Project Accounting Associate

Job Summary

The Project Accounting Associate handles project cost reporting and monitoring across assigned projects. The role is responsible for preparing monthly project job costing reports, ensuring accurate recording and charging of project-related transactions, and maintaining proper documentation for all project costs. The position supports the migration of project data to new accounting systems and monitors actual project disbursements versus approved budgets to ensure cost control and reporting accuracy. It also ensures completeness and accuracy of project financial records through proper encoding, validation, and reconciliation of cost-related information. In addition, the role serves as the primary point of contact for queries related to project cost payments and job cost reports, coordinating with internal teams to resolve discrepancies and ensure timely and accurate financial reporting.

Duties and Responsibilities

A. Project Financial Monitoring and Reporting

· Encode, validate, and reconcile project financial data to ensure accuracy, completeness, and consistency across reports and systems.

· Prepare and update basic project financial reports, including income statements, cash flow summaries, and job costing schedules, for review by supervisors or managers.

· Support job costing activities by tracking project expenses and assisting in identifying variances between actual costs and approved budgets.

· Coordinate with internal teams (e.g. Project Development, Cost Monitoring, and Finance) to gather required financial data and resolve discrepancies.

· Assist in maintaining project cost-to-complete records and other supporting schedules used for financial analysis and reporting.

· Assist in monitoring project financial performance throughout the project lifecycle by maintaining accurate records of revenues, costs, budgets, and forecasts.

B. Month-End Closing and Audit Support

· Assist in the preparation of month-end and year-end closing activities for project-related accounts, ensuring timely and accurate recording of financial transactions.

· Support the reconciliation of key accounts, including revenues, costs, contract assets and liabilities, inventories, reserves, and cost-to-complete balances.

· Prepare and organize schedules, reports, and supporting documents required for financial closing and reporting.

· Coordinate with internal teams to ensure completeness and accuracy of financial data during the closing process.

· Provide basic support to internal and external auditors by preparing required documents and responding to audit queries.

C. Project Close-Out Governance

· Assist in the project close-out process by ensuring completeness and accuracy of project financial records, including revenues, costs, and related adjustments.

· Support the validation of actual project costs against approved budgets and forecasts through data gathering and basic reconciliation activities.

· Prepare supporting schedules and reports related to project close-out for review by supervisors and managers.

· Coordinate with internal teams (e.g., Project Development, Cost Monitoring Group, and Accounts Payable) to help ensure all project transactions, accruals, and settlements are properly recorded prior to closure.

· Assist in identifying basic cost variances and compiling initial project performance data for close-out reporting.

D. Process Improvements and Digital Transformations

· Assist in the implementation of process improvement initiatives to enhance project financial reporting efficiency and accuracy.

· Support system-related activities such as data encoding, validation, and reconciliation during migrations and enhancements (e.g., FREBAS and Oracle).

· Assist in testing, documentation, and basic user acceptance activities for reporting tools and system updates

· Help ensure the accuracy and consistency of financial data across systems and reports by performing regular checks and validations.

· Coordinate with Finance and IT teams to address basic data issues and support the resolution of system-related concerns.

Technical Competencies and Skills

• Working knowledge of real estate accounting principles and financial processes. • Understanding of ERP systems (e.g., SAP, Oracle, or similar). • Proficiency in MS Office and documentation tools. • Strong analytical

Education, Trainings and Licenses Required

BS Accountancy