Project Accountant- Government Contracting

vcfo has partnered with a facilities services firm providing housekeeping, food, and facility management to nearly 1,000 customers across six industries. Our client is seeking a detail-oriented Project Accountant to support government contracts across Construction, Operations & Maintenance (O&M), Environmental Services, and Food Service programs. This role is responsible for full-cycle project accounting with a strong emphasis on subcontracts, cost accruals, revenue recognition, and Work-in-Progress (WIP), while ensuring compliance with federal regulations and contract requirements. The ideal candidate is collaborative, analytical, and comfortable partnering with project managers and operations teams to ensure accurate financial reporting and project performance. Key Responsibilities:

• Perform project accounting for government contracts across Construction, O&M, Environmental Services, and Food Service
• Track and analyze project costs, budgets, funding, and forecasts
• Manage subcontract accounting, including:
• Reviewing subcontract agreements for financial compliance
• Monitoring subcontractor costs, billings, and funding limits
• Reconciling subcontractor invoices and resolving discrepancies
• Prepare and record monthly accruals, including labor, subcontractor, materials, and other direct costs
• Perform revenue recognition in accordance with contract terms, GAAP, and applicable government regulations, including fixed-price, T&M, and cost-plus contracts
• Prepare, analyze, and reconcile Work-in-Progress (WIP) schedules, including:
• Percent complete and cost-to-cost calculations
• Earned revenue and margin analysis
• Identification and resolution of over/under billings
• Reconciliation of WIP to the general ledger and project reports
• Ensure accurate cost and revenue cut-off at month-end
• Prepare and submit customer invoices and reconcile billed vs. earned revenue
• Partner with project managers and operations teams to review WIP, margins, and project variances
• Ensure compliance with FAR, CAS, Davis-Bacon Act, and Service Contract Act (as applicable)
• Support indirect cost allocations and rate analysis
• Assist with month-end and year-end close activities
• Support DCAA, DCMA, and internal audits by providing financial schedules, documentation, and analysis

Required Qualifications:

• Bachelor’s degree in Accounting, Finance, or a related field OR 4 years of relevant project accounting experience in lieu of a degree
• 3+ years of project accounting experience in a government contracting environment
• Demonstrated experience with:
• Work-in-Progress (WIP) schedules and analysis
• Revenue recognition
• Subcontract accounting and cost accruals
• Working knowledge of FAR and government contract compliance requirements
• Experience with project-based accounting systems (e.g., Deltek Costpoint, JAMIS, or Unanet)
• Strong proficiency in Microsoft Excel (pivot tables, lookups, reconciliations)
• High attention to detail and ability to manage multiple deadlines

Preferred Qualifications:

• Experience with progress billing, retainage, and over/under billings
• Familiarity with Davis-Bacon prevailing wage or Service Contract Act labor standards
• Experience supporting DCAA audits and incurred cost submissions

Benefits: ✓ Competitive pay & benefits ✓ Profit share ✓ Paid training & certifications ✓ Health, dental, vision coverage ✓ FSA ✓ Tuition assistance & education support ✓ 401(k) ✓ PTO ✓ Parental Leave ✓ Paid Holiday Apply tot his job Apply To this Job