Finance Executive
Job Summary
The Finance Executive will manage accounts receivable, project accounting operations, and financial reporting for construction projects. Responsibilities include billing, collections, bank reconciliations, and Xero-based project accounting. The ideal candidate holds a degree in Accounting or Finance with 3-5 years of relevant experience.
Responsibilities
- Manage monthly billings, tax invoices, and milestone claims
- Monitor aged AR reports and follow up on payments
- Perform bank reconciliations and track contract retention funds
- Manage daily accounting operations for construction projects using Xero
- Prepare financial reports including P&L, balance sheets, and cash flow analysis
Required Skills
- Bachelor's degree in Accounting, Finance, or related field
- 3-5 years of accounting experience in the construction industry
- Strong knowledge of construction project accounting principles
- Proficiency in Xero accounting software
- Experience in project evaluation and financial analysis
Job Details
Responsibilities
Accounts Receivable
- Manage monthly progress billings, tax invoices, credit notes, and milestone claims.
- Ensure proper revenue recognition, deferred revenue tracking, and accurate tax mapping (e.g., GST/VAT) across all sales invoices.
- Monitor aged AR reports daily and systematically follow up on outstanding client balances to ensure timely payment collection.
- Maintain clear and organized communication records regarding payment commitments and collection timelines.
- Perform bank reconciliations, accurately matching incoming bank transfers, cheques, and electronic payments against outstanding receivables.
- Allocate payments correctly across individual client invoices, project accounts, and retention ledgers.
- Track, reconcile, and maintain accurate records of contract retention funds withheld by clients across all active projects.
- Perform month-end closing activities related to AR, including account reconciliations and revenue schedule tie-outs.
Project Accounting
- Manage and oversee daily accounting operations related to construction projects.
- Prepare and maintain accurate accounting records using Xero software.
- Monitor project budgets, costs, and financial performance.
- Conduct project evaluations and financial analyses to assist in decision-making.
- Prepare financial reports, including profit and loss statements, balance sheets, and cash flow analysis for construction projects.
- Coordinate with project managers to ensure accurate and timely financial tracking.
- Assist with audits and compliance requirements.
- Support project month-end and year-end closing activities.
- Identify opportunities for cost savings and efficiency improvements within projects.
Requirements
- Bachelor’s degree in Accounting, Finance, or related field.
- 3-5 years of accounting experience, preferably in the construction industry.
- Strong knowledge of construction project accounting principles.
- Proficiency in Xero accounting software.
- Experience in project evaluation and financial analysis.
- Detail-oriented with strong organizational and communication skills.
- Ability to work independently and as part of a team.