Every contractor runs some version of an over/under-billing gap, all the time. Most have no way of seeing it — until a slow quarter or a bonding renewal forces a much closer look.

A work-in-progress schedule isn’t paperwork for your bonding agent. It’s the document that shows whether your income statement is healthy, or just looks healthy.

The pipeline is full, the crews are on-site, and the P&L says it’s the best month ever — but the bank account says otherwise. Here’s the cash-flow trap unique to construction, and how a WIP schedule exposes it.