WIP Calculator for Percentage of Completion Calculations

WIP Calculator for Percentage of Completion Calculations

eBooks
A WIP Calculator is a must for Percentage of Completion calculations.  Many times, business owners will create a simple Under/Over Billings report with Percent Complete calculations - and that's fine for some businesses. However, when the percentage-of-completion is the method of accounting that is required, the accounting principle of full disclosure requires the presentation of a work-in-process schedule in a company's financial statements - and you also need to provide this information to your bonding company. This schedule should provide the details of each contracts or projects stage of completion and profitability to date as well as in the current period of reporting.  Its format varies, but at a minimum should include at least the following seven components. Seven Components of a detailed WIP/Percentage of Completion Report Contract Totals Totals…
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