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Position: Project Staff Accountant

Department: Admin & Accounting

Job Type: Full Time, Exempt

Benefits (FTE): PTO, Medical, Dental, Vision and 401k

The Project Staff Accountant plays a crucial role in the financial management of construction projects, particularly in a construction company with an annual revenue of $50 million. The position bridges the gap between project management and accounting, ensuring that all financial aspects of projects are accurately monitored, recorded, and reported. Project Staff Accountants are tasked with enhancing the profitability and financial integrity of projects through diligent oversight, compliance, and proactive financial analysis.

The Project Staff Accountant is responsible for overseeing the financial aspects of assigned construction projects from start to finish. This includes budgeting, cost tracking, contract compliance, invoicing, reporting, and collaboration with various internal and external stakeholders. The individual contributes to project success by enabling project managers and executives to make informed decisions based on accurate and timely financial data.

Key Responsibilities:

+ Project Cost Management:

+ Monitor, analyze, and report on project costs to ensure alignment with approved budgets and forecasts.

+ Track all project expenditures, including labor, materials, equipment, subcontractor costs, and change orders.

+ Update cost-to-complete and cost-at-completion projections as projects progress.

Budgeting and Forecasting:

+ Collaborate with project managers in the preparation, review, and revision of project budgets.

+ Develop and maintain detailed project cash flow forecasts.

+ Participate in monthly and quarterly financial reviews to assess budget adherence and identify variances.

Contract Administration:

+ Ensure all financial obligations of contracts, including billing and payment terms, are met and properly documented.

+ Review, code, and process subcontractor and supplier invoices to ensure compliance and accuracy.

+ Assist with management of contract change orders, ensuring proper documentation and budget adjustments.

Billing and Revenue Recognition:

+ Prepare and submit timely and accurate progress billings to clients in accordance with contract requirements.

+ Reconcile billed amounts with actual project performance and cash receipts.

+ Coordinate with project managers to resolve any discrepancies or disputed billings.

Financial Reporting:

+ Generate regular financial reports for project stakeholders, including project status, cost-to-complete, variance analysis, and profitability assessments.

+ Provide ad hoc reporting as requested by management.

Compliance and Internal Controls:

+ Ensure adherence to company policies, GAAP, and regulatory requirements.

+ Assist with internal and external audits, providing necessary documentation and explanations.

+ Maintain proper records and documentation for all project financials.

Collaboration and Communication:

+ Work closely with project managers, superintendents, engineers, and the finance team to ensure a unified approach to project delivery.

+ Serve as the primary financial resource for project teams, answering questions and offering guidance on financial procedures and best practices.

+ Accounts Payable and Receivable:

+ Process project-related invoices, ensuring accuracy and proper coding to projects and cost codes.

+ Track and follow up on outstanding receivables, collaborating with clients as necessary to ensure timely payment.

Risk Management:

+ Identify and flag financial risks associated with projects, such as cost overruns, delays, or non-compliance.

+ Collaborate with management to develop and implement mitigation strategies.

Skills & Knowledge:

+ Strong understanding of GAAP, construction project costing, revenue recognition, and contract administration.

+ Advanced Excel skills and experience with financial analysis and reporting.

+ Excellent attention to detail and organizational skills.

+ Strong communication skills, both written and verbal, with the ability to clearly explain complex financial concepts to non-financial team members.

+ Ability to work independently, prioritize responsibilities, and manage multiple projects simultaneously.

+ Commitment to maintaining confidentiality and integrity in handling sensitive financial information.

+ Knowledge of general construction and job costing.

+ Knowledge and experience with AIA billing, lien waivers, WIP reports

+ Strong understanding of US tax regulations.

+ Strong mathematical and analytical skills.

Education and Experience:

+ Bachelor’s degree in Accounting, Finance, Business Administration, or related field (required); CPA or equivalent designation (preferred).

+ 3+ years of accounting experience, preferably in the construction industry or project-based accounting environment.

+ Proficiency with accounting software (such as Sage, Viewpoint, or QuickBooks) and industry-specific project management tools.

+ Strong understanding of GAAP, construction project costing, revenue recognition, and contract administration.

Compensation and Benefits:

+ Base salary

+ Health, dental, and vision insurance

+ Retirement plan options (such as 401(k) with company match)

+ PTO and paid holidays

+ Professional development and continuing education support

+ ESOP