Value Proposition: Construction Projects do not face accounting disruptions due to “lack of reports,” but rather due to gaps in documentation: unindexed contracts, unapproved change orders, IPCs that do not match revenue, unrecorded subcontractor costs, and retention without a schedule. This Construction Project Control Template transforms project management into a month-end closing process: from contract and budget data → tracking costs and commitments → calculating WIP/PoC/Cost-to-Complete → issuing Journal Entries (JE Log) and reconciliations → delivering a Closing Pack that can be traced from the invoice number to the GL account.

In 20 Seconds: What Will You Get?

• Contract Register: Contract/Project register + Contract values + Dates + Retention terms + Guarantees.
• Budget & Cost Codes: Linking the budget to traceable cost items (Cost codes) instead of “group” expenses.
• Commitments Tracker: Purchase/Subcontract commitments (PO/Subcontracts) to estimate Cost-to-Complete.
• WIP / PoC Schedule: Calculating percentage of completion + recognized revenue + cost of sales + WIP balance.
• Retention & VO Logs: Retention schedule (Due/Withheld/Received) + Change Order (VO) and claims log.
• Reconciliations + JE Templates: Matching WIP/Retention/Revenue to GL + ready-to-post JE templates.
• Construction Closing Pack: Monthly delivery pack for internal/external review with Index and Sign-off.

CTA related to outputs: Receive WIP Schedule + Cost-to-Complete + Retention/VO Logs + GL Reconciliation + Closing Pack ready for closing.

Suitable For

• Project Accountant / Construction Accounting: Needs WIP/PoC and monthly reconciliations instead of verbal estimates from the site.
• Chief Accountant / Controller: Wants an Adjusted TB supported by WIP schedules and documented entries (JE Log + Evidence).
• Internal Audit / External Audit: Needs Traceability: Contract/Invoice/Cost → Schedules → Entry → GL within the Closing Pack.

Not Suitable For

• Those looking for a “Company Directory” like Directory of Construction Companies in Saudi Arabia or Directory of Construction Companies pdf — the product is not a Directory or a list of company names.
• Those wanting a comprehensive Project Management System (Planning/Primavera/Workflows) — the product is an accounting control tool (Schedules + Tie-outs) and not a site operations platform.

Without the Template / With the Template (Short Comparison)

Before Use: 5 Symptoms That Closing Will Be Delayed in Construction Projects

• Invoices/IPCs that do not match revenue in GL, and there is no schedule showing “where the difference is.”
• Subcontractor costs recorded late or without linking to the project/cost item, distorting project profitability.
• No commitments tracker, so estimating Cost-to-Complete relies on undocumented forecasts.
• Retention is not managed as a schedule (Due/Withheld/Received), resulting in a large unexplained balance.
• Change orders (VO) and claims are not recorded as statuses (Approved/Pending), losing their impact on revenue/margin.

Construction Projects: Implementation Method (3 Steps Without Gaps)

Step 1: Preparation and Gathering Reports and Establishing the Contract Register

• Create Contract Register: Project/Contract number, client, contract value, start/end dates, payment terms, retention, guarantees.
• Establish Budget/BOQ structure and link it to Cost Codes, identifying relevant GL accounts (Revenue/WIP/COGS/Retention/AP).
• Gather sources: Actual costs + Commitments (PO/Subcontracts) + IPCs/Invoices + TB/GL.

Step 2: Running Monthly Control (WIP + Commitments + Reconciliations)

• Update Actual costs by project/Cost code + Update Commitments to estimate Cost-to-Complete.
• Prepare WIP/PoC: percentage of completion, recognized revenue, COGS, WIP/Contract asset/liability balance (based on your methodology).
• Open Exceptions log: unallocated costs, subcontractor invoices without a project, unapproved VO, retention discrepancies.

Step 3: Month-End Outputs (JE + Adjusted TB + Closing Pack)

• Issue JE Templates: Record revenue/cost according to WIP, record/reverse GRNI/Accruals for subcontractors, process retention.
• Reconciliations to GL/TB: (Revenue↔IPC/Billing) + (WIP schedule↔WIP account) + (Retention schedule↔Retention accounts).
• Compile Construction Closing Pack: Schedules + reconciliations + assumptions memos + Sign-off before approving Adjusted TB.

Template Components (Clear Inventory)

1. Contract Register
   • Practical Purpose: Consolidate contract data affecting revenue, collections, and retention.
   • When Used: At project initiation + updates upon VO/extensions/amendments.
   • Resulting Documentation: Versioned Contract Register + Attachments (Contract/Addenda/Guarantees) and archiving links.
2. Budget & Cost Code Mapping
   • Practical Purpose: Link the budget to traceable accounting items (Cost codes) to produce project profitability.
   • When Used: Once at setup + updates upon changes in scope/VO.
   • Resulting Documentation: Budget file + Cost code mapping + Reference source for the budget (BOQ/Estimate).
3. Actual Cost Register
   • Practical Purpose: Aggregate project expenses by Cost code and link them to invoices/documents.
   • When Used: Monthly (Month-End) and cumulatively for the project.
   • Resulting Documentation: Actual cost register + References for invoices/subcontractors/purchase orders.
4. Commitments Tracker
   • Practical Purpose: Show what has been committed but not yet invoiced (PO/Subcontracts) to support Cost-to-Complete.
   • When Used: Monthly before calculating WIP.
   • Resulting Documentation: Commitments schedule + Aging + List of open commitments.
5. IPC / Billing Register
   • Practical Purpose: Link progress of completion to client invoices (IPC) and billing and collections.
   • When Used: Monthly when issuing an IPC or invoice.
   • Resulting Documentation: Billing register + IPC/Invoice numbers + Approval/Collection status.
6. WIP / Percentage of Completion Schedule
   • Practical Purpose: Produce recognized revenue and COGS and WIP balance based on Cost-to-Complete/PoC.
   • When Used: Monthly + Year-End for final delivery.
   • Resulting Documentation: WIP schedule + Assumptions memo + Tie-out to Actual/Commitments.
7. Variation Orders (VO) & Claims Log
   • Practical Purpose: Document change orders and claims, their status, and their expected impact on revenue/margin.
   • When Used: Immediately upon issuance of VO/Claim + monthly review of pending cases.
   • Resulting Documentation: VO log with statuses (Approved/Pending/Rejected) + Approval attachments.
8. Retention Schedule
   • Practical Purpose: Identify due, received, and remaining retention and link it to GL accounts.
   • When Used: Monthly, and at the final delivery/acceptance stage.
   • Resulting Documentation: Retention schedule + Link to invoices + Aging + Collection plan.
9. Subcontractor Accruals / GRNI
   • Practical Purpose: Record costs for unbilled work or invoices pending approval (Accrual/GRNI).
   • When Used: Month-End and especially before Year-End.
   • Resulting Documentation: Accrual schedule + Basis for estimation + Link to site/completion certificates.
10. Reconciliations + JE Templates + JE Log References
    • Practical Purpose: Convert schedules into entries and auditable reconciliations (Revenue/WIP/Retention/Accruals).
    • When Used: Monthly before approving Adjusted TB.
    • Resulting Documentation: Reconciliation schedules + JE templates + Entry number after posting + Reference IDs.
11. Closing Pack Index + Sign-off
    • Practical Purpose: Delivery index specifying what is submitted for internal/external review and who approved the version.
    • When Used: Month-End, Year-End, and project closeout.
    • Resulting Documentation: Pack Index + Prepared/Reviewed/Approved + Version + Archiving links.

What Should Be Included in the Delivery?

• 01-Pack Index: Delivery index (Owners + Version + Sign-off) + Folder links.
• 02-Contract Register: Contract register + addenda + payment/retention terms + guarantees (Bank guarantees/Performance bonds if any).
• 03-Budget & Cost Codes: Budget/BOQ + mapping + documentation of last update.
• 04-Actual Costs: Actual cost register + breakdown by project/Cost code + references for invoices/documents.
• 05-Commitments: Purchase/Subcontract commitments + Aging + List of open commitments.
• 06-IPC/Billing Pack: IPC/Billing register + Approval/Collection status + Link to client.
• 07-WIP/PoC: WIP schedule + Cost-to-Complete + Assumptions memo + tie-outs.
• 08-Retention: Retention schedule + Link to invoices + Aging + Collection plan.
• 09-VO & Claims: Change order/Claims register + Approval status + Expected financial impact (if approved).
• 10-Accruals/GRNI: Subcontractor accruals/unbilled work + Basis for estimation.
• 11-Reconciliations: Reconciliation of WIP/Retention/Revenue to GL/TB + Explanation of discrepancies.
• 12-JE Log: Monthly entries (WIP/Revenue/Accruals/Retention) + Posting numbers + References.

After Implementation (Two Points Only)

• Operational Result for the Team: Each project has a fixed “monthly file”: Update costs/commitments → WIP → reconciliations → entries, instead of late aggregation at closing.
• Control/Audit Result: Clear Traceability: Contract/IPC/Cost/VO → Schedule → JE → GL/TB, with Pack Index and Sign-off reducing repeated document requests.

FAQ — Questions Before Purchase

Is this product suitable for any ERP or Project Costing System?

Yes. It relies on Exports (Actual costs/PO/Subcontracts/Invoices) and produces Schedules, reconciliations, and JE Templates without technical integration.

Does it cover construction accounting with WIP/PoC template?

Yes. It includes WIP/PoC schedule + Cost-to-Complete + Assumptions memos + tie-outs to costs and commitments, then JE Templates for closing.

Does it support Retention and Variation Orders (VO)?

Yes: Retention schedule (Due/Withheld/Received) + VO/Claims log with statuses (Approved/Pending) and links to documents.

Is this a “Directory of Construction Companies in Saudi Arabia” or “Directory of Construction Companies pdf”?

No. These are general search terms. The product is not a company directory and does not provide a list of companies/names; it is an accounting control template for operating the close and producing project documentation.

Is it related to specific companies like Al-Saghir Trading and Contracting Company or Al-Dafaa Trading and Contracting Company or Munasib Trading and Contracting Establishment or Al-Olayan General Contracting Company?

No. The template is general and suitable for any company, and is not linked to a specific entity (even if names like Al-Dafaa Trading and Contracting Company appear in search terms).

What is the minimum data required to get started?

Contract list + Budget/BOQ + Actual costs (at least at the project level) + Billing/IPC + TB/GL for accounts. Having commitments improves the quality of Cost-to-Complete but is not a prerequisite for starting the structure.

Is it suitable for multi-project and branch companies?

Yes. The template is built on Project ID and can add Branch/Region/PM, then produce Schedules for each project and aggregate them at the company level.

Does it produce complete financial statements?

It does not produce complete statements on its own, but it generates critical accounting inputs for construction accounting: WIP/Revenue/COGS/Retention/Accruals + entries and reconciliations that support Adjusted TB before preparing the statements.

Ready to close construction projects with a documentation file instead of WIP and Retention discrepancies?

Outputs: WIP/PoC + Cost-to-Complete + Retention/VO + Reconciliations + JE Templates + Closing Pack Index.