Senior Accountant – Construction Contracting
Department: Finance & Accounts
Position: Senior Accountant
Reports To: Finance Manager / General Manager / Managing Director
Location: Head Office
Industry: Construction & Contracting
Employment Type: Full-Time
1. Job Purpose
The Senior Accountant will be responsible for managing and maintaining the company's accounting and financial records, with particular focus on construction project accounting, supplier and subcontractor accounts, client billing, receivables, payables, VAT compliance, payroll, cash/bank transactions, and financial reporting.
The position requires close coordination with the Project Manager, Quantity Surveyor, Procurement Team, Site Engineers, HR/Admin and Management to ensure accurate financial control over all construction projects.
2. Key ResponsibilitiesA. General Accounting
- Maintain complete and accurate books of accounts.
- Record daily accounting transactions, including:
- Purchases
- Sales/client invoices
- Receipts
- Payments
- Journal entries
- Cash and bank transactions
- Expenses
- Maintain proper supporting documents for all accounting transactions.
- Perform monthly and year-end closing activities.
- Prepare and maintain general ledger and subsidiary ledgers.
- Ensure proper classification and allocation of expenses.
- Reconcile accounting records with supporting documents.
B. Construction Project Accounting
- Maintain project-wise income and expenditure accounts.
- Monitor project costs against approved budgets and BOQs.
- Allocate material, labour, equipment, subcontractor and overhead costs to respective projects.
- Prepare project-wise cost statements.
- Monitor actual project expenditure against budget/contract value.
- Identify cost overruns, unusual expenses and variances and report them to management.
- Coordinate with Quantity Surveyors and Project Managers regarding project costs and variations.
- Maintain records of:
- Work orders
- Purchase orders
- Subcontract agreements
- Material purchases
- Subcontractor bills
- Client bills
- Retention
- Advance payments
- Performance/security deposits
- Variations and claims.
C. Client Billing & Receivables
- Verify and process client invoices based on approved measurements, BOQ, work completion certificates and payment terms.
- Maintain client-wise and project-wise receivable statements.
- Monitor outstanding invoices and payment due dates.
- Prepare ageing reports for receivables.
- Follow up with concerned departments regarding pending client certifications and payments.
- Record client advances, deductions, retention and other adjustments.
- Reconcile client accounts periodically.
D. Supplier & Subcontractor Accounts
- Maintain supplier and subcontractor ledgers.
- Verify invoices against:
- Purchase Orders
- Delivery Notes
- Material Receipt Notes
- Work completion/measurement certificates
- Approved rates
- Contract terms.
- Process supplier and subcontractor payments after proper approval.
- Maintain subcontractor advance and recovery accounts.
- Account for retention amounts and deductions.
- Prepare supplier/subcontractor ageing reports.
- Reconcile supplier and subcontractor statements.
E. Purchase & Material Accounting
- Verify purchase invoices and supporting documents.
- Ensure purchases are correctly recorded under the respective project/cost centre.
- Monitor material advances and outstanding supplier balances.
- Coordinate with procurement and stores departments for invoice verification.
- Check purchase orders against invoices and delivery records.
- Monitor material-related expenses and project consumption where required.
F. Bank & Cash Management
- Maintain daily cash and bank records.
- Prepare bank reconciliation statements.
- Monitor bank balances and upcoming payments.
- Prepare payment schedules.
- Maintain petty cash and verify supporting vouchers.
- Monitor company cheques and payment instruments.
- Assist management in short-term cash-flow planning.
G. GST / Tax Compliance
- Assist with GST/TDS compliance.
- Verify GST invoices and input tax credit records.
- Prepare data for GST returns.
- Maintain TDS records and supporting schedules.
- Coordinate with tax consultants.
H. Payroll & Employee Accounts
- Assist in monthly payroll preparation.
- Verify attendance, overtime, leave and salary-related information.
- Process salary-related accounting entries.
- Maintain employee advances and recoveries.
- Account for employee expenses and reimbursements.
- Coordinate with HR regarding salary deductions and final settlements.
I. Financial Reporting
Prepare regular financial reports for management, including:
- Profit & Loss Statement
- Balance Sheet
- Cash Flow Statement
- Project-wise Profitability
- Project Cost Report
- Receivables Ageing
- Payables Ageing
- Supplier Outstanding Report
- Subcontractor Outstanding Report
- Cash & Bank Position
- Budget vs Actual Report
- Project Cost Variance Report
- Monthly Management Accounts.
J. Audit & Compliance
- Prepare schedules and supporting documents for internal and external audits.
- Coordinate with auditors and provide required accounting records.
- Maintain proper filing and documentation of financial transactions.
- Ensure compliance with company accounting policies.
- Assist in statutory and tax audits.
- Identify accounting discrepancies and recommend corrective actions.
3. Internal Controls
The Senior Accountant shall ensure:
- No payment is processed without proper approval and supporting documents.
- Supplier invoices are checked before payment.
- Duplicate invoices/payments are identified and prevented.
- Project expenses are charged to the correct project/cost centre.
- Advances are properly monitored and adjusted.
- Retention and deductions are correctly accounted for.
- Bank and cash balances are regularly reconciled.
- Outstanding receivables and payables are continuously monitored.
4. Coordination & Communication
The Senior Accountant will regularly coordinate with:
DepartmentMain CoordinationGeneral ManagerFinancial reports, cash flow, project profitabilityProject ManagerProject costs and expenditureQuantity SurveyorClient bills, subcontractor bills, variationsProcurementPurchase orders and supplier invoicesSite EngineersMaterial/labour/project expensesStoresMaterial receipt and purchase verificationHR/AdminPayroll, attendance and employee expensesManagementPayments, budgets and financial decisionsAuditors/Tax ConsultantsAudit and statutory compliance5. Required Qualifications
- Bachelor's degree in Commerce, Accounting, Finance or related field.
- CA/ACCA/CPA/ICWA or equivalent qualification will be an advantage.
- Minimum 5–8 years of accounting experience, preferably in construction/contracting.
- Experience in project accounting is highly preferred.
- UAE experience will be an advantage for Dubai-based positions.
6. Required SkillsTechnical Skills
- Strong knowledge of accounting principles.
- Construction/project accounting knowledge.
- Supplier and subcontractor accounting.
- Client billing and receivables management.
- VAT/GST and tax accounting.
- Bank reconciliation.
- Payroll accounting.
- Financial reporting.
- Cost control and variance analysis.
- Advanced Microsoft Excel skills.
- Experience with accounting/ERP software.
Personal Skills
- Strong analytical and numerical ability.
- Attention to detail.
- Good communication skills.
- Ability to work under deadlines.
- Strong follow-up skills.
- Ability to identify accounting errors and discrepancies.
- High level of integrity and confidentiality.
- Ability to coordinate effectively with site and office teams.
7. Key Performance Indicators (KPIs)
The Senior Accountant will be evaluated based on:
- Accuracy of accounting records.
- Timely monthly closing and reporting.
- Timely preparation of client invoices.
- Reduction of overdue receivables.
- Accuracy of supplier/subcontractor accounts.
- Timely bank and ledger reconciliation.
- Accuracy of project-wise cost reporting.
- Compliance with VAT/tax requirements.
- Timely salary and payment processing.
- Proper documentation and audit readiness.
- Identification and prevention of accounting errors.
- Timely submission of management reports.
8. Authority & Responsibility
The Senior Accountant is responsible for reviewing, verifying and reporting financial transactions, but shall not independently approve payments beyond the authority delegated by management.
All major payments, adjustments, write-offs, advances and exceptional transactions shall be processed in accordance with the company's approval hierarchy.
Preferred Experience: Preference will be given to candidates with experience in construction contracting companies and practical knowledge of project accounting, subcontractor accounting, client billing, retention, advances, BOQ-based project costing, GST and management reporting.
Pay: From ₹25,000.00 per month
Work Location: In person
