Project Accountant

The Project Accountant is responsible for managing the financial aspects of assigned engineering consulting projects. This includes monitoring project budgets, performance Work-in Progress (WIP) accounting, preparing accurate project-related financial reports, and assisting with the month-end close process. The role ensures that project financials are aligned with company policies, contractual terms, and client expectations. Key Responsibilities : Project Accounting & Financial Monitoring

• Set up new projects in the accounting system in accordance with contracts and budgets.
• Monitor project costs, revenue recognition, and margins throughout the project lifecycle.
• Collaborate with project engineers to ensure accurate time and expense coding, billing and budget tracking.
• Prepare and analyze project performance reports, highlighting key variances and financial risks.
• Review project-related transactions for accuracy and completeness.
• Monitor values of inventory-in-process and expense amounts in accordance with recognized revenue.
• Calculate quarterly updates to blended labor rates for use in both estimating and project job costing.
• Calculate quarterly updates to overhead / burden rates related to projects, including indirect labor and materials and portions of other expenses allocatable to projects. WIP Accounting
• Calculate and maintain monthly WIP schedules in accordance with revenue recognition policies (percentage-of completion or other applicable methods).
• Ensure timely and accurate WIP adjustments and reconciliations.
• Coordinate with project engineers to assess project progress and determine appropriate revenue recognition.
• Monitor unbilled receivables and deferred revenue to ensure proper matching of income and costs.
• Perform monthly backlog calculations based on revenue earned on booked projects
• Verify and finalize monthly bookings report; ensure new projects are added to backlog.
• Assist with monthly reporting relating to backlog and bookings. Month-End Close & Reporting
• Prepare and post journal entries related to project revenues, costs, accruals, and adjustments during month-end close.
• Assist in reconciling general ledger accounts related to projects, WIP, unbilled A / R, and revenue.
• Contribute to monthly financial reporting packages and project-specific financial summaries.
• Support internal and external audits with necessary documentation and schedules. Billing & Invoicing
• Generate timely and accurate client invoices based on contractual terms and project progress.
• Assist in resolving billing issues or discrepancies in coordination with project managers and clients.
• Monitor accounts receivable and support collections efforts for project-related invoices. Qualifications :
• Bachelor's degree in Accounting, Finance, or related field.
• 3+ years of experience in project accounting, preferably in a consulting, engineering, or construction environment.
• Strong understanding of WIP accounting and project-based revenue recognition.
• Proficiency in accounting software (e.g., Deltek Vision / Vantagepoint, Netsuite, QuickBooks, or similar ERP systems).
• Advanced Excel skills and experience with data analysis / reporting tools.
• Stong organizational, analytical, and communication skills.
• Ability to work independently and collaboratively in a deadline-driven environment. Preferred Skills :
• Experience in an engineering or professional services firm.
• Knowledge of GAAP
• CPA or progress toward CPA a plus.