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Retroactive WIP Calculator

JCMHMasonry Technology Retroactive WIP Calculator

Retroactive WIP Calculator

The Upside: With the recent PSA upgrades one of the great features is the retroactive wip calculator. In the past when you changed the margin to fall in line with the budget if the job had already been wipped it was only any wip run after the change that was affected and calculated at the new margin. Now what this does is update the wip revenue based on the set margins. And back out over calculated revenue from previous wip calculator runs. The danger of overstated revenue no longer exists Yahoo!

The Down Side: If you have taken the revenue adjustment but not closed the job and not adjusted the margin to actual the wip calculator will back out what you have already done the next time you run it.

How does that affect you?

In the case jobs that remain open in the system for monthly charges may have the revenue adjustment done monthly to bring that revenue over to the income statement. If that job remains open and you do not adjust to actual margin at the beginning of the following month the system will run a wip calculator adjusting the calculated wip to the set margin. In these jobs (usually time and material contracts for janitorial work) the margin is a moving target UNLESS YOU ARE ENTERING A BUDGET and predicting the actual is difficult. You may choose in the new PSA to begin closing these jobs monthly and duplicating the job for the new month or making sure you enter a budget for every month the job remains open.

In the case of PSA users that do not update and change their margins based on budget numbers in a timely manner this can create issues where the previous month.

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