WIP (Work in progress) reporting solution for QBO

Other than manually adding costs to a WIP current asset account for each contract and tracking job profitability by customer:job here are a couple of ideas. One is Projects, built in but only available in QBO Plus and Advanced (you did not say what version you use) Introducing QuickBooks Projects: An Easy Way to Track Your Projects - QuickBooks (intuit.com) another is one of many apps on the quickbooks app store Connect Tradify with QuickBooks Online - Intuit

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We are looking for the same solution and have looked at Knowify, Red Team and Builder Prime.  Has anybody tried these knows which is better for job costing and WIP? 

We use (and love) RedTeam. However, we prefer the QBO tracking of WIP opposed to the RedTeam's WIP Statement. The way we enter it in QBO is that each time we enter an bill (expense of the project) we code it to the "Customer" aka the project in the column on the far right. Then, when we run our Profit and Loss statement at year end, we customize the P&L to View By: Customer. That way, it shows all of the income and expenses for that customer (aka project). For example, an invoice from our engineer for CCDD samples would look like this:
Category: Direct Material, Description: CCDD samples, amount: $1,535, Customer: (select the customer or client assigned to that job), Class: (select cost code associated to that, for me it is 0140010 - CCDD Testing). 

Hi Greg,

Rishika here from Better Reports!

Our app Better Reports can show profit and loss by customer and project drilling it down so that each of their invoices show up along with any expenses.

For your specific ask on reducing the invoices from an estimated contract value, this can be done too, depending on how this estimated contract value is being stored in QB. We can fetch it from many available fields.

Better Reports can then also create a summary of this showing all the contracts along with their current balance.

What do you think? Is this what you had in mind? 

I see you mentioned you use RedTeam. We use RedTeam also.  All of the Vendor Bills that export to QuickBooks Online export with the wrong due date year (RedTeam calls them Invoices) The due date is always coming over from RedTeam as 1 year in the future. Are you having the same issue?