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How We Build Contractors a Real-Time WIP They Can Use in the Field

 

Your books live in your accounting file. Your WIP lives in a spreadsheet that's already weeks old. This guide shows how we make it live, and what changes for your business when it is.
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What's Inside

There's no shortage of ways to build a WIP schedule. Here's how we build one that's both live and accurate.

  • A Construction-Ready Accounting File — Most accounting files are set up for a general business, not a contractor. We rebuild the chart of accounts, cost codes, and job costing underneath your WIP so the numbers feeding it are trustworthy from day one.

  • A Live WIP Dashboard, Job by Job — Percent complete, cost to complete, over and under billings, projected gross profit, and cash flow by job, updated as costs and work log in, not estimated at month-end.

  • Monthly Job Reviews with Your PMs — We walk each open job's cost to complete with the project manager who owns it, so margin slippage and change orders get caught while there's still time to act.

  • A 13-Week Cash Flow Forecast by Job — Profitable on paper and cash-poor is a real problem in construction. This shows you exactly when a job is funding itself and when it's leaning on you.

  • Financials That Tie All Year — Over and under billings match your balance sheet, contract revenue and cost of goods sold match your income statement, checked every quarter so your surety and banker trust the numbers at year-end.

Our Construction Accounting Services

The WIP is where we start, but the financial leadership doesn't stop there.

We work alongside commercial contractors, providing practical financial insight they can use to:

  • Catch profit fade before it reaches closeout
  • Bill accurately and stay ahead of over/underbillings
  • Build cash flow visibility job by job
  • Strengthen surety and banking relationships with numbers that tie
  • Decide when to bring in heavier construction software, and when not to

We understand the operational realities behind the financials, because that's where the real decisions get made.

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Webb Shephard, CPA

The leader of James Moore's Construction Services Team, Webb has helped many industry clients with audits, reviews and compilations, tax planning and compliance, bonding and surety support, revenue cycle enhancement, transition planning and more, under tax, outsourced accounting and fractional CFO services. He is a member of Construction Industry CPAs and Consultants (CICPAC), and the Construction Financial Management Association (CFMA).

 

Contact Webb

Build a Real-Time WIP for Your Business

Download the guide to see how it works, then reach out if you'd like to build the same system on your own jobs.

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All content provided in these materials is for informational purposes only and is subject to change. For up-to-date guidance specific to your organization, please contact a James Moore professional. James Moore is not responsible for any claim, loss, or damage resulting from reliance on these materials.
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