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What WIP experience means when hiring construction accountants
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Financial Headhunters: How do you vet your construction accountant to reconcile WIP schedules and handle subcontractor billing so job site costs stay on track?
This is what we do all day: recruit accounting, finance, banking and insurance professionals.
- Controller
- CFO
- VP Finance
- FP&A Director
- Accounting Manager
- Director of Accounting
- Assistant Controller
- Tax Director
- Treasury Manager
- Internal Audit Director
- Senior Accountant
- Financial Analyst
- Head of Financial Reporting
- Commercial Lender
- Chief Credit Officer
- Business Systems Finance Lead
01
Essential Skills and Scope
Who updates the project percentage of completion? This is the heartbeat of your cash flow and revenue reporting. Candidates need experience with ASC 606 revenue recognition. They must understand percentage of completion. Without this, your financial statements will not reflect the actual state of your active jobs.
The day to day involves managing job cost closes. They must handle AIA G702 and G703 billings. They need to track retainage and confirm lien waivers are signed. They must reconcile sub-contractor billings against internal purchase orders. They need to coordinate with project managers on cost to complete reviews to avoid surprises at the end of a project.
- 01ASC 606 knowledge for revenue recognition.
- 02Sage 300 CRE or Viewpoint software proficiency.
- 03Direct handling of project accountants across active job sites.
- 04Confirming subcontractor compliance with COIs and lien waivers.
02
Interview Strategy and Questions
Ask specific questions about their process. Avoid vague situational questions. You need to know how they handled a specific mess.
Ask them to explain their workflow for a monthly job cost close. Listen for a mention of verifying subcontractor insurance before releasing payments. Ask how they reconcile the WIP schedule to the general ledger. They should be able to explain why these two items might differ. Ask how they handle change orders that are not yet approved by the owner.
Before you meet a candidate, we examine the precise split between their job-site data entry and their month-end reporting habits. We ask them to detail how they handle a cost-to-complete update when a project manager disputes a line item, specifically looking for how they reconcile the general ledger to the field report. You must decide whether you prioritize a candidate who cleans up past historical data messes or one who builds forward-looking projections for future growth. We screen for this tradeoff to avoid hiring a back-office historian for a role that demands constant field-level coordination.
- 01Describe your process for reconciling a WIP report to the trial balance.
- 02How do you resolve a discrepancy between the project manager report and your general ledger?
- 03Explain the workflow for a standard AIA billing cycle.
- 04What is your approach when a subcontractor fails to provide a required lien waiver?
03
Common Hiring Mistakes
Do not hire a general corporate accountant and assume they will learn construction accounting quickly. The software is niche. Sage 300 CRE or Viewpoint require specific knowledge. Training a generalist takes too long. You need someone who already understands the quirks of job costing and retainage.
Do not ignore the importance of software proficiency. A candidate who knows Excel but has never used construction specific ERP software will struggle. They will not be able to pull reports or generate billings accurately without constant supervision. Verify their hands-on software experience.
- 01Assuming general accounting experience translates directly to construction.
- 02Neglecting to test actual software knowledge in the interview.
- 03Overlooking the need for firm communication with project managers.
- 04Focusing on the resume instead of the technical workflow.
04
Credentials Explained
Certifications like the CCIFP, or Certified Construction Industry Financial Professional, are valuable. This is issued by the ICCIFP. It verifies deep knowledge of construction financial processes. It is an exam based designation. Current status is verified via the issuing body. It proves they passed a standardized test. It does not prove they can manage your specific accounting department or your software stack.
Other certifications exist for payroll. Payroll professionals might hold a CPP from the APA. This focuses on tax compliance and general payroll rules. It does not cover the specifics of certified payroll, prevailing wage or union reporting requirements common in construction. Check the issuing body for current status.
- 01CCIFPExam based designation for construction finance.
- 02CPPFocuses on general payroll, verify for union or prevailing wage focus.
- 03Software certificationOften vendor specific, proves interface familiarity.
- 04LicensesConfirm current status via state or governing entity.
05
Choosing the Right Level
A Project Accountant should focus on a single portfolio. They handle billings and lien waivers. A Construction Controller manages the department. They focus on the high level financial health of the business. They oversee the WIP and the financial statements.
If you have high volume, start with a Project Accountant. If you have reporting issues or compliance gaps, you need a Controller. Evaluate the volume of your active jobs and the complexity of your sub-contractor arrangements before picking a level. A Controller is overkill for a small operation, but necessary for a mid-sized firm with multiple entities.
- 01Project AccountantBillings, lien waivers, job cost entries.
- 02Construction Accounting Manager: Oversight of project accountants, process management.
- 03Construction ControllerFinancial reporting, WIP management, executive reporting.
- 04Development AccountantFocuses on project budgets and financing for new builds.
06
Which related hiring decisions are worth comparing?
Questions people ask
What software should I look for?
Prioritize Sage 300 CRE, Viewpoint Vista, Viewpoint Spectrum, or Foundation. These are industry standards.
Is CCIFP required?
It is a plus. It shows commitment to the niche. It is not required for a strong candidate.
Should I test for Excel skills?
Most construction accounting involves heavy Excel usage for data manipulation and reconciliations outside the ERP.
Why do they need to talk to project managers?
The accountant must verify the cost to complete. The project manager has the boots on the ground view of progress.
How do I know they understand WIP?
They must be able to describe how they calculate earned revenue versus billed revenue and the resulting over/under billings.