Construction Work in Progress

General overview

 For construction companies that perform contact work, the work in progress (WIP) is an essential financial tool and accurate way to know the true profitability of the company

The goal of this template is to have financial reporting tool that shows if you are “Over or under billed and cash positive or negative not only for each project but when all of the individual projects are taken together, for the entire company as a whole.

Inputs

•  Update the general info in the Front Page
• Enter the data in the “Work in progress” sheet, fill only the green cells

 Outcome             

 The input will dynamically flow in the following below:

• Estimated cost to complete the project
• % of completion to date
• Profit to date
• Recognized revenue or amount earned
• Remaining cost to complete the project
• Under/Over billed amount
• Entries to record over/under billings

Conclusion and customization

 Highly versatile, very sophisticated financial template and friendly user

If you have any inquiry please contact us