ProjectManagement for Engineering Companies > Financials > Work In Progress

 

 

Rendered services often cannot be charged to the customer at the end of the month because it has been contractually agreed that work will be invoiced upon phase or project completion. Project Management enables users to monthly evaluate the inventory of work in progress based on the incurred costs and to post inventory changes accordingly.

Work In Progress
Assessment MethodsPartner Product Available
Different assessment methods for calculating work in progress are available. The assessment is effected by means of the employees' worked hours that have not been invoiced. The employee's hourly rate or one rate for all employees can be used. This setting can be made separately for regular employees and freelancers.
 
Accounting Matrix AssessmentPartner Product Available
Assists users in defining the G/L accounts WIP Inventory and WIP Inventory Changes.
 
Assessment WizardPartner Product Available
This wizard calculates the WIP inventory, shows respective inventory changes and posts automatically the corresponding journal entries.
 
Assessment ListsPartner Product Available
This list shows the balances or individual records of the WIP operation for selected periods per project.
 
SAP Product Available Partner Product Available SAP Product Available with Future Releases Partner Product Available with Future Releases Future Focus