Project Accountant II - Construction Management Accounting

Job Summary

The Project Accountant II supports construction project teams by managing financial processes including draw applications, subcontractor billing, and general ledger reconciliation. This role requires strong attention to detail, proficiency in Microsoft Excel, and the ability to coordinate with internal and external stakeholders such as lenders and investors. The ideal candidate will have experience in construction accounting, escrow statement reconciliation, and lender reporting. A bachelor’s degree in Accounting or Finance is required, with additional certifications or experience in construction finance preferred. This position plays a key role in ensuring accurate financial tracking and timely reporting across multiple active projects.

Key Responsibilities

• Review project budgets and address cost overruns in collaboration with project managers.

• Track newly awarded contracts for deposits and bulk material purchases to include in cash flow projections.

• Review subcontractor billings and ensure invoice support packages are complete per contract payment terms, including issuing joint checks to subcontractors and suppliers when necessary.

• Code invoices to the correct budgeted line items.

• Create, roll forward, and reconcile construction draw applications to job cost and general ledger, updating S&U as needed.

• Compile and review supporting documentation for monthly draw packages.

• Manage weekly and monthly check runs.

• Track and prepare conditional and unconditional lien releases for subcontractors and suppliers.

• Coordinate with construction personnel on repair status for reporting to internal teams, lenders, investors, and inspectors.

• Prepare monthly journal entries, job cost allocations, and accruals.

• Reconcile general ledger, clearing accounts, accounts receivable/payable, and bank statements at month-end.

• Handle investor audit requests, including state tax audits.

• Support staff with special projects and other duties as assigned.

Education & Certifications

• Bachelor’s degree in Accounting, Finance, or a related field, required

• Coursework or certification in Construction Accounting or Project Costing, preferred

• Advanced Excel training or certification, preferred

• Familiarity with GAAP and construction-specific accounting principles, preferred

• Continuing education in real estate development or construction finance, preferred

• CPA or progress toward CPA certification, preferred

Experience

• 3+ years of relevant accounting experience required.

• Must have experience preparing monthly draw applications and coordinating with investors and lenders.

• Demonstrated ability to manage subcontractor billing processes, including invoice validation and issuing joint checks, required.

• Hands-on experience with general ledger reconciliation, journal entries, and month-end close processes is required.

• Proficiency in Microsoft Excel (intermediate to advanced), Word, and SharePoint for financial tracking and reporting is required.

• Familiarity with escrow closing statements and the ability to reconcile S&U is preferred.

• Experience with lender reporting, including coordinating and submitting documentation in accordance with loan agreement terms, is preferred.

Skills & Competencies

• Proficient in preparing timely monthly draw applications for investors and lenders.

• Detail-oriented, customer-focused, and deadline-driven.

• Strong verbal and written communication skills.

• Skilled in managing multiple priorities and meeting tight deadlines.

• Intermediate to advanced proficiency in Microsoft Excel, Word, and SharePoint.

• Experienced in using document imaging systems.

• Solid understanding of escrow closing statements with the ability to reconcile S&U.

• Knowledgeable in insurance claim tracking, processing, and reporting.

• Experienced in lender reporting, including coordination with internal and external personnel to track, reconcile, and submit required documentation per loan agreement terms.

• Capable of preparing monthly and quarterly cash flow projections.

Other

This role may require additional responsibilities as assigned.

About Fairfield

If you're driven and seek a collaborative workplace that makes a difference, Fairfield might be the place for you. As a leader in the multifa