Project accountant

The Project Accountant is responsible for the day-to-day financial management and accounting support of commercial construction projects. This position partners closely with Project Managers, Superintendents, subcontractors, vendors, customers, and the Accounting team to ensure project costs, billings, commitments, and financial information are accurate and up to date. The Project Accountant plays a key role in monitoring project financial performance from project setup through final closeout. This includes job costing, progress billing, accounts receivable, subcontractor and vendor invoice processing, sales and use tax reporting, change order tracking, WIP reporting, reconciliations, and project forecasting.

Essential Duties and Responsibilities

Payroll

• Utilizes basic accounting knowledge to complete assigned tasks
• Prepares and accurately submits weekly payrolls including certified payrolls as appropriate
• Ensures commissions & expense reports are completed accurately & in a timely, efficient manner
• Runs appropriate payroll reports and files them appropriately

Project Accounting & Job Costing

• Set up and maintain project budgets, cost codes, contracts, and other project accounting information.
• Monitor actual costs, committed costs, and budget-to-actual performance for assigned projects.
• Review transactions to ensure costs are accurately coded and allocated to the appropriate project and cost category.
• Reconcile project costs and investigate discrepancies or unusual activity.
• Prepare and maintain project cost reports for Project Managers and management.
• Monitor project financial performance and communicate potential cost overruns or budget concerns.
• Assist with project forecasting and estimated costs to complete.

Construction Billing

• Prepare and process monthly progress billings in accordance with project contracts.
• Prepare AIA billings, schedules of values, and supporting billing documentation as required.
• Track and accurately record retainage.
• Review billing requirements and contract terms to ensure invoices are prepared correctly and submitted on time.
• Process change order billings and ensure approved changes are reflected in project financial records.
• Prepare final billings and assist with project closeout.

Subcontractor & Vendor Accounting

• Review subcontractor and vendor invoices for accuracy, proper project allocation, and required approvals.
• Track subcontract commitments, payments, and retainage.
• Review and maintain lien waivers and other required subcontractor documentation.
• Reconcile subcontractor accounts and resolve discrepancies.
• Work with Project Managers and subcontractors to resolve billing and payment issues.

Accounts Receivable

• Monitor project-related accounts receivable and outstanding balances.
• Follow up on past-due invoices and assist with collection efforts.
• Research and resolve customer billing discrepancies.
• Maintain accurate records of payments, credits, retainage, and outstanding balances.

WIP & Financial Reporting

• Assist with monthly work-in-progress reporting for assigned projects.
• Prepare project financial information including actual costs, billed amounts, earned revenue, projected costs, and estimated gross profit.
• Assist Project Managers with monthly project reviews and financial reporting.
• Identify variances between budgeted and actual project performance.
• Assist with month-end and year-end close processes, including project accruals and reconciliations.
• Provide documentation and support for financial audits as needed.

Project Closeout

• Monitor projects through final completion and financial closeout.
• Ensure all project costs, billings, change orders, retainage, and outstanding items are properly recorded.
• Coordinate final billing and collection of outstanding balances.
• Reconcile project accounts and assist with release of retainage.
• Ensure project accounting records are complete and accurate prior to final closeout.

Qualifications

• Bachelor’s degree in Accounting, Finance, Business, or a related field preferred; equivalent construction accounting experience may be considered.
• 2–5 years of accounting experience, preferably in commercial construction.
• Strong sense of ownership, accountability, and follow-through.
• Experience with construction job costing and project accounting.
• Experience with progress billing, AIA billing, retainage, and change order management preferred.
• Familiarity with construction contracts, subcontractor billing, lien waivers, and project documentation.
• Working knowledge of accounting principles and financial reporting.
• Strong Microsoft Excel skills.
• Experience with construction accounting or ERP software preferred.
• Strong attention to detail and accuracy.
• Ability to analyze financial information and identify discrepancies or potential issues.
• Strong organizational and time-management skills with the ability to manage multiple projects and deadlines.
• Ability to communicate effectively with Project Managers, subcontractors, vendors, customers, and internal accounting personnel.

Core Competencies

• Construction Job Cost Accounting
• Project Financial Management
• Progress Billing & AIA Billing
• WIP Reporting
• Budget & Cost Analysis
• Accounts Receivable
• Subcontractor Accounting
• Financial Reconciliation
• Attention to Detail
• Organization & Time Management
• Problem Solving
• Communication & Collaboration

Preferred Experience

Preference may be given to candidates with experience in:

• Commercial general contracting
• Construction job-cost accounting
• Percentage-of-completion accounting
• AIA billing and construction pay applications
• Construction ERP/accounting systems
• Acumatica or similar accounting systems
• Subcontractor compliance and lien waiver processes
• Project forecasting and estimated-cost-to-complete reporting