Construction Accountant / Project Accountant

Stans Buildtech Realty; Mumbai; On-site; INR 700,000 - 1,100,000; Full time

Job summary

Stans Buildtech Realty is seeking a Construction Accountant to manage the financial health of construction projects and the company, focusing on job costing and PCM-based revenue recognition.

You will maintain project cost codes, prepare monthly WIP schedules, process subcontractor payments, verify COIs and lien waivers, and support external audits with detailed schedules and documentation.

Qualifications

• Experience in construction industry accounting and job costing.

Responsibilities

• Prepare monthly WIP schedules and revenue recognition using PCM.
• Manage subcontractor pay applications, lien waivers, COIs, and retention.
• Assist audits with schedules, documentation, and compliance checks.

Skills

Job costing

WIP reporting

Variance analysis

Budget tracking

PCM (Percentage-of-Completion)

Education

Bachelor's degree in Accounting/Finance

Tools

AIA G702/G703 forms

Construction accounting software

Job description

Role & responsibilities

The Construction Accountant manages the financial health of assigned construction projects and the overall corporate entity. This role differs from standard accounting as it focuses heavily on job costing, percentage-of-completion revenue recognition, subcontractor lien waivers, and multi-layered project budget tracking.

1. Job Costing & Project Accounting

• Budget Tracking: Set up and maintain project cost codes (e.g., CSI MasterFormat) to monitor actual expenditures against estimated project budgets.
• WIP Reporting: Prepare monthly Work-In-Progress (WIP) schedules and calculate revenue using the Percentage-of-Completion Method (PCM).
• Variance Analysis: Identify and analyze variances between budgeted costs and actual expenditures; flag overruns to Project Managers immediately.

2. Subcontractor & Vendor Management

• Accounts Payable (AP): Process subcontractor pay applications, verify progress billing milestones, and ensure proper approvals from site managers.
• Compliance Checks: Collect and verify required compliance documents, including lien waivers, certificates of insurance (COI), and performance bonds, before releasing payments.
• Retention Tracking: Manage subcontractor retention/withholding accounts and reconcile balances for final payout upon project closeout.

3. General Accounting & Financial Compliance

• Accounts Receivable (AR): Generate and submit progress billings (e.g., AIA G702/G703 forms) to clients and track timely collections.
• Tax Compliance: Oversee construction-specific tax requirements, including payroll taxes for multi-jurisdictional sites and contractor tax deductions.
• Audit Support: Prepare schedules and documentation for external financial audits, insurance audits (workers' comp/general liability), and bank monitoring reviews.

Preferred candidate profile

Having an experience of construction industry