Project Accountant

Job Summary

Our client is seeking a Project Accountant who will be responsible for the financial accounting, cost control, and reporting of the company’s construction projects. Working both at the head office and on site, the role ensures that project costs are accurately recorded, budgets are monitored, subcontractor and supplier payments are properly processed, and management receives timely financial information to support project decisions.

Key Responsibilities

• Record and reconcile all project costs, including materials, labor, plant and equipment, subcontractors and site overheads.
• Monitor actual costs against budget, identify variances and report them with explanations to the Project Manager and Finance Manager.
• Prepare monthly cost-to-complete and forecast reports for each project.
• Track plant and equipment usage and hire costs (own fleet and hired machinery) and allocate them correctly to projects.

Billing, Certification and Revenue

• Work with the quantity surveyor and engineers to prepare interim payment certificates and invoices to clients based on work done.
• Track retention, advance payment recovery, variations, claims and performance guarantees.
• Follow up on client payments and maintain an up-to-date record of receivables per project.
• Ensure revenue recognition is consistent with company policy and applicable accounting standards.

Payables, Subcontractors and Suppliers

• Verify supplier and subcontractor invoices against purchase orders, goods received notes and measured work before payment.
• Prepare payment schedules and process payments within approved limits and authority levels.
• Reconcile supplier and subcontractor statements and track retention held.
• Maintain accurate records of subcontractor agreements, advances and certified work.

Site Financial Management

• Spend regular time on site to verify deliveries, stock, fuel usage, timesheets and equipment hours against records.
• Carry out periodic stock counts of materials and fuel at site stores and reconcile them with the books.
• Manage the site petty cash, and ensure supporting documents are complete.
• Process site payroll inputs (casual labor, attendance and wages) and ensure correct payment.
• Train and guide site storekeepers, timekeepers and clerks on documentation and financial controls.

Compliance, Reporting and Audit

• Prepare monthly project financial reports, cash flow forecasts and management accounts inputs.
• Ensure timely computation and filing of statutory obligations related to projects, including VAT, withholding tax, PAYE and social security contributions.
• Support internal and external audits and respond to audit queries on project records.
• Maintain proper filing of project financial documents, both physical and electronic.
• Support the closing of project accounts, final accounts and handover documentation.

Internal Controls and Risk

• Enforce company financial policies and procedures at head office and on site.
• Identify cost overruns, leakages, fraud risks and control weaknesses, and recommend corrective action.
• Support the Finance Manager in cash flow planning and funding requirements for projects.

Qualifications and Experience

Education

• Bachelor’s degree in accounting, Finance, Commerce or a related field.
• Professional qualification such as CPA, ACCA or equivalent (completed or at an advanced stage).

Experience

• Minimum of 3 to 5 years of accounting experience, with at least 2 years in a construction, civil engineering or road works environment.
• Experience with project costing, BOQs, interim payment certificates, retention and subcontractor accounting.
• Experience working on site or in a project environment is a strong advantage.

Skills and Competencies

• Strong knowledge of construction and project accounting, cost control and IFRS.
• Good understanding of tax and statutory compliance (VAT, withholding tax, PAYE).
• Proficiency in accounting software (e.g., QuickBooks, Sage, SAP, Tally or similar) and advanced Microsoft Excel.
• Ability to read and interpret BOQs, contracts and project schedules.
• Strong analytical, reconciliation and reporting skills.
• Good communication skills and the ability to work with engineers, surveyors, site staff and management.
• High integrity, attention to detail and the ability to work under pressure and meet deadlines.

Key Performance Indicators

• Accuracy and timeliness of monthly project financial reports.
• Budget variance reporting and cost overrun control.
• Timely submission of payment certificates and collection of receivables.
• Clean audit results with minimal queries.
• Compliance with statutory deadlines.
• Reconciliation of site stock, fuel and petty cash with minimal discrepancies.