Construction Project Accountant: WIP, Billing & Forecasts

Richard Group; Chicago (IL); On-site; USD 105,000 - 125,000; Full time

Benefits offered by this job

Annual bonus program

401(k) matching

On-site meals

Gym membership reimbursement

Sabbatical leave

PTO

Job summary

Richard Group is seeking a Senior Project Accountant to oversee financial management, reporting, and analysis of construction projects from setup through closeout. This role partners with Operations and Finance to ensure projects are financially well-managed and GAAP compliant, reporting to the Director of Finance.

The position supports project managers, prepares owner billings, monitors costs, and leads monthly financial reporting, with a focus on WIP, revenue recognition, and close processes.

Qualifications

• Bachelor's degree in Accounting, Finance or related field required.
• Minimum 5 years of progressive construction accounting experience (WIP, revenue recognition, month-end close).
• Strong knowledge of GAAP & construction accounting incl. %-of-Completion, job costing, contract billing.

Responsibilities

• Set up and maintain project records: budgets, cost codes, values, change orders, billing terms.
• Monitor and analyze project costs, commitments, subcontracts, and change orders.
• Prepare owner billings, including AIA applications, schedule of values, retention.
• Review transactions for accuracy and proper coding.
• Perform monthly project reconciliations and assist with WIP and revenue recognition.
• Collaborate with Project Managers to review cost reports and forecasts.
• Monitor subcontractor and vendor invoicing against contract requirements.
• Support project cash flow: billing timing, collections, retention tracking.
• Assist with project closeout: final billings, retainage, archives.
• Deliver monthly project financial reports and variance analyses.
• Support month-end/year-end close including accruals and reconciliations.
• Ensure compliance with internal controls and reporting obligations.
• Assist audits with schedules and documentation.

Skills

GAAP knowledge

Construction accounting

Foundation/Sage/Procore experience

Advanced Excel

MS Office / Adobe tools

Attention to detail

Communication skills

Independent yet collaborative

Education

Bachelor's degree in Accounting/Finance

Tools

Foundation

Sage Intacct

Procore

Job description

Position: Senior Project Accountant

Department: Finance

Reports to: Director of Finance

Location: 566 W. Lake Street, Chicago, IL (in office 4 days a week)

Employment Type: Full-time benefits eligible

Join Richard, Purpose Builders: Where Your Impact Matters

At Richard, we're not just another construction company - we're the catalyst for change in the industry. As one of the fastest-growing general contractors in the nation, we offer the excitement and innovation of a startup with the stability and expertise of an established firm. We're seeking visionaries who are ready to break free from the constraints of traditional construction and make a real impact.

Why Choose Richard?

Culture-First Approach: People and innovation over bottom line

Purpose-Driven Projects: Build structures that truly matter, from critical healthcare facilities to cutting-edge data centers

Rapid Growth: Be part of a company doubling in size while maintaining quality

Collaborative, Caring Culture: Clear communication and proactive problem-solving, while supporting your health, financial wellness, and career growth

Direct Impact: Your ideas shape our projects and company direction

Innovation Freedom: Be at the forefront of construction technology and sustainable practices

At Richard, you're not just a number - you're a crucial part of our mission to transform the construction industry. We're creating efficient, dynamic spaces that advance communities, sustainability, and well-being. With nearly 200 diverse contracts since 2016 and a passionate team across the nation, we offer the resources of a large firm with the agility and personal touch of a boutique operation.

Break free from corporate constraints. Join Richard, Purpose Builders, and be the architect of your career while shaping the future of construction. Here, your voice is heard, your ideas matter, and your impact is visible.

Job Summary

The Senior Project Accountant is responsible for overseeing the financial management, reporting, and analysis of construction projects from project setup through closeout. This role is critical to maintaining the accuracy and integrity of project financials and supporting timely, reliable company-level reporting. The Senior Project Accountant serves as a key business partner to Operations and Finance, working closely with Project Managers, department leaders, and executive management to ensure projects are financially well-managed, contract requirements are met, and accounting is performed in accordance with company policy and GAAP.

Responsibilities

* Set up and maintain project records, including budgets, cost codes, contract values, change orders, and billing terms within the accounting and project management systems.

* Monitor and analyze project costs, commitments, subcontracts, and change orders throughout the life cycle of each project.

* Prepare, review, and submit accurate owner billings, including AIA payment applications, schedule of values, stored materials, retention, and all required supporting documentation.

* Review project transactions for accuracy and completeness, ensuring costs are coded properly and recorded in the correct accounting period.

* Perform monthly project reconciliations and support the preparation of work-in-progress (WIP) schedules and related revenue recognition calculations.

* Partner with Project Managers to review job cost reports, identify cost overruns or margin risks, and update forecasts, including estimate-at-completion and cost-to-complete analyses.

* Monitor subcontractor and vendor invoicing for compliance with contract requirements, including lien waivers, insurance certificates, bonds, certified payroll, and other required documentation.

* Assist in managing project cash flow by coordinating billing timing, collections support, subcontractor payment status, and retention tracking.

* Support project closeout activities by ensuring all financial obligations are resolved, final billings are completed, retainage is tracked, and project documentation is complete and properly archived.

* Prepare and deliver monthly project financial reports, variance analyses, and other ad hoc reporting as needed by project teams and leadership.

* Support monthly, quarterly, and year-end close processes related to project accounting, including accruals, reconciliations, and revenue recognition entries.

* Ensure compliance with internal controls, company accounting policies, contract requirements, lender or owner reporting obligations, and external reporting requirements.

* Assist with internal and external audits by preparing schedules, supporting documentation, and responses to audit requests.

* Maintain a strong understanding of construction accounting principles, including percentage-of-completion accounting, WIP reporting, retainage, and job cost controls.

* Identify and recommend process improvements to enhance the efficiency, accuracy, and consistency of project accounting workflows and reporting.

* Serve as a trusted financial partner to Project Managers, Operations leaders, and executive management by providing timely, accurate, and actionable financial information.

* Help train and guide junior accounting staff or project accounting team members on project accounting procedures, billing processes, and system best practices.

* Promote communication and coordination between Finance and Operations to ensure alignment on project status, financial risks, and reporting expectations.

* Contribute to the development and standardization of best practices across project accounting, billing, documentation, and controls.

Skills & Qualifications

* Bachelor's degree in Accounting, Finance, or a related field required.

* Minimum of 5 years of progressive construction accounting experience, including direct responsibility for WIP schedules, revenue recognition support, and month-end close.

* Strong knowledge of GAAP and construction accounting principles, including percentage-of-completion accounting, job costing, contract billing, and project forecasting.

* Experience working with construction accounting and project management systems such as Foundation, Sage Intacct, Procore, or similar platforms.

* Advanced Excel skills, including pivot tables, lookups, conditional formulas, and data analysis functions.

* Proficiency with Microsoft Office applications, including Excel and PowerPoint, and Adobe tools such as Acrobat and Adobe Sign.

* Strong attention to detail, analytical ability, and organizational skills with the ability to manage multiple priorities and deadlines in a fast-paced environment.

* Excellent written and verbal communication skills, with the ability to work effectively with both financial and non-financial stakeholders.

* Ability to exercise sound judgment, take initiative, and work independently while also collaborating effectively across departments.

At Richard, we believe in showing the same gratitude and care to our team members that we do in our projects. This position comes with a competitive salary to match your level of experience and includes competitive benefits such as:

• Medical, Dental, Vision, and Life Insurance
• Health Savings Account (HSA) option
• 15 days of paid time off (PTO)
• 7 paid holidays
• All new hires are immediately eligible to participate in RICHARD's Annual Bonus Program starting on your first day of employment.
• Company 401(k) matching contributions
• Parental leave policy
• We fully cover transportation costs, including parking and train fares, for employees
• Affordable and freshly made breakfast and lunch provided through our on-site meal program (Chicago home office employees only)
• Gym membership reimbursement program (Chicago home office employees only)
• Fully paid two-month sabbatical leave for employees who reach their 10-year anniversary with the company
• All employees immediately have access to mentorship, regular skills-based training, and leadership development programs

Pay Range:

$105,000.00-$125,000.00

The base salary range for this position as of posting is Richard's good faith estimate of the possible compensation for this role. The range for this role takes into account the factors that are considered in making compensation decisions including but not limited to skill sets; experience and training; licensure and certifications; and other business and organizational needs.

Richard is an equal opportunity employer. All applicants and employees will receive equal employment opportunities without attention to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran, or disability status.

Accessibility: If you need an accommodation as part of the employment process please contact Natasha in our Talent Team at
Email: [e-mail]

Equal Opportunity Employer, including disabled and veterans.

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