Update Work In Progress

Use the Update Work In Progress screen to enter work in progress (WIP) details by project or by cost code.

Work in progress details can include:
  • percent complete
  • cost to complete
  • total cost at completion
  • projected costs
  • projected quantities and projected units, depending on the percent complete method.
If you use Update Work In Progress regularly, you can track progress on projects and compare the progress to the budget.
Note:

To open the Update Work In Progress screen, click Projects > Update Work In Progress in the All Tasks pane.

Use the Project Totals pane to review the impact of the work in progress entries on the project, including costs, budget, billing, and profit. The bar graph shows profit amounts for prior, current, and estimated completion amounts.

The specific calculations ProContractor uses to determine percent complete and cost to complete depend on the percent complete basis you've selected in the Project Settings screen and the percent complete method set for the project or cost code. These examples inform how you might choose to make those selections.

Example 1: Percent Complete Basis is Cost at Completion and Percent Complete Method is COST - %

Suppose that your budget is $15,000 and your posted costs are $3,000. ProContractor automatically calculates cost to complete, percent complete, and cost at completion as shown below.

Cost to Complete

Percent Complete

Cost at Completion

Calculation

Budget - Cost

Cost/(Cost + Cost to Complete)

Cost to Complete + Cost

Value

$12,000

20%

$15,000

Note: If needed, you can manually update the cost to complete, percent complete, and cost at completion in the Update Work In Progress screen.

If you manually update the percent complete:

When you manually update the percent complete, ProContractor will recalculate cost to complete and cost at completion as:

Let’s say that you manually increase the percent complete to 45%. Based on this update, the following values will be calculated:

If you manually update the cost to complete:

When you manually update the cost to complete, ProContractor will recalculate percent complete and cost at completion as:

Let's say that you manually decrease the cost to complete to $6,000. Based on this update, the following values will be calculated:

If you manually update the cost at completion:

When you manually update the cost at completion, ProContractor will recalculate cost to complete and percent complete as:

Let’s say you manually decrease the cost at completion to $13,000. Based on this update, the following values will be calculated:

Example 2: Percent Complete Basis is Cost at Completion and Percent Complete Method is COST - %

Suppose that your budget is $15,000 and your posted costs are $3,000. ProContractor automatically calculates cost to complete, percent complete, and cost at completion as shown below.

Cost to Complete

Percent Complete

Cost at Completion

Calculation

1 - (Cost/Budget)) x Budget

1 - (Cost to Complete/Budget)

Cost to Complete + Cost

Value

$12,000

20%

$15,000
Note: If needed, you can manually update the cost to complete, percent complete, and cost at completion in the Update Work In Progress screen.

If you manually update the percent complete:

When you manually update the percent complete, ProContractor will recalculate cost to complete and cost at completion as:

Let’s say that you manually increase the percent complete to 45%. Based on this update, the following values will be calculated:

If you manually update the cost to complete:

When you manually update the cost to complete, ProContractor will recalculate percent complete and cost at completion as:

Let's say that you manually decrease the cost to complete to $6,000. Based on this update, the following values will be calculated:

If you manually update the cost at completion:

When you manually update the cost at completion, ProContractor will recalculate cost to complete and percent complete as:

Let’s say you manually decrease the cost at completion to $13,000. Based on this update, the following values will be calculated:

Example 3: Percent Complete Basis is Cost at Completion, and Percent Complete Method is Hours

Suppose that your budget is $15,000 and your posted costs are $3,000. In addition, 45 hours have been posted out of a budgeted allotment of 120. ProContractor automatically calculates cost to complete, percent complete, and cost at completion as shown below.

Cost to Complete

Percent Complete

Cost at Completion

Calculation

(1- (Posted Hours/Budget Hours)) x Budget

Cost/(Cost + Cost to Complete)

Cost to Complete + Cost

Value

$9,375

24.24%

$12,375
Note: If needed, you can manually update the percent complete to 100% when the work is finished.
When you manually update the percent complete, ProContractor will recalculate cost to complete and cost at completion as:

If the percent complete is updated to 100%, the following values will be calculated for cost to complete and cost at completion:

Note that you cannot manually update the cost to complete or cost at completion when the percent complete method is HOURS.

Example 4: Percent Complete Basis is Budget and Percent Complete Method is HOURS

Suppose that your budget is $15,000 and your posted costs are $3,000. In addition, 45 hours have been posted out of a budgeted allotment of 120. ProContractor automatically calculates cost to complete, percent complete, and cost at completion as shown below.

Cost to Complete

Percent Complete

Cost at Completion

Calculation

(1- (Posted Hours/Budget Hours)) x Budget

1 - (Cost to Complete/Budget)

Cost to Complete + Cost

Value

$12,000

37.50%

$12,375
Note: If needed, you can manually update the percent complete to 100% when the work is finished.
When you manually update the percent complete, ProContractor will recalculate cost to complete and cost at completion as:

If the percent complete is updated to 100%, the following values will be calculated for cost to complete and cost at completion:

Note that you cannot manually update the cost to complete or cost at completion when the percent complete method is HOURS.

Example 5: Percent Complete Basis is Cost at Completion and Percent Complete Method is UNITS

Suppose that your budgeted dollars for a given cost code is $35,000 and your budgeted quantity is 45 bricks. You have posted costs of $4,200. In the Update Work In Progress screen, you enter a Quantity Completed value of 22. ProContractor calculates cost to complete, percent complete, and cost at completion as shown below.

Cost to Complete

Percent Complete

Cost at Completion

Calculation

(1- (Quantity Completed/Budget Quantity)) x Budget

Cost/(Cost + Cost to Complete)

Cost to Complete + Cost

Value

$17,889

19.01%

$22,088.89
Note: If needed, you can manually update the percent complete to 100% when the work is finished.
When you manually update the percent complete, ProContractor will recalculate cost to complete and cost at completion as:

If the percent complete is updated to 100%, the following values will be calculated for cost to complete and cost at completion:

Note that you cannot manually update the cost to complete or cost at completion when the percent complete method is UNITS.

Example 6: Percent Complete Basis is Budget and Percent Complete Method is UNITS

Suppose that your budgeted dollars for a given cost code is $35,000 and your budgeted quantity is 45 bricks. You have posted costs of $4,200.

In the Update Work in Progress screen, you enter a Quantity Completed value of 22. ProContractor calculates cost to complete, percent complete, and cost at completion as shown below.

Cost to Complete

Percent Complete

Cost at Completion

Calculation

(1- (Quantity Completed/Budget Quantity)) x Budget

1 - (Cost to Complete/Budget)

Cost to Complete + Cost

Value

$17,889

48.89%

$22,088.89
Note: If needed, you can manually update the percent complete to 100% when the work is finished.

When you manually update the percent complete, ProContractor will recalculate cost to complete and cost at completion as:

If the percent complete is updated to 100%, the following values will be calculated for cost to complete and cost at completion:

Note that you cannot manually update the cost to complete or cost at completion when the percent complete method is UNITS.

Calculations that may not work as you intend

When the percent complete basis is Cost at Completion, there are two scenarios in which the work in progress calculations may work differently than you might expect:

Scenario 1 - if there are posted costs, percent complete cannot be set to 0

Suppose that your budget is $4,000 and your posted costs are $1,000. Even though there are posted costs, you want to decrease the percent complete to 0.

In this situation, ProContractor performs these actions:
  • Updates cost to complete to the remaining budget amount
  • Recalculates cost at completion as Cost to Complete + Cost
  • Recalculates percent complete as Cost/(Cost + Cost to Complete)
The results are shown below.

Cost to Complete

Percent Complete

Cost at Completion

$4,000
Note:

20% - not 0%

$5,000

Scenario 2 - if there are no posted costs, percent complete values are limited to 0 or 100.

Suppose that your budget is $4,000 and there are no posted costs, but you want to increase the percent complete to show that you have begun work.

If there are no posted costs, percent complete values between 0 and 100 are not accepted and the only acceptable change is to set it to 100%. If you opt to make this change, ProContractor updates both the cost to complete and cost at completion to 0.
Note: If you opt to change the percent complete to 100% on a cost code or a project, ProContractor:
  • updates both the cost to complete and cost at completion to 0.
  • stops automatically calculating the percent complete. From that point forward, you must manually update the percent complete for that cost code or project using the Update Work In Progress screen.

Cost to Complete

Percent Complete

Cost at Completion

$0

100%

$0
If you later decrease the percent complete to 0, ProContractor recalculates the cost to complete and cost at completion:
  • Cost to complete is calculated using the appropriate equation based on the percent complete method (for example, cost to complete will be calculated as Budget - Cost if the percent complete method is COST, COST-%, or %)

  • Cost at completion is calculated as Cost to Complete + Cost

Cost to Complete

Percent Complete

Cost at Completion

$4,000

0%

$4,000

Use the Project Totals pane to review the impact of the work in progress entries on the project, including costs, budget, billing, and profit. The bar graph shows profit amounts for prior, current, and estimated completion amounts.