Inframark

Project Accountant

Raleigh, NC

Full-time

About This Job

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

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Set up new projects in the accounting system in accordance with contracts and budgets.

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Monitor project costs, revenue recognition, and margins throughout the project lifecycle.

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Collaborate with project engineers to ensure accurate time and expense coding, billing and budget tracking.

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Prepare and analyze project performance reports, highlighting key variances and financial risks.

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Review project-related transactions for accuracy and completeness.

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Monitor values of inventory-in-process and expense amounts in accordance with recognized revenue.

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Calculate quarterly updates to blended labor rates for use in both estimating and project job costing.

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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

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Calculate and maintain monthly WIP schedules in accordance with revenue recognition policies (percentage-of completion or other applicable methods).

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Ensure timely and accurate WIP adjustments and reconciliations.

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Coordinate with project engineers to assess project progress and determine appropriate revenue recognition.

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Monitor unbilled receivables and deferred revenue to ensure proper matching of income and costs.

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Perform monthly backlog calculations based on revenue earned on booked projects

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Verify and finalize monthly bookings report; ensure new projects are added to backlog.

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Assist with monthly reporting relating to backlog and bookings.

Month-End Close & Reporting

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Prepare and post journal entries related to project revenues, costs, accruals, and adjustments during month-end close.

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Assist in reconciling general ledger accounts related to projects, WIP, unbilled A/R, and revenue.

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Contribute to monthly financial reporting packages and project-specific financial summaries.

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Support internal and external audits with necessary documentation and schedules.

Billing & Invoicing

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Generate timely and accurate client invoices based on contractual terms and project progress.

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Assist in resolving billing issues or discrepancies in coordination with project managers and clients.

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Monitor accounts receivable and support collections efforts for project-related invoices.

Qualifications:

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Bachelor's degree in Accounting, Finance, or related field.

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3+ years of experience in project accounting, preferably in a consulting, engineering, or construction environment.

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Strong understanding of WIP accounting and project-based revenue recognition.

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Proficiency in accounting software (e.g., Deltek Vision/Vantagepoint, Netsuite, QuickBooks, or similar ERP systems).

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Advanced Excel skills and experience with data analysis/reporting tools.

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Stong organizational, analytical, and communication skills.

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Ability to work independently and collaboratively in a deadline-driven environment.

Preferred Skills:

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Experience in an engineering or professional services firm.

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Knowledge of GAAP

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CPA or progress toward CPA a plus.

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