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Sr. Accounting Associate Project Accounting

0.00 to 10.00 Years   Navi Mumbai, Maharashtra   15 Aug, 2024
Jacobs
Job LocationNavi Mumbai, Maharashtra
EducationNot Mentioned
SalaryNot mentioned
IndustryNot mentioned
Functional AreaNot Mentioned
EmploymentTypeFull-time

Job Description

bYour Impact: #ASIAID This position is fully responsible for the project accounting & billing process, including responding to Management inquiries, verifying employeexe2x80x99s billable time with the time recording system & making sure that revenue leakages are avoided; front face with Operations staff on this account and making sure that the process is compliant with the Company Procedures & prescribed Accounting Practices & standards.

  • Set up new projects, open and close time classes in company system (ORACLE), apply transaction controls, budget, payment terms and configure the contract in the Project Accounting System.
  • Analyse and understand the contract terms & conditions and accordingly ensure that correct billing is done to the client for T&M and Fixed Price projects.
  • Understand the impact of price escalation or change notices as per contract conditions and ensure that there is no loss of revenue for the company.
  • Effectively communicate with Project Managers (PM) and Principals-in-Charge (PIC), regarding contract documents, change orders and other contract modifications, approvals, and any additional services-related to billing.
  • Have a good understanding of accounting standards for revenue recognition.
  • Prepare final invoice package containing draft and final invoices for all billable projects, including all applicable backup for approval by the Accounting Supervisor.
  • Ensure timelines for raising and submission of invoices to the clients.
  • Research any unbilled issues to optimize the billing possibilities for the billing period.
  • Maintain folders / files for all projects, with all the appropriate documents, including expenses, consultant invoices, and monthly invoices, in accordance with standard procedures.
  • Work with the Accounts Receivable team member to reconcile variances that occur in the application of cash.
  • Work with Accounts Payable team members where certain expenses are billable to clients at actuals.
  • Generate and distribute profitability reports.
  • Review weekly time sheets and monthly analyse the profitability of Project, Performance Unit or other parameters as assigned.
  • Provide year-end support of auditor requirements, which includes front facing them on their queries & making sure matters of significance are reported & escalated to the PA Supervisor
  • Perform additional assignments, as directed by the Accounting Supervisor.
  • Communicate and coordinate with all Jacobs offices
Herexe2x80x99s What Youxe2x80x99ll Need:
  • Strong technical knowledge of accounting standards xe2x80x93 particularly revenue recognition. Experience working in a large, diverse organization with intersecting business processes.
  • Strong understanding of Enterprise Resource Planning (ERP) systems, such as Oracle Financials.
  • Strong verbal and written communications skills with the ability to work directly with all levels of the organization.
  • Ability to work in a matrix reporting structure and proven success of partnering with organizational cross-functional teams.
  • B.Com/M.Com is required.
  • 3 years of Experience is required in accounting
At Jacobs, wexe2x80x99re challenging today to reinvent tomorrow by solving the worldxe2x80x99s most critical problems for thriving cities, resilient environments, mission-critical outcomes, operational advancement, scientific discovery and cutting-edge manufacturing, turning abstract ideas into realities that transform the world for good. With $13 billion in revenue and a talent force of more than 55,000, Jacobs provides a full spectrum of professional services including consulting, technical, scientific and project delivery for the government and private sector.

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