WIP reports comparison: WIP Reconciliation to Historic WIP
WIP reports, such as
WIP by Client
and WIP Summary — Client
are live reports. They exclude WIP that you've written off, even if you've applied the write-off after the date range you select. By comparison, the WIP reconciliation Report
shows the figures as they were at the dates you select.Historic WIP
reports show the actual amount of WIP outstanding at the end of the day you select, so that you can compare this to your closing balance on the WIP Reconciliation
report.You can also compare the opening balance on the
WIP Reconciliation
report to the Historic WIP
report for the end of the day before. For example, if you run the WIP Reconciliation
report for the period 1 August to 31 August, the Historic WIP
report for 31 July will equal the opening amount and the Historic WIP
report for 31 August will equal the closing balance.