Construction Year-End Readiness Checklist
A printable November checklist for construction finance teams: holdback reconciliation, T5018 prep, WIP true-ups, counts, and the December cutoffs that make January a review instead of an investigation.
What you'll learn
- Holdback reconciliation steps, receivable and payable, per job
- T5018 and subcontractor record prep before it becomes urgent
- WIP true-up questions to ask every project manager now
- The December cutoff disciplines that protect the year's last billing
- A running list that turns close pain into a January project plan
December doesn't create year-end problems. It reveals them. The work that makes January calm starts in November.
What's inside
Year-end isn't a December event. It's a December deadline for work that either happened all year or didn't. This checklist is the November version of that work: everything that's easy to fix this month and miserable to fix in February.
Work through it section by section with your controller and your project managers. Anything you can't tick quickly is worth writing down twice: once as a task, and once as a finding about your systems.
- 1
Holdback and retainage
Holdback receivable ties to the GL per job, not just in total.
- 2
Vendor and subcontractor records
Business numbers and addresses confirmed for every sub you paid this year (T5018 season rewards this).
- 3
WIP and job costs
Cost-to-complete refreshed with each PM, job by job, honestly.
- 4
Counts and equipment
Yard, truck stock, and small tool counts scheduled before the holidays.
- 5
December cutoff discipline
Field tickets and timesheets entered before the break, not remembered in January.
- 6
The January list
Every workaround, late night, and two-source number encountered during the close is written down.
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