Accounting Associate - Project Accounting

About Jacobs

At Jacobs, we are dedicated to tackling today's challenges to shape a better tomorrow. We achieve this by solving critical global problems for thriving cities, resilient environments, mission-critical outcomes, operational advancements, scientific discoveries, and cutting-edge manufacturing, transforming abstract concepts into tangible realities that benefit society.

Job Summary

This role is fully accountable for managing the project accounting and billing cycle. Key responsibilities include addressing management inquiries, verifying employee billable time against the time recording system to prevent revenue leakage, and serving as the primary liaison with operations staff. The associate will ensure all processes adhere to company procedures and established accounting practices and standards.

Key Responsibilities

• Initiate new projects, manage time class openings and closings within the ORACLE system, implement transaction controls, set up budgets and payment terms, and configure contracts in the Project Accounting System.
• Scrutinize contract terms and conditions to ensure accurate client billing for both Time & Materials (T&M) and Fixed Price projects.
• Assess the financial implications of price escalations or contract modifications to prevent revenue loss.
• Liaise effectively with Project Managers (PMs) and Principals-in-Charge (PICs) regarding contract documentation, modifications, approvals, and any additional services related to billing.
• Demonstrate a solid grasp of revenue recognition accounting standards.
• Compile final invoice packages, including draft and final invoices for all billable projects with necessary supporting documentation, for approval by the Accounting Supervisor.
• Adhere to established timelines for invoice generation and client submission.
• Investigate unbilled items to maximize billing opportunities within each billing period.
• Maintain organized project files containing all pertinent documents, such as expenses, consultant invoices, and monthly invoices, in compliance with standard operating procedures.
• Collaborate with the Accounts Receivable team to resolve discrepancies in cash application.
• Work with Accounts Payable team members on expenses that are billable to clients at actual cost.
• Generate and distribute project profitability reports.
• Review weekly timesheets and conduct monthly analyses of project, performance unit, or other assigned parameters' profitability.
• Provide support for year-end audits, including addressing auditor queries and escalating significant matters to the PA Supervisor.
• Undertake additional assignments as directed by the Accounting Supervisor.
• Facilitate communication and coordination with all Jacobs global offices.

Requirements

• Possess strong technical knowledge of accounting standards, with a particular emphasis on revenue recognition.
• Experience working within a large, complex organization with interconnected business processes is essential.
• Demonstrate a robust understanding of Enterprise Resource Planning (ERP) systems, such as Oracle Financials.
• Exhibit excellent verbal and written communication skills, with the ability to interact effectively with all organizational levels.
• Proven ability to thrive in a matrix reporting environment and successfully partner with cross-functional teams.

Additional Information

At Jacobs, we prioritize our people, fostering a balance of belonging, career growth, and lifestyle to consistently exceed client expectations. You will have the opportunity to develop your career by working on key projects alongside industry leaders in a collaborative, knowledge-sharing, and innovative environment. To support your professional development, Jacobs offers flexible working arrangements, extended leave options, and a variety of social, health, and wellbeing events.

We believe in valuing what you do, not just where you are. Our hybrid working policy empowers employees to split their work week between Jacobs offices/projects and remote locations, enabling them to perform at their best. We are committed to making your application experience positive and are happy to provide support or reasonable adjustments during the recruitment process, such as providing application forms in alternative formats. Please contact the Careers Support team for assistance.