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For Companies At a Glance
- Tasks: Manage project accounting from start to finish, ensuring accuracy and compliance.
- Company: Join a world-renowned architectural design consultancy with a global footprint.
- Benefits: Enjoy a permanent role with opportunities for professional growth and development.
- Why this job: Be part of a dynamic team that values innovation and efficiency in project management.
- Qualifications: 5+ years in project accounting; proficiency in ERP systems and Microsoft Office required.
- Other info: This is a newly created role, offering a chance to shape the future of project accounting.
The predicted salary is between 48000 - 72000 ÂŁ per year.
Cobalt Recruitment are excited to be supporting a world-renowned and award-winning architectural design consultancy with a global presence to secure a Senior Project Accountant for their London office. The role is newly created and will play a leading part in the revenue accounting, WIP reporting and budget management of the business.
Key Responsibilities:
- Review project WIP, revenue, backlog, budget variances, and profitability, and ensures all billable expenses are billed; tracks latest comments on project and WIP status.
- Lead project health reviews with PMs and SLs.
- Review weekly Net Service Revenue (NSR) reports to ensure revenue is captured by the correct projects/phases and makes revenue adjustments and/or transfer efforts.
- Perform quarterly internal spot audits of select projects, reviews project setup for accuracy, analyzes project costs in relation to contract budgets and contract terms.
- Provide endâtoâend project accounting management from project creation to closeâout contracts.
- Review project contracts for financial details to ensure compliance with the project.
- Set up projects in the accounting system, liaising with Project Managers (PM) and Senior Leaders (SL) regarding budgets (fee flows); phase set up to assist with project monitoring for the life of the project.
- Maintain contract paperwork and files, invoices, aging A/R, change orders, vendor and sub-contractor documents, and other specified logs for project tracking.
- Prepare client fees, expenses, consultant invoices, account statements, reports, and other records.
- Post cash receipts and sends notifications to relevant parties, logging and reporting details daily.
- Responsible for billing and cash flow projections.
- Lead and coordinate collection efforts with PMs and SLs; initiates stopâwork procedures and thirdâparty collections efforts to minimize company exposure.
- Prepare and sends weekly collections reports to Managing Director, Project Managers, and Senior Leaders.
- Perform Accounts Payable (AP) duties, including coding and posting vouchers, coordinating reviews and approvals, researching vendor payment inquiries, and updating tracking file for PayâWhenâPaid (PWP) consultants.
- Pull vouchers for weekly PWPs and updates PWP tracking.
- Notify PWP consultants of their invoice payments.
- Biâmonthly, updates PWP status report on SharePoint after payments have been paid and posted in the accounting system.
- Reconcile monthâend PWP tracking versus PWP disbursed files.
- Review phases in PowerâBi to make sure backlog is available for phases being coded to prior posting vouchers in the accounting system.
- Enter ICs timecards when treated as labour.
AdâHoc Tasks:
- Implement and executes proper controls to proactively support, monitor and communicate budget, actual status, and labor hours, consultants, and expenses for projects; develops and issues timely reports.
- Identify opportunities and areas for improvement, offers suggestions, and implements procedures, processes or tools to improve efficiency and productivity.
- Perform additional accounting responsibilities and supports special projects and adâhoc analyses.
Required Experience:
- Minimum of 5 years in a midâsized professional services organization with project (revenue) accounting duties.
- Proficient in Microsoft Office, accounting software, order processing, databases.
- Experience with using ERP systems is a must.
- Proficient in general ledger, accounts receivable, and accounts payable.
- Excellent written and verbal communication skills.
- Strong interpersonal skills and diplomacy.
- Must handle confidential information in a highly sensitive manner.
Senior Project Accountant employer: Cobalt Recruitment
Contact Detail:
Cobalt Recruitment Recruiting Team
StudySmarter Expert Advice đ¤Ť
We think this is how you could land Senior Project Accountant
â¨Tip Number 1
Network with professionals in the architecture and design industry. Attend relevant events or webinars where you can meet potential colleagues or leaders from firms like the one we're hiring for. Building these connections can give you insights into the company culture and possibly even a referral.
â¨Tip Number 2
Familiarise yourself with the specific accounting software and ERP systems commonly used in architectural firms. If you have experience with similar tools, be ready to discuss how your skills can transfer to their systems during any interviews.
â¨Tip Number 3
Prepare to demonstrate your understanding of project accounting principles, especially in relation to WIP reporting and budget management. Think of examples from your past work where you've successfully managed these aspects and be ready to share them.
â¨Tip Number 4
Research the companyâs recent projects and achievements. Being knowledgeable about their work will not only impress during interviews but also help you articulate how your skills align with their needs and goals.
We think you need these skills to ace Senior Project Accountant
Some tips for your application đŤĄ
Tailor Your CV: Make sure your CV highlights relevant experience in project accounting, particularly in a professional services environment. Emphasise your proficiency with ERP systems and any specific software mentioned in the job description.
Craft a Compelling Cover Letter: Write a cover letter that directly addresses the key responsibilities outlined in the job description. Use specific examples from your past experience to demonstrate how you meet the requirements, such as managing budgets or performing audits.
Highlight Relevant Skills: In your application, clearly outline your skills in financial reporting, budget management, and communication. Mention your ability to handle confidential information sensitively, as this is crucial for the role.
Proofread Your Application: Before submitting, carefully proofread your CV and cover letter for any spelling or grammatical errors. A polished application reflects attention to detail, which is essential for a Senior Project Accountant.
How to prepare for a job interview at Cobalt Recruitment
â¨Know Your Numbers
As a Senior Project Accountant, you'll be dealing with financial data daily. Brush up on your knowledge of revenue accounting, WIP reporting, and budget management. Be prepared to discuss specific examples from your past experience where you successfully managed these aspects.
â¨Familiarise Yourself with ERP Systems
Since experience with ERP systems is a must for this role, make sure you can talk confidently about the systems you've used in the past. Highlight any specific projects where you implemented or improved processes using these tools.
â¨Demonstrate Strong Communication Skills
This role requires excellent written and verbal communication skills. Prepare to showcase your ability to communicate complex financial information clearly, especially when discussing project health reviews with PMs and SLs.
â¨Showcase Your Problem-Solving Abilities
The job involves identifying opportunities for improvement and implementing new procedures. Think of examples where you've successfully identified issues and proposed solutions in previous roles, particularly in a project accounting context.
