Project Accountant – Construction (Formwork)
Position Summary
The Project Accountant is responsible for the financial administration, billing preparation, and
monthly/weekly reporting functions on an assigned restoration project. This role works closely with project
manager, site superintendent, payroll, and client to ensure accurate project cost tracking, timely monthly
progress billings, daily work log reconciliation, and compliance with contractual requirements.
The Project Accountant plays a key role in monitoring labor, equipment, material, and subcontract costs
while ensuring accurate project financial reporting throughout the project lifecycle.
Key Responsibilities
- Project Cost Tracking & Accounting: Track all project costs. Maintain accurate project cost codes and ensure expenses are allocated correctly. Review and reconcile labor, equipment, material, and subcontractor costs. Prepare monthly project cost reports for management. Assist project managers with forecasting project revenues, costs codes, and cash flow.
- Daily Work Log Tracking & Productivity Reporting: Collect, review, and reconcile daily work logs from site supervisors and foremen. Verify labor hours, equipment usage, material deliveries, and production quantities. Maintain accurate records supporting project progress and productivity tracking. Identify discrepancies and follow up with site teams to ensure accurate reporting. Support project managers with labor productivity and earned value analysis.
- Monthly Progress Billings & Contract Administration: Prepare and submit monthly extras based on the various scopes. Compile supporting documentation including daily reports, timesheets, delivery tickets, approved change orders, and progress measurements. Coordinate with project managers and clients to ensure timely approval of billings. Assist project manager in reconciling billed revenue against project progress and earned revenue.
- Change Orders Administration: Maintain logs of extra work and ensure proper supporting documentation is obtained. Assist in preparing pricing and backup documentation for change order submissions.
- Payroll & Timekeeping Support: Review and validate employee timesheets and labor allocations. Ensure labor hours are correctly charged to project cost codes. Coordinate with payroll to resolve discrepancies. Track overtime and labor trends impacting project performance.
- Accounts Payable & Vendor Management: Review vendor and subcontractor invoices for accuracy. Match invoices against purchase orders, receiving documents, and contract terms. Assist with subcontract payment certifications and releases. Maintain records of commitments and pending costs.
Qualifications
Education
- Bachelor's degree or Diploma in Accounting, Finance, Construction Management, or a related field.
Experience
- 0-2 years of construction accounting or project accounting experience.
- Experience with formwork, concrete, civil, or commercial construction projects preferred.
- Experience preparing monthly progress billings and project cost reports.
- Familiarity with construction contracts, holdbacks, retainage, and change orders.
Technical Skills
- Proficiency in Microsoft Excel, including pivot tables, lookups, and financial analysis.
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Position Title: Project Accountant – Construction (Formwork)
Reports To: Project Manager / Operations Manager and Controller