Advanced
Construction WIP schedule: percent complete and billings
Builds a construction Work-in-Progress (WIP) schedule including percent complete, revenue recognized, billings, and under/over billings. Useful for contractors and auditors.
Create a construction WIP schedule for {contractor_name} for {period_end_date}.
Inputs:
- Job list with contract price and approved change orders: {job_contracts}
- Costs incurred to date and estimated cost to complete: {job_costs_estimates}
- Billings to date and retainage: {billings_retainage}
- Revenue recognition method (cost-to-cost, etc.): {method}
- Any claims/unapproved change orders: {claims}
Output:
1) WIP table by job: contract value, total est cost, costs to date, % complete, revenue to date, revenue this period, billings to date, over/under billing.
2) Exception flags (loss jobs, large estimate changes, unapproved COs).
3) Suggested journal entries (under/over billings, loss accruals).
4) Documentation checklist for auditors/banks.
Be explicit about assumptions and rounding.Related Prompts
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IntermediateRevenue cycle analytics: denials, days in AR, and cash acceleration
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GPT-5.2 Thinking; GPT-4.1; o3-mini
0
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163