Project Accountant

Job Description

The Project Accountant (PA) is responsible for accurately recording and processing the financial transactions of assigned projects for RSVC Company. This includes daily tasks such as accounting for costs in the correct cost code (job costing), preparation of client pay applications, commitment accounting including lien release management, and payment processing to subcontractors and vendors. This individual will maintain project-related accounting records, ensuring accuracy and compliance to company accounting policy and procedures. The Project Accountant will operate as a self-starter and will proactively address financial issues and provide detailed and timely reports to project managers and management. Additionally, they will oversee budget accounting accuracy, track and record expenses, and ensure timely billing and collections. The Project Accountant role is crucial as it ensures the financial health and success of each project, while also supporting overall financial planning and analysis for RSVC Company. The project accountant records and reports the financial activity of a project to support the needs of the accounting department, construction division, and project level needs. They support the Project Manager, who is the lead manager for the project and liaison to the client. The Project Accountant will maintain the highest level of professionalism and ethics in the performance of their job duty, and cooperate and contribute to the accounting team and project teams that they support.

ESSENTIAL FUNCTIONS / RESPONSIBILITIES :

• Project setup in the accounting system : Including Contract, Schedule of Values, Budgets, and general contract review (Customer info, retention, payment terms, billing requirements, verifying contract type…)
• Maintain project-related records, including change orders, preliminary notices
• Assignment of job costs by cost codes
• Authorize the transfer of expenses into and out of project-related accounts
• Enter and route for approval subcontract invoices related to a project
• Respond to requests for more detail from subcontractors
• Process subcontractor payouts
• Maintain all project monthly Unconditional & Conditional lien releases for Suppliers and Subcontractors and maintains tracker
• Oversee collections on all project billings, and maintains billing per contract
• Report to management on any opportunities for additional billings
• Credit Card expense and coding entry
• Create and processing all project-related billings to customers
• Investigate all project expenses not billed to customers
• Respond to requests for more detail from customers
• Approve the write-off of any project-related billings that cannot be billed to or collected from customers
• Close out project accounts upon project completion
• Reconcile all Prime Contracts with Project Manager to include any approved and pending change orders to client.
• Reconcile all Subcontracts and commitments with vendors to ensure final contract amount includes all change orders and that amounts balance with final lien releases.
• Track and oversee all project Notice of Completion timelines to protect lien rights
• Compile information for internal and external auditors, as required
• In conjunction with pm, maximize positive cash flow on job within contractual terms

EDUCATION AND EXPERIENCE REQUIREMENTS :

5 years experience with a commercial construction company in accounting related role.

Understand the aspects of job costing and commercial construction.

General Ledger accounting and experience.

KNOWLEDGE, SKILLS, AND ABILITIES REQUIRED :

Proficient in job costing and financial analysis

Strong understanding of construction accounting principles

Ability to manage client pay applications efficiently

Skilled in subcontractor accounting and payment processing

Experience with budget management and expense tracking

Knowledge of lien releases and compliance requirements

Excellent record-keeping and documentation skills

Proficient in accounting software and ERP systems

Strong analytical and problem-solving abilities

Effective communication and interpersonal skills

Ability to perform independently and as a part of a team

Detail-oriented with strong organizational skills

Ability to meet deadlines and manage multiple tasks

Proactive in identifying and resolving financial issues

Understanding of financial reporting and forecasting

PHYSICAL REQUIREMENTS :

Ability to lift and carry up to 25 pounds occasionally

Frequent bending, stooping, and reaching to access documents and other office items

Occasional pushing and pulling of general office items

Prolonged periods of sitting at a desk and working on a computer

Regular use of hands and fingers for typing and handling documents

Ability to stand and walk for short periods of time during meetings and site visits

Frequent reading of documents and computer screens, requiring good vision

Extended screen time, necessitating regular breaks to prevent eye strain

Ability to communicate clearly and effectively, both verbally and in writing

Occasional travel to project sites, requiring ability to drive

Work In Office

IT REQUIREMENTS :

General knowledge and understanding of Microsoft Office Technology

Teams / SharePoint / Outlook for Email / Word / Excel / PowerPoint

Procore

Cloud based ERP systems with comprehensive accounting tools

General ability to utilize cellular phone / iPad or Tablet / Laptop for Work Purposes