Project Accountant

Position SummaryThe Senior Project Accountant / Project Analyst is responsible for managing the financial and commercial aspects of IT systems integration projects throughout their lifecycle. The role supports Project Managers, Business Units, Sales, Procurement, and Finance teams by ensuring accurate project costing, budgeting, revenue recognition, billing, profitability analysis, and financial reporting.The incumbent will play a key role in managing project financial performance, SAP project controls, milestone tracking, invoicing, unbilled revenue, manpower cost analysis, and cash flow monitoring while ensuring compliance with accounting standards and company policies.Key ResponsibilitiesProject Costing & Financial ManagementPrepare, review, and maintain detailed project costing sheets for all projects. Ensuring cost input are accurate.Validate project budgets, resource estimates, subcontracting costs, procurement costs, and overall project profitability before project commencement.Establish project budgets and monitor actual costs against approved budgets throughout the project lifecycle.Review and analyze project profitability, gross margins, and cost performance.Monitor project commitments, purchase orders, supplier invoices, and subcontractor costs against approved budgets.Track actual project costs and investigate cost overruns and budget variances.Support project managers in financial planning, budgeting, and forecasting activities.Conduct Estimate-at-Completion (EAC) and Cost-to-Complete (CTC) analyses for ongoing projects.SAP Project Controls & Milestone ManagementCreate, maintain, and manage project structures and financial controls within SAP Project Systems (SAP PS) or equivalent ERP platforms.Manage project milestones in SAP to ensure accurate billing, revenue recognition, and project tracking.Monitor milestone completion and ensure timely closure in the ERP system.Maintain project master data and financial records within SAP.Coordinate with Project Managers to ensure milestone achievements are properly documented and approved.Revenue Recognition & ComplianceEnsure compliance with IFRS 15 Revenue Recognition requirements.Review project progress and milestone completion to determine eligibility for revenue recognition.Monitor Work-in-Progress (WIP), accrued revenue, deferred revenue, and project provisions.Perform monthly reconciliation between recognized revenue, invoiced amounts, and project progress.Support internal and external audits by providing project financial documentation and analysis.Ensure compliance with company policies, contractual obligations, and financial controls.Project Billing & InvoicingPrepare customer invoices based on contractual terms, project milestones, and approved deliverables.Coordinate with project teams and customers to obtain necessary supporting documents for billing.Ensure timely and accurate invoicing of projects, professional services, maintenance contracts, and change requests.Monitor billing schedules and contractual billing milestones.Track invoice status and ensure timely submission to customers.Resolve billing issues in coordination with project managers, sales teams, and customers.Unbilled Revenue & Working Capital ManagementManage and monitor unbilled revenue (Unbilled WIP) across all assigned projects.Review projects with aging unbilled balances and identify underlying causes.Work closely with project managers to expedite the conversion of unbilled revenue into invoices.Prepare monthly reports on unbilled revenue and billing performance.Reconcile project revenue, invoiced amounts, and unbilled balances regularly.Monitor project cash flow performance and working capital requirements.Manpower Cost & Resource AnalysisAnalyze planned versus actual manpower costs for projects.Monitor utilization and productivity of project resources.Review timesheets and allocated project hours to ensure accurate project costing.Analyze estimated versus actual project effort and resource consumption.Identify manpower cost overruns and recommend corrective actions.Support project managers with resource planning and workforce utilization analysis.Project Analysis & ReportingPrepare monthly project profitability and performance reports.Develop dashboards and financial reports highlighting project performance and key risks.Perform detailed variance analysis including:Budget vs Actual CostPlanned vs Actual RevenuePlanned vs Actual Manpower CostForecast vs Actual Gross MarginEstimated vs Actual Project HoursRevenue vs Billing AnalysisMonitor project KPIs and provide actionable recommendations to improve profitability.Identify scope creep, margin erosion, resource inefficiencies, and project financial risks.Present project financial performance reports to management and business unit leaders.Contract & Commercial SupportReview customer contracts from a financial and commercial perspective.Assess payment terms, billing schedules, retention clauses, warranties, penalties, and commercial risks.Support change order management and assess financial impact on project profitability.Ensure contractual billing requirements are complied with before invoice issuance.Participate in project review meetings and commercial discussions.Accounts Receivable & Collections SupportMonitor project-related receivables and collection performance.Coordinate with customers and internal collection teams to expedite overdue payments.Analyze customer payment behavior and identify collection risks.Support in reducing Days Sales Outstanding (DSO).Stakeholder ManagementCollaborate closely with:Project ManagersBusiness Unit HeadsSales TeamsProcurement TeamsDelivery TeamsFinance TeamsCustomers and VendorsProvide financial guidance and support to project delivery teams.Participate in project review meetings and management discussions.Key Performance Indicators (KPIs)Forecast AccuracyRevenue Recognition AccuracyBilling TimelinessInvoice Accuracy RateUnbilled Revenue as % of Project RevenueUnbilled Aging (Days)Cost-to-Complete AccuracyProject Cash Flow PerformanceMilestone-to-Invoice Conversion TimeSAP Milestone Closure TimelinessQualificationsEducationBachelor's Degree in Accounting, Finance, Commerce, Business Administration, or a related discipline.Professional qualification such as CPA, CMA, ACCA, CIMA, CA, or equivalent is preferred but not necessary.Experience3–7 years of experience in Project Accounting, Project Finance, Project Control, or Financial Analysis.Prior experience in a Systems Integrator, IT Services, Technology Solutions Provider, ERP Implementation Partner, Managed Services Provider, or similar project-based environment.Technical SkillsFinance & AccountingProject AccountingCost AccountingRevenue Recognition (IFRS 15)Budgeting & ForecastingFinancial ReportingProfitability AnalysisVariance AnalysisCash Flow ManagementWIP ManagementSystems & ApplicationsSAP Project Systems (SAP PS)SAP S/4HANAMicrosoft Excel (Advanced)Power BIProject Management Software (MS Project, Primavera, Jira, Monday.com, etc.)