Understanding the dashboard
The Aged WIP Dashboard tracks the number of days work has been recorded but not yet billed, helping firms monitor unbilled work over time. It categorises WIP into aging buckets (e.g., 0-30, 31-60, 61-90, and 91+ days) to highlight overdue jobs that may be at risk of write-offs. By analysing these aging trends, firms can identify inefficiencies in work completion, ensure timely invoicing, and take proactive steps to prevent revenue loss.
Why is it important?
The Aged WIP Dashboard allows you to:
Address aged WIP items quickly to enhance the likelihood of successful recovery and timely invoicing.
Reduce the risk of write-offs by actively monitoring and addressing overdue WIP balances, ensuring smoother financial operations.
Explore the Aged WIP Dashboard by clicking through the interactive demo below!
Interactive demo
(Click the top-right play button to start the voiceover)
Dashboard FAQs
What is the formula for Aged WIP?
Aged WIP refers to the number of days work has been recorded but not yet billed, helping identify delays, inefficiencies, and jobs at risk of write-offs. Formula: Aged WIP = Days between the WIP record date and today.