To effectively manage your invoicing and understand your financial position, utilize the Work in Progress (WIP) Report available in Unbilled.
Accessing the WIP Report:
Navigate to your Main Menu.
Click on Billing.
Open Unbilled and select the options menu (...) located to the left of the screen.
Benefits of the WIP Report:
Invoice Preparation: Determine whom to invoice and assess Carry and Write On/Off adjustments.
Financial Visibility: Gain insights into your current financial standing.
What the WIP Report Covers:
Unlike the Unbilled section, the WIP report excludes:
Non-Billable Time.
Work items removed from billing.
Work already invoiced.
The type of work you're doing will also determine what work items will and will not show up in the report as well, please review the rules below to understand how this is determined.
Types of Work Included:
Time & Materials:
Appears in the WIP report until all time is billed or written off.
Drops off upon full invoicing.
Status of work items does not affect their appearance in the report.
Fixed Fee:
Added upon creation and remains until completion and final invoicing.
Includes work regardless of completion or invoicing status.
Displays billed, unbilled, and WIP amounts.
May show negative WIP when billed in advance.
Additional Considerations:
Work items without unbilled time do not appear in the WIP report.
Fixed Fee work may show zero WIP if new or unbilled without recorded time.
Understanding these rules helps ensure accurate invoicing and financial tracking through the WIP report.