Progress Billing & Contract Accounting - Navigate Complex Contracts with Confidence

What This Service Brings to Your Business

Long-term contracts bring unique challenges. Payments arrive based on milestones rather than simple invoices. Modifications change the terms midstream. Retention clauses hold back portions of payment. Accounting standards require careful documentation of progress. Imagine having all of this managed systematically, with clear records and proper alignment between what you've billed, what you've earned, and what your contracts specify.

This service provides that clarity. You'll have organized schedules showing exactly where each contract stands, what milestones have been reached, what's been billed, and what payments are expected. When modifications occur, they get documented properly. When questions arise about contract status, you'll have clear answers ready.

Beyond just tracking, you'll gain confidence in your contract management. All parties stay informed through clear communication. Your financial statements accurately reflect contract progress. The complexity that often surrounds long-term engagements becomes manageable and transparent.

The Challenge You're Facing

Progress billing isn't straightforward. Unlike simple invoicing for completed work, you need to calculate what portion of a contract has been earned, prepare billings that align with milestone achievements, and track multiple payment schedules simultaneously. Contract modifications add layers of complexity, changing terms that need to be documented and reflected in your accounting.

Perhaps you've experienced situations where it wasn't entirely clear what should be billed at a particular milestone, or where tracking retention became cumbersome across multiple contracts. Maybe modifications to contract terms created uncertainty about how to adjust your billing and accounting. These challenges make it harder to maintain accurate records and keep all parties properly informed.

The accounting standards for long-term contracts require specific approaches that differ from regular invoicing. Revenue recognition needs to match progress. Billings need to align with contractual terms while reflecting actual work completed. Without systematic processes, these requirements can feel overwhelming.

You need a way to manage progress billing that handles the complexity while keeping everything clear and compliant. This matters not just for your own records, but for maintaining good relationships with clients who expect transparent, accurate billing that matches contractual agreements.

How We Address Your Needs

Our Progress Billing & Contract Accounting service is designed to bring order to the complexities of long-term contracts. We set up systematic processes for calculating progress billings, maintain detailed schedules that track contract terms and modifications, and ensure your accounting aligns with both contractual obligations and accounting standards.

For each contract, we create schedules showing milestones, payment terms, retention amounts, and billing status. As work progresses and milestones are reached, we prepare billings that accurately reflect what's been earned. Contract modifications get documented properly and incorporated into ongoing tracking. Everything stays organized and transparent.

Progress Billing Calculations

We prepare billings based on milestone achievements and contract terms, ensuring amounts reflect actual progress and align with what's been agreed.

Contract Modification Tracking

Changes to contract terms get documented systematically and incorporated into billing schedules, maintaining clear records of all modifications.

Retention Management

Detailed schedules track retention amounts across all contracts, showing what's being held, when it will be released, and current status.

Clear Communication

All parties stay informed through organized documentation and transparent reporting that shows contract status and billing details.

Working Together

When we begin working together, we start by understanding your contracts. What milestone structures do you typically use? How are payments scheduled? What modification processes are common? This information helps us set up systems that match how your contracts actually work.

We then create detailed schedules for each active contract, documenting terms, milestones, payment schedules, and retention clauses. As projects progress, we track milestone achievements and prepare progress billings that align with both contractual terms and accounting standards. When modifications occur, we update the schedules and adjust future billings accordingly.

Throughout our work together, you'll receive regular updates showing the status of each contract, what's been billed, what payments are outstanding, and where retention amounts stand. This information helps you manage cash flow, respond to client questions, and maintain organized records.

You'll experience the relief that comes from knowing your contract accounting is handled systematically. The complexity becomes manageable. Communication with clients improves because you have clear, accurate information about billing and contract status. Your accounting reflects reality and meets professional standards.

What to Expect

1

Contract Review

We review your typical contract structures, milestone patterns, and payment terms to understand what systems and schedules will be most helpful.

2

Schedule Creation

Detailed schedules get established for each active contract, documenting milestones, payment terms, retention amounts, and current status.

3

Ongoing Billing Management

As milestones are reached, we prepare progress billings, track payments, manage retention, and maintain organized documentation.

4

Modification Handling

Contract changes get documented properly, schedules are updated, and adjustments are made to ensure continued accuracy and compliance.

The Investment

$2,200

per month

This monthly service includes comprehensive progress billing and contract accounting management.

This investment brings organization and confidence to your contract management. When your progress billings are prepared accurately and your contract modifications are tracked systematically, relationships with clients improve. When retention schedules are clear and accessible, cash flow planning becomes easier. When your accounting aligns with both contractual terms and professional standards, you avoid problems and maintain credibility.

Consider what it means to always have clear answers about contract status, to prepare billings that clients can verify against agreed milestones, to maintain organized records that support your financial statements. Think about the time saved when modification tracking is systematic rather than scattered. Imagine the peace of mind that comes from knowing your contract accounting is handled properly.

What's Included

Progress billing calculations

Contract schedule maintenance

Milestone tracking and documentation

Retention schedule management

Contract modification tracking

Payment tracking and reconciliation

Monthly financial statements

Contract status reporting

Regular communication and updates

Email and phone support

Built on Proven Methods

This service draws on years of experience managing progress billing for businesses with long-term contracts. We've developed systems that handle the complexity while maintaining clarity, ensuring billings align with contractual terms while meeting accounting standards.

The schedules we create have been refined through working with dozens of businesses similar to yours. We know what information needs to be tracked, how to document modifications clearly, and how to present contract status in ways that all parties can understand and verify.

Our approach balances technical accuracy with practical communication. Progress billings need to be defensible and compliant, but they also need to be understandable to clients who want to verify that what's being billed matches what's been agreed. We ensure both requirements are met.

Most businesses who implement systematic progress billing and contract accounting find that client relationships improve within the first few months. Questions about billing decrease because the documentation is clear. Disputes become rare because everything aligns with contractual terms. Cash flow planning improves because retention schedules are organized and accessible. These benefits compound as more contracts flow through the established systems.

Our Commitment to You

We're committed to providing progress billing and contract accounting services that genuinely simplify your work and improve your client relationships. If our systems aren't making contract management clearer or if our billings aren't helping maintain good client communication, we want to know. We'll adjust our approach or work with you to find what would be more effective.

Before committing to the full service, we offer a consultation where we can discuss your specific contracts, explore what would be most helpful in managing them, and determine whether this service makes sense for your situation. This conversation comes with no obligation and helps ensure we're a good fit.

Our success is measured by whether your contract accounting becomes easier to manage and whether your client relationships benefit from clearer, more organized billing. If we're not achieving that, we consider it our responsibility to either refine our approach or help you find a better solution.

Getting Started Is Straightforward

If bringing order to your progress billing and contract accounting sounds valuable, the next step is simple. Reach out through the contact form below or at [email protected], and we'll arrange a time to talk. During that conversation, we'll learn about your contracts, discuss what challenges you're facing, and explore whether this service would be a good fit.

There's no obligation in that initial discussion. It's a chance for both of us to see if working together makes sense. We'll answer your questions, explain our approach in detail, and give you a clear picture of what you can expect from the service.

If you decide to proceed, we'll outline the steps to get started, review your active contracts, and begin creating the schedules and systems you need. Most clients have their contract accounting organized within a few weeks, with progress billings prepared according to established schedules from that point forward.

Schedule Your Consultation

Or email us directly at [email protected]

Ready to Simplify Your Contract Accounting?

Let's discuss how Progress Billing & Contract Accounting can help your business. We'll explore your current contracts, what challenges you're facing, and whether this service would be a good match for your needs.

Get In Touch

Navigate Contract Complexities with Clear Tracking