Accounting Manager

Job Summary

The Accounting Manager is responsible for managing the company’s accounting operations, financial reporting, project cost control, budgeting, taxation, cash-flow monitoring, and regulatory compliance.

The position ensures that financial transactions are accurate, properly documented, and recorded on time. The Accounting Manager also provides management with reliable financial information for decision-making and monitors the financial performance of each construction project.

Key Responsibilities

1. Financial Accounting and Reporting

• Manage the company’s general accounting operations, including accounts payable, accounts receivable, general ledger, payroll accounting, and fixed assets.
• Prepare accurate monthly, quarterly, and annual financial statements.
• Ensure that all transactions are recorded correctly and supported by complete documentation.
• Review journal entries, account reconciliations, adjusting entries, and closing schedules.
• Maintain an updated chart of accounts appropriate for construction operations.
• Submit management reports within established deadlines.
• Explain significant variances, unusual transactions, and changes in financial performance to management.

2. Construction Project Accounting

• Establish and maintain separate cost records for every construction project.
• Monitor actual project costs against the approved budget and contract amount.
• Track expenses by project, cost code, work category, and construction phase.
• Monitor labor, materials, equipment, subcontractor, mobilization, and overhead costs.
• Coordinate with project managers, engineers, quantity surveyors, procurement personnel, and warehouse staff to validate project expenses.
• Prepare project cost reports, profitability reports, and cost-to-complete forecasts.
• Identify cost overruns, unrecorded liabilities, budget variances, and potential financial risks.
• Monitor project advances, revolving funds, cash advances, and liquidation reports.
• Ensure that project costs are charged to the correct project and cost category.

3. Progress Billings and Collections

• Review and monitor client progress billings, accomplishment reports, variation orders, retention receivables, and other contract-related billings.
• Verify that progress billings are consistent with approved accomplishments and contract terms.
• Coordinate with the project team and clients regarding billing documentation and requirements.
• Maintain an accounts receivable aging report and monitor collection commitments.
• Follow up outstanding receivables, retention amounts, and other client balances.
• Ensure that collections are properly recorded and deposited promptly.
• Report collection delays and their effect on project cash flow to management.

4. Accounts Payable and Subcontractor Accounting

• Review supplier and subcontractor billings before payment.
• Verify purchase orders, contracts, delivery receipts, receiving reports, accomplishment certifications, and invoices.
• Monitor subcontractor progress billings, advances, retention payables, back charges, and deductions.
• Ensure that payments follow approved payment terms and company authorization procedures.
• Prepare and maintain accounts payable aging schedules.
• Prevent duplicate payments, unsupported disbursements, and unauthorized purchases.

5. Budgeting and Cash-Flow Management

• Lead the preparation of the company’s annual operating budget.
• Work with project teams in preparing project budgets and cash-flow forecasts.
• Prepare weekly and monthly cash-flow projections.
• Monitor available cash, upcoming obligations, payroll requirements, supplier payments, and project funding needs.
• Recommend payment priorities based on operational requirements and available funds.
• Compare actual results with approved budgets and explain major variances.
• Support management in evaluating project profitability, pricing, and financial feasibility.

6. Taxation and Regulatory Compliance

• Ensure compliance with applicable Bureau of Internal Revenue, Securities and Exchange Commission, local government, and other regulatory requirements.
• Review tax returns, withholding taxes, value-added tax records, and supporting schedules before filing.
• Ensure that taxes and statutory obligations are filed and paid accurately and on time.
• Coordinate with external accountants, auditors, tax consultants, government agencies, and legal advisers when necessary.
• Maintain complete accounting books, tax records, permits, and supporting documents.
• Monitor changes in accounting and tax regulations affecting the company.

7. Internal Controls and Audit

• Develop, implement, and improve accounting policies and internal control procedures.
• Ensure proper segregation of duties, approval limits, and documentation requirements.
• Review petty cash, project funds, inventory records, tools, equipment, and company assets.
• Conduct or coordinate periodic project and office financial audits.
• Investigate discrepancies, irregular transactions, missing documents, and control weaknesses.
• Recommend measures to prevent fraud, financial losses, cost leakage, and unauthorized transactions.
• Prepare schedules and documents required for internal and external audits.

8. Inventory, Materials, and Asset Accounting

• Coordinate with procurement, warehouse, and project teams to reconcile material purchases, deliveries, issuances, transfers, and returns.
• Monitor construction materials charged to each project.
• Review inventory counts and investigate discrepancies.
• Maintain accurate records of vehicles, machinery, construction equipment, office equipment, and other fixed assets.
• Monitor asset acquisition, depreciation, transfer, disposal, and repair costs.
• Ensure that idle, damaged, missing, or disposed assets are properly reported and documented.