WIP Reporting
The Report That Tells You Whether Your Profit Is Real
A profitable looking month often means jobs were billed ahead of the work performed. A weak month often means the opposite. Without a work in progress schedule, an owner cannot tell the difference, and neither can a lender or surety.
We produce a monthly WIP schedule as part of the close, tied back to job cost records and the financial statements, with the overbilling and underbilling position clearly stated.
What the WIP package includes
Contract value and approved change orders
Cost incurred to date
Estimated cost to complete
Percent complete calculation
Earned revenue to date
Billings to date
Overbilling and underbilling position
Gross margin by job and in total
Estimate at completion versus original estimate
Backlog summary
What it prevents
Treating billed cash as earned profit
Discovering a fade in margin only at job close
Surprise swings in year end financial statements
Difficult questions from lenders and sureties you cannot answer
Taking on more work than working capital supports
How engagements are scoped
WIP reporting is typically delivered inside a monthly accounting or fractional CFO engagement. Scope depends on job volume, contract structure, and the condition of existing job cost data.
Where this usually leads next
Most engagements start with one financial problem and grow into ongoing support.
FAQ
Questions contractors ask about this
A work in progress schedule compares contract value, cost incurred to date, estimated cost to complete, and amounts billed for every open job. It shows how much revenue has actually been earned and whether each job is overbilled or underbilled.
Your financial reports should answer questions.
Not create more of them.
Book a 20-minute review of your job margins, cash flow and reporting — or model a contract's cash impact first with the free analyzer.
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