Project Accountant

  • Streamline
  • Philadelphia
  • Mar 10, 2022
Full time Accounting

Job Description

The Project Accountant is responsible for ensuring accurate accounting of the company’s real estate projects from acquisition to completion of construction, completing monthly budgeting and job cost reporting and analysis, preparing and submitting payment applications to lenders, and supporting Project Managers and Asset Managers to meet project financial targets.  Responsibilities also include project set up and management activities as well as balance sheet account reconciliations. Specific job duties can vary depending on the project(s) assigned. In all tasks, the Project Accountant must keep accurate financial records and resolve any discrepancies as they arise.

The ideal candidate will lead by example in a fast-paced, strong work ethic environment, maintain personal accountability & self-drive, communicate assertively and constructively with team members.

 

PRIMARY ROLES AND RESPONSIBILITIES

  • Gatekeeper for all company real estate project budgets, ensuring proper tracking of all booked, committed & forecasted job costs
  • Create capital jobs in the financial reporting system
  • Under general guidance, collect, validate & track construction Work In Progress billings for cost measurement and analysis
  • Identify critical paths or activities within a project budget, including forecast delays, cost to complete variances, etc., to communicate with appropriate corrective action parties
  • Partner with Project Managers and Asset Managers to ensure timely approval of invoices, work orders, purchase orders, submission of capital labor, preparation of accruals and job completion notification
  • Key liaison with financial lending institutions to ensure appropriate & timely draws and inspections for funding Work In Progress
  • Process subcontractor and owner Change Orders
  • New asset set up, transfers and retirement
  • Review of capital budget revisions
  • Daily review of capital PO and contract submissions for proper coding and compliance with company capitalization policies
  • Monthly reconciliations of assigned balance sheet accounts
  • Preparation and posting of internal capital labor, capitalized interest, open PO and unreported IR accruals and any ad-hoc entries as needed
  • Monthly and quarterly variance reviews and project analysis and reporting
  • Audit support (internal and external)
  • Other duties as assigned

 

 

 

POSITION REQUIREMENTS

  • Ability to master Streamline systems & procedures
  • Must have extensive knowledge of Excel and its capabilities (i.e. Pivot tables, VLOOKUP, etc.)
  • Persistent work ethic and consistent commitment to operational excellence
  • Must possess professional oral and written communication skills as well as the ability to work in a collaborative manner with personnel both inside and outside the Accounting organization
  • At least 5 years of Accounting experience and a solid base understanding of US GAAP
  • Ability to prioritize multiple tasks and be comfortable working within a fast-paced environment
  • Previous experience with construction accounting required
  • Experience with FAS fixed asset sub-ledger is a plus
  • Education: A bachelor's degree in accounting is required
  • Physical and mental requirements: The flexibility to work extended hours, especially towards month and year end.