Here's another way to calculate revenues earned using the percentage of completion method. Just thought I'd share. ***DISCLAIMER*** This...

So you've calculated work in progress (WIP) on open jobs but something seems off. You think to yourself, "there's no way I could be...

So you've calculated work in progress (WIP) on open jobs but something seems off. You think to yourself, "there's no way I could be...

You have a high overbilling on a project but it doesn't make sense. First, remember this! Actual Gross Profit* % > Estimated Gross Profit...

On to Scenario 4 or the "Going through the punch list” scenario. Keep your subsequent activity nearby for this scenario. In the example...

On to Scenario 3 or the "Really? Are you sure?" scenario. This scenario often results in significant changes to total estimated cost. In...

In this lesson we'll cover the second common scenario with underbillings, the "nothing to see here folks" scenario (2). Let's get to it!...

It's December X3 and you just started a new project. You’ve incurred (and recorded) costs on the project but didn’t get around to billing...

A question that always comes up is "How do I know if I'm calculating work in progress (WIP) correctly?" Unfortunately, we'll never really...