communicate contract and financial terms to project teams and ensure compliance.
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• Monitor project cash flows and forecast future financial needs.
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• Ensure that funds are available to meet project obligations, including vendor and subcontractor payments.
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• Ensure compliance with all company policies, GAAP, and relevant industry regulations.
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• Assist with audits and provide necessary documentation to external auditors as required.
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• Identify and mitigate financial risks associated with projects.
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• Act as a financial resource for project teams, providing guidance and support on budget and cost management.
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• Work closely with project managers, subcontractors, and clients to address financial questions and concerns.
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• Communicate project financial status and updates to senior management as needed.
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• Continuously seek ways to improve accounting processes and systems for greater efficiency and accuracy.
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• Implement best practices in construction accounting and share knowledge with the finance and project management teams.
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Qualifications

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• :Bachelor’s degree in Accounting, Finance, or related field
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• .3+ years of accounting experience, with at least 2 years in the construction industry
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• .Familiarity with construction accounting software (e.g., Sage 300, Viewpoint, or Procore) is highly desirable.
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.Skills

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• :In-depth knowledge of GAAP and construction-specific accounting practices
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• .Proficient in Microsoft Office Suite, particularly Excel
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• .Excellent analytical and problem-solving skills with high attention to detail
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• .Strong organizational and time management abilities
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• .Effective communication and interpersonal skills, with the ability to work collaboratively with project teams
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• .Ability to prioritize tasks and work in a fast-paced environment
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