Accounting Associate, Project Accounting

About the Role

This position is fully responsible for the project accounting & billing process. It involves responding to Management inquiries, verifying employee billable time, and ensuring revenue leakages are avoided. This role acts as the front face with Operations staff on this account, ensuring compliance with Company Procedures and prescribed Accounting Practices & standards.

Key Responsibilities

• Set up new projects, open and close time classes in Oracle, apply transaction controls, budget, payment terms, and configure the contract in the Project Accounting System.
• Analyze and understand contract terms & conditions to ensure correct billing for T&M and Fixed Price projects.
• Understand the impact of price escalation or change notices as per contract conditions to prevent revenue loss.
• Effectively communicate with Project Managers (PM) and Principals-in-Charge (PIC) regarding contract documents, change orders, contract modifications, approvals, and additional services related to billing.
• Prepare final invoice packages, including draft and final invoices for all billable projects with applicable backup, for approval by the Accounting Supervisor.
• Ensure timely raising and submission of invoices to clients.
• Research unbilled issues to optimize billing possibilities for the billing period.
• Maintain project folders/files with all appropriate documents, including expenses, consultant invoices, and monthly invoices, in accordance with standard procedures.
• Work with the Accounts Receivable team to reconcile variances in cash application.
• Work with Accounts Payable team members where certain expenses are billable to clients at actuals.
• Generate and distribute profitability reports.
• Review weekly timesheets and monthly analyze the profitability of projects, performance units, or other assigned parameters.
• Provide year-end support for auditor requirements, including responding to queries and reporting/escalating matters of significance to the PA Supervisor.
• Perform additional assignments as directed by the Accounting Supervisor.
• Communicate and coordinate with all Jacobs offices.

Requirements & Tech Stack

• Strong technical knowledge of accounting standards, particularly revenue recognition.
• Experience working in a large, diverse organization with intersecting business processes.
• Strong understanding of Enterprise Resource Planning (ERP) systems, such as Oracle Financials.
• Strong verbal and written communications skills with the ability to work directly with all levels of the organization.
• Ability to work in a matrix reporting structure and proven success of partnering with organizational cross-functional teams.
• Hybrid working policy enabling split work between offices/projects and remote locations.

Qualifications

• Have a good understanding of accounting standards for revenue recognition.