Project Accountant I

Farnsworth Group•Peoria, IL

6d•$55,000 - $81,000

About The Position

Farnsworth Group is seeking a Project Accountant to work closely with the Project Accounting Manager and Project Managers to support smooth project execution and financial control. The role covers project billing and revenue, project financial management, reporting and analysis, and compliance and documentation. Responsibilities include preparing and reviewing client invoices, monitoring receivables, supporting revenue recognition and work-in-progress reporting, tracking budgets and costs, and assisting with financial close activities. The Project Accountant also helps maintain accurate project records and ERP data, supports audit and contract-compliance requests, and maintains client-related documentation and accounting-policy implementation.

Requirements

Bachelor’s degree in Accounting, Finance, or a related field.
3–8 years of progressive accounting experience.
Strong billing and general ledger accounting skills.
Experience with Microsoft 365.
Strong attention to detail and organizational skills.
Effective written and verbal communication skills.
Ability to manage multiple priorities in a deadline-driven environment.

Nice To Haves

Excel skills.
Architecture/Engineering industry experience.
Deltek Vision or VantagePoint experience.
Experience with project-based billing.

Responsibilities

Prepare and process client invoices according to contract terms, including lump sum, time and materials, cost-plus, and unit-price arrangements.
Review draft invoices for accuracy, completeness, and contract compliance before submission.
Monitor accounts receivable and follow up on outstanding invoices.
Support month-end revenue recognition and work-in-progress reporting.
Review project-related expenses and payables.
Assist with maintaining accurate project budgets and cost tracking.
Help Project Managers monitor financial performance against budgets, including EAC and ETC.
Identify and communicate budget variances, overruns, and billing discrepancies to Project Managers.
Generate standard and ad hoc project financial reports for the Project Accounting Manager and Project Managers.
Assist with month-end and year-end close activities related to project accounts.
Support preparation of project financial data for audits, client requests, and contract-compliance purposes.
Ensure project setups and modifications are processed accurately in the ERP system.
Maintain organized project financial records and documentation.
Create or review new client records as appropriate.
Maintain client-related documentation, including MSAs, and ensure implementation and execution of project accounting and revenue policies.