Pay Application Coordinator

Pay Application Coordinator

Requirements

• Understanding of construction project lifecycles, methodologies, and practices, including the phases of planning, design, bidding, construction, and closeout.
• Understanding of construction billing procedures, pay application cycles, and industry best practices.
• Proficiency in interpreting contract terms, payment schedules, milestones, and billing requirements.
• Knowledge of basic accounting principles and financial concepts relevant to pay applications and invoicing.
• Understanding of industry regulations, legal requirements, and accounting standards governing construction billing.
• Awareness of change order processes and their impact on pay applications and project billing.
• Utilize accounting and project management software for accurate payment tracking and reporting.
• Skill in addressing discrepancies, billing issues, and payment-related challenges.
• Strong organizational skills to manage multiple pay applications, schedules, and documentation efficiently.
• Skill in preparing payment status reports, project cost summaries, and other financial reports.
• Ability to manage deadlines, handle multiple tasks, and prioritize workload effectively.
• Meticulous attention to detail to accurately process pay applications, verify documentation, and ensure accuracy.
• Ability to maintain organized and accurate records of pay applications, invoices, and supporting documentation.
• Proficiency in Microsoft Excel, Microsoft Office Suite, and Project Management Software.
• Effective communication skills, oral and written, to address concerns and inquiries related to pay applications with project teams, contractors, and stakeholders.
• Ability to maintain discretion and confidentiality.

Responsibilities

• Prepare and process pay applications and invoices accurately, ensuring adherence to project milestones and contractual requirements.
• Review project contracts and agreements to understand billing terms, payment schedules, and invoicing requirements.
• Verify supporting documentation, including work completed, stored materials, and contractor invoices.
• Collaborate closely with project managers, contractors, vendors, and internal teams to gather necessary information for pay applications.
• Incorporate approved change orders and scope adjustments into pay applications, reflecting accurate project billing.
• Ensure pay applications adhere to industry regulations, accounting standards, and contractual terms.
• Prepare payment status reports, project cost summaries, and other financial reports as required by project stakeholders.
• Address and resolve discrepancies or issues related to pay applications, collaborating with relevant parties for resolution.
• Accurately input data and financial information into accounting systems and databases.
• Maintain organized records of pay applications, invoices, and related documentation for audit and compliance purposes.
• Communicate pay application status, billing inquiries, and related matters to clients and stakeholders professionally and promptly.
• Other duties as assigned.
• Attendance at work during normal business hours.

Preferred Qualifications

• High school diploma or equivalent (preferred).
• 2+ years of related experience in construction billing, pay applications, or related roles within the construction industry.