Project Accountant at JMG

About the job

• The Project Accountant is responsible for all financial administration and reporting for assigned projects. This includes tracking costs, managing billing, forecasting revenue, and ensuring project profitability. The role acts as a crucial business partner to Project Managers, providing the financial data and analysis needed to make informed decisions and keep projects on budget.

Key Responsibilities:

Project Setup & Cost Tracking:

• Set up new projects in the accounting system (e.g., Sage 300, Viewpoint, QuickBooks for Contractors) with the correct budget, Work Breakdown Structure (WBS), and billing terms.
• Code all project-related costs (labor, materials, equipment, subcontractors, other direct costs) to the correct job and cost code.
• Review and verify accuracy of timesheets charged to projects.
• Process accounts payable invoices, ensuring they are correctly assigned to projects and properly approved.
• Reconcile project-specific credit card statements and expense reports.

Billing & Revenue Recognition:

• Prepare and submit accurate and timely client billings (progress billings, milestone billings, time-and-materials invoices) in accordance with contract terms.
• Manage the accounts receivable for assigned projects, following up on overdue payments and resolving billing disputes.
• Apply cash receipts to the correct projects.
• Calculate and report revenue according to the appropriate accounting method (Percentage-of-Completion is common in this industry).

Financial Reporting & Analysis:

• Generate weekly/monthly project financial reports for Project Managers and management, including:
• Job Cost Reports
• Budget vs. Actual (Cost-to-Completion) Reports
• Gross Margin Analysis
• Project Profitability Statements
• Assist Project Managers in preparing project forecasts and Estimates-To-Complete (ETC).
• Analyze project performance and identify potential financial risks and opportunities (e.g., cost overruns, change orders, underbillings/overbillings).

Project Close-Out & Compliance:

• Manage the financial close-out process for completed projects, ensuring all costs are captured, final billings are issued, and retention is collected.
• Prepare final project profitability analysis and report on lessons learned.
• Ensure compliance with company policies, contract terms, and relevant accounting standards.
• Assist with internal and external audits by providing project documentation and explanations.

Administrative Support:

• Maintain organized and auditable financial records for each project.
• Support the procurement team with purchase order tracking and reconciliation.
• Process and track change orders, ensuring they are properly approved and reflected in project budgets and billings.

Qualifications and Experience:

Required:

• Education: Bachelor’s degree in Accounting, Finance, or a related field.
• Experience: Minimum of 3-5 years of accounting experience, with at least 2 years in a project accounting role, preferably within the construction, engineering, or electromechanical industries.

Technical Skills:

• Proficiency with accounting software (e.g., QuickBooks, SAP, Oracle) and strong advanced Excel skills (PivotTables, VLOOKUPs, complex formulas).
• Solid understanding of job costing principles and revenue recognition methods (especially Percentage-of-Completion).
• Industry Knowledge: Familiarity with standard contract types in construction (Lump Sum, Cost-Plus, T&M) and billing processes (AIA progress billing forms).

Key Competencies and Soft Skills:

• Analytical & Problem-Solving Skills: Ability to dissect financial data, identify trends, and pinpoint discrepancies.
• Attention to Detail: Extreme accuracy is non-negotiable when tracking costs and preparing billings.
• Communication Skills: Ability to communicate complex financial information clearly and effectively to non-financial colleagues like Project Managers and Engineers.
• Organizational & Time Management Skills: Must be able to juggle multiple projects and deadlines simultaneously in a fast-paced environment.
• Proactive & Inquisitive: Doesn't just record data; investigates variances and asks questions to understand the "why" behind the numbers.
• Collaboration: A true team player who works effectively with cross-functional teams to achieve project goals.
• Integrity: Handles sensitive financial information with the highest degree of ethics.