Work in Process Report
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The Work in Process Report is accessed through the Reports Window, Accounts Payable folder. The Work in Process report will list Components that have a Vendor invoice recorded against them but have not yet been invoiced to the Client. Essentially, the report displays the detail of the activity that represents the balance in the Work in Process Account. This report shows the cost for each Component, categorized by Component Type. The Time Component has its own Time Work in Process Report.
This report can be printed for a range of Projects. You can subtotal the report by Project or by Account. You can select the Show Revisions option to monitor the detail of why the Component currently resides in Work In Process.
Upon invoicing a Component listed on the report to a Client, they will drop from the report. The cost of the Component will also be transferred from the Work in Process account into the respective Cost of Goods or Expense Account. It is recommended to review this report on a regular basis to ensure that Clients are being invoiced properly for merchandise which would cause the net income for the company to be understated.
To remove an entry from the WIP report, you will generate a zero balance Client Invoice for the Item. See Step-by-Step instructions on how to do so in the link below: