Free tool · Finance
WIP and over/under billing calculator
See whether a job is billed ahead of the work or behind it, then run your whole WIP schedule with flags for under billing, fade, and cost above estimate. Same definitions as our Excel WIP template and metric dictionary.
1. One job: are you billed ahead of the work, or behind it?
Prefilled with the worked example from our WIP guide. Replace the numbers with one of your jobs.
You've billed $60,000 ahead of the work. That's over billing: a liability on the balance sheet ("billings in excess of costs and estimated earnings").
Revised contract
$1,000,000
% complete
50.0%
Earned revenue
$500,000
Over billing
$60,000
Liability
GP at completion
$150,000
15.0% · On track
Fade / gain vs original
-2.0 pts
Original GP 17.0%
Cost to complete
$425,000
Backlog
$500,000
Billed to date
$560,000
56.0% of revised contract
Reopen this job: https://www.buildflows.ai/tools/wip-calculator?c=940000&co=60000&oc=780000&eac=850000&ctd=425000&b=560000#single-job
2. Your WIP schedule: every open job, with flags
These six jobs are synthetic, made up to show each flag. Edit cells, add or remove jobs, or paste rows straight from Excel. Totals are summed job by job; portfolio GP % is total GP ÷ total revised contract, never an average of job percentages.
Scroll the table sideways for calculated columns and flags.
| Job | Contract | Approved COs | Original est. cost | EAC | Cost to date | Billed to date | % complete | Earned revenue | Over / (under) | GP % | Fade (pts) | Flags | Remove |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 60.0% | $2,628,000 | ($178,000) | 13.7% | +0.6 | |||||||||
| 75.0% | $5,100,000 | $200,000 | 5.6% | -6.9 | |||||||||
| 25.0% | $798,750 | $21,250 | 13.6% | +0.7 | On track | ||||||||
| 100.0% | $1,510,000 | ($130,000) | 7.9% | -6.5 | |||||||||
| 50.0% | $1,125,000 | $115,000 | -2.7% | -14.7 | |||||||||
| 20.0% | $1,984,000 | ($84,000) | 13.3% | +0.3 | On track | ||||||||
| Total (6 jobs) | 27,400,000 | 655,000 | 23,870,000 | 25,260,000 | 12,073,000 | 13,090,000 | 47.8% | $13,145,750 | ($55,750) | 10.0% |
Paste rows from Excel
Copy cells from Excel in this column order: Job, Contract, Approved COs, Original est. cost, EAC, Cost to date, Billed to date. A header row is skipped automatically. Leave EAC blank or 0 for jobs with no forecast. Nothing leaves your browser.
Over billed (gross)
$336,250
Under billed (gross)
$392,000
Net under billed
$55,750
Portfolio GP %
10.0%
Show gross over and under billing next to the net: a large over billing on one job can hide a large under billing on another.
- Riverside Medical OfficeUnder $178,000
- Elm St. Parking StructureOver $200,000
- Lakeview Elementary AdditionOver $21,250
- Harbor Warehouse TIUnder $130,000
- Northgate Retail ShellOver $115,000
- Cedar Ridge ApartmentsUnder $84,000
Show as a table
| Job | Over billed | Under billed |
|---|---|---|
| Riverside Medical Office | $0 | $178,000 |
| Elm St. Parking Structure | $200,000 | $0 |
| Lakeview Elementary Addition | $21,250 | $0 |
| Harbor Warehouse TI | $0 | $130,000 |
| Northgate Retail Shell | $115,000 | $0 |
| Cedar Ridge Apartments | $0 | $84,000 |
Jobs to review before sign-off
Riverside Medical Office
- Under billed above threshold
Elm St. Parking Structure
- GP fade of 6.9 pts vs original estimate
Harbor Warehouse TI
- Cost to date exceeds EAC: % complete would be 103%, capped at 100%
- Under billed above threshold
- GP fade of 6.5 pts vs original estimate
Northgate Retail Shell
- GP fade of 14.7 pts vs original estimate
- Projected loss
Next step
Still building this schedule by hand every month?
We build WIP schedules that refresh from Procore and your accounting system, with data-quality checks before publish and month-end snapshots so fade is measured, not reconstructed. Bring these numbers to a call.
3. Month-end WIP review checklist
What to check before signing off the WIP schedule. A WIP that balances can still be wrong; most of these catch exactly that. Tick them off here or print the page.
Go further
- Construction WIP reporting in Power BI: the formulas, data sources and mistakes in depth
- Free WIP schedule template (Excel) with matching Power BI measures
- Automated WIP schedule: what it looks like built from your systems
- Solutions for controllers
- Definitions: over/under billing, fade and gain, cost-to-cost percent complete
Frequently asked questions
How is percent complete calculated here?
Cost-to-cost: cost to date divided by estimated cost at completion, capped at 100%. Earned revenue is revised contract times percent complete. It's the most common method for contractors, but your finance team and CPA choose the method and any adjustments, such as excluding uninstalled materials.
Is over billing bad?
Not by itself. Modest over billing on a healthy job is normal and helps cash flow; it's recorded as a liability (billings in excess of costs and estimated earnings). Persistent under billing is more often the warning sign: unprocessed change orders, late billing or costs running ahead of the forecast.
Why does fade here compare to the original estimate?
So you can use the calculator without month-end history. On a real WIP report, fade is the change in GP % at completion between month-end snapshots. Both views are useful; the month-over-month one needs stored snapshots.
Is my data sent anywhere?
No. Everything is calculated in your browser. The single-job numbers are kept in the page link so you can share them; schedule rows stay on the page unless you export them or choose to send a brief.
A planning and teaching tool, not accounting advice. Revenue recognition method, retainage basis and loss treatment are decisions for your finance team and CPA.