Termination account reconciliation
Separate work value, payments, remedial costs and completion forecasts when preparing a termination account.
by Jack Butler-Kettle · About 2 min readShare
How to use it
Check the termination basis and valuation provisions. Identify costs as actual, committed or forecast, and prevent duplicate allowances.
Termination account reconciliation
Check the termination basis and valuation provisions. Identify costs as actual, committed or forecast, and prevent duplicate allowances.
Free blank template for your own project. The completed example is shown below. No email address required.
View the completed example
Completed fictional example
Westhaven refurbishment · 14 October 2026 · Version 1.0
Termination account reconciliation
Scroll across if needed to read the whole record. A dash means no value has been entered.
| Account item | Work value (£) | Payments / credits (£) | Proposed recovery cost (£) | Net position (£) | Basis / status |
|---|---|---|---|---|---|
| Work completed to cutoff | £85,000.00 | £70,000.00 | £0.00 | £15,000.00 | Measured M-14; prior payments reconciled |
| Rectification | £0.00 | £0.00 | £2,500.00 | -£2,500.00 | Estimate R-02; liability disputed |
| Extra completion cost | £0.00 | £0.00 | £6,000.00 | -£6,000.00 | Replacement quote Q-20 less unspent original scope |
Example net position is £6,500 before other contractual adjustments and VAT. The proposed recovery costs remain subject to entitlement and evidence checks.
Understanding your results
Example net position is £6,500 before other contractual adjustments and VAT. The proposed recovery costs remain subject to entitlement and evidence checks.
How it works
The workbook provides blank working records. Grey cells calculate from the entered inputs; yellow cells are for your information. The completed example stays on this page.
Read the related guidance for the context and checks behind this template.
If you need help preparing or reviewing the project records, our quantity surveying services explain the tasks available under a separate appointment. Agree the deliverable, responsibilities and required specialist input before work starts.