Project Accountant- Government Contracting, Austin

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