Project accountant

Project accountant job description

A vital role for finance professionals who thrive on structure, planning, and cross-functional collaboration, the Project Accountant manages the financial aspects of specific projects—ensuring accurate reporting, cost control, and financial performance. This position is ideal for detail-oriented candidates with a strategic mindset.

What is project accounting?

Project accounting focuses on tracking the financial progress of specific projects rather than general business operations. It involves monitoring budgets, costs, revenues, and timelines to ensure projects stay on track financially. Unlike standard financial accounting, project accounting delivers granular financial insight on a per-project/contract basis and helps guide decision-making for project managers and stakeholders.

Key responsibilities

Monitor and manage project budgets, timelines, and financial performance

Prepare project-specific reports for stakeholders

Track and analyse costs, revenues, and profitability by project

Support project planning and forecasting

Ensure compliance with project-specific contracts and regulations

Background and experience

Part-qualified or fully qualified accountant (ACA, ACCA, or CIMA)

Experience working in finance roles with exposure to project environments

Strong commercial awareness and stakeholder communication skills

Proficiency in Excel and project accounting or ERP software

Organised, analytical, and deadline-driven

Team structure

Project Accountants often report to the Finance Manager or Project Controller, working closely with:

Project Managers

Commercial and Procurement teams

Operational leads

External consultants or contractors

The role bridges operational and financial functions to maintain oversight and accountability, while acting as a key business partner to support decision-making and drive performance.

What makes the role rewarding?

This position provides variety, autonomy, and visibility across departments:

Direct involvement in high-impact projects/contracts

Collaborative work with non-finance teams

Opportunity to influence financial outcomes and cost-saving

Builds cross-functional experience and project-based acumen

Future-focused skills and development

As businesses adopt more agile structures, project-based work continues to rise. Key skills to develop include:

Scenario planning and variance analysis

Project forecasting and lifecycle costing

Use of tools like Microsoft Project, NetSuite, or SAP

Cross-department communication and stakeholder influence

How industry affects the role

Project accounting varies widely by sector:

Construction and engineering: Revenue recognition, cost capture and allocation, subcontractor payments, capital budgets, and PFI (Private Finance Initiative) contracts

IT and tech: Managing software implementation or product launch costs

Professional services: Time-based billing and resource allocation

Manufacturing: Capital expenditure (CapEx) and production initiatives

Role differences by company size

Startups/SMEs: Broader responsibilities across finance and operations

Corporates/Multinationals: More defined reporting lines, complex project portfolios

Sought-after benefits

Common benefits associated with this role include:

Project completion bonuses or profit-share schemes

Hybrid work arrangements

Pension contributions and financial planning tools

Support for continued professional development

Career progression

Project Accountants can move into roles such as:

Finance Business Partner

Project Controller

Commercial Finance Manager

Senior Financial Analyst

They may also transition into programme management or strategic planning roles.

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Salary for Project accountant

54500 - 63000

25th percentile

54500

The candidate has little or no prior experience in the position and is still developing relevant skills.

50th percentile

57500

The candidate has an average level of experience and has most of the necessary skills.

75th percentile

63000

The candidate has above-average experience, has most or all the necessary skills, and may have specialised qualifications

Projected salaries for related positions

Position title

25th percentile

50th percentile

75th percentile

Financial Planning & Analysis Manager

65750

75500

85750

Financial Planning & Analysis Analyst

50500

55500

61500

Financial Modeller

59250

69500

85500

Senior Finance Business Partner

65750

71250

84250

Finance Business Partner

55500

60500

65250

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