Construction - Work in Progress Excel Template

Description
General overview: For construction companies that perform contact work, the work in progress (WIP) is an essential financial tool and accurate way to know the true profitability of the company.The goal of this template is to have financial reporting tool that shows if you are “Over or under billed and cash positive or negative not only for each project but when all of the individual projects are taken together, for the entire company as a whole. The template will give the user an example how the journals should be entered as an auto-reversing journal which reverses the WIP entry on the first day of the following month.Inputs:Update the general info in the Front PageEnter the data in the "Work in progress" sheet, fill only the green cells. Outcome: The input will dynamically flow in the following below:Estimated cost to complete the project% of completion to dateProfit to dateRecognized revenue or amount earnedRemaining cost to complete the project Under/Over billed amountEntries to record over/under billingsConclusion and customization:Highly versatile, very sophisticated financial template and friendly user If you have any inquiry please contact us here: https://www.eloquens.com/channel/ecorporatefinance