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Project Accounting Specialist

 POSITION SUMMARY           

Under general supervision, this critical position has primary responsibility for the design, implementation, integrity and ongoing operation of the project accounting system and revenue recognition process.   Supports the Controller to ensure all project and revenue related accounting policies, processes and procedures are in compliance with GAAP and optimize potential efficiencies.

TASKS AND RESPONSIBILIITIES

  • Responsible for development and integrity of process for gathering and entering project data, recognizing revenue and COGS and monitoring status of projects.
  • Responsible for insuring accuracy of data entered and posted to Great Plains Project Accounting module, including project setup, budget, billings, revenue, costs and GL posting of all project transactions. Also, prepares or reviews project lead sheet workbooks according to revenue recognition policies and rules (GAAP).
  • Recognizes revenue and COGS on all projects, as part of month end closing process, in Great Plains system, based on labor completed as a percentage of budgeted labor.
  • Responsible for implementing process to enforce software revenue recognition rules and long term contract accounting rules (GAAP).  Responsible for understanding and researching these accounting rules as needed.
  • Develops project accounting structures, procedures and analysis reporting in accordance with GAAP, the business needs of TriTech and the needs of each department.
  • Works with the Controller to design and implement accurate reports (using reporting tool specified by Controller) that include: work in progress schedules for all active and closed projects during the year; detailed project profit/loss; summarized revenue recognition; staff utilization; travel costs; and loss contingency reports.
  • Prepares and distributes detailed reports (i.e. project cost report) to Project Management team to supplement reports posted on Business Portal or SharePoint, as necessary.
  • Coordinates the project accounting integration with the project management, engineering, and client services departments
  • Analyzes project reports monthly and discusses projects not meeting specified criteria with Controller and project management.
  • Responsible for reconciling work in progress, revenue, billing and COGS to contract, budget, general ledger and other related sub-ledgers and accounts. Researches and follows-up on pending billing & costs on completed projects.
  • Assists with the setup of inventory items in Great Plains and the transfer of inventory into the project accounting projects for software delivered.
  • Responsible for setting up (or reviewing setup of) new projects in time tracking system and for assigning staff to projects.
  • Enters (or reviews entry of) change orders to project value and cost budget as necessary on an ongoing basis.
  • Exports timesheet entries for direct labor on projects from time tracking system and then imports and posts then into Great Plains projects.  Ensures timesheets from time tracking system are approved by appropriate managers and reviews data, to ensure timesheet has been posted correctly.
  • Other assignments as may be provided.

EDUCATION

B.A. in Business Accounting from accredited institution required. 

 

EXPERIENCE

  • Minimum four years related experience in a medium to large sized organization. 
  • Minimum 3 years of experience with software revenue recognition and long term contract accounting rules (GAAP).
  • Minimum one year experience with Great Plains Project Accounting module, utilizing all aspects of this module and the long term contract and percentage of completion methods. 
  • Strong Excel spreadsheet skills required.
  • Knowledge of and minimum two years of experience working with general ledger and financial statements required. 
  • Strong reasoning skills required.  Must be able to think independently and work with minimal supervision.
  • Must be an effective communicator with significant experience working with business customers and/or vendors, and with internal sales and management. 
  • Working knowledge of word-processing software (Word), data entry, 10-key by touch.  
  • English fluency required.
  • Experience with SQL Reporting Services a plus.
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