Sr. Accountant - Construction

Sr. Accountant – Construction Job Purpose The Senior Accountant is responsible for managing and maintaining accurate financial records, supporting month-end and year-end closing, monitoring project-related financial transactions, and ensuring compliance with company policies and UAE accounting and tax requirements. The role will work closely with Project Management, Procurement, Commercial, Contracts, HR, and Operations teams to ensure accurate project costing, revenue recognition, payables, receivables, and financial reporting. Key Responsibilities 1. General Accounting - Maintain accurate and up-to-date general ledger accounts and accounting records. - Record and review journal entries, accruals, provisions, prepayments, and adjustments. - Perform monthly bank, supplier, customer, and general ledger reconciliations. - Support month-end and year-end closing activities. - Ensure proper documentation and approval of financial transactions. - Investigate and resolve accounting discrepancies. 2. Construction & Project Accounting - Monitor project-related revenues, costs, expenses, and commitments. - Maintain accurate project cost records and allocation of expenses to the appropriate projects/cost centers. - Monitor Work in Progress (WIP) and project-related accounting balances. - Coordinate with Project and Commercial teams regarding project billing, variations, claims, and certifications. - Review project cost reports against approved budgets and identify significant variances. - Support accounting for subcontractors, suppliers, materials, equipment, manpower, and site expenses. - Ensure proper accounting treatment for project mobilization advances, retention, guarantees, and advance payments. - Assist in monitoring project profitability and cost-to-completion information. 3. Accounts Payable & Subcontractors - Review supplier and subcontractor invoices for accuracy, supporting documents, approvals, and proper project allocation. - Reconcile supplier and subcontractor statements. - Monitor outstanding payables and payment schedules. - Verify retention deductions, advance recovery, and other contractual deductions. - Coordinate with Procurement, Contracts, and Project teams to resolve invoice discrepancies. 4. Accounts Receivable & Revenue - Monitor customer accounts and project receivables. - Prepare and review customer invoices in coordination with the Commercial and Project teams. - Follow up on outstanding receivables and maintain accurate aging reports. - Reconcile customer accounts and investigate outstanding balances. - Support revenue recognition and project billing in accordance with applicable accounting policies. 5. VAT & Tax Compliance - Ensure transactions are properly recorded for VAT purposes. - Assist with preparation and review of VAT returns and supporting schedules. - Verify VAT treatment on supplier invoices, customer invoices, and project transactions. - Maintain proper tax documentation and records. - Support external auditors and tax consultants with required information. 6. Financial Reporting - Prepare monthly schedules, reconciliations, and management reports. - Provide financial information for project profitability and cost analysis. - Assist in preparing balance sheet schedules and supporting documentation. - Analyze variances and highlight unusual or significant financial movements. - Support preparation of cash flow forecasts and financial analysis. 7. Audit & Internal Controls - Support internal and external audit activities. - Prepare audit schedules and provide supporting documentation. - Ensure compliance with company financial policies, procedures, and internal controls. - Identify control weaknesses and recommend improvements. - Maintain proper filing and documentation of accounting records. 8. ERP & Process Improvement - Ensure accurate and timely posting of transactions in the ERP/accounting system. - Review data accuracy across Finance, Projects, Procurement, and related modules. - Participate in ERP implementation, testing, and process improvement initiatives. - Improve accounting procedures, reconciliations, reporting, and financial controls. Required Qualifications - Bachelor's degree in Accounting, Finance, or a related field. - Professional qualification such as ACCA, CMA, CPA, or equivalent is an advantage. - Minimum 5–8 years of relevant accounting experience, preferably within construction, contracting, engineering, or a project-based organization. - Strong knowledge of general accounting principles and financial reporting. - Good understanding of construction/project accounting, WIP, subcontractor accounting, retention, advances, and project costing. - Working knowledge of UAE VAT and relevant tax requirements. - Strong Excel skills and experience with ERP/accounting systems.