What is the WIP Report?

The Work-in-Progress (WIP) report gives you a financial snapshot of your jobs while they’re still under construction. It helps you see where you stand on costs, revenue, and profitability in real time.

With this report, you can quickly answer questions like:

• How much work have we really completed?

• Are we over-billed or under-billed on this job?

• Are we on track to hit our profit goals?

Think of it as a tool to track progress, recognize revenue, and spot potential issues before they become problems.

Why the WIP Report Matters

Running jobs is about more than just tracking costs as you need to understand whether you’re billing correctly, making money, and keeping projects financially healthy.

The WIP report helps you:

• Track job progress by comparing costs to completion

• Spot under-billing or over-billing so you can take corrective action

• See projected profit while jobs are still in progress

• Forecast revenue with confidence

Instead of waiting until the end of a project to see how it performed, the WIP report gives you visibility while it’s happening.

Why Can't I See My WIP Report?

You will only see the WIP report with jobs if:

• Your Job Costing Budget is set to report your Actual Costs as Accrual.

• You have the View Reports permission on. (If you do not see the Reports tab at the top of your Buildertrend account, this permission is not on.)

   

   

• Most recent 200 jobs sent to the budget (Only open jobs show in the report)

Understanding the WIP Report Columns

The WIP report is made up of two parts:

1. Data points – the calculated financial metrics that tell the story of your job’s health

2. Job details – context like job name, contract type, or project manager

Data Point Columns

These are the key calculations that make the WIP report powerful:

• Revised Client Price
  The latest total price for the job.

  • For Fixed Price jobs, this includes your revised budget costs plus markup/margin from allowances, selections, bids, and change orders.

  • For Open Book jobs, it’s based on projected costs minus builder variance, plus the same markup/margin.

• Projected Costs
  The best estimate of what the job will cost when finished. It looks at revised budgets, committed costs, pending costs, and any adjustments.

• Actual Costs
  What you’ve spent so far, including open and paid bills, variance bills, approved time clock shifts, and (if connected) bills/expenses from QuickBooks.

• Amount Invoiced
  The total of all client invoices you’ve released.

• % Complete of Job
  Shows how far along the job is, based on costs:
  ​(Actual Costs ÷ Projected Costs) × 100

• Projected Profit ($)
  The profit you expect to make:
  ​(Revised Client Price – (Projected Costs + Applied Credit Memos))

• Projected Profit (%)
  Profit as a percentage of your revised client price.

• Earned Revenue
  How much revenue you’ve “earned” based on job progress:

  ​(Revised Client Price × % Complete)

• Over/Under Billing Amount
  The difference between what you’ve billed and what you’ve earned.
  ​(Amount Invoiced – Earned Revenue)

  • Positive = over-billed

  • Negative = under-billed

• Over/Under Billing %
  The percentage of how much you’re over or under, compared to the revised client price. ​

  ((Amount Invoiced – Earned Revenue) ÷ Revised client price)

• Profit Earned
  The profit you’ve actually earned so far, based on job completion.

Job Detail Columns

These help you sort, filter, and organize the WIP report:

• Contract Type: Whether the job is Fixed Price or Open Book

• Job Group: A user-defined grouping for your jobs

• Job Name: The name of the job

• Project Manager: The manager(s) responsible for the job

How to Use the WIP Report

• Check for under-billing: If “Earned Revenue” is higher than “Amount Invoiced,” you’ve billed less than you’ve earned.

• Confirm profit health: Use Projected Gross Profit and Gross Profit Earned to make sure you’re on track.

• Forecast cash flow: % Complete and Earned Revenue give insight into what’s coming.

The WIP report helps you stay ahead so that you’re not surprised at the end of the job.

How does the Projection Reference affect the WIP Report?

The Projection Reference field in the Job Costing Budget determines how Projected Costs are calculated. Any changes to this field will be reflected in the Work-In-Progress Report.