QuickBooks Online cannot produce a WIP schedule — and without one, your surety won't bond you, your bank won't extend your credit line, and your CPA spends 6-8 hours every month rebuilding it in Excel. This agent fixes that. Give it your active jobs and it generates a GAAP-compliant Work-In-Progress schedule with percentage-of-completion, revenue earned, and over/under-billing positions in minutes. ## What's included - **Per-job WIP record** — contract amount, change orders, estimated cost to complete, costs to date, amount billed, retainage held - **Percentage-of-completion** — cost-to-cost method per GAAP ASC 606; input-method + output-method overrides for specialty trades - **Over/under-billing analysis** — earned revenue vs billings per job (overbilling = liability on books, underbilling = uncollected money you've earned) - **Surety-ready schedule** — formatted to match the standard CFMA / AGC WIP template most bonding companies + banks accept on first submission - **Margin-drift alerts** — flags any job where actual margin slipped >5% from original estimate before the bond company spots it - **Month-end conversation** — last month's WIP loaded → "what changed?" → updated schedule in 20 minutes (vs 8 hours in Excel) - **Trade-specific defaults** — GC, electrical, mechanical, framing, concrete, roofing each have different cost-to-cost adjustments + retainage norms built in ## Limitations - **Not a job-costing system** — pairs with QuickBooks / Sage 100 Contractor / Foundation; pulls your numbers in, doesn't replace AP/AR - **Not a CPA** — complex revenue-recognition questions (variable consideration, contract modifications) need your CPA - **Not a bonding agent** — produces schedules surety accepts; underwriting remains with your agent - **U.S.-GAAP-focused** — IFRS 15 has different over/underbilling mechanics; Canadian + UK contractors adapt - **Job-level scope** — 10-200 active jobs typical; larger operators should evaluate enterprise construction accounting ## Best fit General contractors, specialty trade contractors, and their bookkeepers / fractional CFOs managing 10-200 active jobs. Especially valuable for contractors trying to grow bonding capacity from $1M to $5M+ — the surety reads your WIP first, and a clean monthly schedule with no over-billing surprises directly increases the bonded backlog they'll underwrite. One $50K underbilling discovery typically pays for the year.
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