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 projectsVerify 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 GAAPCPA or progress toward CPA a plus.