Careers >> Manager, Project Accounting
Manager, Project Accounting
Title:Manager, Project Accounting
Graycor Company:Graycor Services
Location:Oakbrook Terrace, IL
Job Function:Accounting


As Project Accounting Manager for Graycor Services, you will manage and coordinate the project accounting function and the proper execution and documentation of contract and financial reporting activities for all Company projects. Over time, secondary responsibility includes being a back up for Manager of Financial Reporting which requires understanding of the month end close and financial reporting process of the Graycor Companies.


The Project Accounting Manager reports to the CFO.  


With Graycor, You Will Have the Opportunity to:


  1. Develop and maintain a structured process around project accounting activities (Project Set Up/Costing/Billing/Collections/Reporting). Ensure documentation and reports are adequately reviewed and all transactions are in compliance with internal policies and procedures, accounting principles and client billing procedures.
  2. Hire, train, manage, mentor and develop project accounting staff located at the home office and remote project locations; coach and guide staff to resolve issues as needed.
  3. Over time, potentially become a back up to the Manager of Financial Reporting and be able to understand the requirements of the month end close process and financial reporting process.
  4. Assure that all aspects of a project lifecycle are being managed by team:
    1. Project Set up/Closures:
      1. Ensure all financial activities and requirements relating to project start-up and close-outs are carried out in a timely manner.
      2. Participate in project review meeting with Project Management and Vice Presidents/General Managers as needed.
    2. Project Invoicing
      1. Work with Project Managers and Project Accountants to:
        1. Ensure the accuracy of project billings and ensuring compliance with contract terms.
        2. Monitor that change orders are being invoiced properly and timely
        3. Ensure all monthly project invoices are prepared and issued to clients and provided to the Accounts Receivable department on a timely basis.
      2. Approve Project Invoices for all companies/including lien waivers. Monitor transmittal of waiver/affidavit packages.
      3. Responsible for accounts receivable tracking, management, and reporting and dashboard set up through company ERP/PM software.


    1. Job Costing
      1. Process payment applications and invoices through job costing at the requests of Project Management and Vice Presidents/General Managers.
  1. Review and post job costs accurately, ensure cost types and classifications are accurate for historical control. Confirm rates are up to date on T&M projects.
  2. Work with project management staff ensuring proper compliance with accounting procedures including reviewing and analyzing job cost estimates and reports monthly.
  3. Perform project audits to:
    1.    Review cost and billing detail on projects to ensure projections are accurate.
    2. Ensure cost types and classifications are accurate for historical control.
  4. Report on project costs related to budgeted amounts with impact on project profitability monthly, quarterly and annually.
  5. Work with project accountants/project managers and Finance Manager for GIC/GCC/GSI to assure projections are accurate and risks and upsides on projects are being discussed transparently.
    1. Vendor/Subcontractor
      1. Supervise subcontractor payables work of project accountants, by verifying that Company and customer requirements are conveyed to subcontractors, assisting project accountants to obtain approved invoices and change orders from project managers as required, monitoring timely and accurate processing of subcontractor invoices, enforcing trailing subcontract and lower tier waiver requirements, reviewing subcontractor checks for proper payment based on backup support, previous payment information and Company receipt of payment from customer,  monitor via transaction reports that all reimbursable costs are billed.
    2. Payroll Tracking
      1. Understand payroll process for salaries and hourly employees (union & non-Union) and the responsibilities associated with project accounting team vs payroll team. Assure project accounting team performs their hourly payroll activities timely to assure payroll is able to be processed on time.
      2. Support the layoff/pay activities at job sites and ensure site specific onboarding process are being managed.
      3. Work closely with Payroll department to streamline activities related to payroll.
  1. Support Project Accountants, Business Unit Finance Managers and Project managers with monthly projections (Revenue/Profit/WIP). Assist in training of project managers as it relates to projections.
  2. Responsible for understanding the impact of all transactional activities performed by Project Accounting team on the reporting of job profitability and reporting of divisional/company results being generated by Finance Managers.
  3. Manage all customer/client audits with the support of your team.
  4. Ensure the maintenance of monthly cash flow forecasting for all projects with the coordination of CFO/Manager of Business Unit Finance.
  5. Ensure The Graycor Way (specifically for the Cost Management Process) is followed and support accuracy of information used Procore and InEight systems (tools for revenue/cost tracking on jobs).
  6. Ensure a high level of communication of financial project management information to Company leadership, Divisional Managers, Business Unit Finance Managers, Corporate Accounting and other internal customers.
  7. Achieve project budget objectives by scheduling expenditures, analyzing variances, initiating corrective actions
  8. Provide status of financial conditions by collecting, interpreting and reporting financial data.
  9. Formulate recommendations for management’s consideration and possible implementation.


To Be Successful in This Role, You Will Need:


  • Minimum of ten years of previous accounting experience required; minimum of six years of construction project accounting (both field and office) experience required.  
  • Undergraduate degree with a concentration or extended course work in finance, accounting, business management or other relevant discipline required.  
  • Desired - Knowledge of US GAAP and experience preparing financial statements (balance sheet, income statement/cashflows) as future back up for reporting manager activities.
  • Continuous Improvement mindset to challenge ways of doing things on a consistent basis.
  • Strong customer service orientation and communication skills, both verbal and written, with the ability to partner effectively with all levels of staff and management with varying degrees of financial knowledge.
  • Strong financial and business acumen combined with interpersonal and leadership skills. 
  • Previous experience managing project accounting, timekeeping or administrative staff located at remote project locations preferred.
  • Strong Team Management Skills – Previous experience managing a diverse team is a must.
  • Commitment to recruiting, mentoring, training, and retaining a diverse team; the foresight and ability to delegate accordingly.
  • Advanced Excel skills required. Previous experience with JD Edwards, Crystal Report Writer, Great Plains, iCIMS, or Timberline software is a plus. Experience using financial report writer tools beneficial.
  • Proficiency with Microsoft Office (Outlook, Word, PowerPoint) required. 
  • Willingness to travel to project sites as needed is a must. Travel expectations = 10-15%
  • Strong sense of urgency and initiative to achieve timely, quality results in a fast paced environment.
  • Approachable and serves as a resource, mentor, coach to others.



Why Build with Graycor's Growing, Dynamic Team?

Building Your Future is How We Build Ours. At Graycor, we seek out those with the highest potential and provide an empowering environment with tools that allow you to take ownership in your career development.

Stability Means Staying Ahead of the Curve. Graycor is committed to continuous improvement and reinvesting in evolving technologies. To ensure stability, we have a diversified project portfolio in a broad range of niche markets nationwide.

We Are Family. This is why we have an intense commitment to Safety. We want to make sure that every member of our Graycor family goes home each day to theirs. Our family-owned company also sponsors wellness and charitable events, casual employee get-togethers, lunch and learns, and other fun social events.

Our Greatest Asset? Our Name. Reputation is grown over time. Our dedication to our people and building trust has enabled us to cultivate long-term relationships with our clients, our partners, and each other.

Join the Graycor Family of Companies.
We’re Building Something More.


Established in 1921, the Graycor Companies provide General Contracting and Construction Management services to a wide variety of industrial and commercial construction markets across the US, Canada and Mexico. As a top ranking industry leader, Graycor commits to safe working environments, demands excellence and rewards passion.

As a diversified leader, we offer a competitive salary and comprehensive benefits package.
For more information, visit our website at

The Graycor family of companies is an Equal Employment Opportunity employer


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