Director, Project Accounting
About the role
The Director of Project Accounting is a senior-level position responsible for overseeing all project accounting operations across Farnsworth Group's architecture, engineering, and survey practice groups. This role leads a team of 10-15 Project Accountants who support multiple practice groups and Group Leaders throughout the project lifecycle from contract setup to closeout.
Responsibilities
Lead and develop a team of 10-15 Project Accountants supporting multiple practice groups and Group Leaders across the firm.
Establish clear performance expectations, conduct regular one-on-ones, and deliver timely, constructive feedback and formal performance reviews.
Design and deliver structured onboarding and ongoing training programs to build team proficiency in project accounting fundamentals and Deltek VantagePoint/Vision workflows.
Identify individual development opportunities and support career growth paths for team members at all experience levels.
Foster a team culture grounded in accuracy, accountability, client service, and continuous improvement.
Manage workload distribution across the team, balancing assignments to Group Leaders and project portfolios equitably and strategically.
Recruit, interview, and onboard Project Accountants as the team grows or turnover occurs, partnering with HR on hiring practices.
Oversee accurate and timely project setup in Deltek VantagePoint/Vision, including contract values, fee structures, billing terms, phases, tasks, and labor categories.
Review and interpret prime contracts, subconsultant agreements, and task orders to ensure billing plans and revenue structures are configured correctly.
Ensure all contract modifications, amendments, and scope changes are reflected in the project accounting system promptly and accurately.
Establish and enforce project setup standards and naming conventions to support consistent reporting across the firm.
Partner with Group Leaders and Project Managers during contract negotiation to advise on financial terms, billing structures, and fee adequacy.
Direct the full invoicing cycle for the firm’s project portfolio, ensuring invoices are prepared, reviewed, and issued accurately and on schedule.
Review draft invoices prepared by Project Accountants for completeness, accuracy, contract compliance, and appropriate backup documentation.
Manage the invoice approval workflow in coordination with Project Managers and Group Leaders, ensuring timely client delivery.
Monitor accounts receivable aging across the portfolio; escalate delinquent accounts and support collection efforts in coordination with project leadership.
Ensure proper handling of retainage, subconsultant pass-through costs, and reimbursable expenses per contract terms.
Support the preparation and submission of billing on government, federal, and cost-plus contract types, including compliance with FAR billing requirements where applicable.
Oversee monthly revenue recognition for the firm’s project portfolio, ensuring compliance with applicable accounting standards (ASC 606 / percentage-of-completion).
Review and approve earned value calculations, percent-complete estimates, and EAC (Estimate at Completion) updates prepared by Project Accountants.
Prepare and deliver monthly project financial reports to Group Leaders, including contract status, revenue earned, billed-to-date, backlog, and profitability metrics.
Identify projects with financial risk: budget overruns, write-downs, scope creep, or stalled billings, and escalate proactively to leadership.
Cook with IT and finance leadership on system upgrades, module implementations, and workflow enhancements within VantagePoint/Vision.
Develop and maintain standard operating procedures for all VantagePoint/Vision project accounting processes and train team members accordingly.
Leverage reporting and business intelligence tools within VantagePoint/Vision (e.g., Reporting, Dashboards, AI) to produce actionable financial data for stakeholders.
Serve as a liaison between the Project Accounting team and Group Leaders, Practice Leaders, and Project Managers across all service lines.
Facilitate regular project financial review meetings with Group Leaders to discuss backlog, billing pipeline, collections, and project profitability.
Educate and coach Project Managers on financial responsibilities, contract awareness, timesheet compliance, and project cost management.
Translate financial data into clear, accessible reporting that enables non-financial project leaders to make informed decisions.
As a trusted advisor to Group Leaders on matters of fee negotiation, scope management, cost recovery, and financial performance improvement.
Oversee the processing and tracking of subconsultant invoices, ensuring alignment with executed teaming agreements, contract budgets, and project phase allocations.
Ensure subconsultant costs are accurately posted, billed to clients, and reconciled to commitments in VantagePoint/Vision.
Work with Project Managers to monitor subconsultant budget utilization and flag potential overruns before they impact project profitability.
Coordinate with Accounts Payable to ensure timely and accurate payment of subconsultants in accordance with contract pay-when-paid provisions.
Support the Finance Director in the annual revenue budgeting process by providing project-level data, pipeline insights, and portfolio-level projections.
Maintain and update the firm’s project backlog and revenue forecasting models in coordination with Group Leaders and business development leadership.
Provide monthly net revenue and billing forecast data to finance leadership to support cash flow planning and financial reporting.
Analyze trends in utilization, project profitability, write-up/write-down rates, and collection performance to inform management decisions.
Establish and enforce internal controls over project accounting processes, including invoice review thresholds, approval workflows, and audit trail requirements.
Ensure compliance with firm-wide accounting policies, GAAP, and contract-specific billing and reporting requirements.
Lead or support internal and external audits as they relate to project accounting, WIP, and revenue recognition.
Continuously evaluate and improve project accounting workflows, reducing manual effort, increasing accuracy, and shortening billing cycle times.
Develop and maintain the Project Accounting department’s policies, procedures manual, and training documentation.
Requirements
Bachelor’s degree in Accounting, Finance, Business Administration, or a related field required.
CPA or CMA designation a plus, but not required.
Minimum of 8-10 years of project accounting experience, with at least 3-5 years in a supervisory or management role overseeing a team of project accountants.
Experience at a mid-to-large AEC (Architecture, Engineering, and/or Survey) firm with annual revenues well in excess of $100 million strongly preferred.
Demonstrated expertise in all phases of AEC project accounting: contract setup, invoicing, revenue recognition, WIP management, and project closeout.
Proven track record managing a team of 10 or more direct reports in a fast-paced, multi-project environment.
Experience supporting multiple Group Leaders or Practice Leaders simultaneously across diverse project types and contract structures (lump sum, T&M, cost-plus, IDIQ, etc.).
Familiarity with government and federal contracting billing requirements, including FAR-compliant invoicing, a plus.
Expert-level proficiency in Deltek VantagePoint or Deltek Vision required; ability to train others and navigate system administration tasks is highly valued.
Advanced proficiency in Microsoft Excel, including pivot tables, VLOOKUP/XLOOKUP, and financial modeling.
Proficiency in Microsoft 365 suite including Outlook, Word, PowerPoint, and SharePoint/Teams.
Experience with business intelligence or reporting tools (Power BI, Deltek Reporting, etc.) a plus.
Qualifications
Education: Bachelor’s degree in Accounting, Finance, Business Administration, or a related field required.
Experience: Minimum of 8-10 years of project accounting experience, with at least 3-5 years in a supervisory or management role overseeing a team of project accountants.
Experience at a mid-to-large AEC (Architecture, Engineering, and/or Survey) firm with annual revenues well in excess of $100 million strongly preferred.
Demonstrated expertise in all phases of AEC project accounting: contract setup, invoicing, revenue recognition, WIP management, and project closeout.
Proven track record managing a team of 10 or more direct reports in a fast-paced, multi-project environment.
Experience supporting multiple Group Leaders or Practice Leaders simultaneously across diverse project types and contract structures (lump sum, T&M, cost-plus, IDIQ, etc.).
Familiarity with government and federal contracting billing requirements, including FAR-compliant invoicing, a plus.
Expert-level proficiency in Deltek VantagePoint or Deltek Vision required; ability to train others and navigate system administration tasks is highly valued.
Advanced proficiency in Microsoft Excel, including pivot tables, VLOOKUP/XLOOKUP, and financial modeling.
Proficiency in Microsoft 365 suite including Outlook, Word, PowerPoint, and SharePoint/Teams.
Experience with business intelligence or reporting tools (Power BI, Deltek Reporting, etc.) a plus.
Skills
Project Accounting
Deltek VantagePoint or Deltek Vision
Microsoft Excel
Microsoft 365 Suite
Business Intelligence/Reporting Tools
Benefits
401(k) with 100% Company Match up to 5%
Medical/Dental/Vision Insurance Plans
Flexible Spending and Health Savings Accounts
Short & Long-Term Disability
Paternity Leave
Professional Development and Training
Mentoring Program
Paid Time Off
Wellness/Fitness Reimbursements
Pet Insurance Plan
Hybrid Work Program