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Know which jobs are open at year end!

Updated: Jan 6

Your CPA will always want to know which jobs were open at year end. Meaning, which jobs had costs to be incurred in a future period. So have a list ready! A good place to start is your job billings and costs reports from your accounting software through year end.

The list you provide your CPA should include the following information by job:

1) Total Contract Price- The amount of the agreed upon contract with the project owner or general contractor, etc, including approved change orders.

2) Total Contract Cost- The total costs estimated from inception to completion on the project.

If you can, view reports subsequent to year end to ensure your estimates are complete.

Thank you

Feel free to reach out with any questions. Thanks!


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