Project Accountant

The project accountant is responsible for handling project billings, client questions and inquiries. They provide financial administration support for complex cost plus and IPD projects, ensuring accuracy of accounting functions, controls and reports.

Roles and responsibilities

• Review contracts and attend project startup meetings to gain a thorough understanding of the billing setup on the project
• Set up project billing templates in accordance with the contract to ensure that all recoverable costs are accurately captured within the billing
• Prepare monthly project billings and meet with the Project Manager to review issues identified
• Prepare billing audits on cost plus projects to ensure costs are accurately captured
• Identify areas of the billing which can be used to maximize recoverable allowances
• Complete job cost adjustments as needed to correct billing issues and align with contract requirements
• Follow up on overdue billings bringing to the attention of the Project Director and working with them to prepare interest invoices as needed
• Track builders’ lien rights on projects ensuring the period does not pass prior to payment being received, escalate as needed to the District Manager and Controller
• Ensure project compliance with Prompt Payment legislation, coordinating with the Project Manager and Accounts Payable team to ensure all subtrades are paid on time
• Manage pay when paid payment terms by directing the Accounts Payable team to make subcontractor payments, upon receipt of payment from the customer
• Work closely with the Accounts Payable team to ensure costs are entered and approved in a timely manner
• Oversee all subcontractor invoices, ensuring compliance to contract terms and conditions
• Manage financial risk by overseeing the payment controls of subcontract payments (WCB, insurance, contracts, bonds, pay when/if paid terms).
• Oversee the preparation of weekly payment files for processing
• Prepare monthly accruals, reviewing invoices with Project Managers for accuracy and following up on changes that are needed
• Oversee managing all trade discounts to ensure they are processed accurately and in a timely manner
• Ability to mentor members on the billing and AP teams and be the main resource for the billing team with complex IPD and CM projects
• Review cost report and monthly project status report for accuracy and identify large discrepancies in budget v. actuals ahead of forecasting and assist project team with forecasting prep
• Monitor and ensure compliance with Chandos processes/policies.
• Travel to site for or attend virtual big room meetings with clients and partners
• Assist with the setup of JV projects
• Perform other duties as requested by the Accounts Receivable Supervisor.