A bonding-grade WIP schedule every month, honest estimates to complete, and job costs coded while the job is still open.
In construction the WIP schedule is the financial statement that matters. Over- and underbilling is where profit hides and where losses hide longer, and a surety will read it before anything else.
We run the accounting and CFO function for general contractors and specialty trades where job cost discipline decides the year.
Without a WIP schedule, over- and underbilling distort every period, and a job going bad stays invisible until it's finished.
Cost-to-cost recognition under ASC 606 is only as good as the estimate to complete. Optimistic estimates pull profit forward and reverse it later.
Ten percent held across every active job is working capital sitting with the owner while payroll and material bills come due.
Cost coding that arrives at month end makes overruns historical facts instead of fixable problems.
We produce a monthly WIP schedule with over- and underbilling, recognize revenue on percentage of completion against documented estimates to complete, track retainage receivable and payable separately, and get job costs coded weekly rather than at month end.
Monthly, in a format sureties and lenders accept.
Cost-to-cost with documented estimates to complete.
Weekly coding, committed costs visible before they land.
Tracked separately, forecast explicitly.
Statements and schedules that support capacity increases.
Long-term contracts generally require percentage of completion for tax, with exceptions for small contractors and home construction that are worth testing against. Look-back interest applies to certain contracts. Equipment purchases and Section 179 timing carry real cash impact. Work crossing state lines triggers registration, apportionment, and withholding obligations job by job.
Yes. Bonding-grade WIP reporting with estimates to complete is a core part of the engagement, not an add-on.
We work from whichever system holds job cost and reconcile into the ledger. We don't force a migration to suit ourselves.
Approved change orders adjust contract value and estimates to complete. Unapproved ones are tracked separately so revenue isn't recognized on work that may never be paid.
Tell us where you are today. We will follow up within one business day with a view on what is worth fixing first.
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