Project Accountant

Armada Hoffler Properties - Virginia Beach, VA

Full-time - Entry Level

Virginia Beach, VA

Real Estate

About the position

As an integral part of the Project team, the Project Accountant will provide quality financial services for multiple large commercial construction projects. Quality financial services include, but are not limited to, contract review, billings, work-in-place reporting, subcontractor and general condition payments, and cash reporting. Ensure accurate and timely financial data entry, compliance, GAAP requirements, and mitigate risks.

Responsibilities

• Attend new project start up meeting and performs budget import verification in Vista.
• Compare vendor/subcontractor invoices to purchase orders or contracts to verify quantities, prices, payment terms, freight charges, extensions, etc.
• Compute discounts, make sales/use tax determinations, verify W-9 is on file, obtain approval from the appropriate Project Manager and place invoices in line for payment.
• Process Applications for Payment submitted by subcontractors, verify any deficiencies and route to Project Managers for approval.
• Assist Project Manager with creation of the Owner Application for Payment by verifying subcontract bills are accurately reflected on the billing.
• Review deficiencies that will prevent release of subcontractor/vendor payments and request information necessary to resolve said deficiencies.
• Verify second-level subcontractors and vendors are being paid by subcontractor either through submission of lien waivers or processing of joint checks.
• Monthly update and review of project cash position and outstanding payables, receivables, and retainage.
• At month end, ensure all owner billings have been submitted for respective projects.
• Verify previous paid amounts, communicate any discrepancies to Project Management.
• Post correct billings, invoices, and subcontractor application for payments in the correct accounting period.
• Obtain necessary approval for any journal entries for accruals or reclasses.
• Distribute on hold and job cost reports to project managers as indicated on monthly accounting calendar.
• Monthly performs billings in excess/costs in excess analytic.
• Prepare journal entries as needed with appropriate supporting documentation attached.
• If applicable on the project, prepare the amortization of deferred person.
• Update stored material log for deposits and inventory stored materials.
• Monthly roll the work in place reports for the project manager.
• Managing the task scheduler in Blackline.
• If applicable on the project, prepare the CCIP/OCIP schedules.
• Hold monthly meetings to review payment status and subcontractor deficiencies.
• Perform ad hoc tasks as assigned by supervisor or requested by Project Management.

Requirements

• Bachelor's degree in Accounting or similar field (finance, business, etc.)
• 1-2 years accounting experience.
• Strong analytical and critical thinking skills.
• Strong proficiency in MS Excel, Word and Outlook.
• Solid organizational skills with superior attention to detail.
• Strong verbal and written communication skills.
• Great interpersonal and relationship-building skills.
• Ability to flourish in a fast-paced, complex environment with a willingness to adapt to change.

Nice-to-haves

• Construction Project Accounting or Real Estate Development Accounting experience a plus.
• Knowledge of ViewPoint accounting software a plus.

Benefits

• Competitive salaries
• Excellent benefits
• Professional and stimulating work environment