Work in progress is money already earned and not yet asked for. This shows it by client and by age, which usually reveals more cash than expected.
What's Included
- Unbilled work valued by client and by project.
- Ageing of unbilled time because old work is harder to bill.
- Reasons for holding recorded rather than assumed.
- An assistant that lists what could be invoiced today.
How To Use
- Value unbilled work weekly. It is usually larger than people think.
- Age it. Time unbilled for months becomes very hard to justify.
- Record why anything is being held rather than leaving it unexplained.
- Bill on completion of a stage rather than waiting for the whole job.
Turn it into invoices with invoicing prompts, and cost it with job time costing.