WIP Forecasting: The Standard for Your Success as a Contractor
Forecasting with Cabbage and Sage 300: The Standard for Your Success as a Contractor Work in progress (WIP) reports are the yardstick that bankers, bonding agents, and surety underwriters use to measure your financial success or failure as a contractor, as explained by construction CPA Wesley Middleton in his post at Punchlist. Contractors frequently look at…
Tips for Tracking Project Changes in Sage 300
Tips for Project Tracking in Sage 300 CRE Accurately tracking project changes is essential to the health and profitability of your projects, as changes affect project costs and completion timelines. Not consistently receiving updates from field staff, failing to keep paperwork organized, and manually updating changes across siloed systems make your projects prone to costly…
What Are the Best KPIs to Track with a WIP?
Tracking KPI’s with Cabbage and Sage 300 CRE Tracking KPIs (key performance indicators) is necessary for measuring your progress toward meeting business goals and are vital for showing trends that affect your profit, especially if you profit from a job-by-job system. They also offer information that allows you to make better decisions about and during projects. So…
Can You Accurately Manage Cash Flow Without a WIP Schedule? Short Answer: No
Relying on traditional spreadsheets and tracking costs after the fact is a poor business practice known in professional project management circles as “management from the rearview mirror.” Making present and future cash flow decisions based on past project history is like closing the proverbial barn door after the horse has run away. Avoid Managing from…