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:
Like the Unbilled section, the WIP report excludes:
Non-Billable Time
Work items removed from billing
Unlike the Unbilled section, the WIP report includes:
Fixed Fee work that has been Final billed, but is not yet in Completed status
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.
Displays billed, unbilled, and WIP amounts.
May show negative WIP when billed in advance.
Additional Considerations:
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.