Project Accountant - Construction

Confidential Company

The Project Accountant is responsible for managing the financial performance of the company’s construction projects, encompassing budgeting, cost control, billing, cash flow monitoring, and financial reporting. The role works closely with Project Managers, Procurement, and Site Teams to ensure accurate financial management, compliance with company policies, and adherence to UAE regulatory requirements throughout the project lifecycle.

A. Budget Management and Cost Control

• Develop, monitor, and maintain project budgets and cost forecasts; track project expenses against approved budgets and prepare Budget vs. Actual variance analyses to identify and report cost overruns in a timely manner.

• Review contracts and purchase orders for assigned projects; review and approve project–related expenses and vendor invoices in line with contract terms and company policies.

• Maintain accurate records of all project costs including materials and subcontractors in the ERP system; monitor subcontractor and supplier payments in line with project progress and contractual obligations.

• Track retention amounts, advance payments, and bank guarantees and securities for all assigned projects; ensure all financial commitments and obligations are recorded, monitored, and managed within agreed terms.

  
  

B. Billing, Cash Flow and Revenue Management

• Manage project billing and issue client invoices accurately and on time; ensure revenue is recognized in accordance with contract terms and project progress, and collaborate with project teams to align financial data with site progress.

• Track and monitor project cash flow on an ongoing basis; prepare monthly project reports including cash flow statements and project profit and loss accounts to provide management with a clear view of each project’s financial position.

• Reconcile project accounts including receivables and payables; coordinate with Project Managers, Procurement, site teams, and the Head Office Accounts team to ensure financial data is accurate, current, and consistent across all systems.

  
  

C. Reporting, Compliance and Period-End Support

• Prepare financial reports for senior management including project profitability analysis and margin analysis; provide clear, data–driven insights to support project–level and portfolio–level decision–making.

• Ensure compliance with UAE VAT regulations, WPS payroll requirements, and applicable construction accounting standards; support month–end and year–end closing activities related to assigned projects.

• Ensure proper documentation is maintained for all project financial transactions to meet audit and compliance requirements; provide well–organized records and reports to internal and external auditors as required.