Job costing and WIP that actually tie out.

Construction
finboard.app / construction
Live
WIP schedule · Q1
Reconciled to GL
Job
% complete
Billed
Earned
Over/Under
Riverside Plaza
72%
$3.10M
$3.02M
+80k
Metro Transit Hub
45%
$2.90M
$3.06M
−160k
Oakwood Medical
88%
$1.90M
$1.85M
+50k
Harbor Logistics
30%
$0.95M
$1.02M
−70k
Net under-billed $100k · WIP ties to the GL
When one job becomes ten

Finance problems that show up when jobs multiply

Running many jobs across many entities turns over/under-billing, POC revenue and retainage into a monthly fire drill.

Overbilling masks a cash cliff
Job A
3.2$M
2.7$M
Job B
1.8$M
2.3$M
Job C
4.6$M
4.4$M
Job D
2.1$M
2.6$M
BilledEarned
Net over/under +$0.1M
POC revenue never ties out
Estimated revenue$12.0M
WIP true-up adjustment($0.1M)
Adjusted group revenue$11.9M
Job cost blows past budget
62%
88%
45%
103%
71%
A
B
C
D
E
Retainage locks up working capital
Job C · 10%$460K
Job A · 8%$256K
Job D · 7%$147K
Job B · 5%$90K
$1.06M retainage receivable
Change orders stall in limbo
Requested$1.4MPending$820KSubmitted$540KApproved$310K
Inter-company eats the month
GC Holdings
$18.4M
Concrete Div.
$9.2M
Mechanical LLC
$7.6M
Equipment Co.
$3.1M
Eliminations -$4.9M -> $33.4M consolidated
Built for the standards

Reporting standards construction runs on

FinBoard speaks ASC 606 over-time revenue, WIP schedules, AIA billing and surety-ready working capital natively.

Group P&L · contracts
4 entities · to GL
Contract P&L
Amount
% rev
Contract revenue
$33.4M
100%
Direct job costs
$28.1M
84.1%
Gross profit on contracts
$5.3M
15.9%
G&A overhead
$3.1M
9.3%
Net over-billings
$1.4M
4.2%
Backlog (signed)
$41.2M
-
Interest & other
$0.5M
1.5%
Net income
$1.7M
5.1%
Gross margin and net over/under-billings are the two rows a contractor manages to.
Jobs · this period
Margin focus
Job
Contract
Margin
Riverside Medical
$8.4M
17%
Metro Transit Deck
$5.2M
9%
Eastgate Warehouse
$12.6M
14%
Harbor Point
$6.1M
-0.5M
Lakeshore Retail
$2.2M
21%
Group over/under-billing+$0.1M · target ±2% of earned
01ASC 606 · over-time revenue

Cost-to-cost recognition means one estimate change ripples across every entity's revenue.

02WIP schedule

Reconciles cost, billings and earned revenue per job to surface over/under-billings and drive bonding capacity.

03AIA G702 / G703 billing

Standardized pay applications bill each schedule-of-values line by % complete, holding 5-10% retainage.

04Surety & working capital

Sureties cap bonding at ~10-15x adjusted working capital, so the consolidated balance sheet limits new work.

Bonding and lender covenants read straight off the consolidated WIP and balance sheet. FinBoard keeps them audit-ready.

Connects to your stack

The tools you already run.

Two-way sync with Procore, your Sage or Viewpoint GL, and QuickBooks. We sit on top of the systems you already run, no rip-and-replace.

01Live connectors
pProcore
s3Sage 300 CRE
fFoundation
vpViewpoint Vista
qbQuickBooks
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