Another improvement to our accounting software based on feedback from our customers:
We’ve just added an option to enable a “Work In Progress” (WIP) calculation for Projects.
To enable it, go to Settings -> Project Settings and tick the box labelled “Work In Progress”.
The figure will be shown on the page where you view the details of a project. We’ll later be adding this to other areas where projects are listed.
The figure is calculated as follows:
“Percentage Complete” calculated based on how much of the Target Expenditure has been realised.
The WIP value is then calculated as Target Income x Percentage Complete, less Actual Income.