I do not like the idea of advertising on community but as per recommendation from a few of my clients who love this engine and think this can be helpful for others, I decided to write up a short summary of an automated Project WIP Adjustments that we have developed and works alongside Acumatica construction module.
- Automatically draft WIP Over/Under Billing adjustments as per the WIP configuration
- Allow adjusting/overriding the Expected Revenue, Expected Cost and Completed Percent on the fly
- Automatically posting the Over/Under Billing Adjustments by project or summarized to GL
- Automatically updating Project Register alongside the GL Posting if opted to do so
- Automatically track the Cost and Billing changes within the month after WIP is posted and re-adjust the WIP Over/Under Billing when user re-run the WIP Adjustments
- Ability to post the WIP in full and reverse next period automatically OR opt to post WIP Over/Under Billing incrementally
- Ability to calculate WIP Expected Costs at project level based on Budgeted Cost, Projected Cost and Actual Cost
- Multiple option of determining Expected Revenue by Projected Revenue, Expected Markup or Billing to Date.
- Ability to compare the current WIP key metrics with the prior WIP.
- Ability to recall the WIP posting batch as long as GL Batch is not released.
- Ability to navigate to project, project transactions, commitments, and project related AP Invoices
- Lots of informational columns for better/easier WIP review
- It comes with a reporting screen that utilizes the same WIP engine business logics and adds some extra columns for Project Cash surplus/shortage
- Lots of other capabilities that can be presented.
If you think this can be helpful to your Construction business, please directly message me.
