What materials cost tracking template is best for home building projects?

The best template is one you keep up to date. Track four figures for each cost line: the budget, the committed amount (accepted quotes, orders and variations), the amount paid, and the amount still to pay. For materials, also record the supplier, the item, quantity, unit price, order and delivery dates, tax invoice number and whether GST is included. Update it whenever a quote, order or invoice arrives. Forecast to completion is what you have paid, plus committed amounts still to pay, plus your best estimate for anything not yet quoted. Speak to an accountant about GST and your records.

In MyBuildHub: record materials as budget lines, attach each tax invoice to its line, and review the forecast against your budget regularly.

Check yourself: an accountant, and the ATO for GST and record keeping.

General information only. It is not financial, tax, insurance or legal advice and may not apply to your project. Speak to your lender, accountant, insurer or a lawyer, and confirm requirements with your state regulator.