Mention ‘Work in Progress’ in a construction setting, and you’ll get different definitions and explanations about what this means. For our Subcontractors, it is a way to measure the expenses against the budget, determine the percent complete, and therefore, measure revenue earned compared to revenue booked on a job.
Many years ago (more than we thought!), Syscon wrote a custom Over/Under billing report that integrates with Sage 100 Contractor (formerly Master Builder). The goal was to create a report that would help our contractors determine the status on a job each month or quarter, providing required financials, or project management tools, depending on the size of the company.
A well-constructed WIP report provides a concise summary of the progress and projected profitability of each job. We’re excited to see the recent CFMA initiatives to educate their membership and others in the construction space with several ’deep dives’ into the process—great news for all!
We have built many Work In Progress (Over/Under billing) tools over the years. For our Sage 100 Contractor clients, our custom program has received a great deal of praise (see our website), along with eyeopening information. We encourage all of our construction clients to include their accounting, estimators, and project managers in this regular review.
We are updating this product for compatibility with the SQL backend release, version 20, slated for the Spring of 2016. We have a Beta test of the v20 release (since we’re third party developers) and are very excited to continue offering our custom Over/Under billing tool to our contractors. Intrigued? Give us a call for more details.