Construction Work in Progress Calculator Template

For construction companies that perform contact work, the work in progress (WIP) is an essential financial tool and accurate way to know the true profitability of the company

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General overview

For construction companies that perform contract work, the work in progress (WIP) is an essential financial tool and an accurate way to know the true profitability of the company.

The goal of this template is to have a financial reporting tool that shows if you are “Over or under billed and cash positive or negative not only for each project but when all of the individual projects are taken together, for the entire company as a whole.

Inputs

Update the general info in the Front Page
Enter the data in the “Work in progress” sheet, fill only the green cells

Outcome

The input will dynamically flow in the following below:
Estimated cost to complete the project
% of completion to date
Profit to date
Recognized revenue or amount earned
Remaining cost to complete the project
Under/Overbilled amount
Entries to record over/under billings

Conclusion and customization

This is a highly versatile, very sophisticated financial model template, and is also user-friendly.
If you have any inquiries, modification requests, or other requests of assistance to customize the model template for your business case please reach me through: [email protected]

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