Free download
A WIP schedule template that does the math right.
Cost-to-cost percent complete, earned revenue, over and under billing, GP %, backlog, and a risk flag per job, with plain-language definitions and matching Power BI measures. No email required.
Download the Excel template.xlsx · 4 tabs: WIP Schedule, Definitions, Power BI measures, About
What every column calculates
| Column | Formula |
|---|---|
| Revised contract | Original contract + approved change orders |
| % complete | Cost to date ÷ estimated cost at completion, capped at 100% |
| Earned revenue | Revised contract × % complete |
| Over billing | Billed to date − earned revenue, when positive |
| Under billing | Earned revenue − billed to date, when positive |
| Estimated gross profit / GP % | Revised contract − EAC; ÷ revised contract |
| Cost to complete / backlog | EAC − cost to date; revised contract − earned revenue |
| Risk label | No forecast / At risk (GP < 0) / Watch (GP < 10%) / On track |
Totals are summed job by job, never by averaging percentages. For the full method and the mistakes that make a WIP schedule look right while being wrong, read the WIP reporting guide. Terms like over/under billing and retainage are defined in the glossary.
When a spreadsheet stops being enough
The template is the right tool for a handful of jobs. Past that, the work is getting the numbers into it: exports from Procore, job cost from accounting, matching jobs that don't share an ID. That's the part we automate. Estimate what that work costs you or see the WIP & Cash Forecast offer.
Frequently asked questions
What is a WIP schedule in construction?
A work-in-progress (WIP) schedule lists every open job with its contract value, estimated cost at completion, cost to date, percent complete, earned revenue, and billings. It shows whether each job is over or under billed and what margin it's heading toward, and sureties and lenders rely on it.
How is percent complete calculated in this template?
With the cost-to-cost method: cost to date divided by estimated cost at completion, capped at 100%. It's the most common method for contractors, but confirm the method your CPA uses for your financial statements.
Why does my WIP schedule balance but still look wrong?
Usually because of stale or blank estimates at completion, pending change orders added to contract value, or job lists that differ between the project management and accounting systems. The Definitions tab lists the common mistakes; our WIP guide covers them in depth.
Can this be automated from Procore and our accounting system?
Yes. That's most of our reporting work: contract, forecast, and cost data from Procore, billing and job cost from accounting, matched by a crosswalk, checked for quality, and refreshed nightly in Power BI with month-end snapshots.
Next step
Want this built nightly from your systems?
Tell us which PM and accounting systems you run. We'll reply with how we'd automate your WIP schedule, and what it would take.