CONTRACTOR WIP SCHEDULE · RUNS IN YOUR BROWSER · NOTHING UPLOADED

Is the profit on your open jobs real?

Enter each open job with its contract, estimated total cost, cost to date and billed to date. The tool builds the work-in-progress schedule your bank and surety ask for: percent complete, earned revenue, over- and underbilling, the whole loss on any job that will lose money, cash still to come on each job, and what a cost overrun would do to your margins. Add your working capital to see backlog against it.

Your job list never leaves this browser tab. Arithmetic on numbers you supply, not accounting, tax or financial advice, and not a surety or lender opinion.

Your open jobs

Optional

The prior estimate column is optional and shows how far each estimate has grown since your last schedule. The multiples are planning figures, not any surety's limits. Use the working capital from your own statements.

Upload or paste your jobs, then click Build the schedule.

How it is calculated

Percent complete is cost to date divided by the current estimated total cost, capped at 100%. Earned revenue is that percentage of the contract. Over- or underbilling is billed minus earned. Estimated gross profit is the contract minus the estimated cost; if it is negative the whole expected loss is recognised now, and the tool shows the part already inside your costs and the provision still to book. Backlog is contract minus earned. Cash still to come is the amount left to bill minus the amount left to spend. The stress test raises every estimate by the percentage you enter and reruns the schedule. With working capital entered, backlog is divided by it, and by working capital less underbillings, which some sureties use.

Not modelled: change orders not yet approved, retainage and its release timing, taxes and tax-basis methods, completed-contract or other accounting elections, material stored off site, job overhead allocation, bonding rates and any surety's actual limits, and timing of receipts. Unverified: the arithmetic is checked in unit tests against hand-calculated cases; it is not reviewed by an accountant or surety, and the results are only as good as your estimates to complete.

Common questions

What is a WIP schedule and why do lenders and sureties ask for it?

A work-in-progress schedule lists every open job with its contract, estimated total cost, cost to date and billings to date. It shows how much revenue you have really earned on each job, whether you are billed ahead or behind, and what profit is still to come. A surety or bank reads it to see whether your reported profit is real and whether you can finish the jobs you hold.

What does percent complete mean here?

Cost to date divided by the current estimated total cost, the cost-to-cost method. A job with 51,000 spent of an estimated 68,000 is 75% complete. Earned revenue is that percentage of the contract. It is only as good as the estimate, which is why an estimate that has not been updated is the most common way a schedule misleads.

What is overbilling and underbilling?

Overbilling means you have billed more than you have earned; it is a liability, cash you hold that you still owe work for. Underbilling means you have done more work than you have billed, an asset that is not yet a receivable. Both are shown job by job and in total.

Why does a losing job show its whole loss now?

When the estimated cost is above the contract the job will lose money however far along it is, so the expected loss is recognised as soon as you know it rather than a little at a time. The schedule shows the loss already inside your costs and the provision still to book.

What is cash still to come?

What is left to bill minus what is left to spend. When it is negative you have already billed more than the job's margin over its cost, so finishing the job will consume cash you are holding today. It is the clearest warning that front-loaded billing is borrowing from the end of a job.

What do the backlog and working capital figures mean?

Backlog is the contract value you have not yet earned. If you enter working capital (current assets less current liabilities) the tool compares backlog with it, and with working capital that leaves out underbillings. The multiples it uses, 10 times for a single job and 20 times in total, are planning figures you can change. Sureties set their own limits.

How does the cost-growth stress test work?

It raises every job's estimated cost by a percentage you choose, 5% by default, and reruns the schedule. It shows the profit you would give up and which jobs would turn into losses, so you can see how much slack your margins really have.

Is my job list uploaded anywhere?

No. The file is read and analysed in this browser tab. Nothing is sent to a server, there are no accounts or cookies, and the tool never stores your jobs. It works offline once the page has loaded.