Construction Accountant

Construction Accountant

Rainey Design Group LLC · Hayden, Idaho

The role

We design and build homes in North Idaho, , and we also hold and develop real estate across several entities. You would own the accounting for all of it.

This is a construction accounting job, not general bookkeeping. If you have not built a WIP schedule, worked with lender draws or chased a lien waiver before, this is not the right fit.

Responsibilities

WIP and job costing

• Maintain the work-in-progress schedule: cost to date, estimated cost to complete, percentage of completion, over and under billings, and the gross profit fade or gain on every open job
• Reconcile job cost to the general ledger monthly and explain every variance between the budget, the committed cost and the actual
• Flag jobs trending over budget early enough to do something about it, not at closeout
• Track committed cost against purchase orders and report what is left uncommitted on each job

Accounts payable

• Process subcontractor and supplier invoices against their purchase orders on a strict monthly cycle: invoices in by the 25th, payment released by the 10th
• Refuse any invoice that is not billed against an open purchase order, and refuse any payment to a subcontractor whose certificate of insurance, workers compensation or Idaho contractor registration has lapsed
• Collect conditional and unconditional lien waivers each cycle and hold payment until they are in hand
• Apply backcharges, holdbacks and retainage, and maintain the documentation behind each one
• Keep the vendor file current: W-9s, insurance expiration dates, license renewals, 1099 preparation at year end

Accounts receivable and lender draws

• Prepare owner billings on cost-plus jobs, with the supporting cost detail the contract requires
• Assemble construction loan draw packages, reconcile the draw to the budget and the inspection, and track interest reserve burn against the remaining term
• Track receivables, deposits, allowances and change orders, and follow up on anything past due

QuickBooks and the close

• Own QuickBooks across all entities: chart of accounts, job cost structure, bank and credit card reconciliation, payroll entries, monthly close
• Keep QuickBooks and the project management system in agreement — budgets, purchase orders, bills and payments reconciled between the two
• Produce a monthly package: profit and loss by job and by entity, WIP schedule, balance sheet, cash position and a thirteen-week cash forecast
• Work with the outside CPA on year-end, tax provisioning and any review or audit request

Real estate basis and entities

• Track capitalized basis on land and development projects: acquisition, carrying cost, soft cost, improvements, capitalized interest
• Allocate common development cost across lots and phases, and maintain the per-lot basis schedule through closings
• Maintain clean books for each entity, with correct intercompany entries and allocations between them
• Prepare the schedules a lender, partner or buyer will ask for

Experience required

• Three or more years of accounting inside a construction company, a homebuilder or a real estate developer
• You have built and maintained a WIP schedule and can explain percentage of completion, over and under billings, and profit fade without looking it up
• Strong job costing: you understand the difference between a budget, a committed cost and an actual, and you know why the three disagree
• QuickBooks at an administrator level, including job costing and multi-entity books
• Lien waiver, certificate of insurance and contractor license compliance in a payables cycle
• Excel beyond the basics — you can build a schedule, not just fill one in
• You are comfortable telling the owner a job is losing money

Helpful, not required

• JobTread, Buildertrend, Procore or similar construction management software
• Construction loan draw administration with a private or hard money lender
• Capitalized basis and cost segregation on development projects
• Idaho sales and use tax as it applies to construction
• A degree in accounting, or a CCIFP

Compensation and schedule

$60,000 to $75,000 per year, depending on experience. Full time, in our Hayden office. Some flexibility on hours once the monthly cycle is running cleanly.

This is the only accounting seat in the company. You will not be one of six people in a department — you will be the person who knows where the money is.

Pay: $60,000.00 - $75,000.00 per year

Benefits:

• Paid time off

Work Location: In person