WIP List

Purpose

The WIP List shows a comprehensive list of all Time, Fee and Expense values which are available to be invoiced. Before the invoicing run can be performed it is expected that the WIP values are reviewed prior to producing the invoices and issuing them to the client. In an ideal world the WIP figures will not need to be altered but in reality this is seldom the case.

Within the WIP List, users may, providing they have the necessary access rights, adjust the potential charges by writing up/down or deferring charges until they reach the final value they require.

Additional Information

Click here to see what's included in WIP

All WIP figures are based on the Effecive Date

When figures appear in WIP is down to to the project (entered here) / task (entered here) charge timing settings.

NOTE: If the project / task is marked as speculative the values will be omitted from WIP.

Time

All time values booked to time-charged projects / tasks.

Fixed Fees

The following examples show how WIP is calculated based on the task's Charge Timing setting.

It assumes the following;-

Client Fee:	£10,000
WIP Effective Date:	31st April 20**
Previous Invoice Run:	30th March 20**

Expenses

Click here for a list of columns and their descriptions.

Column	Description
Project	A project will appear in the WIP list if it has: ▪Some potential charges to invoice ▪Some deferred or written off charges ▪Some fee spend since the last invoice
Status	The status of the project
Currency*	The currency the project is to be invoiced in. The multi-currency is an optional module and will not be shown if you do not have a mix of currencies.
% Discount	If a discount percent has been allocated to a project, it is shown in this column. Discounts apply to fixed fee and time-charges only – not to expenses. The figures shown in the summary view are shown AFTER applying any the discounts. However, if editing, the figures to be edited are always shown BEFORE applying any discounts.
Agreed Invoice Limit	The invoice limits (if set) for the project.
Approved Invoices	The value of approved invoices already allocated to the project.
Draft Invoices	The value of draft invoices already allocated to the project. In general, draft invoices should be approved and sent to the client before generating any further charges.
Unallocated Prepayment	The amount of Timecharges that are available to be allocated to a prepayment invoice An invoice which can be produced in advance of timecharges being created in the system. The concept is that you can create a prepayment invoice to generate income prior to starting the project. Time is then allocated to this prepayment when it appears in WIP. Click here to find out how to create a prepayment invoice. .
Fees WIP	The value of fixed fee potential charges. ▪For tasks/projects charged on a percentage completion, this is: Fee value x % complete – previously invoiced ▪For tasks charged according to a monthly schedule, this is: Cumulative value of monthly schedules up to the effective WIP date – previously invoiced
Time WIP	Time WIP is the value of chargeable time up to the effective WIP date
Expenses WIP	Expenses WIP is the value of chargeable expenses up to the effective WIP date
Deferred	The value of WIP deferred. WIP can be deferred by double-clicking or clicking on the Edit icon in the first column. Deferring a charge withholds it from being invoiced until it us un-deferred. [Deferring effectively sets a deferred flag on the transaction (timesheet line, expense line etc.) which prevents it from being invoiced. The deferred flag stays set until it is manually cleared – it is NOT automatically unset by the invoice generation.]
Written Off	The value of WIP written off. Write-offs (or write-ups) generally only apply to time-charge work, although they can apply to expenses also. Fixed fees cannot be written off – effectively you achieve the same result by decreasing the % completion or scheduled payment. The difference between deferring and writing off is that a deferral is temporary whereas a write-off is permanent. Written off expense are not reported in the main summary grids. This is as a result of user feedback that it is preferred that expenses are not included in the written off column as it happens so frequently the figure tends to get muddied. Drilling down to expense detail does show where expenses have been written off.
Fee Spend since last invoice	The fee spend since the last invoice is shown as an indication of the amount of time that has been booked on fee based tasks since the last invoice at the charge rate. You will need to pay attention to this column if you are manually invoicing (ie not by % complete or schedule) your fixed fee projects as this indicates the value of work to be charged.
Total WIP	The total off all types of WIP; Fees WIP + Time WIP + Expenses WIP
Limit Remaining	The amount of the project Invoice Limit which is remaining. ie. Invoice Limit – Approved Invoices – Draft Invoices – Total WIP
In-Progress Time	The amount of time-charge WIP in in-progress timesheets. i.e. timesheets which are not yet approved. This time cannot be invoiced until it is approved but it is shown here for completeness. (It may be just one of the approvers is behind in approving time). By default this column is hidden – use the customise columns to show it.
Fees Time WIP	The total of the above two columns; Fees WIP + Time WIP. By default this column is hidden – use the customise columns to show it.