Project Accountant Jobs
A Project Accountant is a financial specialist tasked with managing and monitoring the financial aspects of projects from inception to completion. This role ensures that all financial transactions related to the project are accurately recorded, reported, and compliant with company policies and regulatory requirements.
The project accountant collaborates closely with project managers, clients, and other stakeholders to provide timely and accurate financial information, which is crucial for informed decision-making and maintaining project viability. Their duties include budgeting, forecasting, cost management, and financial reporting. A strong understanding of project contracts, change orders, and financial documentation is essential to ensure projects are executed within budget and on schedule.
Effective communication and analytical skills are vital, as the project accountant must identify and address financial variances, ensure compliance with regulations, and optimize project financial performance. Overall, Project Accountant Jobs play a critical role in the successful financial management of projects.
National Yearly Income Range:
$55,000 - $100,000
Why Being a Project Accountant is Great.
A Project Accountant is a great job because it combines financial expertise with project management, allowing professionals to play a crucial role in the success of various initiatives. This position requires a keen eye for detail, strong analytical skills, and the ability to communicate effectively with different stakeholders, making it both challenging and rewarding. Project Accountant jobs often involve budgeting, forecasting, and financial reporting, providing a dynamic work environment that keeps accountants engaged and motivated.
Moreover, the demand for skilled project accountants continues to grow across industries, offering excellent career advancement opportunities and job stability.
Project Accountant Job Duties And Responsibilities
The Project Accountant is responsible for creating and maintaining project accounts within the accounting system while managing and updating all project-related records, including contracts and change orders. This role involves reviewing and approving supplier invoices, time sheets, and overhead charges, as well as investigating project variances and reporting on profitability to management. Additionally, the Project Accountant ensures compliance with financial regulations, practices revenue recognition, and monitors receivable income to support project managers in collections. By analyzing budgets and actual costs, they identify areas for cost savings and forecast future expenses, ultimately ensuring that projects remain within budget and are completed successfully.
Why be a Project Accountant with IES Residential?
Becoming a Project Accountant with IES Residential offers a unique opportunity to join a company with over 50 years of experience and a strong commitment to quality and customer satisfaction. In this role, you will be part of a diverse and inclusive culture that values employee growth and development, supported by comprehensive training programs and a family-oriented atmosphere. IESR's emphasis on community engagement and corporate responsibility allows you to contribute not only to the company's success but also to the well-being of the communities it serves.
This position enables you to play a vital role in the financial health of a respected organization while enjoying competitive benefits and a collaborative work environment.
Company Benefits
Competitive Wages
401(k) Plan with Contribution Matching
Paid Time Off (PTO)
Company Paid Life Insurance
Medical, Dental, & Vision Coverage
Short Term Disability Plans
Optional Long-Term Disability
Optional Critical Illness, Accident, Legal, & Pet Coverage.
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IES Residential States of Operation
FAQs
What's a Project Accountant's job description?
A Project Accountant is a financial professional responsible for overseeing the financial aspects of projects from start to finish. Their key duties include managing budgets, forecasting costs, ensuring compliance with regulations, and producing financial reports. They collaborate with project managers and stakeholders to provide accurate financial information, helping to maintain project viability and support informed decision-making. Strong analytical and communication skills are essential for identifying financial variances and optimizing project performance.
What is the average salary of a Project Accountant?
The average salary of a Project Accountant typically ranges from $55,000 to $100,000 annually, with a median salary around $75,000. Hourly rates range from approximately $26 to $48, with a median of about $36 per hour. These figures can vary based on location, experience, and industry.
How do I get a Project Accountant job?
To get a Project Accountant job, start by obtaining a bachelor's degree in accounting, business, finance, or a related field. Consider pursuing certifications like CPA or CMA to enhance your qualifications. Gain 2-5 years of experience in project accounting or a similar role, focusing on skills such as managing general ledgers, preparing budgets, and handling invoicing. Proficiency in accounting software and strong analytical, communication, and problem-solving skills are essential. Networking and applying for positions that match your skills and experience will also help you secure a job in this field.
What are the job duties of a Project Accountant?
A Project Accountant is responsible for managing project finances and ensuring accurate financial reporting. Key duties include creating and maintaining project accounts, managing contracts and change orders, reviewing and approving invoices and time sheets, and investigating project variances. They report on project profitability, generate billings, and respond to customer financial inquiries. Additionally, they monitor cash flow, manage project budgets, and ensure compliance with financial regulations. The role also involves preparing government reports, supporting collections, and closing out project accounts upon completion.
How much does a Project Accountant make per hour?
A Project Accountant typically earns between $26 and $48 per hour, with a median hourly rate of about $36. Salaries can vary based on location, experience, and industry.
Is a Project Accountant job fullfilling?
A Project Accountant job can be fulfilling for those who enjoy financial management, teamwork, and contributing to project success. It offers opportunities for problem-solving, career growth, and a chance to work on diverse projects, making it rewarding for detail-oriented individuals.
How long does it take to become a Project Accountant?
To become a Project Accountant typically takes around 4 to 7 years. This includes obtaining a bachelor's degree in accounting or a related field (4 years), gaining 2 to 5 years of relevant work experience, and potentially pursuing certifications like CPA or CMA for career advancement.
Is there a demand for Project Accountants?
Yes, there is a strong demand for Project Accountants, as they play a crucial role in managing financial aspects of projects, ensuring budget adherence, and providing financial insights for decision-making. Their expertise is sought after in various industries, including construction, engineering, and IT.
What are Project Accountant career paths?
Project Accountant career paths typically include roles such as Junior Project Accountant, Senior Project Accountant, Project Controller, and Finance Manager. Professionals may also advance to positions like Financial Analyst, Project Manager, or Chief Financial Officer. Specialization in areas like construction, engineering, or IT can further enhance career opportunities. Continuous education and certifications, such as CPA or CMA, can also aid in career progression.
What are the job responsibilities of a Project Accountant?
A Project Accountant is responsible for creating and maintaining project accounts, managing project-related records like contracts and change orders, and authorizing access to project accounts. They review and approve supplier invoices and time sheets, investigate project variances, and report on project profitability. Additionally, they handle project billings, respond to customer inquiries for financial information, and manage budget estimates for labor and materials. The role includes ensuring compliance with financial regulations, preparing government reports, and supporting project managers with collections to maintain cash flow. They also analyze costs, forecast future expenses, and ensure adherence to contract terms.
What are the requirements to get a Project Accountant job?
To secure a Project Accountant position, candidates typically need the following requirements:
1. Education: A Bachelor's degree in accounting, finance, business, or a related field.
2. Certifications: CPA (Certified Public Accountant) or CMA (Certified Management Accountant) certification is preferred.
3. Experience: 2-5 years of experience in project accounting or a similar role; more experience may be necessary for senior positions.
4. Technical Skills: Proficiency in electronic accounting systems and software, along with advanced skills in managing general ledgers, journal entries, and account reconciliations.
5. Financial Acumen: Ability to prepare project budgets, financial forecasts, and tax reports, as well as extensive experience in project invoicing and billing.
6. Analytical Skills: Strong analytical and problem-solving abilities.
7. Communication Skills: Excellent written and verbal communication skills for effective interaction with vendors and clients.
8. Knowledge: Familiarity with best practices in accounting and project management, along with vendor management experience.
Are there entry level Project Accountant jobs?
Yes, entry-level Project Accountant jobs exist. Common requirements include a bachelor's degree in accounting, finance, or a related field. Essential skills often include proficiency in accounting software, strong analytical abilities, attention to detail, and effective communication skills. Familiarity with project management principles and basic financial reporting can also be beneficial.
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