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Project Accountant

Project Accountant

The Mason Group Incmarkham, ontario, Canada
22 days ago
Job type
  • Full-time
Job description

Project Accountant

Employment Type

Permanent

Location

Markham, Ontario

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Job Description :

Our client is a dynamic force in the Toronto real estate scene, specializing in developing transformative residential and commercial properties that elevate urban living. With a strong focus on quality, design, and sustainability, they have made a name for themselves by creating spaces that blend modern aesthetics with functionality. Their commitment to innovation is evident in every project, with each development thoughtfully integrated into the city's fabric, contributing to Toronto's evolving skyline. Through a customer-centric approach and a passion for excellence, they continue to redefine the urban landscape.

  • Project Accounting and Financial Management
  • Maintain project-related general ledger accounts and ensure the timely and accurate recording of all project financial transactions
  • Preparation of statement of adjustments for closings and record closing journal entries after review by the Manager.
  • Review and reconcile purchaser deposits and record cash receipts.
  • Review and reconcile merchant account transactions and record upgrade deposits.
  • Assist in the month-end and year-end closing processes for project-related accounts, which include but are not limited to :
  • Prepare bank reconciliations and record journal entries related to loans, interest, and bank charges.
  • Review and reconcile broker commission payables to third-party and internal sales agents.
  • Review and book accruals based on discussions with Accounts Payable coordinators and project managers.
  • Prepare trust account reconciliations and record journal entries related to the deposit funds and liabilities.
  • Ensure that proper documentation and backup for all project-related transactions is maintained.
  • Project Financial Reporting
  • Prepare monthly / quarterly financial statements
  • Prepare monthly / quarterly project financial information packages for internal and external stakeholders
  • Prepare and provide financial information for internal project management team as required to assist with their analysis
  • Tax and Regulatory Compliance
  • Prepare and file HST returns (after approval by the Manager of Project Finance) and assist with responding to CRA inquiries regarding HST reviews, audits, and related matters.
  • Follow up on outstanding ITC refunds and prepare monthly HST tracking reports for the Manager of Project Finance.
  • Assist with external audits and tax filings by preparing necessary documentation and answering inquiries related to project accounting.
  • Prepare applications for new projects related to Tarion, Builder’s Risk, and GCNA insurance setup.
  • Budgeting and Cost Tracking
  • Monitor and allocate costs to specific project categories and cost codes.
  • Coordinate with project managers to ensure all project costs are captured and recorded accurately in the financial system.
  • Perform regular budget updates and re-forecasts throughout the project lifecycle to ensure budget alignment.
  • Cash Flow Management
  • Monitor project cash flows to ensure timely draws, cash calls, and payments to contractors, suppliers, and other stakeholders.
  • Maintain the project loan facilities, including submission of draw requests, coordination with the quantity surveyor, and conversion to CORRA for interest cost savings.
  • Organize and review cheque runs for accuracy, timeliness, and cash requirements.
  • Assist in preparing cash flow projections and track actual cash flow against projections.

TMGMS

Job Requirements :

  • Education : Accounting Degree
  • Experience : 3-5+ years of project accounting experience in a real estate development or construction environment.
  • CPA designation : Preferred
  • Software Skills : Experience with NewStar, Procore (asset), and advanced proficiency in Microsoft Excel and Word
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