WIP (Work in Progress) Report
The WIP Report is a comprehensive financial analysis tool that tracks all active production projects, showing contract values, costs, profitability, and billing status.
Accessing the Report
Reports > Production > WIP Report
Required Permission
View Project Costs permission is required to access this report.
Report Overview
The WIP Report provides a complete financial picture of all projects currently in production, including:
- Original contract and change orders
- Estimated vs. actual costs
- Profitability projections
- Billing status (over/under billed)
- Working capital analysis
Report Columns
Contract Section
| Column | Description |
|---|---|
| Project | Project name (linked to detail) |
| Class | Division/department |
| Original Contract Price | Initial contract value |
| Change Orders | Sum of approved COs |
| Current Contract Price | Original + Change Orders |
Cost Budget Section
| Column | Description |
|---|---|
| Original Job Cost Budget | Initial estimated cost |
| Est Cost of Change Orders | Costs for approved COs |
| Current Job Cost Budget | Updated total budget |
| Actual Cost To Date | Costs incurred so far |
| Remain Job Cost Budget | Budget remaining |
Projection Section
| Column | Description |
|---|---|
| Projection of Budget Difference | Manual adjustment for expected variance |
| Estimated Cost to Complete | Remaining + projection adjustment |
| Best Estimate of Job Costs | Total projected final cost |
Profitability Section
| Column | Description |
|---|---|
| Original Estimated Gr Profit | Original margin |
| Estimated Chng Ordr Gr Profit | Change order margin |
| Estimated Final Gr Profit | Projected final margin |
| Gross Profit % (Orig Est) | Original margin % |
| Gross Profit % (Final) | Final projected margin % |
| % Cost (Slip) Imprv | Budget performance indicator |
Completion Section
| Column | Description |
|---|---|
| Percent Compl | Completion based on cost |
| Earned Gross Profit | Profit earned to date |
| Cost & Earned Gr Profit | Combined cost + earned profit |
Billing Section
| Column | Description |
|---|---|
| Total Invoiced To Date | Amount billed |
| Unearned Revenue (Overbill'g) | Billed ahead of work |
| Unbilled Revenues (Underbill'g) | Work ahead of billing |
| Remaining Contract Value | Left to bill |
| Remaining Costs | Left to incur |
| Working Capital in Backlog | Remaining value - remaining costs |
Editing Budget Projections
The Projection of Budget Difference column is editable inline:
- Click on the value in the column
- Enter the new projection amount:
- Positive: Expected cost overrun
- Negative: Expected cost savings
- Zero: On budget
- Press Enter or click away to save
- All dependent columns recalculate automatically
This allows project managers to adjust projections based on field knowledge that isn't yet reflected in actual costs.
Key Calculations
Percent Complete (Cost Method)
% Complete = Actual Cost to Date ÷ Best Estimate of Job Costs
Earned Revenue
Earned Revenue = Current Contract × % Complete
Over/Under Billing
Overbilling = Invoiced - Earned Revenue (if positive)
Underbilling = Earned Revenue - Invoiced (if positive)
Report Features
- Sorting: Click any column header to sort
- Sticky Headers: Headers stay visible when scrolling vertically
- Sticky First Column: Project name stays visible when scrolling horizontally
- Totals Row: Sum of all values at bottom
- Color Coding: Negative profits shown in red
Export Options
Click Export CSV to download:
- All columns of financial data
- Calculated values for each project
- Totals row
Understanding Over/Under Billing
Overbilling (Unearned Revenue)
Customer has paid ahead of work performed:
- Shows as liability on balance sheet
- Common with milestone billing or deposits
- Positive for cash flow, requires work catch-up
Underbilling (Unbilled Revenue)
Work performed exceeds billing:
- Shows as asset on balance sheet
- Revenue earned but not invoiced
- Should trigger billing activity
Common Use Cases
- Monthly financial review: Assess project profitability
- Cash flow analysis: Identify billing opportunities
- Project health check: Find projects needing attention
- Executive reporting: Overall production status
Tips
- Review weekly to catch cost issues early
- Use projection column to flag known issues
- Address significant underbilling promptly
- Compare estimates to actuals for estimating improvement
Related Reports
- Cost Controls - Detailed budget tracking
- Daily Log Report - Activity details
- Built Revenue - Revenue recognition