Health Check

Contractor Financial Health Check

10 quick questions about your books, your jobs and your cash. Answer each one and we'll email you a copy.

Answer Yes, Not sure or No to each question. Every No or Not sure is a place where money or time is likely slipping, and it's where we'd look first.

1. Are your books closed and your bank and credit card accounts reconciled every month?

Yes Not sure No

2. Do you get a WIP schedule every month for every open job?

Yes Not sure No

3. Does your WIP tie to your general ledger, with over and under billings booked on the balance sheet?

Yes Not sure No

4. Can you see cost to date against the estimate on each job, by cost code, while the job is still running?

Yes Not sure No

5. Are change orders priced, signed and billed as the work is done?

Yes Not sure No

6. Do you track the retainage you're owed and the retainage you owe, and know when each is due?

Yes Not sure No

7. Do you have a cash flow forecast for the next three months that you update every month?

Yes Not sure No

8. Could you send your bank or bonding agent current financial statements and a WIP within a week of being asked?

Yes Not sure No

9. Do you know which types of jobs and which customers make you the most money?

Yes Not sure No

10. Does someone other than the person who pays the bills review payments and bank activity every month?

Yes Not sure No

Name

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Type of company

Download the WIP schedule template (Excel) with formulas for over and under billings, and see how it works in our WIP schedule guide.

Book a free consultation. We’ll look at your numbers and tell you what we’d fix first, with no obligation.