Excel Falls Short When Creating WIP Reports
Excel did a fantastic job of dominating the spreadsheet world. Unfortunately, like many generalized tools, it’s a jack of all trades but master of none – which is why we made Cabbage, the ultimate tool for generating work-in-progress (WIP) reports. Here are some of the ways Excel costs you time and effort. In Excel, it’s…
How is Cost Contingency Calculated?
How is Cost Contingency Calculated? Cabbage for Sage Blog Contingency: the estimated amount added to the project base estimate to cover project risks. Having cost contingencies helps prevent cost overrun issues, which can be disastrous to a project. But how do you estimate project contingency correctly? While it can be tempting to add a flat…
What is the Construction-in-Progress Balance?
Construction-in-Progress with Cabbage and Sage Companies need to keep track of their long-term liabilities, and this includes real-estate. Property is usually recorded as an in-process cost on a balance sheet. Construction companies log ongoing projects as construction-in-progress. This helps them track the costs incurred up until that point, and makes it easier to see if…
The Difference Between ‘Estimate at Completion’ and ‘Estimate to Complete’
‘Estimate at Completion’ and ‘Estimate to Complete’ in financial forecasting Construction projects don’t always run on time, so construction and real estate companies must adjust their estimates as project variables change. When that happens, you need to know the difference between ‘estimate at completion’ and ‘estimate to complete.’ WHAT IS ESTIMATE AT COMPLETION? An estimate…