SENIOR PROJECT ACCOUNTANT

Construction & Real Estate Development

 

1. Role Overview

• Position: Senior Project Accountant – Construction & Real Estate Development
• Employment Type: Full-time independent contractor, dedicated to one client engagement
• Work Arrangement: Fully remote
• Schedule: US Eastern Time business hours

2. Position Summary

We are seeking an experienced Senior Project Accountant to manage accounting operations for a multi-entity real estate development business and its affiliated general contractor (GC).

The ideal candidate has hands-on experience in construction or real estate development accounting, particularly with cost-plus billing, work-in-progress (WIP) accounting, intercompany transactions, and multi-entity financial reporting.

This role will serve as the primary accountant for the engagement, overseeing the reconstruction and cleanup of 2026 financial records, ongoing monthly accounting, accounts payable, cost-plus billing, reconciliations, and financial reporting.

The successful candidate must be highly organized, detail-oriented, and capable of managing multiple company files while maintaining accurate and timely financial records. They must also be comfortable working directly with the client's leadership team and coordinating with internal staff during the transition of accounting responsibilities.

3. Client and Business Structure

The client is a multi-entity real estate developer with an affiliated general contractor that builds the developer's projects on a cost-plus basis.

The business structure consists of:

• One holding company
• Five active project entities, each maintained in a separate QuickBooks Online (QBO) company file
• Five projects nearing completion, which remain in the holding company's books
• One general contractor (GC), maintained in a separate QBO company file connected to BuilderTrend

As new projects become active, they will be established as separate legal entities with their own accounting files. The number of entities is therefore expected to grow.

How Funds Flow Through the Business

1. Lenders fund individual project entities through construction draws.
2. Project entities fund the GC for approved project costs.
3. The GC pays subcontractors and suppliers against purchase orders in BuilderTrend.
4. The GC invoices each project entity monthly on a cost-plus basis, with charges allocated by cost code.

Scope of the Engagement

This company is responsible for two primary deliverables:

1. One-time accounting rebuild: Reconstruct and clean up January–September 2026 financial records across 11 entities.
2. Ongoing accounting operations: Manage monthly accounting, accounts payable, cost-plus billing, reconciliations, and financial reporting for the holding company, all active project entities, and the GC.

The Senior Project Accountant will be the primary accountant on the engagement. Additional support staff may be assigned by the client as transaction volume and business needs require.

4. Key Responsibilities

A. 2026 Accounting Cleanup and Rebuild

Reconstruct and validate the January–September 2026 accounting records across the relevant entities.

Responsibilities include:

• Establish QBO company files for the five active project entities and carry forward their opening balances as of December 31, 2025.
• Review, clean up, and reconcile the five projects nearing completion that remain in the holding company's books.
• Identify and transfer January–September 2026 transactions to the appropriate project entities.
• Reconcile all relevant bank, loan, and credit card accounts for 2026.
• Identify and record missing construction draws, deposits, transfers, and other transactions.
• Reclassify construction expenses to work in progress (WIP) where appropriate.
• Record 2026 construction costs billed by the GC in each project entity, allocated by cost code, including draws funded directly to the GC.
• Record investor contributions and distributions using the schedules provided by the client.
• Reconstruct intercompany balances among the holding company, project entities, and GC, ensuring reciprocal balances reconcile and intercompany differences are resolved.
• Review and clean up the GC's QBO file, including:
  • Reclassifying 2026 transactions by project and cost code.
  • Setting up each project entity as a separate customer.
  • Correcting the accounting treatment of the GC's fees.

B. Chart of Accounts and Cost-Code Management

• Maintain a consistent chart of accounts and cost-code structure across all project entities and the GC.
• Ensure the accounting structure is mapped appropriately to BuilderTrend.
• Follow the standard setup established by AXL MXMS.
• Maintain consistency as new entities and projects are added.

C. General Contractor Accounts Payable and BuilderTrend

Manage the GC's accounts payable process and maintain accurate records in BuilderTrend.

Responsibilities include:

• Enter approved commitments as purchase orders in BuilderTrend.
• Enter subcontractor and supplier bills against the appropriate purchase orders and cost codes.
• Prepare and process payments from the GC's bank accounts only after obtaining approval from the client's leadership.
• Follow the required dual-approval process for payments and transfers.
• Record payments in QBO and mark corresponding bills as paid in BuilderTrend.
• Set up vendors and collect W-9 forms.
• Prepare 1099 information and support year-end vendor reporting.
• Complete a structured handover and training process with the client's current staff before assuming full responsibility for BuilderTrend workflows.

D. Cost-Plus Billing

• Prepare monthly invoices from the GC to each project entity.
• Allocate charges by project and cost code.
• Present the GC's fees and supervision charges separately.
• Reconcile invoices against the funds transferred by each project entity.
• Investigate and resolve discrepancies between project costs, GC billings, and funding transfers.

E. Monthly Accounting and Close

Manage the monthly close process for the holding company, each active project entity, and the GC.

Responsibilities include:

• Maintain accurate and up-to-date accounting records across all company files.
• Reconcile bank, loan, and credit card accounts.
• Record and reconcile intercompany transactions.
• Capitalize eligible construction costs to WIP.
• Record custom-home deposits, installment payments, and change orders.
• Review account balances and resolve discrepancies before closing the books.
• Ensure cost-plus invoices and monthly financial reporting are completed on schedule.

F. Financial Reporting and Tax Preparation Support

• Prepare accurate monthly financial statements for the holding company and individual project entities.
• Ensure intercompany balances are properly recorded and reconciled.
• Produce job-cost reports by project and cost code.
• Support monthly financial review calls with the client.
• Prepare year-end accounting schedules and supporting documentation for the client's tax CPA.
• Ensure financial records are organized and ready for year-end tax preparation.

G. New Project Setup and Warranty Accounting

• Establish new QBO company files and BuilderTrend jobs when projects become active.
• Apply the standard chart of accounts, cost codes, and accounting structure to new projects.
• Record post-sale warranty expenses and related activity in the holding company's books.
• Maintain consistent accounting practices as the business expands.

5. First 90 Days and Key Deliverables

The role requires the candidate to balance the historical accounting cleanup with ongoing monthly accounting responsibilities.

Weeks 1–4: Onboarding and Initial Review

• Obtain access to QBO, BuilderTrend, and relevant bank portals.
• Understand the entity structure, transaction flows, and existing accounting records.
• Begin the 2026 accounting cleanup while establishing a reliable monthly close process.
• Identify missing transactions, reconciliation issues, and intercompany discrepancies.

Weeks 3–8: BuilderTrend Handover

• Complete the structured handover and training process with the client's staff.
• Assume responsibility for purchase order entry, bill entry, and payment processing.
• Establish consistent workflows for cost-code allocation, vendor documentation, and payment tracking.

By January 15, 2027: Rebuild Deliverables

Complete the January–September 2026 accounting rebuild, including:

• Balanced financial records for the relevant entities.
• Reconciled bank, loan, and credit card accounts.
• Reconstructed and reconciled intercompany balances.
• Construction costs recorded by project and cost code.
• Investor contributions and distributions recorded accurately.
• GC transactions and fee accounting reviewed and corrected.

By February 15, 2027: Final Cleanup and Tax Readiness

• Complete the remaining accounting cleanup.
• Confirm the accuracy of the 2026 balance sheet and supporting schedules.
• Resolve outstanding reconciliation and intercompany issues.
• Ensure the records are sufficiently complete and organized for the client's CPA to prepare tax returns.

Ongoing expectation: Monthly closes, cost-plus invoices, reconciliations, and financial reports must be delivered according to the agreed schedule throughout the engagement.

6. Systems and Tools

The candidate will work primarily with:

• QuickBooks Online: Multiple company files managed through QuickBooks Online Accountant.
• BuilderTrend: Construction project management and cost tracking, integrated with the GC's QBO file.
• Banking portals: Payment and transfer processing subject to dual approval.

The business may transition to a multi-entity accounting platform in the future, such as Intuit Enterprise Suite or Sage Intacct. Previous experience with these platforms is not required.

7. Required Qualifications

Candidates must have:

• Construction or real estate development accounting experience, including hands-on experience with:
  • Cost-plus billing.
  • Capitalization of construction costs to WIP.
• Experience managing intercompany transactions and reconciliations across multiple entities.
• Strong working knowledge of QuickBooks Online, preferably involving multiple company files.
• Experience with bank, loan, and credit card reconciliations.
• The ability to manage construction costs by project and cost code.
• Strong attention to detail and organizational skills, with the ability to manage multiple sets of books simultaneously.
• Professional written and spoken English suitable for direct communication with a client CFO and participation in financial review calls.
• Availability to work full-time during US Eastern Time business hours.

8. Preferred Qualifications

• BuilderTrend experience – highly preferred.
• Investor contribution and distribution accounting experience – highly preferred.
• Three or more years of relevant accounting experience.
• Familiarity with US GAAP and construction accounting practices.

A CPA license is not required.

9. Ideal Candidate Profile

The ideal candidate is a hands-on accounting professional who can take ownership of a complex, multi-entity construction accounting environment.

They should be comfortable investigating discrepancies, correcting historical accounting issues, reconciling intercompany balances, and maintaining accurate project-level financial records. They must be able to work independently, meet firm deadlines, and communicate clearly with client leadership.

This is not a basic bookkeeping role. The client needs someone with the technical knowledge and practical experience to manage construction accounting operations, complete a substantial historical cleanup, and establish a reliable monthly accounting process as the business continues to grow.