CONSTRUCTION

Enhancements in work in progress (WIP) management

In this release, we've made the following enhancements to work in progress (WIP) management.

Set costs and billings for projects to complete as of a specific WIP period

Setting costs and billings to complete is now a once and done process. Use the new WIP Schedule Projects page to set costs or billings (or both) complete on multiple projects at once by specifying a WIP period. The selected projects are set to complete as of the specified WIP period.

  • If you set a project's costs to complete, the CFO forecast cost at completion matches the Job to date costs amount, effectively making the project 100% cost complete.

    CFO forecast cost to complete and CFO forecast pct complete are recalculated based on the CFO forecast cost at completion.

  • If you set a project's billings complete, the CFO forecast contract value matches the Job to date billings amount, effectively making the project 100% billings complete.

For projects that have all their revenue recognized, or for cost plus projects where the revenue is recognized when the cost is incurred, you should set both costs and billings to complete. If you do this, CFO forecasts are adjusted automatically to keep the project at 100% complete, with no further overbilling or underbilling adjustment.

At any time, you can clear a project's costs complete period or billings complete period so CFO forecasts can be manually changed again:

Learn how to set a project's costs or billings to complete

See warnings for details in the project breakdown—Early Adopter

When viewing a WIP schedule, you can now see if there are any warnings for project cost details. Errors and warnings are shown in the grid:

  • The Errors and Warnings columns show if there are messages related to information in the WIP schedule page.
  • The Warnings in project breakdown column shows if there are warnings related to information in the WIP Schedule Project Breakdown page.

What's the Early Adopter program?

The Early Adopter program allows a select group of customers to test and provide feedback on new features. Your input will help us refine and improve these features before the general release.

To learn more about this Early Adopter program, fill out this form. Your account manager will be in touch.

If you'd like to contact your account manager directly, see Contact your Sage Intacct account manager.

Permissions and other requirements

Subscription

Construction

Projects
Regional availability
  • Australia
  • Canada
  • United Kingdom
  • United States
User type

Business

Construction Manager

Project Manager
Permissions

Projects

  • Projects: List, View, Add, Edit
  • WIP management: List, View, Add, Edit