Construction AP/AR Specialist

Job DescriptionJob Description

Job Summary:

We are seeking an organized and detail-oriented Construction Accounts Payable/Receivable (AP/AR) Specialist to join our team. This position plays a critical role in managing financial transactions related to accounts payable and receivable for construction projects. The ideal candidate will be responsible for maintaining accurate records, processing invoices, coordinating payments, and ensuring compliance with company policies and procedures.

Key Responsibilities:

Accounts Payable (AP):

• Process and review construction-related invoices, ensuring accurate matching with purchase orders, contracts, or work orders.
• Verify coding and approval of invoices before processing for payment.
• Prepare and process payments to vendors, subcontractors, and suppliers, ensuring timely and accurate disbursements.
• Monitor and resolve discrepancies or issues related to AP transactions.
• Maintain detailed records of payments and ensure proper documentation is filed for audit purposes.
• Reconcile vendor accounts, including resolving any outstanding issues related to payments or invoices.

Accounts Receivable (AR):

• Manage the preparation and issuance of invoices for completed construction projects or milestones.
• Monitor outstanding receivables and follow up with clients and subcontractors to ensure timely payment.
• Ensure accurate recording of all AR transactions and adjustments in the financial system.
• Prepare and maintain aging reports, tracking overdue invoices and escalating as needed.
• Collaborate with project managers and the finance team to ensure timely collections and accurate invoicing.
• Assist in the preparation of financial reports, including cash flow forecasts and project profitability analysis.

General Responsibilities:

• Maintain accurate and up-to-date records for all AP/AR transactions within the accounting system.
• Communicate with internal and external stakeholders (e.g., vendors, clients, subcontractors) to address inquiries or resolve issues.
• Ensure compliance with construction industry standards, company policies, and local regulations.
• Assist with month-end and year-end closing processes, including the preparation of financial statements and reports.
• Provide support during internal and external audits.

Required Skills:

• Proficiency in accounting software (e.g. Sage, ProContractor or Procore) and Microsoft Excel.

· Service-Oriented Approach: Provide exceptional service by addressing client and vendor inquiries with professionalism and timely responses, ensuring positive relationships and satisfaction.

· Strong Analytical Skills: Utilize strong analytical abilities to review and assess financial transactions, identify discrepancies, and resolve issues efficiently, ensuring accuracy in accounts payable and receivable processes.

· Collections: Proactively manage overdue accounts, employing effective collection strategies and communication skills to follow up with clients and vendors for timely payments. Escalate issues when necessary and ensure compliance with payment terms.

· Multi-tasking Ability: Demonstrate the ability to manage multiple priorities in a fast-paced environment, balancing competing deadlines and responsibilities while maintaining attention to detail and accuracy.

· Troubleshooting Skills: Address and resolve any financial discrepancies, billing issues, or system errors by leveraging problem-solving techniques to identify root causes and implement solutions effectively.

Qualifications:

• Bachelor's degree in Accounting, Finance, Business Administration, or a related field ().
• Minimum of 2-3 years of experience in AP/AR or accounting, preferably in the construction industry.
• Strong knowledge of construction accounting practices, including job costing, billing, and payment processing.
• Exceptional organizational and time management skills with attention to detail.
• Strong communication skills, both written and verbal.
• Ability to work independently and as part of a team.
• Knowledge of construction contracts and payment terms ().
• Ability to handle sensitive financial information with integrity and professionalism.

Physical Requirements:

• Ability to sit for extended periods while working on a computer.
• Occasional lifting of office supplies or files (up to 25 lbs).

It is the policy of the company to provide equal employment opportunities without regard to , , , , , ancestry, , , marital status, veteran status, , , genetic information, housing status or any other protected characteristic under applicable law. This policy relates to all phases of employment, including, but not limited to, recruiting, employment, placement, promotion, transfer, demotion, reduction of workforce and termination, rates of pay or other forms of compensation, selection for training, the use of all facilities, and participation in all company-sponsored employee activities. Provisions in applicable laws providing for bona fide occupational qualifications, business necessity or limitations will be adhered to by the company where appropriate.

Company DescriptionMidwestern Electric is the leading provider of Commercial, Industrial and Transportation electrical services. MWE specializes in working directly with Commercial and Industrial customers providing them with a complete in-house electrical contractor. MWE also specializes in the maintenance and installation of traffic signals, streetlights, and Intelligent Transport Systems (ITS) for government customers including the Indiana Department of Transportation and the majority of local municipalities. The company was founded in 1971 and has developed an expansive footprint across the State of Indiana with offices in East Chicago as well as Indianapolis.Company DescriptionMidwestern Electric is the leading provider of Commercial, Industrial and Transportation electrical services. MWE specializes in working directly with Commercial and Industrial customers providing them with a complete in-house electrical contractor. MWE also specializes in the maintenance and installation of traffic signals, streetlights, and Intelligent Transport Systems (ITS) for government customers including the Indiana Department of Transportation and the majority of local municipalities. The company was founded in 1971 and has developed an expansive footprint across the State of Indiana with offices in East Chicago as well as Indianapolis.