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Wip

WIP Calculator for Percentage of Completion Calculations

You can easily create a detailed WIP/Percentage of Completion Schedule from QuickBooks IF:
  • You create an Estimate for EVERY job/project AND there is only one Estimate per job
  • You’ve modified the QuickBooks Estimate Template to include Cost and Markup columns and you utilize those columns when building your Estimate
  • All of your “Items” have been set-up to capture BOTH revenue and costs (double-sided items)
  • You enter ALL job related employee time and vendor costs using double-sided items
  • You create Job Types for Over/Under and Completed (with sub-types for years) and assign them correctly to your jobs
If all of these things currently exist in your QuickBooks company data file, you can easily create a detailed WIP/Percentage-of-Completion schedule by creating an Actual vs. Estimate Summary Report --> exporting it to QuickBooks and then plugging that data into our WIP Calculator - all WITHOUT spending hours performing manual calculations!
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About Your Host:
Nancy Smyth, Certified QuickBooks ProAdvisor

Nancy Smyth, Sunburst Software Solutions, Inc.
QuickBooks Construction & Payroll Expert


I've been using and supporting QuickBooks products since the early 1990's. I've worked with thousands of contractors, assisting them with QuickBooks setup, Certified Payroll Reporting requirements, AIA Billing and Weighted-Average Overtime.


QuickBooks is a powerful product, but learning how to use it in your construction business can be difficult. I hope you find resources available here to be helpful.

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