Project Accounting Manager

Lucas James Talent Partners; Chicago (IL); On-site; USD 80,000 - 100,000; Full time

Job summary

A leading recruitment firm seeks an experienced Project Accounting Manager to oversee financial management of engineering projects. The role involves project setup, budgeting, and cost tracking, requiring strong accounting skills and experience in project-based environments. The ideal candidate will have a Bachelor's degree in Accounting or related field, with over 5 years in project accounting, and strong knowledge of relevant software such as Deltek and Oracle. This position offers a chance to impact project profitability through financial insights.

Qualifications

• 5+ years of project accounting experience, preferably in engineering or construction.
• Knowledge of job costing, WIP, and revenue recognition methods.
• Strong attention to detail and organizational skills.

Responsibilities

• Oversee project setup, budgeting, and financial reporting.
• Prepare invoices and track project budgets.
• Coordinate communication between project teams and financial management.

Skills

Project accounting

Financial management

Cost tracking

Excel skills

Problem-solving

Education

Bachelor’s degree in Accounting, Finance, Business, or related field

Tools

Deltek Vision/Vantagepoint

Oracle

SAP

QuickBooks

Job description

The Project Accounting Manager supports the financial management of projects by overseeing project setup, budgeting, cost tracking, billing, and financial reporting. This role works closely with project managers, engineers, and the accounting team to ensure accurate job costing, timely invoicing, and compliance with contract requirements. The ideal candidate has experience in project-based accounting within engineering, construction, or architectural environments.

Key Responsibilities

Project Setup & Maintenance

• Set up new projects in Deltek, including labor categories, billing rates, tasks, and budgets.
• Review contract terms and billing requirements to ensure accurate project configuration.
• Maintain project files and ensure proper documentation of change orders.

Project Cost Tracking & Reporting

• Track labor hours, subcontractor costs, materials, and other direct expenses.
• Monitor project budgets, commitments, and expenditures, providing regular updates to project managers.
• Prepare work-in-progress (WIP) reports and percent-complete analyses.
• Assist with monthly project reviews and variance analysis.

Billing & Revenue Recognition

• Prepare monthly invoices in accordance with contract terms (T&M, fixed fee, cost-plus, milestone).
• Reconcile billable hours, expenses, and subcontractor invoices to ensure billing accuracy.
• Support revenue recognition calculations following percent-complete or other applicable methods.
• Investigate and resolve billing discrepancies with project managers and clients.
• Maintain accurate job cost records and ensure expenses comply with company policies and client requirements.
• Support audit requests related to projects, labor, contracts, or billing.
• Coordinate with procurement and subcontract administration to track commitments and approvals.
• Assist with project closeout, including final billing, reconciliations, and documentation.

Coordination & Communication

• Serve as the financial point of contact for assigned projects, working closely with project managers and engineers.
• Provide financial insights and recommendations to improve project profitability.
• Attend project kickoff and review meetings to support financial planning.

Requirements

• Bachelor’s degree in Accounting, Finance, Business, or related field.
• 5+ years of project accounting experience in an engineering, construction, or architecture firm strongly preferred.
• 3+ years of management experience.
• Knowledge of job costing, WIP, project budgets, and percent-complete revenue recognition.
• Experience with Deltek Vision/Vantagepoint, Oracle, SAP, QuickBooks, or similar project-based accounting systems.
• Strong Excel skills and the ability to analyze complex data.
• Excellent attention to detail, problem-solving skills, and organizational ability.
• Strong communication skills and ability to work with multidisciplinary teams.