Work-in-Progress Schedule – A Must Have for a Construction Company
Work-in-Progress Schedules are a must-have for any Construction Company. In today’s surety environment, bonding companies want to make sure that every aspect of their clients’ finances are in robust condition. Often, these companies rely on construction companies’ work-in-progress schedule to determine the project-by-project profitability of the company’s activities. Why Can’t Underwriters Simply Rate Completed Contracts?…
Why Construction Companies Should Use a WIP Schedule, ASC 606 & more
Why Construction Companies Should Use a WIP Schedule, ASC 606 & more Being in the construction industry means working with many different individuals and organizations. With ASC 606 revenue recognition being the new standard, Cabbage can help your company better prepare with accurate work in progress & contracts in progress data, In addition to clients…
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…