Work-in-Progress Percent Complete and Over/Under Billing

Cost-to-cost POC: percent complete = cost to date / estimated total cost, earned revenue = percent x contract, over/under = earned - billed. $500K contract, $300K cost, $400K est, $350K billed -> 75%, $375K earned, +$25K underbilled (asset); billing $400K flips it to -$25K overbilled (liability). The CPA WIP schedule governs.

pct = min(cost_to_date / est_total_cost, 1); earned = pct x contract; over_under = earned - billed.

The cost-to-cost percent-of-completion revenue recognition and the over/under-billing schedule from construction accounting (ASC 606 / AICPA construction guide), by name.

Cost-to-cost percent-of-completion and the WIP over/under-billing schedule are standard published construction-accounting methods.

Estimate. AHJ and licensed professional govern.

Field names used by the API: contract_usd, cost_to_date_usd, est_total_cost_usd, billed_to_date_usd, pct_complete, earned_revenue, over_under

• Percent complete cost to date / estimated total cost, capped at 100%cost-to-cost POC
• Over/under billing earned revenue - billed to date (+ underbilled asset, - overbilled liability)construction accounting
• Estimate-driven accuracy depends on the estimated total cost; the CPA WIP schedule governsscope of this tile