Job Complete Contract

Document Sample
Job Complete Contract Powered By Docstoc
					           A             B            C           D           E           F          G             H              I        J      K            L             M             N            O
1 Contractor:
                                                Total                                      Original                                                                     Cost &      Billings In
                                              Amount       Total Job    Revised   Total   Estimated                                          Gross                    Earnings in   Excess of
                      Adjusted   Original Est Billed to      Costs     Estimated Revised Gross Profit   Revised      Estimated              Income         Gross       Excess of     Cost &
      Description &   Contract     Costs at   Date Incl.   Incurred     Cost to Estimated at Time of     Gross      Completion Percent     Earned to     Estimated      Billings    Earnings
 2     Contract #      Price     Time of Bid Retainage      To Date    Complete Job Costs     Bid     Profit/(Loss)    Date    Complete       Date       Earnings        Asset        (Liab)
 3                                                                               = Col E + F   = Col B - C   = Col B - G       = Col E/G   = Col B * K   =Col L - E    =Col L - D   =Col D - L
 4
 5
 6
 7
 8
 9
10
11
12
13
14
15
16
17
18
19
20 Totals                $0          $0           $0          $0          $0         $0            $0            $0                            $0           $0            $0            $0
Contract Price - Contract Price to include all revisions, change orders increases and deducts.
to be revised monthly

Original Estimate Cost - Estimate of costs for the job at the time of the bid or when the contract
was issued

Total Amount Billed - Total progress billings to date including retainage, whether collected or not

Total Job Costs to Date - Total job costs incurred to date whether billed or not.

Revised Estimate Cost to Complete - Estimate of job costs required to complete the job, revised monthly

Revised Total Costs - Total Job Costs to Date plus Estimate of Costs to Complete

Original Estimate Gross Profit - Contract Price less Original Estimate of Costs for the Job

Revised Gross Profit/Loss - Contract Price less Revised Total Costs

Gross Income Earned (a.k.a. Revenue Earned)- Contract Price X Percentage of Job Complete.

Gross Profit Earned (a.k.a. Gross Estimated Earnings to Date) - Gross Income Earned less
Total Job Costs to Date.

Costs & Estimated Earnings in Excess of Billing - Gross Income Earned To Date less Total Amount
Billed to Date. A positive number means job is underbilled, result is an asset on the balance sheet

Billings in Excess of Cost & Estimated Earnings - Total Amount Billed to Date less Gross Income Earned
To Date. A negative number results in an overbilling situation, result is a liability.

Backlog - Costs associated with Completing the Job; How much work is left to complete on the job
he contract


 ected or not



 job, revised monthly




b Complete.




s Total Amount
balance sheet

Gross Income Earned


lete on the job

				
DOCUMENT INFO
Shared By:
Categories:
Stats:
views:6
posted:7/1/2011
language:English
pages:3
Description: Job Complete Contract document sample