Keep the approved job separate from proposed work
The contract value, accepted variations, billed amounts and collections need their own status. A requested change may create supplier costs before the customer agrees the price. Showing that difference gives the project manager a useful action list instead of an overstated revenue total.
Labour, materials, subcontractors, rentals and site expenses are assigned consistently. Shared purchases need a supportable allocation. Customer and supplier holdbacks or other contract deductions remain identifiable rather than disappearing into an unexplained payment difference.
Organize the payment evidence
We retain the documents your team provides for proper invoices, delivery, approval and payment. Alberta prompt-payment and lien rules can affect eligible projects, but applicability, notices and legal rights need the appropriate adviser. The bookkeeping record should preserve dates and correspondence that may matter.
Illustrative example: a southeast retail fit-out
A Calgary contractor is midway through a tenant improvement when the customer requests new lighting. A separate change reference ties the supplier order, labour estimate and customer approval together. Management can compare the original budget with the revised approved scope and see the cash needed before the next draw.
Questions about this work
Can you track holdbacks?
Yes, we can maintain receivable and payable schedules from the contract instructions provided. Release entitlement and legal timing require appropriate review.
Will the report include costs not yet invoiced?
It can distinguish committed purchases and estimated costs to finish from ledger expenses. The project manager supplies and approves the operational estimates.
Put this into practice
Sources and current guidance
A practical next step
Bring the records you have.
We can identify missing information, agree on the scope and organize the next bookkeeping step.
Request a bookkeeping review