Back to Resources Free Download

WIP Schedule Template for Contractors

A working Excel schedule built on the cost-to-cost percentage-of-completion method — the format your lender and surety expect. Fourteen sample jobs already filled in so you can see how it behaves before you put your own numbers in.

What's in it

  • Percentage of completion calculated automatically from cost to date
  • Over- and under-billing worked out per job
  • Split into costs in excess of billings and billings in excess of costs
  • Portfolio backlog and gross margin
  • Fourteen worked sample jobs showing both billing positions
  • Plain-English notes on how every column is derived

How the schedule calculates

ColumnCalculation
% CompleteCost to date ÷ current budget
Earned revenueFinal contract × % complete
Over / (under) billingEarned revenue − billed to date
BacklogFinal contract − billed to date

Blue cells are inputs. Everything else calculates, so changing a budget or a cost updates the whole schedule. Built on the cost-to-cost percentage-of-completion method that lenders and sureties expect.