I am having a memory blank at the moment and cannot remember the simple formula for calculating WIP.
Please see my example below, if anyone can remind me of the formula I would appreciate it!
|Contract||Contract £||Est Cost £||Profit||Act Revenue||Act Cost||Commitments||Total Spend to date||WIP / Provision|
|abc||£ 10,000.00||£ 8,000.00||£ 2,000.00||£ 2000.00||£ 3,000.00||£ 500.00||£ 3,500.00||?????|