Even though, the consulting engineering company Arne Elkjær A/S has more than 60 years of experience, they are aware that it is important that the work approach is kept up to date and that is done by constantly developing themselves. As part of the development, business partner Jakob Byskov was hired two years ago and since then Stine Groth Bertsen has joined the company in a new position as project planner. Læs mere
In AutoPilot Work in Progress (WIP) tells us what the value of the stock is. The trick is here to determine the value of the stock as accurately as possible. Basically, it is about the value of produced own work, subcontracted work and expenses. To determine the value of WIP the work that has already been invoiced is deducted. In this blog, we will explain why written off expenses feature as value in WIP for lump sum work packages even though they cannot be invoiced.