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 with the insight needed to determine if active jobs are underbilled or overbilled, allowing you to stay on top of every project and maximize profitability.
In this session, we will discuss:
- Five common mistakes that compromise cash flow and job profitability
- What work-in-progress is and the essential values needed to produce an accurate report
- How to get started right away to make smarter day-to-day decisions
- Tips to better manage cash flow, produce accurate financial statements and grow bottom-line profits