Construction Bookkeeping: Job Costing & WIP
Job costing setup
- COA aligned to labor, materials, subs, equipment
- Projects with budgets, classes/items
- Change orders & retainage tracking
WIP and revenue recognition
- %-of-completion basics (cost-to-date / total cost)
- Over/under-billings and margin visibility
- Tie WIP to monthly close & job P&L
Subcontractor compliance
- W-9s, COIs, 1099s; lien waivers
- Certified payroll (if required)
- Vendor pre-qualification and tracking
Pricing bands
- Specialty contractor: $500-$1,000/mo
- GC with WIP/retainage: $900-$1,800/mo
- Multi-crew/multi-entity: $1,600-$2,800+/mo
Related: Cost by State · Accounting 101
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FAQs
What’s required for job costing?
A project-oriented COA, budgets, change orders, and capturing labor, materials, and subs against each job.
How does WIP improve decisions?
WIP reveals over/under-billings and percent-complete so you can spot margin slippage early and manage cash.
What’s a common price range?
$500-$1,800+ per month depending on scope, WIP, and the number of concurrent jobs.
