Project Accountant

Supreme HVAC•Middlesex, NJ

10d•$95,000 - $125,000

About The Position

The Project Accountant is a member of the finance team responsible for maintaining accurate financial records across active construction projects in HVAC, plumbing, and electrical trades. The role applies percentage-of-completion (POC) accounting to recognize revenue, costs, and gross margin in accordance with GAAP and company policy. Working with project managers, field supervisors, and business finance personnel, the Project Accountant produces timely Work-in-Process (WIP) reports, identifies financial risks, and supports project financial management from contract award through final closeout. The position also manages project accounting activities including job setup and cost tracking, billings and contract administration, accounts receivable monitoring, subcontractor pay applications, financial reporting, audit support, and process improvements. The Project Accountant manages external audits as a primary point of contact, maintains audit-ready documentation, and helps improve accounting procedures and controls.

Requirements

Bachelor's degree in Accounting, Finance, or a related field.
Minimum 7–10 years of project accounting experience in the construction, mechanical, or specialty trade contracting industry.
Hands-on experience with percentage-of-completion accounting and WIP schedule preparation.
Strong working knowledge of GAAP as applied to long-term construction contracts (ASC 606).
Proficiency with construction accounting software such as Sage 300 CRE, Viewpoint Vista, Foundation, Spectrum, or similar.
Advanced Microsoft Excel skills, including pivot tables, VLOOKUP/XLOOKUP, and financial modeling.
Exceptional attention to detail and ability to manage multiple projects simultaneously under deadline pressure.
Effective written and verbal communication skills, including comfort presenting financial data to non-financial stakeholders.

Nice To Haves

Experience in HVAC, plumbing, electrical, or mechanical contracting.
Familiarity with AIA billing documents, lien waivers, and subcontract administration.
CPA or CPA candidate designation.
Experience supporting surety bonding and external financial audits.
Experience with NetSuite ERP.

Responsibilities

Calculate and record monthly revenue recognition using the cost-to-cost POC method in compliance with ASC 606 and internal policies.
Collaborate with project managers to obtain accurate estimates-to-complete and ensure projections reflect current field conditions.
Identify and escalate projects with margin fade, cost overruns, or scope changes affecting POC calculations.
Prepare and post monthly journal entries for over/under billings, revenue accruals, and job cost adjustments.
Prepare, review, and distribute monthly WIP schedules for active projects across HVAC, plumbing, and electrical divisions.
Reconcile WIP balances to the general ledger and resolve discrepancies.
Analyze overbilled and underbilled positions, flag contracts at risk, and communicate findings to project and operations leadership.
Maintain historical WIP data for trend analysis and forecasting.
Set up new jobs in the accounting system, including cost codes, contract values, and budget structures.
Process and code subcontractor invoices, material purchases, equipment charges, and labor allocations to the correct job and cost phase.
Review time sheets and payroll allocations to ensure labor costs are accurately captured at the project level.
Monitor committed costs and purchase orders against approved budgets and alert project managers to variances.
Prepare and submit AIA-format (G702/G703) progress billings, T&M billings, and lump-sum applications for payment.
Track contract values, approved and pending change orders, and claim items; maintain current contract logs.
Monitor accounts receivable for assigned projects, follow up on outstanding invoices, and coordinate collections with project managers.
Review and process subcontractor pay applications, including lien waiver collection and conditional/unconditional tracking.
Assist with monthly, quarterly, and annual financial statements and management reports.
Provide project-level gross margin analysis and variance explanations to operations and senior leadership.
Support year-end audits and bonding/surety requests by preparing project schedules, WIP documentation, and supporting workpapers.
Manage the external audit process as the primary auditor contact, coordinating timely preparation and delivery of requested schedules, reconciliations, and supporting documentation.
Address external auditor inquiries, clarify accounting positions, and resolve open items efficiently.
Conduct internal pre-audit reviews of project financials, WIP schedules, and job cost reports to identify and remediate potential issues before external audit fieldwork.
Maintain thorough audit-ready workpapers and documentation, ensuring project accounting entries are supported and traceable.
Develop ad hoc financial analyses and dashboards as requested by management.
Proactively identify accounting workflow bottlenecks and drive process improvements to improve efficiency, accuracy, and reporting timeliness.
Evaluate accounting procedures and controls, recommend enhancements, and lead implementation of best practices across project accounting.