The Work in Progress report allows you to view billings, costs, margins, provisions & prepayments for active jobs in the system. The purpose of the WIP report is to track provisions for upcoming supplier costs as the job progresses. It is also used to determine the WIP figure at month-end for financial adjustments. It is important to note that this report is only suited for jobs that are still active and in progress. This report is mostly used by accountants to get an understanding of what cost commitments the business has.
This section will focus on the:
Work in Progress report
- To view this report, navigate to Reports and search for the Work in Progress report.
- Select the report and apply filters.
Report columns explained:
|4||AE||Account Executive for the Job.|
|5||Status||Status of the Job i.e. the phase the job is in.|
|6||Opened||Date the Job Bag was created.|
|7||Billings: Estimated||Sum of Cost Estimates for the job.|
|8||Billings: Actual||Sum of all Billings (Invoices and Credit Notes)|
|9||Cost: Est. Cost Billed||External cost on Tax Invoice (expected costs).|
|10||Cost: Actual||Sum of captured Supplier Costs (Supplier Invoices and Supplier Credit Notes).|
|11||Margin: Actual||Estimated billings minus Actual Cost = Margin.|
|12||Provision: WIP(pre-paid)||Supplier cost captured before the client has been billed.|
|13||Provision: For Payment||Remaining expected costs for the job.|
|14||Net||Estimated cost billed minus Actual Cost.|
|15||Hours||Actual hours logged.|