Construction Accountant

Overview

We are seeking an experienced Construction Accountant with a strong background in the construction industry. This position will be responsible for day-to-day accounting activities related to construction projects, including project costing, progress billing, accounts receivable and payable, payroll administration, bookkeeping, and financial reporting.

The successful candidate should have hands-on experience with construction billing, CCDC contracts, Schedule of Values (SOV), holdbacks, change orders, job costing, WIP reporting, and full-cycle bookkeeping.

Duties

1. Progress Billing & Contract Financial Management

• Prepare and submit monthly Progress Draws / Progress Billings in accordance with contractual deadlines.
• Manage billing related to CCDC contracts and Schedule of Values (SOV).
• Accurately track the 10% holdback, including both current-period and accumulated holdback amounts.
• Monitor holdback release dates and prepare the required documentation to ensure eligible holdbacks are released in a timely manner.
• Track all approved and pending Change Orders.
• Ensure approved Change Orders are accurately and promptly incorporated into the appropriate Progress Billing.
• Reconcile Progress Billing, Change Orders, Holdbacks, payments received, and outstanding balances by project.

2. Project Costing & Financial Reporting

• Perform Job Costing for all active construction projects.
• Ensure labour, materials, subcontractors, equipment, and other project-related costs are accurately allocated to the appropriate Project / Job / Cost Code.
• Prepare monthly Project Profit & Loss (P&L) Statements for each project.
• Prepare and maintain monthly Work-in-Progress (WIP) Reports.
• Perform Budget vs. Actual Cost analysis for each project.
• Forecast estimated final project costs, profitability, and Gross Margin.
• Identify cost overruns, missing or understated costs, declining margins, and other financial discrepancies in a timely manner.
• Report significant project financial issues to management.
• Work closely with Project Managers to ensure project financial information is complete, accurate, and updated on a timely basis.

3. Accounts Receivable & Collections

• Maintain accurate Accounts Receivable (AR) records.
• Review the AR Aging Report weekly.
• Follow up promptly on due and overdue accounts.
• Follow up on unpaid Progress Draws and invoices.
• Accurately record customer payments and apply them to the correct invoices and projects.
• Report significantly overdue or potentially high-risk receivables to management.4 Accounts Payable
• Enter supplier and subcontractor invoices.
• Accurately allocate AP invoices to the appropriate Project, Cost Code, and Expense Account.
• Review invoices and supporting documentation for accuracy and completeness.
• Maintain accurate financial records for suppliers and subcontractors.
• Assist with payment preparation and AP reconciliation.

4. Payroll Administration

• Monitor payroll tax and compliance requirements, including verifying that CRA remittances processed through ADP reconcile with the PD7A.
• Verify that annual CPP and EI rate changes are properly updated in the payroll system.
• Maintain payroll records, including pay statements, tax remittance records, and other supporting documentation.
• Ensure project-related labour costs are accurately allocated to the appropriate Project / Job / Cost Code.
• Maintain complete and accurate payroll files and records.
• Review ADP-generated T4s and T4 Summary for accuracy before distribution to employees and filing.

5. Full-Cycle Bookkeeping & Month-End

• Perform the company's Full-Cycle Bookkeeping using QuickBooks.
• Maintain an accurate General Ledger.
• Complete Bank Reconciliations.
• Complete Credit Card Reconciliations.
• Complete AP / AR Reconciliations.
• Prepare month-end journal entries and adjustments as required.
• Complete the Month-End Close accurately and within company deadlines.
• Ensure all accounting records, invoices, supporting documents, and financial documentation are complete, organized, and traceable.

Qualifications & Requirements

1. Minimum 5 years of accounting experience in the construction or engineering industry.

2. Hands-on experience in:

• Progress Billing / Progress Draw
• CCDC Contracts
• Schedule of Values (SOV) Billing
• Holdback Tracking & Release
• Change Order Tracking & Billing
• Job Costing
• WIP Reporting
• Accounts Receivable & Collections
• Accounts Payable
• Full-Cycle Bookkeeping

3. Hands-on experience with ADP Payroll Processing / Payroll Administration.

4. Strong proficiency in QuickBooks.

5.Ability to independently prepare Project P&L statements and perform Budget vs. Actual Cost analysis.

6.Ability to forecast project profitability and Gross Margin.

7.Strong numerical aptitude with excellent accuracy and attention to detail.

8.Strong organizational and time-management skills.

9.Ability to manage the financial activities and billing deadlines of multiple construction projects simultaneously.

10. Mandarin speaking candidate is preferred.

Join us in a role that combines technical expertise with energetic problem-solving! Your contributions will directly impact our projects’ financial health while offering opportunities for professional growth in a vibrant work environment.

Pay: $48,000.00-$60,000.00 per year

Benefits:

• Casual dress
• Company events
• Dental care
• Extended health care
• Life insurance
• On-site parking
• Paid time off
• Vision care

Work Location: In person