A cost report that's never a week out of date
See committed, actual, accrued, forecast final cost and margin broken down by cost code. Updating the moment invoices, POs, timesheets and accruals land, so decision are made with real time data.
Is your cost report describing last month?
The report is out of date the day it's issued
Rebuilding it by hand takes a week, by which time the position has moved again.
Commitments sit outside the numbers
POs raised and work instructed don't appear until the invoice arrives, so the report understates the job.
Nobody agrees which figure is right
Four versions of the same cost report exist across the commercial team, and none of them reconcile.
Three columns, calculated not typed
Committed, actual and accrued aren't typed in, they're calculated from what's already happened on the job.
- Committed is what is already approved plus outstanding POs.
- Actual is approved timesheets, purchase invoices, accruals and credit notes.
- Accrued is work done and not yet invoiced.
Approve one document and all three move on their own, nobody re-keys a number to keep the report current.
| Code | Committed | Actual | Accrued |
|---|---|---|---|
| GRD02 | £265,000 | £248,600 | £8,500 |
| FRM03 | £198,000 | £121,000 | £12,000 |
| MEP05 | £189,000 | £74,000 | £14,000 |
Forecast final cost and margin against live sell value
Reforecast monthly by cost code. Margin runs against the live sell value including approved variations merged into the bill of quantities, so it reflects the job you are building rather than the one you tendered.
The applied-versus-certified gap, on the same page
What you asked for against what they agreed, per cost code and cumulative. It widens quietly across several valuations, and it is the number most reports never show.
| Period | Applied | Certified | Gap |
|---|---|---|---|
| Valuation 5 | £186,200 | £173,100 | -£13,100 |
| Valuation 6 | £201,400 | £185,600 | -£15,800 |
| Valuation 7 | £214,600 | £198,300 | -£46,300 cumulative |
What a month old cost report is costing you
Catch overspend while you can still act
Costs land in the report as they are approved, not four weeks later.
Report the same numbers to everyone
Directors, QSs and finance work from one position rather than four spreadsheets.
Close the month without rebuilding it
The report is already current, so the monthly cycle becomes a review rather than a build.
What the industry is saying
How contractors are taking control of their costs and contracts with Coreloops.
We had CEs there with our approval attached to it. There was no way for the client to dispute it.
Samuel Maddison
Director, Project Safe
One platform for costs and contracts
Book a discovery call
We'll learn about your current setup and show you how Coreloops could give you accurate project cost reporting.
