Project Accountant

Key Responsibilities

• • Manage day-to-day corporate banking and finance coordination.
• • Coordinate with banks for company accounts, bank facilities, guarantees, cheque-related matters, and other banking requirements.
• • Prepare cheques accurately and on time according to approved payment schedules.
• • Maintain a cheque register and track security cheques, post-dated cheques, cheque maturity dates, issued cheques, cleared cheques, pending cheques, and cancelled cheques.
• • Monitor bank balances, upcoming payments, collections, cash flow requirements, and bank transfer requirements.
• • Prepare cash flow forecasts, payment forecasts, collection forecasts, and bank position reports for management.
• • Review contracts, purchase orders, letters of award, letters of intent, supply agreements, and project agreements to identify all financial and payment-related obligations.
• • Track and monitor the following contract payment terms:

Payment Structure

• o Advance payment
• o Mobilization advance
• o Advance payment guarantee
• o Performance bond / Performance guarantee / Bank guarantee
• o Retention money
• o Retention release
• o Payment milestones
• o Progress payments
• o Interim payment certificates
• o Monthly payment certificates
• o Payment certificates
• o Certified payments
• o Final payment
• o Taking-over certificate payment
• o Defects liability period
• o Defects liability retention

Variations & Claims

• o Variation claims
• o Approved variations
• o Unapproved variations
• o Variation orders
• o Back charges
• o Deductions
• o Contra charges
• o Liquidated damages
• o Delay penalties

Contract Values

• o Lump sum contract values
• o Re-measurement items
• o Provisional sums
• o Unit rate contract values (SERA only — re-measurable BOQ)

Payment Mechanics

• o Payment due dates
• o Credit periods
• o Tax invoice requirements
• o VAT treatment
• o Security cheques
• o Post-dated cheques
• o Cheque maturity dates
• o Bank transfer requirements
• o Subcontractor payment terms

Milestone Triggers

• o Material delivery payment terms
• o Installation milestone payments
• o Testing and commissioning payment terms (SERA)
• o Handover payment requirements
• o Snagging-related payment holds
• o Retention against defects
• o Warranty guarantee requirements

Approval & Documentation

• o Client approval requirements before invoicing
• o Consultant approval requirements before invoicing
• o Payment certification process
• o Delivery note requirements
• o Material approval requirements
• o Material inspection request requirements
• o Site receipt confirmation
• o No-objection certificates for payment
• o Work completion certificates

Risk & Termination

• o Contractual penalties
• o Contractual deductions
• o Suspension of payment clauses
• o Termination payment clauses

Insurance-related payment requirements

• • Prepare and maintain a contract financial summary for each project, clearly showing payment terms, invoicing stages, retention, guarantees, payment due dates, penalties, variations, approvals, documentation requirements, and collection requirements.
• • Ensure invoices are prepared according to contract terms, approved payment milestones, delivery stages, consultant approvals, client requirements, and required supporting documents.
• • Track project receivables, outstanding balances, overdue payments, retention amounts, certified payments, approved variations, unapproved variations, and collection status.
• • Follow up with developers, contractors, consultants, and project clients for payment certificates, invoice approvals, payment releases, retention releases, and overdue balances.
• • Coordinate internally with sales, procurement, operations, delivery, project, and accounts teams to ensure all documents required for invoicing and payment collection are complete.
• • Ensure timely preparation of supplier, vendor, subcontractor, and project-related payments according to approved payment schedules.
• • Maintain proper documentation for bank requirements, audits, contracts, cheques, invoices, payment approvals, payment certificates, guarantees, and project finance records.
• • Ensure all financial transactions are properly recorded in the accounting system according to project and contract requirements.
• • Support management with project profitability reports, collection reports, receivables aging reports, payment schedules, bank facility reports, and cash flow reports.

Required Experience

• • Experience in corporate finance, banking coordination, cheque management, accounts payable, accounts receivable, and project-based accounting.
• • Strong experience dealing with banks, corporate banking documents, facilities, guarantees, cheque management, and post-dated cheques.
• • Experience understanding and tracking project contract payment terms, even though the company is a supplier and not a construction contractor.
• • Experience working with developers, contractors, consultants, or project clients is preferred.
• • Experience in kitchen supply, fit-out, interiors, joinery, building materials, appliances, or project supply business is an advantage.
• • Good understanding of contract terms and conditions related to payments, collections, guarantees, retention, variations, penalties, and final settlements.

Required Skills

• • Strong corporate finance and accounting knowledge.
• • Excellent understanding of banking processes, bank facilities, guarantees, and cheque management.
• • Ability to prepare cheques, payment schedules, and bank documentation accurately and on time.
• • Strong cash flow tracking, collection planning, and payment planning skills.
• • Ability to read and understand contractual payment terms and project-related financial clauses.
• • Strong follow-up and coordination skills with banks, clients, developers, contractors, consultants, suppliers, and internal departments.
• • Excellent attention to detail and documentation control.
• • Good knowledge of Microsoft Excel and accounting software.
• • Ability to manage multiple projects, banking requirements, payment deadlines, and collection follow-ups at the same time.

Qualifications

• • Bachelor's degree in Accounting, Finance, Business Administration, or a related field.
• • CMA qualification is preferred.
• • Candidates with ACCA, CPA, CA, or equivalent professional finance/accounting qualifications will also be considered.
• • Minimum 3–5 years of experience in corporate finance, banking coordination, project accounting, accounts payable, accounts receivable, contract finance coordination, or project-based commercial finance.
• • Experience in a project supply business, kitchen supply, fit-out, interiors, joinery, building materials, appliances, or similar industry is preferred.

Preferred Candidate Profil

eThe ideal candidate is a finance professional who understands corporate banking and project contract payment terms. The person should be able to deal confidently with banks, manage cheques and payment schedules, track contract financial obligations, follow up on collections, and ensure that all project-related finance activities are completed accurately and within deadlines

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The candidate should understand how developers, contractors, consultants, and project clients handle payments, approvals, certificates, retention, variations, guarantees, and final settlements. The person must be organized, detail-oriented, and capable of protecting the company's financial interests by carefully tracking all contractual payment terms and banking requirement