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An accurate and timely Work-in-Progress (WIP) report is one of the most essential tools a contractor can use to optimize cash flow. WIP reporting provides construction companies and their CPAs with the insight needed to determine if active jobs are underbilled or overbilled allowing them to stay on top of every project and maximize profitability.
Learning Objectives:
Describe the basics of WIP Reporting and how contractors can implement today
Review the WIP starter guide for contractors and CPA's construction Clients
Describe the migration from QuickBooks towards sophisticated accounting methodologies
Explain how WIP reporting can help you properly manage cash flow, produce accurate financial statements (e.g. P&L), and drive job success Identify and address common mistakes that compromise cash flow and job profitability
​Speaker - Virtual(s):
John
Meibers,
Vice President and General Manager,
Deltek + ComputerEase