Project Accountant in Spring Hill, TN at Vaco

Date Posted: 3/16/2023

Job Snapshot

  • Employee Type:
  • Job Type:
  • Experience:
    At least 2 year(s)
  • Date Posted:
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Job Description

The Project Accountant is an integral part of the construction accounting team and will report to the Controller. This position is responsible for day-to-day details of Billings, Invoicing, and Commitment Management while being responsible for all project receivables and payables. The Project Accountant also helps facilitate operational excellence & high performance within the accounting team from both an accounting & operations standpoint.

Essential Functions:

  • Responsible for timely preparation of monthly project pay application packages and retainage requests with appropriate documentation per contract requirements. This includes coordinating with Project Managers on approved monthly subcontractor pay applications, reviewing subcontractor pay applications for accuracy and coding, tracking any known issues with subcontractors or vendors associated with the monthly billing, retainage requests and change orders to protect against any lien risks, claims or disputes.
  • Responsible for tracking project pay application approvals, general ledger posting and submitting to owner/lender for monthly draw submittals.
  • Responsible for tracking payment of project pay applications by owners/lenders and subsequent approvals for subcontractor payments. Provide Accounts Payable with subcontractor payment and invoice approvals for processing.
  • Support Project Managers with subcontractor compliance and payments with regarding to terms and conditions of subcontract including retainage, joint payments, lien waivers, certificates of insurance, and required reporting such as daily reports, as built drawings, and warranty documents.
  • Support Project Managers with managing project budgets, owner change orders, budget modifications, cost management, project close outs and any other additional services such as check requests and employee reimbursements.
  • Assist and participate in the project forecast meetings.
  • Responsible for first level approval of project field invoices and accurate cost coding based on budget estimates. Support and facilitate commitment requirements on large dollar spending.
  • Responsible for ensuring integrity of data between project management and accounting systems, troubleshooting problems to determine root causes, and initiating corrective actions.
  • Support construction and project accounting teams with process improvements by delivering ideas and solutions, improving utilization of system tools and resources, process and procedure documentation, teaching and training to support communication and deliverables.
  • Support project accounting team with project budget and schedule of value setup ensuring project management integration into required systems on new projects.
  • Responsible for maintaining job cost accounting system including data integrity, cost codes and document control.
  • Communicate and interface with project teams, vendors and external parties on company policies and procedures.
  • Assist with resolving lien issues, claims and disputes with subcontractors and vendors.
  • Responsible for construction personnel time tracking and billings to
  • Assist with monthly and year end accounting closings by preparing reconciliations, workpapers and journal entries.

Preferred Experience
  • Sage 300 CRE ERP platform (formerly Timberline)
  • Event 1 Office Connector to Sage
  • Procore Project Management platform
  • Multi-family, high-rise, retail or commercial construction
  • Multi-entity environment
  • Managing and leading others

Education & Experience Requirements:

  • Associates degree in Accounting or Finance
  • Minimum 3 years of accounting and construction experience with relevant experience and understanding of accounting implications of various contract terms related to profitability, project controls, project budgets and cost management, and change order management.
  • Understanding of GAAP related to the construction industry
  • Understanding of accounting processes, project and internal controls
  • Strong proficiency with complex financial systems and applications
  • Excel proficiency