Our client, a family-owned real estate development company specializing in residential rental and industrial builds across the GTA, is seeking a driven Project Accountant to join their team.

The Project Accountant is responsible for managing the financial aspects of our development projects. This role involves budgeting, financial reporting, invoicing, and collaboration with various stakeholders to ensure effective financial management throughout the project lifecycle. 

This position is required to work full-time hours on-site at the client's office.

Responsibilities:

• Track and allocate project costs, including labor, materials, and overhead.
• Work with project managers to ensure accurate and timely recording of expenses.
• Monitor and analyze cost variances to identify and address any discrepancies.
• Assist in the development of project budgets in collaboration with project managers.
• Provide financial insights and support during the budgeting and forecasting processes.
• Monitor actual expenses against budgeted amounts and investigate and explain any variances. 
• Prepare regular financial reports for individual projects, providing key performance indicators and financial metrics.
• Communicate financial information to project managers and other stakeholders.
• Generate customized reports as needed for project analysis and decision-making. 
• Prepare and submit accurate and timely project invoices to clients based on contractual terms.
• Coordinate with project managers to ensure that all billable items are captured.
• Address any billing discrepancies and facilitate prompt resolution. 
• Ensure proper recognition of revenue in accordance with accounting standards.
• Work with project managers to understand project milestones and revenue recognition criteria. 
• Review project contracts and agreements to understand financial implications.
• Monitor compliance with contractual terms related to billing, payment, and reporting. 
• Review and verify vendor invoices for accuracy.
• Schedule and process vendor payments promptly.
• Maintain relationships with vendors and resolve any issues. 
• Input and manage employee time and attendance data.
• Calculate wages, deductions, and taxes, ensuring compliance.
• Prepare and distribute payroll checks or direct deposits. 
• Conduct financial analysis on projects to identify trends, areas for improvement, and potential risks.
• Provide insights into the financial health of individual projects and the overall business. 
• Assist in the preparation for external and internal audits related to project finances.
• Provide necessary documentation and explanations during audit processes. 
• Maintain accurate and organized financial records for each project.
• Ensure compliance with accounting policies, procedures, and relevant regulations. 
• Collaborate with project managers, procurement teams, and other stakeholders to ensure a smooth flow of financial information.
• Communicate effectively with clients and vendors regarding financial matters related to projects.
• Identify opportunities for process improvement in project accounting procedures.
• Stay updated on industry best practices and changes in accounting standards. 
• Review payroll and arrange payments.
• Manage receivables, including invoicing, payments, and legal proceedings against clients in case of payment defaults.
• Manage payables, including issuing POs, invoices, payments, and legal proceedings for disputed vendors.
• Coordinate and review contracts with clients.
• Coordinate equipment required for job sites.
• Set up accounting systems and other software.
• Coordinate bonding facility and its renewal.
• Perform due diligence for business purchases.
• Provide necessary information for prequalification with clients.

Qualifications

• Bachelor’s degree in Accounting, Finance, or a related field.
• Strong preference for CPA designation
• 5-10 years of relevant experience in project accounting within the real estate or construction industry.
• Strong understanding of construction accounting principles and project cost management.
• Proficiency in financial modeling, budgeting, and forecasting for development projects.
• Excellent analytical skills with the ability to monitor and report on financial performance.
• Strong communication and interpersonal skills, capable of collaborating with project managers and stakeholders.
• Detail-oriented with exceptional organizational skills and the ability to manage multiple projects simultaneously.
• Proficient in accounting software and Microsoft Excel; experience with ERP systems is a plus.

We’re an equal opportunity employer committed to increasing diversity and inclusion in today’s workforce. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status. Minorities, women, LGBTQ candidates, and individuals with disabilities are encouraged to apply. If you require an accommodation, please review our accessibility policy and reach out to our accessibility officer with any questions.