Event start time is 10am with lunch at 12pm.  2 CPE

The work-in-progress schedule (WiP report) essentially shows contractors whether active jobs are overbilled or underbilled. That difference boils down to who’s actually funding the project: you or your customer.

During this workshop we will cover these topics:

WiP reporting calculations- what are they?

How does accounting use the information? How does management use the information?

What exactly are over/under billings and how to they impact the financial statements? What is the over/under billing effect on Revenue?

How are your jobs impacting your liquidity?

What does your report tell you about your backlog?

What information on the WiP can help with budgets and cash flow projections?

The process of moving a completed job from the current WiP to the completed WiP schedule.

How to record a known loss on a job.

What information do you reconcile to GL & Job Cost?

Red Flags to pay attention to.

Learn how to utilize the Work-In-Progress Report as a monthly management tool that everyone can benefit from, especially if you are an owner or a manager.