Project Accountant

Description

Position Summary

The Project Accountant provides accurate project financial visibility through disciplined job-cost accounting, billing support, forecasting, reconciliation, and collaboration with project teams. This position partners with Project Managers and Finance to maintain reliable financial records, monitor project performance, support timely billing, and identify financial risks throughout the project lifecycle.

Essential Duties and Responsibilities

Project Financial Records

• Support project setup and maintain approved budgets, cost codes, commitments, contract information, and billing records.
• Review project transactions for accuracy, proper classification, and alignment with approved contracts and budgets.
• Maintain complete and accurate project financial information within established accounting timelines.

Job Costs, Work in Progress, and Margin

• Review project costs, work in progress (WIP), revenue, margins, and outstanding commitments.
• Analyze budget-to-actual variances and work with project teams to explain discrepancies.
• Identify and promptly escalate unusual costs, margin changes, billing discrepancies, and revenue or WIP concerns.

Billing and Cash Flow

• Coordinate with project teams to confirm billing readiness, required approvals, and supporting documentation.
• Support accurate and timely billing in accordance with contract requirements and established billing cycles.
• Track billing holds, missing documentation, and change-order status; coordinate follow-up with responsible parties.
• Assist with resolving project-related billing questions and collection issues.

Forecasting and Reporting

• Partner with Project Managers and Finance to update cost-to-complete estimates and project financial forecasts.
• Prepare project financial reports and provide timely analysis to support business decisions.
• Support month-end close activities and investigate project accounting discrepancies.

Controls, Reconciliation, and Closeout

• Reconcile project financial records and support timely financial closeout of completed projects.
• Maintain organized documentation that supports financial reporting, internal reviews, and audits.
• Follow established accounting procedures, approval requirements, and internal controls.
• Recommend improvements that strengthen accuracy, efficiency, and financial visibility.

Performance Expectations

• Project financial records are accurate, complete, and maintained on schedule.
• Material financial variances and project risks are identified and communicated promptly.
• Billing and forecasting activities are supported within established deadlines.
• Completed projects are reconciled and closed within established timelines.
• Financial documentation remains organized, supportable, and audit-ready.

Benefits at ModernControls

ModernControls offers a comprehensive benefits package to support eligible employees and their families, including:

• Company-paid medical insurance: Highmark Blue Cross Blue Shield coverage, with ModernControls paying 100% of the medical premium for eligible enrolled coverage tiers.
• Health Savings Account contributions: For eligible HSA participants, company contributions of $500 annually for employee-only coverage or $1,000 annually for eligible dependent or family coverage, paid in monthly installments.
• Dental and vision insurance: Available through employee-paid plans.
• Company-paid life insurance: $50,000 in basic life insurance and accidental death and dismemberment coverage.
• Company-paid disability insurance: Short-term and long-term disability coverage.
• 401(k) retirement plan: Administered through Fidelity, with a company match of 100% of the first 3% of eligible compensation contributed, plus 50% of the next 2%.
• Paid Time Off (PTO): Full-time, non-union employees receive 15 days annually during their first five years of employment, increasing to 20 days after five years and 25 days after ten years. PTO is provided upfront at the start of employment and resets each employment anniversary. Employees may carry over up to five unused days into the following anniversary year, subject to company policy.
• Paid holidays: Six paid holidays annually for eligible non-union employees: New Year’s Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day, and Christmas Day.
• Voluntary supplemental benefits: Additional life insurance and supplemental coverage options, including accident, cancer, critical illness, hospital confinement, and whole life insurance.

ModernControls Core Values

Run Towards the Fire • Never Give Up • Held to a Higher Standard • My Word Is My Bond • Be Modern • Have Each Other’s Back

Employees are expected to demonstrate these values through accountability, integrity, teamwork, persistence, and continuous improvement.

This description outlines the primary responsibilities of the position. Other related duties may be assigned.

Requirements

Required Qualifications

• Associate degree in Accounting, Finance, Business Administration, or a related field, or an equivalent combination of relevant education and experience.
• At least three years of accounting experience, including experience with project accounting or job-cost accounting.
• Working knowledge of project budgets, cost coding, commitments, billing, reconciliations, and financial reporting.
• Understanding of work in progress (WIP), project margins, budget-to-actual analysis, and cost-to-complete forecasting.
• Experience using accounting or enterprise resource planning (ERP) software.
• Proficiency in Microsoft Excel, including formulas, sorting, filtering, and reviewing financial data.
• Ability to review contracts and change orders to identify information affecting project accounting and billing.
• Strong attention to detail and the ability to investigate and resolve financial discrepancies.
• Ability to organize multiple projects, manage competing priorities, and meet recurring accounting deadlines.
• Clear written and verbal communication skills and the ability to work effectively with Project Managers, Finance, and other departments.
• Sound judgment, integrity, and discretion when handling confidential financial and business information.

Preferred Qualifications

• Bachelor’s degree in Accounting, Finance, or a related field.
• Accounting experience in construction, mechanical contracting, HVAC, building automation, or a related project-based industry.
• Experience with Spectrum ERP.
• Experience supporting progress billing, schedules of values, retainage, change orders, and project closeout.
• Familiarity with revenue recognition concepts and project-related month-end close activities.

Core Competencies

Project Accounting • Job Costing • Financial Analysis • WIP • Forecasting • Reconciliation • Internal Controls • Accuracy • Organization • Problem Solving • Communication • Collaboration • Follow-Through

Work Environment and Essential Abilities

This position primarily involves office-based work, regular computer use, reviewing detailed financial information, and communicating with project and accounting teams. The employee must be able to perform the essential functions of the position, with or without reasonable accommodation.