# Job Shop WIP Report Template

> Source: https://netray.co/tools/job-shop-wip-report-template
> Publisher: Netray (netray.co), AI and integration engineering for ERP and manufacturing systems.
> Section: Free Tools

## Short answer

A month-end work in process report layout for open jobs: costs to date, percent complete, billings and over or under billing, with sign-off lines for the controller.

## Category

cost-finance

## Industry

Job Shop Machining

## Audience

- Controller
- Shop owner
- Accountant

## Tool

**Kind:** template

**Output:** document

**Fields:**

#### Company name

**Key:** company

**Type:** text

**Default:** Northfield Precision Machining

#### Period end date

**Key:** period

**Type:** date

**Default:** 2026-10-31

#### Prepared by

**Key:** prepared

**Type:** text

**Default:** Plant controller

#### WIP valuation method

**Key:** method

**Type:** select

**Options:**

- Actual cost to date
- Percent complete (cost to cost)
- Percent complete (hours)

**Default:** Actual cost to date

#### General ledger WIP balance

**Key:** gl_wip

**Type:** text

**Default:** 212,450.00

#### WIP report total

**Key:** report_total

**Type:** text

**Default:** 209,980.00

#### Period notes

**Key:** notes

**Type:** textarea

**Default:** Two jobs held for customer drawing revision. One job shipped on the last day and invoiced in the next period. Outside processing for job 24-1204 is at the vendor and costed on receipt.

**Blocks:**

#### Work in Process Report

**Body:** {{company}}
Period ending: {{period}}
Valuation method: {{method}}
Prepared by: {{prepared}}

#### Open Jobs

**Table:**

**Columns:**

- Job
- Customer
- Contract value
- Labor to date
- Material to date
- Outside and other
- Total cost to date
- Est. total cost
- % complete
- Billed to date
- Over / (under) billed

**Rows:**

**0:** 24-1204

**0:** 24-1211

**0:** 24-1223

**0:** 24-1231

#### Reconciliation

**Body:** General ledger WIP balance: {{gl_wip}}
WIP report total: {{report_total}}
Difference to explain: ____________

Explain any difference in the notes below. A difference usually comes from unposted receipts, labor not yet released to the ledger, or jobs shipped but not yet closed.

#### Notes

**Body:** {{notes}}

#### Review

**Signatures:**

- Prepared by
- Controller
- Shop owner or general manager

**Notes:** Percent complete is cost to date divided by estimated total cost. Over billing is billed minus earned revenue, where earned revenue is percent complete times contract value. This is a reporting layout, not accounting advice; follow your accountant's guidance on WIP and revenue recognition.

## Content

**Intro:** A WIP report lists every open job with what has been spent on it and what has been billed. This template gives you a clean month-end layout and a reconciliation block against the general ledger, ready to export.

**Sections:**

#### How to use the WIP template

**Body:** Run your ERP's open job cost report at period end and copy labor, material and outside costs into the job table. Add the estimated total cost and billed to date, then calculate percent complete and over or under billing in the exported Excel file. Fill in the general ledger WIP balance and the report total, and note any difference. Sign off with the controller. Shops on JobBOSS, E2, Global Shop Solutions or similar systems get the cost columns from their own WIP or job cost screens.

#### The calculations behind it

**Body:** For longer jobs, percent complete is cost to date divided by estimated total cost. Earned revenue is percent complete times contract value. Over billing is billings minus earned revenue; a negative figure is under billing. Many short-cycle shops simply carry open jobs at actual cost to date, which is what the first valuation method on this template means. Which method applies is an accounting policy decision, so confirm it with your accountant.

**Bullets:**

- Actual cost to date: simple, common for short jobs
- Cost to cost: percent complete from cost ratios
- Hours: percent complete from labor hours
- Always keep estimated cost current for long jobs

#### Reconciling to the ledger

**Body:** The WIP report total should tie to the general ledger WIP account. Differences usually come from material received but not yet vouchered, labor posted after the cutoff, jobs shipped but still open, or inventory issues recorded to the wrong job. Resolve the difference every month rather than carrying it forward, because old unexplained variances become audit problems.

#### Common mistakes

**Body:** Stale estimates, jobs left open after shipment, negative WIP from over-issued material and unposted outside processing are the usual culprits. Review jobs older than your normal lead time first. They are often finished work that was never closed.

**Cta:** If month end WIP reconciliation takes days, we can help build read-only queries or an assistant over your ERP job cost data so the report is ready on demand.

**Faq:**

#### What is a WIP report in a job shop?

**Answer:** It is a listing of open jobs with costs incurred to date and, for longer jobs, billings and percent complete. It supports the work in process balance on the balance sheet and helps find stale or overrunning jobs.

#### How often should I run it?

**Answer:** Monthly at close at a minimum. Many controllers also run a weekly aged WIP list to catch jobs that shipped but were never closed, since those inflate inventory and distort margins.

#### Why does my WIP report not match the general ledger?

**Answer:** Common causes are timing differences on receipts and labor, jobs closed after the report was run, manual journal entries to WIP, and reports run with different cutoff dates. Run both as of the same date and trace the largest jobs first.

#### Do I need percent complete for every job?

**Answer:** Not for short jobs valued at actual cost. It matters for long-cycle or progress-billed contracts. Ask your accountant which method your financial statements and lenders expect.

## Search terms

job shop wip report template, work in process report excel, wip schedule manufacturing, month end wip report job shop, wip report format, percent complete wip schedule, over under billing schedule, wip reconciliation template

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