Senior Construction Project Accountant

Cape Fox Shared Services is currently seeking an experienced Senior Construction ProjectAccountant.

The Senior Construction Project Accountant will be detail-oriented with experience in construction accounting. The ideal candidate will be responsible for managing the financial aspects of construction projects, ensuring accurate tracking of revenue, expenses, pay applications, subcontractor invoices, and other financial transactions. The candidate should have a solid understanding of accounting principles, construction industry practices, and be proficient in EVM (Earned Value Management) and EAT (Estimated at Completion) to assess project performance. This role requires someone who can work in a fast-paced environment with multiple projects while maintaining high levels of accuracy and financial oversight.

Essential Functions and Responsibilities

• Revenue & Expense Management:
  
  
  
  • Monitor and track project revenue, ensuring that all revenue is recognized in accordance with applicable accounting standards.
  • Record, classify, and analyze construction-related expenses, including labor, materials, equipment, and subcontractor costs.
  
  
  
  
• Subcontractor Management:
  
  
  
  • Review and verify subcontractor invoices, ensuring accuracy in billing and proper documentation.
  • Track and process subcontractor pay applications, ensuring compliance with contract terms.
  • Ensure timely and accurate payments to subcontractors while adhering to project schedules.
  
  
  
  
• Job Costing & Financial Reporting:
  
  
  
  • Setup and maintain projects in accounting system, maintain labor work force, work with and support client team business needs
  • Maintain detailed job cost records for individual projects, including cost codes, categories, and allocations.
  • Prepare regular financial reports for management, including profit and loss statements and project status reports.
  
  
  
  
• EAT (Estimated at Completion):
  
  
  
  • Prepare and update the EAT (Estimated at Completion) reports for ongoing projects, including forecasts for total costs and expected revenues.
  • Work closely with project managers and key stakeholders to ensure that cost and revenue projections are accurate and reflect the true status of each project.
  • Analyze variances between the original budget, current projections, and actual performance, and provide insights and recommendations for corrective actions.
  
  
  
  
• Accounting Operations:
  
  
  
  • Responsible for the coding and review of accounts payable invoices
  
  
  
  
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  • Prepare and post accurate journal entries for all project-related transactions, ensuring compliance with accounting standards and company policies.
  • Perform monthly bank reconciliations, ensuring all transactions are properly accounted for and discrepancies are resolved.
  • Assist in the month-end close process by preparing journal entries, account reconciliations, and financial reports, ensuring accuracy and timely completion of all tasks.
  
  
  
  
• Billing & Collections:
  
  
  
  • Prepare and submit client invoices in accordance with project contracts and pay schedules.
  • Ensure timely collections of outstanding receivables and coordinate with the project management team to resolve any billing discrepancies.
  • Perform all functions relating to Billing, Cash Receipts, and Accounts Receivable for assigned projects
  
  
  
  
• Compliance & Documentation:
  
  
  
  • Ensure all financial records and transactions are properly documented and compliant with relevant laws, regulations, and company policies.
  • Work with external auditors and internal teams to facilitate audits and compliance checks.
  
  
  
  
• Collaboration & Communication:
  
  
  
  • Work closely with project managers, contractors, and other stakeholders to understand project financials and ensure proper accounting practices.
  • Provide support and assistance to the project management team in understanding financial data and making informed decisions.
  • Prepare and distribute accurate project status reports and supporting schedules in a timely and regular basis
  • May support budgeting, indirect rates, cash flow, borrowing base or other bank related business needs