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The Role of Work-in-Progress (WIP) in Construction COGS
In the construction industry, tracking Work-in-Progress (WIP) isn't just a good practice—it's a necessity. When you're juggling multiple...
2 days ago5 min read
1


WIP Reports vs. Job Cost Reports: What’s the Difference?
Selecting the appropriate report can have a significant impact on monitoring the financial health of a building project. Two of the most...
Oct 29, 20245 min read
133


The Impact of WIP Report on Construction Balance Sheets
A very important part of construction accounting is keeping track of work-in-progress (WIP) , which has a big impact on the bottom line...
Aug 28, 20245 min read
696


5 Common Mistakes to Avoid When Preparing WIP Reports
In the construction industry, Work in Progress (WIP) reports are critical for tracking project progress and ensuring financial accuracy....
Jul 29, 20244 min read
228

Underbilling Hazards: Why Your Surety is Worried and Why You Should Be Too
In the bustling world of construction, underbilling often gets neglected. However, it's a phenomenon with significant implications for...
Jul 24, 20234 min read
75

WIP Report: A Holistic View of Stakeholder Perspectives
As a construction business owner, understanding your company's financials is crucial to ensuring its success. One of the most important...
May 10, 20234 min read
61

Mastering WIP Reporting With Percentage of Completion Method
Keeping track of income and expenses for long-term construction projects can be overwhelming. Fortunately, the CFMA has recommended a...
Apr 19, 20233 min read
1,049

How Bookkeeping Pros Can Help You Optimize Your WIP Schedules
Construction projects are famously complex, which makes accurate tracking incredibly difficult. One of the best ways contractors manage...
Apr 18, 20235 min read
45

How Does Construction Change Order Relate to Your WIP Report?
Are you a construction business owner looking to increase profitability and ensure accurate financial management? Then it's time to talk...
Apr 17, 20234 min read
238

What WIP Report Tells You About Your Billing Status
Every construction project has its own problems. Many of the big challenges that construction companies face are managing costs,...
Apr 14, 20233 min read
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![[Free Sample WIP Report] Take Control of Your Construction Projects](https://static.wixstatic.com/media/9062d1_46242b97da114d8ba926f77f426c17dc~mv2.png/v1/fill/w_223,h_167,fp_0.50_0.50,q_95,enc_avif,quality_auto/9062d1_46242b97da114d8ba926f77f426c17dc~mv2.webp)
[Free Sample WIP Report] Take Control of Your Construction Projects
Construction companies operate in a unique financial landscape. They have ongoing projects and costs that change, which can make it hard...
Apr 13, 20234 min read
230

5 WIP Schedule Tips for Accurate Contractor Progress
Have you ever wondered how construction project managers keep track of the progress of their projects? Well, one of the key tools they...
Apr 12, 20234 min read
139
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