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Project Cost Accountant

at Ilitch Companies

Posted: 2/22/2019
Job Reference #: 530767

Job Description


Job Description
The Project Cost Accountant is responsible for all aspects of project cost accounting and tracking large development projects, including but not limited to: tracking costs in job cost database, monthly reporting to controller and senior management, reconciling to budget and ledger, preparing funding requests and payment draw schedules, and updating budget/current costs daily.  This position will lead the identification and implementation of the project cost database software used to track the development projects (Yardi and eBuilder). 
Key Responsibilities:
  1. Enters job cost budgets and creates reports for new projects. 
  2. Responsible for all project accounting (i.e. accounts payable, funding requests, draw packages).
  3. Tracks and updates budgets for approved change orders and budget transfers.
  4. Timely preparation, review and distribution of monthly financial reporting packages for all funding requests and draw requests.
  5. Coordinates the payment to contractors and suppliers when construction draws are funded. Maintains payment draw files and invoice files.
  6. Creates all monthly progress reports and job cost reconciliations between systems and close out reconciliations for projects.
  7. Works with the controller to complete the monthly accounting close process.
  8. Understands contract terms and conditions, is knowledgeable of contractual requirements, and recognizes discrepancies.
  9. Follows up with contractors, subcontractors, and vendors to obtain missing and/or corrected information so that invoices are processed and paid in a timely manner.
  10. Assists with the accounts payable function for the development/construction projects.  Ensures all subcontractors and vendors meet all requirements of contract agreement prior to any payouts.
  11. Responsible for being the point person on the Job Cost Module in Yardi.
    1. Implementation of job cost module in Yardi.
    2. Maintain eBuilder system data and manage all data entry.
    3. Review chart of categories and recommend any necessary adjustments.
  12. Provides ad hoc reporting as required by the CFO, Controller and Senior Management.
  13. Other duties as assigned.
Minimum Knowledge, Skills and Abilities:
  1. Bachelor's degree in Accounting, CPA or CMA preferred.
  2. Minimum of (5) five years of project cost accounting experience, working on highly complex real estate and/or construction projects.
  3. Experience in accounting procedures, internal controls (implementing, monitoring, enhancing) and database management.
  4. Proven experience with AIA construction billing documents, lien waivers, accounts payable applications, funding requests, cash flow analysis, and account reconciliations.
  5. Knowledge and understanding of project cost structure, job cost, and construction processes, and be able to apply this information to cost code invoices and effectively track project costs.
  6. Must have a strong cost systems background with excellent analytical skills and detail orientation. 
  7. Possess current industry accounting knowledge with the ability to apply knowledge of Generally Accepted Accounting Principles (GAAP) & Cost Accounting Standards.
  8. Must be able to effectively handle multiple projects simultaneously, highly organized and thorough in completion of tasks.  Strong work ethic, self-starter, with the ability to thrive in a fast-paced environment that requires prioritizing and performing with a high degree of accuracy while under tight deadlines.
  9. Excellent communication skills, both written and verbal. 
  10. The ability to collaborate with staff, vendors and contractors effectively.   
  11. Experience in evaluating, recommending and implementing cost accounting technology.
  12. Knowledge and experience with implementing construction cost accounting best practices.
  13. Experience in project scheduling.
Working Conditions:
  1. Works in a normal office environment.
  2. Extended work hours as needed.

Req Number


Position Type

Functional Area
Finance & Accounting


Posted Job Title
Project Cost Accountant

Business Unit
Olympia Development