Construction Accountant

Business

Tracks the money on a job, job costing, retention, work-in-progress reporting, using accounting methods that look nothing like a typical retail or service business's books.

What is a Construction Accountant?

A Construction Accountant manages the financial side of construction projects and companies using accounting methods specific to the industry, job costing by project, percentage-of-completion revenue recognition, retention tracking, and work-in-progress (WIP) reporting that shows whether each active job is running ahead of or behind its billed value. No license is legally required to work in construction accounting generally; the "Certified Public Accountant" (CPA) title and the ability to perform certain regulated services, audits and other attest engagements, are legally restricted to people holding a state CPA license, which becomes relevant if the role involves those specific services rather than internal company accounting.

What they do

• Track job costs against budget for every active project
• Prepare work-in-progress (WIP) reports showing over/under-billing on each job
• Manage retention tracking and billing for pay applications
• Apply percentage-of-completion revenue recognition across active projects
• Support cash flow forecasting tied to project billing and payment cycles
• Prepare financial statements and reports for company leadership, bonding companies, and lenders

A typical day

• 8:00 AMUpdate job cost reports with the previous day's labor and material postings
• 9:30 AMPrepare the monthly work-in-progress report across all active projects
• 11:00 AMProcess pay application billing and retention for a project nearing a milestone
• 1:30 PMReview cash flow projections with the company's controller
• 3:30 PMPrepare financial data requested by the company's bonding agent

Skills

Software

Education

Required:

High school diploma or equivalent. No license is legally required to work in construction accounting generally; a state CPA license becomes legally required specifically to use the "Certified Public Accountant" title or to perform certain regulated services (audits and other attest engagements), not for internal company accounting work

Preferred:

Bachelor's degree in accounting or finance

Helpful:

CPA license (for those pursuing attest work or the CPA title) or a Certified Construction Industry Financial Professional (CCIFP) credential

Not necessary:

A construction-specific accounting degree; most construction accountants come from a general accounting background and learn the industry-specific methods on the job

Career progression

1. 1.Staff Accountant
2. 2.Construction Accountant
3. 3.Controller
4. 4.CFO

Who hires for this role