Anterra WIP Management

Anterra WIP Management

Anterra Work in Process Management & Reporting

Overview

Anterra has comprehensive WIP Management and WIP Reporting in the Construction BI module.  Typical menu access is located as shown below. Each client may have customized menus.



WIP Management Grid

The WIP Management grid is where users are able to make auto reversing entries within Anterra to adjust revenue recognition.  The WIP grid is consistent for all clients, we offer 3 standard WIP Pivot Grids that can be customized with any view you like.  They will be shown later in this article.

 The grid displays the following columns on the left side which allow you to make entries to adjust:

1) Revised Contract Value
2) Forecast Cost At Complete
3) JTD Cost



The right side of the grid continues on (note that the screen shot above ends at column "N", the shot below starts at column "L". 
​
We have also included a column in which users can simply enter a number for WIP % Complete - entering this single percentage creates a cost accrual entry to set the WIP % complete to the value entered rather than working through the other accrual adjustments: (If this row is being used you should not enter data into any other columns but the WIP % Override column. As this overrides all information entered.)

Columns T through Y reflect the values needed to make GL Entries, calculating Costs in Excess of Billings and Billings in Excess of Cost. 

Parameters



There are parameters at the top of the grid which allow you to select
1) Consolidation Group or individual company or division
2) Individual Project Managers
3) Jobs to include on the grid at the selected month end
      a) Jobs in Progress Today
      b) Open at the Selected Month End (allowing roll back to show jobs in progress at the selected month end)
      c) Active at the Selected Month End (jobs that are open at the selected month end or had activity in that month)
      d) Jobs with YTD activity - showing jobs with any cost or billing activity this calendar year
      This combination of options gives you the ability to roll back the WIP schedule to line up with the state it was in at the selected month end.
4) Month End - WIP is run at a month end, you can select the month end to view using this parameter

Sources of Data for the WIP Management Grid

All data on the grid comes from your accounting system except the Forecast Cost at Complete which is typically managed in Anterra by your project managers.

ASC 606 Considerations

For U.S. based clients, WIP Management needs to consider the ASC 606 accounting directive for earned value.  There are many resources online to describe the effects of this accounting rule change.  The largest impact is that companies are no longer able to include the cost of uninstalled materials in the earned value calculation.  The easiest way to handle this is to enter a negative number in the WIP Management grid - WIP Job Cost Accruals column.

Saving Data After Entry

After WIP adjustment entries have been made on the grid, the "Save Changes" button on the top right is highlighted, changes need to be saved before exiting the grid.   These  entries will be automatically reversed the following month.


 Work in Progress Reporting

Anterra has 5 standard WIP Pivot Grids



Each grid can be customized in our Anterra Pivot Grid Administration tool to include dozens of columns available in which to build reports. 

For example the WIP report for Jobs with YTD Activity (shown below), gives users the ability to pivot / filter / sort and save as many views as you like.  Views can be created and shared by a grid administrator or each user may create and save "My Views".


Please contact your Anterra Consultant to discuss your WIP reporting needs.


 


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