Development/Property Accountant

The Georgetown Company is seeking an experienced Project Accountant to join our growing real estate development team. This role is ideal for a detail-oriented accounting professional with construction and/or real estate development experience who is comfortable managing job costs, contracts, billing, subcontractor requisitions, lender draw packages, and project financial reporting as projects move from early-stage development through the project lifecycle. Experience with property management operations and accounting management software is required. The ideal candidate will have a strong understanding of accounting principles and be able to work effectively on multiple tasks.

Key Responsibilities

• Manage project accounting activities for assigned construction projects from setup through closeout; Track job costs, budgets, commitments, change orders, billings, retainage, subcontractor requisitions, and project financial performance.
• Review and maintain development contracts, construction contracts, subcontracts, and related project documentation.
• Prepare and review subcontractor requisitions and other project-related accounting documents, loan draw packages for lenders, including required schedules, backup documentation, reconciliations, and recurring accounting entries.
• Process subcontractor invoices, purchase orders, lien waivers, insurance certificates, compliance documentation, and other project-related payables.
• Assist project managers with cost forecasts, budget updates, variance analysis, project reporting, and financial review.
• Reconcile vendor records, subcontractor balances, project costs, accounts payable, accounts receivable, loan balances, and work-in-progress reporting.
• Support monthly close activities, including journal entries, accruals, prepaid expenses, balance sheet reconciliations, and project reporting.
• Assist with audits, project closeout documentation, lender reporting, and other accounting functions as needed.
• Own end-to-end project accounting for active generation development projects, serving as the primary contact for project cost information for internal and external stakeholders.
• Review construction contract invoices against approved budgets, support the project team in maintaining change order logs, and track retainage balances across all active generation development projects.
• Enter, review, and maintain contract details, subcontractor payment applications, change orders, and project cost records in accounting and project management systems.
• Review and analyze financial and transactional information, ensure accuracy and timeliness of financial statements for operating activities used to report to principals, investors and lenders
• Tracks costs against approved budgets; monitor and track discrepancies between budget and actual reporting.
• Review requisitions and purchase orders through the approval workflow, confirming project coding and budget alignment before commitments are released.
• Review construction contract invoices against approved budgets, support the project team in maintaining change order logs, and track retainage balances across all active generation development projects.
• Proactively identify budget variances at the contract and work order level and communicate findings to project managers and senior management before variances compound.
• Manage month-end close, including recording actuals, determining accruals, posting audit-ready journal entries, and reconciling construction-in-progress, AP accrual, and retainage balances.
• Assist with monthly cash forecasting, maintaining a rolling 12-month forecast reflecting current project schedules, contract commitments, and funding requirements.
• Coordinate with project managers, treasury, and senior management to align cash forecasts with milestones and capital call schedules so funding precedes major expenditures.
• Monitor cash positions across project entities, prepare monthly cash summaries with variance explanations, and flag cash flow risk such as overruns, accelerated spend, or delayed recoveries well before liquidity is impacted.
• Complete monthly and quarterly reporting required by individual project agreements, including investor reports, lender compliance packages, and project-level financial statements.
• Act as the primary point of accountability for the accuracy of project cost data ensuring management reporting, investor reporting, and financial statements all draw from a single, reliable source of truth.
• Escalate control issues such as budget overruns, unauthorized commitments, or unusual cost patterns, and prepare a monthly project controls summary of open issues, corrective actions, and emerging risks.
• Support the tax teams and external tax advisors with project cost schedules, asset classification detail, and cost basis documentation segregated by asset type, jurisdiction, and tax treatment.

Qualifications

• Bachelor's degree in Accounting, Finance, or related field
• 3+ years of progressive experience in property management finance and accounting preferably in construction, real estate development, property management, engineering, or another project-based environment.
• Ability to review contracts, subcontracts, vendor records, invoices, and supporting documentation with accuracy.
• Experience reconciling vendor records, project costs, accounts payable, loan balances, and project financial data.
• Proficiency in Microsoft Excel and Real Page accounting software (Yardi beneficial but not required)
• Attention to detail and high level of accuracy
• Strong communication and presentation skills
• Ability to manage multiple projects, deadlines, and priorities in a fast-paced construction environment.
• Strong communication skills and the ability to work effectively with project managers, accounting teams, vendors, subcontractors, and lenders.
• Advanced knowledge of Microsoft Excel; Excel certification preferred