Project Accountant

Kelso Industries•Middlesex, NJ

10d•$95,000 - $125,000

About The Position

The Project Accountant is a key member of Kelso Industries’ finance team, maintaining accurate financial records across active HVAC, plumbing, and electrical construction projects. The role applies percentage-of-completion (POC) accounting to recognize revenue, costs, and gross margin in accordance with GAAP and company policy. Working closely with project managers, field supervisors, and business finance personnel, the Project Accountant prepares reliable Work-in-Process (WIP) reports, identifies financial risks, and supports project financial management from contract award through final closeout. The position also manages project job costs, billings, contract administration, financial reporting, and audit documentation. It serves as the primary contact for external auditors, conducts pre-audit reviews, maintains audit-ready workpapers, and helps improve accounting workflows, 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 percentage-of-completion method in compliance with ASC 606 and internal policies.
Work with project managers to obtain accurate estimates-to-complete and ensure projections reflect current field conditions.
Identify and escalate margin fade, cost overruns, and scope changes affecting percentage-of-completion 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 at-risk contracts, 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 progress billings, time-and-material 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 end-to-end as the primary point of 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 to keep audits on schedule with minimal disruption to operations.
Conduct internal pre-audit reviews of project financials, WIP schedules, and job cost reports; identify and remediate potential issues before external audit fieldwork.
Maintain thorough audit-ready workpapers and documentation throughout the year, 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 increase efficiency, accuracy, and reporting timeliness.
Evaluate accounting procedures and controls, recommend enhancements, and lead implementation of best practices across the project accounting function.