Month-End Job Costing Checklist
Month-End Job Costing Checklist
Quick Summary
A month-end job costing checklist helps contractors verify that project costs are complete, accurate, and assigned to the correct jobs before reviewing profitability. Consistent monthly reviews help identify cost overruns, billing issues, and production trends before they become larger problems. This checklist is useful for owners, project managers, office managers, bookkeepers, and operations staff responsible for financial reporting.
When to Use This Checklist
- At the end of each month.
- Before reviewing project profitability.
- Before preparing management reports.
- Prior to owner or project review meetings.
- Before submitting internal financial summaries.
- When reconciling active project costs.
Before You Start
- Collect all payroll, vendor, and project cost records for the month.
- Gather current job cost reports.
- Review active project lists and job numbers.
- Verify all timecards and labor records have been processed.
- Confirm vendor invoices received during the month are available.
- Review outstanding purchase orders and open commitments.
Safety Checks
- Verify safety-related expenses have been assigned to the correct jobs.
- Review costs associated with safety equipment and supplies.
- Confirm incident-related costs are properly documented.
- Review project records for unusual safety-related expenses.
- Verify safety training costs are coded correctly.
- Document any significant cost impacts from safety-related events.
Tools, Equipment, and Materials
- Job cost reports.
- Payroll and labor records.
- Vendor invoices and receipts.
- Purchase order records.
- Equipment usage reports.
- Project billing and revenue reports.
Month-End Job Costing Checklist
- Verify all labor costs have been posted to the correct jobs.
- Review employee time entries for coding accuracy.
- Confirm vendor invoices have been entered and assigned correctly.
- Verify material costs against purchase orders.
- Review subcontractor costs and billing records.
- Post equipment usage and equipment-related expenses.
- Review fuel, rental, and operating costs.
- Identify missing invoices or unrecorded costs.
- Review open purchase orders and remaining commitments.
- Compare actual costs to project budgets.
- Review completed change order revenue and costs.
- Verify project billings are current.
- Calculate current gross profit by project.
- Investigate projects with unexpected cost variances.
- Prepare month-end job cost summary reports.
Documentation Needed
- Job cost reports.
- Payroll and labor records.
- Vendor invoices and receipts.
- Purchase orders and commitments reports.
- Equipment and rental cost records.
- Project billing and revenue reports.
Common Mistakes to Avoid
- Posting costs to the wrong job number.
- Ignoring open purchase orders and committed costs.
- Missing vendor invoices received late in the month.
- Failing to review labor coding accuracy.
- Overlooking equipment and fuel expenses.
- Waiting until project completion to review profitability.
End-of-Month / Final Review
- All known project costs have been recorded.
- Cost coding errors have been corrected.
- Project profitability reports have been reviewed.
- Significant variances have been documented and assigned for follow-up.
- Month-end job costing reports have been distributed to management.
Checklist Completion
Project / Job Name
Jobsite / Location
Completed By
Role / Title
Completed Date
Completed Time
Signature
Reviewed / Approved By, if needed
Notes / Follow-Up Items
Need another checklist?
Find more free construction checklists at SimplySub.com/checklists.