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Real-Time Work-in-Progress Figures — Construction’s Secret Weapon

ProcurementExpress.com

Work in progress figures might not sound like something you need to think much about. Yes, WIPs are considered current assets – meaning, accountants consider inventory assets to be current, as they are expected to turn into cash within the year. WIP is one element of an inventory account. That’s accounting’s job, right?

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Real-Time Work-in-Progress Figures — Construction’s Secret Weapon

ProcurementExpress.com

Work in progress figures might not sound like something you need to think much about. Yes, WIPs are considered current assets – meaning, accountants consider inventory assets to be current, as they are expected to turn into cash within the year. WIP is one element of an inventory account. That’s accounting’s job, right?

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The 8 wastes of lean construction

Fieldwire

2) Inventory In construction, inventory waste occurs when overproduction results in excess material. This includes material being stored on-site or at the fabrication yard, work in progress, and unused tools or parts. Optimize your inventory to reduce this type of waste.

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Top 10 ERP Solutions for Construction Firms

Construction Marketing

According to BSEC’s glossary of software terms , Enterprise Resource Planning Software is a product that “allows a company to manage various aspects of a business — such as accounting, inventory and human relations — in one place. Reflex ERP.

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Electrical Contractors Have Unique Bookkeeping Needs

Contractor Bookkeeping

Inventory Tracking - Can be a nightmare and we have a system for it. Work In Progress (WIP) Reporting. We Know What To Do - For bookkeeping and reports for you no matter how you charge: Time and Material, Flat-Rate, Cost Plus, Not-To-Exceed, Underground, Rough-In, Trim, Milestones and several other methods. Job Deposit Tracking.

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Plumbing Contractors Have Unique Bookkeeping Needs

Contractor Bookkeeping

Inventory Tracking - Can be a nightmare and we have a system for it. Work In Progress (WIP) Reporting. We Know How To - Do the bookkeeping and reports for you no matter how you pay your plumbers: Hourly, Commission, Percentage, Salary, Blended Salary and Commission, Prevailing Wage and more. Job Deposit Tracking.

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Commercial Tenant Improvement Contractors Have Unique Bookkeeping Needs

Contractor Bookkeeping

Commercial Tenant Improvement Contractors - Who also do some remodel work, service work as a method of marketing, buy houses for rental inventory and buy houses to fix up and sell, house flippers, create special problems for regular bookkeepers. Work In Progress (WIP) Reporting. We know what to do!