Project Accountant

Frey Lutz; Lancaster (Lancaster County); On-site; USD 85,000 - 120,000; Full time

Job summary

Kelso Industries in the United States is seeking a Project Accountant to manage financial records for multiple HVAC, plumbing, and electrical projects. You will apply percentage-of-completion accounting under ASC 606, produce WIP reports, and collaborate with project teams to ensure accurate revenue, costs, and margins.

The role emphasizes month-end close, billings, and internal/external reporting, with a focus on accuracy, process improvements, and stakeholder communication.

Qualifications

• Bachelor's degree in Accounting, Finance, or a related field is required.
• Minimum 7–10 years of project accounting experience in construction or mechanical trades.
• Hands-on experience with percentage-of-completion accounting and WIP schedules.
• GAAP knowledge for long-term construction contracts (ASC 606).
• Proficiency with construction accounting software: Sage 300 CRE, Viewpoint Vista, Foundation, Spectrum; NetSuite ERP preferred.
• Advanced MS Excel skills, including pivot tables and VLOOKUP/XLOOKUP.
• Strong attention to detail with ability to manage multiple projects under deadlines.
• Excellent written and verbal communication skills.

Responsibilities

• Calculate and record monthly revenue recognition using the cost-to-cost POC method.
• Collaborate with project managers to obtain ETC and ensure projections reflect field conditions.
• Identify projects with margin fade, cost overruns, or scope changes that affect POC.
• Prepare and post monthly journal entries for over/under billings and cost adjustments.
• Prepare monthly WIP schedules and reconcile with the general ledger.
• Analyze overbilled/underbilled positions and flag contracts at risk.
• Maintain historical WIP data for trend analysis and forecasting.
• Set up new jobs with cost codes, budgets, and contract values.
• Code subcontractor invoices, material purchases, and labor allocations to correct job/cost phase.
• Review time sheets and payroll allocations to capture labor costs by project.
• Monitor commitments vs budgets and alert on variances.
• Prepare AIA/G702/G703 billings and log change orders.
• Track AR and collections; review subcontractor pay apps and lien waivers.
• Assist in monthly/quarterly/annual financial statements and management reports.
• Provide project-level gross margin analysis and explanations.
• Support year-end audit and bonding requests; prepare schedules and workpapers.
• Coordinate with external auditors and maintain audit-ready documentation.
• Develop ad hoc analyses and dashboards; drive accounting workflow improvements.
• Identify bottlenecks and implement best practices across accounting processes.

Skills

POC accounting

WIP schedule preparation

GAAP knowledge

Advanced Excel

Multiproject management

Communication skills

Education

Bachelor's degree in Accounting, Finance, or related field

CPA preferred

Tools

Sage 300 CRE

Viewpoint Vista

Foundation

Spectrum

NetSuite ERP

Job description

Company Background:

We are 24 (and growing) market-leading operating companies that deliver unmatched HVAC, mechanical, refrigeration, plumbing, and electrical solutions. We are actively building the nation's preferred technical service partnership for commercial MEP+ ecosystems, empowering industrial, commercial, and institutional clients—including Fortune 500 companies and other industry leaders across the United States with reliable, innovative service. Learn more about us at www.kelso-industries.com

Company Background:

We are 24 (and growing) market-leading operating companies that deliver unmatched HVAC, mechanical, refrigeration, plumbing, and electrical solutions. We are actively building the nation's preferred technical service partnership for commercial MEP+ ecosystems, empowering industrial, commercial, and institutional clients—including Fortune 500 companies and other industry leaders across the United States with reliable, innovative service. Learn more about us at www.kelso-industries.com

POSITION SUMMARY

The Project Accountant is a key member of the finance team, responsible for maintaining accurate financial records across a portfolio of active construction projects in the HVAC, plumbing, and electrical trades. This individual applies percentage-of-completion (POC) accounting principles to ensure revenue, costs, and gross margin are recognized in accordance with GAAP and company policy. The Project Accountant works closely with project managers, field supervisors, and business finance personnel to produce timely and reliable Work-in-Process (WIP) reports, identify financial risks, and support sound project financial management from contract award through final closeout.

KEY RESPONSIBILITIES

Percentage-of-Completion Accounting

• Calculate and record monthly revenue recognition using the cost-to-cost POC method in compliance with ASC 606 and internal policies.
• Collaborate with project managers to obtain accurate estimates-to-complete (ETC) and ensure projections reflect current field conditions.
• Identify and elevate projects with margin fade, cost overruns, or scope changes that impact the POC calculation.
• Prepare and post monthly journal entries for over/under billings, revenue accruals, and job cost adjustments.

Work-in-Process (WIP) Reporting

• Prepare, review, and distribute monthly WIP schedules for all active projects across HVAC, plumbing, and electrical divisions.
• Reconcile WIP balances to the general ledger and resolve discrepancies in a timely manner.
• Analyze overbilled and underbilled positions; flag contracts at risk and communicate findings to project and operations leadership.
• Maintain historical WIP data to support trend analysis and forecasting.

Job Cost Management

• Set up new jobs in the accounting system, including cost codes, contract values, and budget structures.
• Process and code subcontractor invoices, material purchases, equipment charges, and labor allocations to the correct job and cost phase.
• Review time sheets and payroll allocations to ensure labor costs are accurately captured at the project level.
• Monitor committed costs and purchase orders against approved budgets; alert project managers to variances.

Billings & Contract Administration

• Prepare and submit AIA-format (G702/G703) progress billings, T&M billings, and lump-sum applications for payment.
• Track contract values, approved change orders, pending change orders, and claim items; maintain up-to-date contract logs.
• Monitor accounts receivable for assigned projects; follow up on outstanding invoices and coordinate with project managers on collections.
• Review and process subcontractor pay applications, including lien waiver collection and conditional/unconditional tracking.

Reporting & Analysis

• Assist in the preparation of monthly, quarterly, and annual financial statements and management reports.
• Provide project-level gross margin analysis and variance explanations to operations and senior leadership.
• Support year-end audit and bonding/surety requests by preparing project schedules, WIP documentation, and supporting workpapers.
• Manage the external audit process end-to-end, serving as the primary point of contact for external auditors; coordinate the timely preparation and delivery of all requested schedules, reconciliations, and supporting documentation.
• Liaise directly with external auditors to address inquiries, clarify accounting positions, and resolve open items efficiently, ensuring the audit progresses on schedule and with minimal disruption to operations.
• Conduct internal pre-audit reviews of project financials, WIP schedules, and job cost reports to identify and remediate potential issues before external audit fieldwork begins.
• Maintain thorough audit-ready workpapers and documentation throughout the year, ensuring all project accounting entries are supported and traceable.
• Develop ad hoc financial analyses and dashboards as requested by management.
• Operate with a strong sense of urgency; proactively identify bottlenecks in accounting workflows and drive process improvements to increase efficiency, accuracy, and reporting timeliness.
• Evaluate existing accounting procedures and controls, recommend enhancements, and lead implementation of best practices across the project accounting function.

QUALIFICATIONS

Required

• Bachelor's degree in Accounting, Finance, or a related field.
• Minimum 7–10 years of project accounting experience in the construction, mechanical, or specialty trade contracting industry.
• Demonstrated hands-on experience with percentage-of-completion accounting and WIP schedule preparation.
• Strong working knowledge of GAAP as applied to long-term construction contracts (ASC 606).
• Proficiency with construction accounting software (e.g., Sage 300 CRE, Viewpoint Vista, Foundation, Spectrum, or similar); experience with NetSuite ERP strongly preferred.
• Advanced Microsoft Excel skills, including pivot tables, VLOOKUP/XLOOKUP, and financial modeling.
• Exceptional attention to detail with the ability to manage multiple projects simultaneously under deadline pressure.
• Effective written and verbal communication skills; comfortable presenting financial data to non-financial stakeholders.

Preferred

• Experience in HVAC, plumbing, electrical, or mechanical contracting specifically.
• Familiarity with AIA billing documents, lien waivers, and subcontract administration.
• CPA or CPA candidate designation.
• Experience supporting surety bonding and external financial audits.

Why Join Us?

We're committed to attracting talented individuals who seek a company with a strong foundation of success and an outstanding culture. We proactively provide competitive compensation, comprehensive benefits, and clear pathways for career advancement with autonomy and flexibility in an entrepreneurial environment.

Learn more about us at www.kelso-industries.com

We celebrate diversity and are committed to creating an inclusive environment for all employees. We do not discriminate in any aspect of employment on the basis of race, color, religion, national origin, ancestry, gender, sexual orientation, gender identity and/or expression, age, veteran status, disability, or any other characteristic protected by federal, state, or local employment discrimination laws where Kelso does business.