Project Accounting Manager I

Job Description

The Project Accounting Manager oversees all financial aspects of project-based work, ensuring accurate cost tracking, revenue recognition, forecasting, and compliance with company policies and accounting standards. This role partners closely with project managers, operations, and leadership to drive financial transparency, profitability, and risk management across the project lifecycle.

Responsibilities

Project Financial Management

• Lead project accounting activities including cost accumulation, revenue recognition, billing, and margin analysis.
• Ensure project financials are accurate, complete, and reported timely throughout the project life cycle.
• Monitor project budgets, forecasts, and actuals; identify variances and recommend corrective actions.
• Revenue Recognition & Compliance
• Ensure proper treatment of contract types (fixed-price, time & materials, cost-plus, milestone-based).
• Maintain compliance with internal controls, company policies, and external audit requirements.
  
  
  

Reporting & Analysis

• Prepare and review project financial reports for management.
• Provide financial insights to project and executive leadership to support decision-making.
• Support monthly, quarterly, and annual close processes related to project accounting.
  
  
  

Billing & Cash Flow

• Oversee project billing processes, including invoice accuracy, timing, and contract compliance.
• Partner with AR teams to resolve billing disputes and improve cash collection.
• Monitor unbilled revenue, retainage, and project-related receivables.
  
  
  

Leadership & Collaboration

• Manage and develop project accounting staff; set goals, provide coaching, and conduct performance reviews.
• Serve as a financial partner to project managers and operations teams.
• Participate in contract reviews, change order assessments, and risk evaluations.
  
  
  

Process Improvement

• Drive improvements in project accounting systems, processes, and controls.
• Standardize best practices to improve efficiency, accuracy, and scalability.
  
  
  

Success Factors

• Accurate and timely project financial reporting.
• Strong partnership with project and operations teams.
• Improved forecast accuracy and margin performance.
• Effective leadership and development of the project accounting team.
  
  
  

Excel Functions for a Construction Project Accounting Manager

• SUMIFS
• COUNTIFS
• SUBTOTAL
• XLOOKUP
• IF/IFS
• ROUND
• LEFT / MID / RIGHT
• TRIM / CLEAN
• CONCAT / TEXTJOIN
• PIVOT TABLES/ PIVOTBY
• INDEX MATCH
• Ability to create invoicing templates and summarize reports for Executive review
  
  
  

Qualifications

• Highschool Diploma/ GED Equivalent
• Bachelor’s degree in accounting, Finance, or if you have related field experience.
• 5 years of accounting/finance experience with significant project or contract accounting exposure.
• Prior supervisory or managerial experience required.