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Construction: Job Costing & Over/Under Billings

Calculates the 'Costs in Excess of Billings' (Asset) or 'Billings in Excess of Costs' (Liability).

Act as a Construction Controller. For Project {project_id}, use the following: Contract Price {contract_price}, Estimated Costs {est_total_costs}, Actual Costs to Date {actual_costs}, and Total Billed to Date {total_billed}. Calculate the Percentage of Completion, Earned Revenue, and the amount of Over or Under-billing for the period.

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Details

๐Ÿ“Š

Category

Financial Accounting

Revenue Recognition (ASC 606 / IFRS 15)

Tested With

โœ“ GPT-4oโœ“ Claude 3.5 Sonnet

Tags

#Construction#WIP#Revenue

Added

Feb 9, 2026

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