What WIP Report Tells You About Your Billing Status
Updated: May 18
Every construction project has its own problems. Many of the big challenges that construction companies face are managing costs, timelines, and change orders while staying profitable.
Fortunately, a WIP report or WIP schedule, along with the percentage of completion method, can help you overcome these challenges by improving your cash flow and ensuring accurate billing. In this article, we will delve into the specifics of overbilling and underbilling in your WIP schedule, highlighting sound billing techniques so you can stay on track and avoid any negative impacts on your project's progress.
Download your Over & Under Billing PDF here:
Over & Under Billings-Construction Finance Essentials Worksheet A-2
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WIP Report: What is Over/Underbilling? The Good Side Of Overbilling What Causes Underbilling? Why is Underbilling Never a Good Thing?