QuickBooks Contractor Reports: 3 Essential Construction QuickBooks Reports
- Cost Construction Accounting
- Oct 22, 2020
- 6 min read
Updated: Nov 26, 2025
Being a successful contractor requires more than excellent craftsmanship on the jobsite. No matter how skilled your crews are at building projects, your construction business will struggle if you can't control your financials.
The difference between profitable and unprofitable jobs often comes down to one thing: tracking the right financial data at the right time.
QuickBooks (both Desktop and Online versions) offers powerful job-related reports specifically designed for construction companies. These reports go beyond standard Profit & Loss and Balance Sheet statements to give you project-level insights that protect your margins.
This article introduces the three most essential QuickBooks contractor reports you should be running regularly. Master these reports, and you'll always know exactly where your projects stand financially.
1. Job Estimate vs. Actual Detail Report
This is the single most important report for construction contractors
What It Shows:
The Job Estimate vs. Actual Detail report compares your original project estimates to actual costs and revenue line by line. For every item in your estimate, you can see:
Estimated cost vs. actual cost incurred
Estimated revenue vs. actual revenue billed
Variance (the difference between estimate and reality)
Why It Matters:
This report answers the critical question: "Are we making or losing money on this job?"
By listing all costs and revenue in detail, you can identify exactly which phases of a project are over or under budget. Maybe your framing labor is running 20% over estimate, or your material costs are coming in under budget. Without this report, you're flying blind until project completion when it's too late to correct course.
How Contractors Use It:
Weekly project reviews: Check actual vs. estimated costs to catch overruns early
WIP (Work-in-Progress) report preparation: Data from this report feeds into your WIP calculations for accurate financial reporting
Estimating improvements: Analyze completed projects to refine future estimates based on actual field performance
Change order justification: Document cost increases to support change order requests with clients
How to Run It:
QuickBooks Desktop: Reports → Jobs, Time & Mileage → Job Estimates vs. Actuals Detail
QuickBooks Online: Reports → Search "Estimates & Actuals" → Job Estimates vs. Actuals Detail
Pro Tip: Run this report weekly for active projects, not just at completion. The earlier you catch budget variances, the more options you have to correct them.
2. Job Profitability Report
If you need a quick snapshot of which jobs are making money (and which are losing money), the Job Profitability report is your answer.
What It Shows:
This report summarizes revenue and costs for each project, calculating gross profit and gross profit percentage. It comes in two versions:
Job Profitability Summary: Shows profit for all customers/jobs within a date range
Job Profitability Detail: Breaks down profit by individual line items within a specific job
Why It Matters:
The Job Profitability report gives you an instant financial health check across all your projects. You can quickly see:
Which jobs are exceeding profit expectations
Which jobs are underperforming (or losing money)
Your overall portfolio profitability by customer or project type
The key column in this report is the "Difference" column (Revenue minus Costs). Positive numbers mean profit. Negative numbers mean losses.
How Contractors Use It:
Monthly financial reviews: Assess which projects are hitting target margins
Client profitability analysis: Identify which clients consistently deliver profitable work (and which don't)
Project type comparison: Compare profitability of residential vs. commercial, new construction vs. renovation, etc.
Pricing strategy: Use historical profitability data to adjust pricing on future similar projects
How to Run It:
QuickBooks Desktop: Reports → Jobs, Time & Mileage → Job Profitability Summary (or Detail)
QuickBooks Online: Reports → Search "Job Profitability" → Job Profitability Summary
Pro Tip: Filter the report by date range to compare profitability across quarters or years. Are your margins improving or declining over time?
3. Job Progress Invoices vs. Estimate Report
If you use progress billing (invoicing clients based on percentage of work completed rather than at project completion), this report is essential.
What It Shows:
The Job Progress Invoices vs. Estimate report tracks:
Total estimate amount
Amount invoiced to date
Percentage of estimate already billed
Remaining unbilled balance
This report displays all estimates whether active or closed giving you a complete billing status for every project.
Why It Matters:
Progress billing is common in construction, especially for larger projects. This report prevents two costly problems:
Under-billing: Failing to invoice for completed work leaves money on the table and creates cash flow problems
Over-billing: Invoicing ahead of actual work completed creates over-billings that distort your financial statements and can cause cash flow problems when the work must be completed
By monitoring this report, you ensure billing stays aligned with actual work progress, maintaining healthy cash flow without creating accounting issues.
How Contractors Use It:
Before creating progress invoices: Verify how much has been billed and how much remains
Cash flow management: Identify projects where you're behind on billing and need to invoice
Client communication: Document billing progress when discussing project status with clients
WIP report accuracy: Ensure revenue recognition aligns with actual work completed
How to Run It:
QuickBooks Desktop: Reports → Jobs, Time & Mileage → Job Progress Invoices vs. Estimates
QuickBooks Online: Reports → Search "Progress Invoicing" → Progress Invoicing Summary by Customer
Pro Tip: Run this report before month-end close to ensure all progress billing is up to date. Late invoicing creates artificial cash flow problems that are completely avoidable.
QuickBooks Desktop vs. QuickBooks Online for Contractors
Both versions of QuickBooks offer these essential contractor reports, but there are some differences:
QuickBooks Desktop:
More robust job costing features
Better for contractors managing multiple large projects simultaneously
Easier customization of reports
One-time purchase (or subscription for newer versions)
QuickBooks Online:
Cloud-based access from anywhere
Easier integration with third-party construction apps
Automatic updates
Monthly subscription pricing
Newer versions include improved project tracking features
Both platforms work for construction companies. Your choice depends on project complexity, team size, and preference for desktop vs. cloud software.
Beyond Reports: What These Numbers Tell You
Running these three reports is only valuable if you actually use the data to make better business decisions. Here's what to look for:
Red Flags to Watch For:
Consistent estimate vs. actual variances over 10%: Your estimating system needs refinement
Multiple jobs with negative profitability: Your pricing strategy needs adjustment
Large unbilled balances on Job Progress report: You have cash flow sitting on the table
Green Flags to Celebrate:
Actual costs consistently at or below estimates: Your project management is strong
Gross profit margins of 25%+ on Job Profitability: You're pricing appropriately and controlling costs
Progress billing aligned with work completion: You're managing cash flow proactively
Make QuickBooks Reports Work for Your Construction Business
These three QuickBooks contractor reports, Job Estimate vs. Actual, Job Profitability, and Job Progress Invoices vs. Estimate give you the financial visibility needed to run a profitable construction company.
But here's the catch: these reports are only as good as the data you put into QuickBooks.
If your job costing isn't set up correctly, if costs aren't allocated to the right projects, or if your estimates aren't properly entered, these reports will give you garbage data that leads to bad decisions. That's where professional construction bookkeeping makes the difference.
At Construction Cost Accounting, we specialize in QuickBooks setup and maintenance specifically for construction companies. We ensure:
Job costing is configured correctly for accurate reporting
Costs are allocated to the right projects and phases
Estimates are properly entered and tracked
Reports are generated and reviewed monthly (not just at tax time)
You get actionable insights, not just numbers on a page
Whether you're struggling with QuickBooks setup, need help interpreting these reports, or want someone to handle your construction bookkeeping entirely, our team can help.
Ready to get more value from your QuickBooks reports? Contact CCA today to schedule a consultation. Let's turn your financial data into a tool for growth, not just tax compliance.
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