Construction Accountant

Job Title:

Construction Accountant

Location

Oak Brook, IL

Reports to

Controller

Overview

The Construction Accountant will manage the accounting aspects of construction projects, focusing on recording draw requests, reviewing and classifying vendor payments, and monitoring cash flow requirements on a project-by-project basis. This role is critical to the accurate financial management of ten projects currently in process which are expected to become operating properties within the next 12 to 16 months. Devon Self Storage also projects to have consistent construction projects in the long term with the natural growth of the company. Experience with Yardi and construction accounting is required. The ideal candidate brings strong accounting skills, construction industry experience, and the ability to collaborate with development, operations, and external partners.

Core Responsibilities

• Recording Draw Requests:
• Accurately record draw requests in the financial system, ensuring they are correctly reflected in project accounts.
• Liaise with project managers and accounting teams to ensure documentation for draw requests is complete and compliant with organizational policies.
• Vendor Payment Recording & Classification:
• Record and classify vendor payments, ensuring accuracy and adherence to the construction budget.
• Properly code expenses to appropriate construction project accounts in Yardi.
• Cash Flow Monitoring:
• Track cash flow requirements and actual expenditures for each construction project.
• Monitor project budgets to ensure alignment with expected cash flow and identify any potential shortfalls or discrepancies.
• Reconciliation & Reporting:
• Reconcile project accounts regularly to ensure accurate financial records.
• Provide monthly financial reports detailing project performance, including budget vs. actuals and cash flow summaries.
• Collaboration & Communication:
• Work closely with property accountants, construction managers, and development teams to facilitate smooth financial operations.
• Act as a key financial contact for active construction projects, ensuring timely and accurate financial updates to internal stakeholders.
• Compliance & Documentation:
• Ensure all financial activities comply with organizational policies, including accurate record-keeping of all transactions.
• Provide support during audits and prepare financial documentation as required.

Required Qualifications

• Experience: 3-5 years of experience in construction accounting.
• Software Skills: Proficiency in Yardi, with hands-on experience in managing construction-related accounts.
• Strong knowledge of general accounting principles, particularly in construction accounting and financial management.
• Strong attention to detail, especially in recording and classifying financial transactions.
• Ability to manage multiple construction projects simultaneously and prioritize tasks effectively.

Preferred Qualifications

• CPA or equivalent certification.
• Experience in real estate development or property management, particularly with transitioning projects from development to operations.