Inventory accountant vs project accountant

The differences between inventory accountants and project accountants can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both an inventory accountant and a project accountant. Additionally, a project accountant has an average salary of $60,467, which is higher than the $59,285 average annual salary of an inventory accountant.

The top three skills for an inventory accountant include reconciliations, financial statements and external auditors. The most important skills for a project accountant are reconciliations, project management, and contract terms.

Inventory accountant vs project accountant overview

	Inventory Accountant	Project Accountant
Yearly salary	$59,285	$60,467
Hourly rate	$28.50	$29.07
Growth rate	6%	6%
Number of jobs	56,492	43,672
Job satisfaction	-	5
Most common degree	Bachelor's Degree, 71%	Bachelor's Degree, 72%
Average age	44	44
Years of experience	4	4

What does an inventory accountant do?

An inventory accountant is in charge of overseeing and managing the costs involving a company's inventory operations. It is their duty to monitor transactions, update general ledgers, gather and analyze data, perform audits and assessments, and produce regular inventory reports. They must also observe and be alert for any inconsistencies and discrepancies, dealing with them according to the policies and regulations. Moreover, an inventory accountant must maintain an active communication line with staff for a smooth and efficient workflow.

What does a project accountant do?

A project accountant is primarily in charge of overseeing the budget and expenditures allocated for various projects within a company. Their responsibilities revolve around reviewing financial data and work plans, managing billing and financial reports, monitoring the flow of revenue, filing purchase orders and invoices, and processing payments to subcontractors, suppliers, and more. It is also vital to coordinate with all managing personnel to prepare necessary reports such as costs and taxes. Furthermore, it is essential to maintain data and records of all transactions, all while implementing the company's policies and regulations.

Inventory accountant vs project accountant salary

Inventory accountants and project accountants have different pay scales, as shown below.

	Inventory Accountant	Project Accountant
Average salary	$59,285	$60,467
Salary range	Between $46,000 And $76,000	Between $46,000 And $79,000
Highest paying City	San Francisco, CA	Washington, DC
Highest paying state	California	New Jersey
Best paying company	RH	Perficient
Best paying industry	Energy	Professional

Differences between inventory accountant and project accountant education

There are a few differences between an inventory accountant and a project accountant in terms of educational background:

	Inventory Accountant	Project Accountant
Most common degree	Bachelor's Degree, 71%	Bachelor's Degree, 72%
Most common major	Accounting	Accounting
Most common college	University of Pennsylvania	University of Pennsylvania

Inventory accountant vs project accountant demographics

Here are the differences between inventory accountants' and project accountants' demographics:

	Inventory Accountant	Project Accountant
Average age	44	44
Gender ratio	Male, 50.6% Female, 49.4%	Male, 36.8% Female, 63.2%
Race ratio	Black or African American, 8.9% Unknown, 4.0% Hispanic or Latino, 11.2% Asian, 12.1% White, 63.4% American Indian and Alaska Native, 0.5%	Black or African American, 8.7% Unknown, 4.0% Hispanic or Latino, 11.1% Asian, 12.3% White, 63.5% American Indian and Alaska Native, 0.5%
LGBT Percentage	7%	7%

Differences between inventory accountant and project accountant duties and responsibilities

Inventory accountant example responsibilities.

Prepare internal financial reports for treasury manage accounts include in external compliance reports.
Collaborate with external CPA firm in recording accumulate amortization/depreciation and extend tax returns.
Provide monthly consignment inventory balances to customers, roll-forward reports and reconciliations for goods in transit.
Perform both wire and ACH transfers on a weekly basis.
Prepare checks, including ACH transactions, wire transfers, web payments.
Review and verify paperwork for all vehicle purchases to satisfy SOX and internal audit procedures and standards.

Project accountant example responsibilities.

Maintain general ledgers, manage cash flow, prepare financial statements and bank reconciliations for multiple development and construction projects.
Assure timely accurate filing of all Medicare, Medicaid and commercial insurance claims.
Review the collection of Medicare, Medicaid and other receivables to ensure monthly goals are met.
Used DelTek to find discrepancies in employee charge hours.
Serve as major contributor in system conversion to new web-base ERP system.
Identify and rectify accounting errors that have incurred in the past and ensure adherence to IFRS.

Inventory accountant vs project accountant skills

Common inventory accountant skills

Reconciliations, 11%
Financial Statements, 4%
External Auditors, 4%
Internal Controls, 4%
Account Reconciliations, 4%
GAAP, 4%

Common project accountant skills

Reconciliations, 8%
Project Management, 6%
Contract Terms, 5%
Purchase Orders, 4%
Deltek, 4%
Revenue Recognition, 4%

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Inventory Accountant vs Project Accountant

Updated January 8, 2025

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