Short answer: Give every record a cut-off date and a status. Installed work, submitted billing, approved receivables, received cash, approved hours, committed purchases, payroll, expenses, and employer filings must trace to one another without being treated as the same event.
This is a private management worksheet, not accounting or tax advice. Use a CPA, payroll professional, attorney, the IRS, and TWC for case-specific rules or corrections.
Keep construction progress and cash progress on separate lines
SBA identifies accounts receivable, accounts payable, and available cash as records to manage. A foreman-to-office review needs a project layer between the installed-work report and those company records.
| Lane | Evidence through review date | Not the same as | Owner or question |
|---|---|---|---|
| Installed progress | Approved scope item, measured completion evidence, quality or inspection status, and cut-off date | An invoice or cash receipt | Who confirms the work record and any hold? |
| Progress billing | Application or invoice period, submitted amount, submission date, review status, and disputed item | An approved receivable or collected cash | Who owns correction, approval, or supporting documentation? |
| Accounts receivable | Approved billed amount, due status, receipt status, and unresolved deduction | Available cash | Which amount is confirmed and when is the next follow-up? |
| Labor and purchasing | Approved hours, payroll cut-off, purchase order, receipt, committed cost, and payment due status | Cash already paid | Which commitment reaches cash before the expected receipt? |
| Cash need | Opening available cash, dated expected receipts, dated obligations, and owner-confirmed assumptions | Profit or billed revenue | Which timing gap needs office review? |
Completion evidence: one cut-off-date reconciliation in which every amount is marked installed, submitted, approved, receivable, received, committed, due, or unresolved.
Build the record chain from field time to employer reporting
TWC states that accurate and reliable payroll records matter and describes records of working time. The IRS lists employment-tax records that employers should retain and states a minimum retention period tied to the fourth quarter filing. The checklist below routes records; it does not prepare a return or decide tax treatment.
| Record lane | Minimum evidence link | Mismatch to resolve | Reviewer question |
|---|---|---|---|
| Work time | Employee ID used by the employer, work date, start and stop record, task or cost code, approval, correction history | Daily record, workweek, and pay-period totals do not reconcile | Which original record and correction control payroll? |
| Payroll | Pay period, hours, pay basis, gross wages, deductions, net payment, payroll register, and payment evidence | Approved time or expense differs from the payroll register | What correction and audit trail must payroll retain? |
| Expense | Business purpose, date, vendor, receipt, policy category, approval, reimbursement or company-payment status | A receipt, approval, or payment record is missing | Is the cost reimbursable, company-paid, taxable, or outside policy? |
| Employer tax file | Employer identity, employee data required by the employer, wage and tax records, deposit records, filed return copies, adjustment records, and source period | Payroll totals do not trace to the employer’s filing workpapers | Which record, form, period, and retention rule apply? |
The IRS says employers should keep employment-tax records for at least four years after filing the fourth quarter for the year. Confirm the current rule and any longer federal, Texas, contract, insurance, or litigation hold with the IRS, TWC, a CPA, or counsel before applying it to an actual record schedule.
Questions to take to a CPA or agency
- Which payroll register, deposit record, return copy, adjustment, and expense support must be retained for this employer and period?
- How should a late time correction or reimbursement correction flow into payroll and employer reporting?
- Which federal or Texas retention rule is longest for this exact record, and when does its clock begin?
Read the project budget, final-cost forecast, receivables, and cash forecast together
SBA describes core financial statements and ongoing management of receivables, payables, and available cash. A Master moving toward contractor responsibility needs a review that keeps profitability and timing visible without confusing one for the other.
| Dashboard line | Calculation or evidence | Required note | Decision boundary |
|---|---|---|---|
| Current budget | Approved budget by cost code and current approved changes | Revision, approver, and effective date | Do not overwrite the baseline |
| Actual and committed cost | Posted actual cost plus open commitments through the cut-off date | Unposted time, receipts, purchase orders, and disputed items | Do not label commitments as paid cash |
| Cost to complete | Remaining quantity and reviewed production or purchase assumptions | Range, uncertainty, and responsible estimator | Do not hide unknown scope inside margin |
| Forecast final cost | Actual plus commitments plus reviewed remaining cost, with duplication checks | Variance from the current budget and cause | A forecast is not a guarantee |
| Receivables | Submitted, approved, disputed, due, and received amounts on separate dates | Collection owner and next evidence | Billed revenue is not available cash |
| Cash forecast | Dated available cash, expected receipts, payroll, purchasing, taxes, and other obligations | Timing gap and escalation owner | Ask a CPA or financial professional about case-specific decisions |
Completion evidence: a cut-off-date dashboard whose budget, final-cost forecast, receivables, and cash forecast reconcile to source records and keep every uncertainty visible.
Use the public Texas career map to connect this record to the role you are building. Review membership options for guided private practice. This site does not issue a license, approve work, file a return or claim, provide legal or insurance advice, or guarantee a job or business result.
Official sources checked 2026-10-27
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