WIP Reporting / Job Costing

Ensure Profitability with Accurate WIP Reporting & Job Costing for Construction Businesses in Onalaska, WI and Nationwide

Running a construction or trades business means staying on top of project progress and expenses to protect your profitability. I’m JL Bookkeeping Design, based in Onalaska, WI, and I specialize in WIP Reporting and Job Costing for construction and trades businesses both locally and across the country.

With years of experience in the construction industry, I understand the unique financial challenges you face. My services provide you with clear, actionable insights to help you manage costs, prevent overruns, and maximize the profitability of each project.

What You Get with My WIP Reporting & Job Costing Services

WIP Reporting and Job Costing are essential tools for construction businesses to keep a close eye on both project budgets and profitability. Here’s how my services can help your business thrive:

WIP Reporting

Work-in-Progress (WIP) reporting is critical for tracking the financial health of each project. Here’s how WIP reporting benefits your business:

• Budget Tracking: By regularly comparing the percentage of completion against incurred costs, I ensure that each project stays on track. This allows you to spot potential budget overruns before they become costly problems.
• Accurate Financial Insights: With WIP reporting, you get a real-time snapshot of a project’s financial health. This report breaks down percentage of completion, expenses incurred, current billings, as well as future insights per project. This will give you all the information you need to make sure that your budget is on track and that you are billing for what you have completed so that you maintain needed cash flow. With this reporting you can make mid-project adjustments to avoid surprises.
• Revenue Forecasting: WIP reporting doesn’t just look at current project status; it also allows for future revenue projections based on the percentage of work completed and pending.

Job Costing

With job costing, I track every cost and expense associated with specific jobs or projects, providing detailed insights that help you maximize profitability. Here’s what you can expect:

• Detailed Cost Tracking: I track everything, from materials and labor to subcontractor expenses. This ensures you know exactly where your money is going, down to the penny.
• Per-Project Profitability: Job costing allows you to evaluate the financial success of each individual project, so you can fine-tune pricing, adjust budgets, and ultimately improve overall profitability.
• Better Decision-Making: With an accurate view of your project costs, you can confidently make decisions about bidding on future jobs, setting pricing, and allocating resources to ensure that each project adds value to your bottom line.

Why Choose JL Bookkeeping Design?

• Monthly Video Call: Get the personalized attention your business deserves. Each month, I review your financial statements with you via video call and answer any questions you have, ensuring you’re always in the loop, no matter where your business is located.
• Industry Expertise: I specialize in bookkeeping for construction and trades businesses, meaning I understand your industry’s complexities better than most general bookkeepers.
• Profit-Focused Solutions: My goal is to implement processes that not only keep your finances organized but also boost your business’s profitability.
• Save Time: With my bookkeeping services, you can focus on your core business while I handle the financials. Leave the number crunching to me, so you can keep your projects running smoothly.
• Trusted Partnership: I offer personalized, reliable service that grows with your business, ensuring long-term financial success. You can count on me as a trusted partner in managing your business finances.

Frequently Asked Questions (FAQs)

1. How does WIP Reporting help my construction business?

WIP (Work-in-Progress) reporting provides a detailed breakdown of a project’s financial status by comparing the percentage of completion to the actual costs incurred. This ensures that your project stays on track and within budget. WIP reporting helps you spot potential issues before they become costly problems, allowing for better planning and resource allocation.

2. What is the difference between WIP Reporting and Job Costing?

WIP reporting tracks the financial progress of a job based on its completion percentage and expenses, while job costing looks at every cost associated with a specific project, including labor, materials, and overhead. Together, these tools ensure that each project is profitable and managed effectively.

3. Can you serve businesses outside of Onalaska, WI?

Absolutely! While I am based in Onalaska, WI, my bookkeeping services are available to construction and trades businesses nationwide. I use modern tools to stay connected with clients across the country, ensuring seamless communication and delivery of services.

4. How will regular WIP and Job Costing reports improve my profitability?

By providing real-time insights into your project’s financial health, WIP and job costing reports allow you to make adjustments quickly. This prevents costly overruns and ensures that every project is completed within budget, ultimately improving your profit margins.

5. How often will I receive reports?

I provide monthly reports, including a detailed WIP report and job costing analysis. We also schedule a monthly video call to go over your financial statements and answer any questions you may have.

Benefits of WIP Reporting & Job Costing

• Track project progress and ensure alignment with budgets and timelines
• Gain detailed financial insights for more accurate job estimates
• Prevent costly overruns and surprise shortfalls
• Maximize per-project profitability with accurate expense tracking
• Make smarter, data-driven business decisions
• Ensure compliance with industry financial reporting standards

Let’s Get Started – Contact JL Bookkeeping Design Today!

I’m here to help construction and trades businesses across the country take control of their project finances. Whether you’re based in Onalaska, WI or anywhere in the U.S., don’t let poor financial tracking put your business at risk. Contact me today, and let’s discuss how WIP Reporting and Job Costing can help your business succeed.