Construction Accountant
Website Ginkgo Residential
Ginkgo Residential is seeking a detail-oriented and experienced Construction Accountant to manage the financial aspects of our construction and renovation projects. This role involves overseeing construction draws, managing invoices, recording expenses, and handling various accounting functions crucial to our projects’ financial health.
Primary Duties
Construction Project Financial Management:
- Set up and manage construction draws, ensuring accurate recording and approval of expenses.
- Revise plans and draws during quarterly meetings and prepare reports reflecting project spending and updates.
Acquisition and Refinancing:
- Develop new draw schedules based on approved capital budgets for newly acquired or refinanced properties.
- Participate in third-party report reviews to incorporate required repairs into draw templates.
- Collaborate with Construction Project Managers to update the capital log workbook and manage account codes.
Monthly Financial Operations:
- Vendor Invoices: Manage invoices from vendors with third party processing company to ensure invoices are processed timely and resolve any issues. This includes obtaining required lien waivers from vendors where applicable.
- Construction Draws: Complete and submit monthly construction draws for bank reimbursement and finalize internal construction draws to ensure accurate cash balances.
- Rehab Expense Management: Update rehab expense management workbooks and participate in monthly rehab reviews with Property Management and Projects & Service employees.
- Construction Management Fees: Calculate and create journal entries for construction management fees by the 10th of each month.
- Rehab Allocation Journal Entries: Create journal entries to correctly allocate renovation costs monthly
- Replacement reserves: Complete and submit replacement reserves to respective lenders for operating replacements incurred.
Quarterly Financial Review:
- True up construction draws and update capital budgets to reflect completed projects and remaining expenses.
- Prepare and aggregate reports for quarterly meetings, and adjust draws based on feedback and decisions.
Qualifications
- Bachelor’s degree in Accounting, Finance, or a related field. CPA or CMA certification is a plus.
- Minimum of 3 years of experience in construction accounting or a related role.
- Proficiency in construction software (Procore), accounting software (e.g., OneSite Accounting) and Microsoft Office Suite (Excel, Word, etc.).
- Strong analytical skills with attention to detail and accuracy.
- Excellent organizational and time management skills with the ability to handle multiple priorities.
- Effective communication skills, with the ability to collaborate with project managers and other stakeholders.
- Knowledge of construction industry practices, contracts, and financial regulations
About Ginkgo Residential
Ginkgo Residential LLC is an integrated multifamily investment, management and redevelopment company based in Charlotte, North Carolina. We currently manage over 7,000 apartment units in more than 50 communities with a geographic footprint that encompasses the Carolinas.
Ginkgo Residential is an Equal Opportunity Employer.
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