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The Project Accountant will work on site with project management team and do the following:
* Attend project kick-off meeting. Review contracts. Note items concerning financial matters such as billing requirements, change order procedures, reimbursable vs. non-reimbursable costs, allowable mark-ups, fee structure and retainage requirements.
* Obtain the contract GMP and review with Estimating and Project Management to properly assign phase codes and enter original budget into the accounting system
* Set up invoices for client billings, use the industry standard AIA format and client specific formats when warranted.
* Review Owner change order requests, as prepared by project management. Update, and post as required.
* Review and reconcile subcontracts and subcontractor change orders.
* Review subcontractor change order submissions for proper attachments and backup, math errors and check established billing rates. Confirm there are established billing rates for all subs.
* Review all invoices and subcontractor progress payment forms for billing. Check for accuracy, job name, math errors, previous billings and past due balances. Do not process statements for billing, but review all statements to ensure that all invoices have been received.
* Prepare monthly requisition for Project Managers' review. Include all costs for the month including labor, general conditions, subcontractor invoices, insurance and all applicable taxes. Make sure that the current labor rates, as per contract documents, are being used. Check that the insurance and tax rates are current.
* Prepare cost over billings to insure job is being billed properly. Identify job cost items not billed and ensure that these items are included in next month's billing or coded as non-reimbursable. Identify and report any other variances.
* Work with Project Manager to update and balance all cost reports for status reports on a monthly basis. Review budget adjustments before posting. Assist the Project Manager in tracking budget and allowance expenditures.
* Review all invoices, subcontracts and purchase orders to determine if correct sales and use tax is included. If not, calculate the correct tax and prepare monthly summary of sales & use tax that should be charged to the project. Show vendor name, invoice number, invoice date, amount of tax charged, correct tax and difference to be paid.
* Attend monthly accounting staff meetings. Complete all duties in compliance with the month-end schedule.
* Assist Project Manager with closeout procedures. Ensure that all costs have been received, processed and included in the final billing. Check that all applicable waivers have been received. Review all financial reports and provide documentation for final project closeout.
The ideal Project Accountant would have the following:
* Bachelor's Degree in Accounting or related field or an equivalent combination of education, training and/or experience.
* 5+ years' experience in Project Accounting [MUST BE FROM A COMMERCIAL CONSTRUCTION COMPANY OR GC]
* Proficiency with computer applications, including Microsoft Office Suite (Viewpoint/Vista is a plus)
* Effective communicator
* Proven ability to stay on task and meet deadlines without constant supervision.
My client is a leading high end full service construction firm and general contractor who builds all COMMERCIAL asset types.
The Project Accountant - Construction will enjoy a competitive salary and bonus potential along with Medical, Vision and Dental coverage, 401K Match, PTO, Plus Holidays among other benefits.