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Construction Work in Progress Calculator Template
For construction companies that perform contact work, the work in progress (WIP) is an essential financial tool and accurate way to know the true profitability of the company.
| Construction, Financial Model |
| Excel, Financial Model, Financial Planning, Project Management, Startup Financial Models |
General overview
For construction companies that perform contact work, the work in progress (WIP) is an essential financial tool and an accurate way to know the true profitability of the company.
The goal of this template is to have financial reporting tool that shows if you are “Over or under billed and cash positive or negative not only for each project but when all of the individual projects are taken together, for the entire company as a whole.
Inputs
- Update the general info on the Front Page
- Enter the data in the “Work in progress” sheet, fill in only the green cells
Outcome
The input will dynamically flow in the following below:
- Estimated cost to complete the project
- % of completion to date
- Profit to date
- Recognized revenue or amount earned
- Remaining cost to complete the project
- Under/Over billed amount
- Entries to record over/under billings
Conclusion and customization
Highly versatile, very sophisticated financial template, and user-friendly.
If you have any inquiries, modifications or to customize the model for your business, please reach me through: [email protected]
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