Free Resource
Stop finding out a job lost money after it closes.
Get the WIP Schedule Template built for $1M-$20M commercial contractors using QuickBooks Online.
A job can look fine from the outside.
Crews are moving. Invoices are going out. Cash is coming in.
Then closeout hits and the margin is gone.
The WIP Schedule Template helps you see the truth earlier: which jobs are profitable, which jobs are bleeding, how much revenue has actually been earned, and whether billing is ahead or behind the work performed.
Accounting
Tax
Advisory
Bookkeeping
Small Business Accounting
Startup Accounting
Tax Preparation
Tax Planning
Small Business Tax
Find Out
Know which jobs are actually making money.
Revenue does not prove profit. Cash does not prove progress.
See What Matters
A WIP schedule shows what matters while the job is still active: contract value, approved change orders, cost-to-date, earned revenue, total billed, overbilling, underbilling, projected gross profit, and backlog remaining.
That is the report your bank, bonding agent, and CPA will eventually ask for. Better to have it before they do.
what’s inside
What’s inside the template
The Excel file gives your team a practical WIP reporting system without starting from a blank spreadsheet.
Start Here tab
WIP Schedule tab
QBO Setup Guide
Profit-fade visibility
Overbilling and underbilling checks
Quickbooks
Built for contractors using QuickBooks Online.
Underbilling means you have earned revenue you have not invoiced. That is a cash flow problem.
Overbilling above 20 percent of a contract can raise flags with surety agents because it means you have billed ahead of the work performed.
Profit fade means the job is going sideways before closeout proves it.
A job with more than 90 percent of costs incurred and less than 90 percent billed is usually under-invoiced.
QuickBooks Online can work for construction, but only when the setup is clean.
- Every job needs to be tracked as a Project or Class.
- Every cost needs to land in the right place.
- Labor, materials, subcontractors, equipment, and other direct costs cannot sit in generic expense buckets.
The template gives you the WIP structure.
The setup guide shows how QBO needs to support it.
Toran Accounting helps construction owners make the whole system reliable enough for monthly decisions.
These are not spreadsheet details. These are owner-level risks.
Gaps
Construction accounting gaps get expensive fast.
A construction and contracting client came back to Toran after unresolved IRS notices, missing filings, late contractor reporting forms, and enforcement risk had stacked up over time.
After Toran reviewed the records, coordinated resolution work, and helped bring the client back into compliance, more than $100,000 in proposed or assessed balances were cleared or prevented. The case study also documented $90,195.09 in personal penalties and interest that had already been paid because earlier gaps were not corrected in time. Results were client-specific and not a guarantee of future outcomes.
Small accounting gaps do not stay small in construction.
Template
Get the WIP Schedule Template
Use it before your next monthly review, bonding conversation, banking meeting, or year-end planning session.
Get Started
About Toran Accounting
Toran Accounting works with $1M-$20M construction companies that need cleaner job costing, better WIP reporting, stronger QuickBooks Online setup, and financials owners can actually use. The focus is construction accounting, tax compliance, cash flow, job-cost visibility, bonding-ready reporting, and senior advisory support.