Refer to a friend

 
The Email had been successfully send.
Close
Total Synergy is live

 

Post

WIP projects into shape with project valuation

Here’s one for practice directors and accountants – Synergy Project Valuation allows AEC businesses to understand the value of projects based on actual earned revenue value, not just what is sitting in WIP.

Ask these questions of your projects: What is the real valuation of work in progress (WIP) on my balance sheet? Have I got the correct revenue in my profit and loss (P&L)? How can I spread my revenue to reflect the actual work performed? Should I deduct a forward invoice from the project valuation?

All of these questions are answered with Project Valuation.

By comparing the value of invoices, and the total charges, against the actual work performed, you can understand and value the real progress of the project, not just the invoiced progress.

Project Valuation provides two outcomes:

  • Validation of the earned project as a complete percentage as opposed to the invoiced percentage on fixed-value projects. For hourly rate projects it allows users to estimate the value of what can be invoiced rather than take the total charge at face value.
  • A value (used primarily by accountants and auditors) that validates the WIP value for the profit and loss and balance sheet account. This may include positive or negative values.
Project Valuation is a complex module and there’s more to it, so get in touch if you want to find out how it works in full. Your accountant will love you!

Ask us about Project Valuation today!

enquire-about-timesheets