For construction and service-based businesses using Acumatica, accurate Work-in-Progress (WIP) reporting is essential. It enables project visibility, helps manage profitability, ensures compliance with ASC 606 Revenue Recognition for Contractors, and supports informed decision-making.

However, while Acumatica offers robust project accounting features, many finance teams struggle with customizing WIP reports, tracking cost-to-complete (CTC), and collecting live input from project managers. As a result, reporting often relies on manual Excel workarounds.

That’s where tools like PivotXL come in. By integrating Excel with real-time data from Acumatica, PivotXL adds structure, collaboration, and automation — without changing how your team works.

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➡️ Revenue Recognition in for Contractors ASC 606

What Is a WIP Report in Acumatica?

A WIP report provides a detailed snapshot of ongoing projects. It typically includes:

  • Original and revised contract value
  • Estimated and actual costs
  • Percent complete
  • Revenue earned and invoiced
  • Overbilling or underbilling
  • Remaining cost to complete
  • Forecasted gross margin

This report is vital for CFOs, controllers, and project teams. It shows whether a project is on track financially — and whether revenue should be recognized under ASC 606.

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Why ASC 606 and Cost to Complete Matter

Under ASC 606, revenue must align with performance. In most construction and project-based businesses, this means recognizing revenue based on the percent complete — which relies on accurate cost-to-complete inputs.

Therefore, getting CTC data right is non-negotiable. It influences:

  • Earned revenue
  • Gross margin forecasts
  • Cash flow planning
  • Project health analysis

Without reliable CTC values, your WIP reports can mislead stakeholders and trigger compliance risks.

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➡️ Cost to Complete Construction – Full Guide

Common Challenges with Acumatica’s WIP Reporting

Although Acumatica supports job costing, several common challenges can slow down WIP reporting:

1. Limited Out-of-the-Box Customization

Acumatica’s built-in reports are powerful but often rigid. Creating custom formats for executives or bonding agents typically requires developer involvement.

2. Project Manager Inputs Live Outside the System

Project managers often maintain their own spreadsheets or field reports. Since there’s no direct pipeline from the field to finance, inputting CTC updates becomes a manual task — prone to delays and errors.

3. No Centralized Forecasting Dashboard

While Acumatica handles transactions and budgets well, it lacks visual tools for rolling forecasts or historical trend analysis. This limits proactive project oversight.

How PivotXL Enhances Your Acumatica WIP Reports

PivotXL brings the best of both worlds: the structure of an FP&A platform and the familiarity of Excel. It connects directly to Acumatica and turns your spreadsheets into a live reporting environment.

📊 Custom Excel Templates

Build your WIP reports in Excel — formatted exactly how your team, bonding agent, or executive board prefers.

  • Project managers can input cost-to-complete and percent complete by job or cost code
  • All inputs roll up automatically into a centralized WIP dashboard
  • Key metrics such as overbilling, margin variance, and earned revenue update in real-time

🔄 Live Data Sync from Acumatica

PivotXL pulls financial and job cost data from Acumatica, ensuring that:

  • Reports always reflect the latest data
  • Manual export/import processes disappear
  • Time spent on version control is eliminated

📈 Forecasting and Trend Insights

Create real-time roll-ups and dashboards by client, project type, or division. Track trends like margin erosion, billing lags, and forecast accuracy across projects.

👥 Cross-Team Collaboration

Finance and project teams can work in a shared Excel-based environment. Project managers update CTC directly. Finance sees the updates instantly — with access control and audit history built in.

Key Benefits of Using PivotXL for Acumatica WIP

  • ✅ Accelerated Close: Reduce time spent on manual WIP consolidation
  • ✅ Compliance-Ready: Ensure ASC 606 revenue recognition is based on accurate data
  • ✅ Live Forecasting: Monitor margin shifts, billing gaps, and progress in real time
  • ✅ No IT Bottlenecks: Build and modify reports without developer support
  • ✅ Excel-Powered: Keep the flexibility you love, with none of the chaos

Conclusion

Acumatica offers a strong ERP foundation for project-based businesses. But when it comes to flexible, collaborative, and ASC 606-compliant WIP reporting, most teams still rely on Excel — manually.

PivotXL transforms that manual process into a smart, connected workflow. With live Acumatica data and structured Excel templates, your team can create accurate, audit-ready WIP reports faster and with greater confidence.

You don’t need to leave Acumatica — just make Excel smarter.