To record and report financial data in an accurate and timely manner so that management can make informed decisions regarding company operations.
Duties and Responsibilities/Essential Functions
Prepare Monthly Financials including:
Balance Sheet line item Reconciliations
Review all I/S accounts for coding errors/issues and recode as necessary
Obtain copies of Fixed Asset & contributions invoices; review for coding
As needed, prepare distributions to owners, coordinate lot acquisitions & funding draws
Perform monthly job cost and general ledger closeout procedures to include, but not limited to:
Bank reconciliations, month-end adjusting journal entries, general ledger account reconciliations with subsidiary ledgers, indirect cost allocation, work in process review and close jobs. To be completed by the COB fifth business day.
Review closed jobs for outstanding items (last 6 months)- AP Estimate
Review job budgets for +/- 1%:
Prepare a monthly ratio analysis to include at a minimum: debt/ equity ratio, return on equity, return on assets, land as a percentage of sales, direct construction costs as a percentage of sales.
Prepare a monthly gross margin report by individual house closed.
Prepare a monthly budget variance report.
Work with Purchasing to determine accruals and cost to complete on closed jobs.
Prepare journal entries and update subsidiary ledgers as needed for deposits, HUD-1's, bank draws, commissions, bank transfers, and miscellaneous items on a weekly basis.
Input biweekly payroll data into Sage and review 401k monthly matches and input into Sage.
Calculate Earned Incentive Quarterly and once approved, provide to HR.
Annually work with CPA firm on third party audit of Atlantic Builders financial statements. All documents for the audit and tax return must be submitted to CPA by January 31 each year.
Send Audited Financials to lenders and CPA preparing tax return.
Assist CFO in creating annual budget. Input annual budget in Sage.
Prepare 3, 6, 9 and 12-month projections for various accounting metrics.
Prepare Builder 20 financials quarterly and assist in annual restatement of financial statements to Builder 20 format.
Annually prepare personal property tax returns, review and approve real estate taxes for payment and renew all business licenses.
LLC’s with ownership by Atlantic Builders’ principals - prepare, as needed, deposits, draw requests, bank reconciliations, check requests, update subsidiary ledgers and close monthly. Monthly close will include sending out a summary to the owners for each LLC. Summary and any distributions should be sent out on or before the 20th of each month. LLC’s should be closed for the year and submitted to CPA by February 15.
Supervise AP Clerk.
Download bank operating account details and reconcile daily.
Monitor Bond and Warranty Reserve. Allocate the cost appropriately. Old jobs that are out of warranty are expensed and not applied to the accruals. Reconcile Quarterly to be sure the reserve has been adjusted for over/under amounts.
Monitor CY/PY Accruals and adjust to actual quarterly. This will include working with Trade Partners and Project Managers monthly to ensure cost to complete items are completed and invoiced in a timely fashion.
Manage Gross Margin Spreadsheet and be sure it is updated daily. Work with Purchasing to get the process automated.
Atlantic Builders is an award-winning, privately owned regional builder that has delivered thousands of brand new homes in the Fredericksburg, Virginia area for over a quarter century and is now building in the Charlottesville region as well. We have a simple philosophy: Build the best homes possible and create extraordinary relationships. We do that through our passion, dependability and dedication to excellence.