How PowerWIP Works
Extract financial transactions, estimates and purchase orders from Quickbooks Online and creates a Work In Progress(WIP) schedule.
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How Does PowerWIP Work?
PowerWIP extracts financial transactions, estimates and purchase orders from QuickBooks Online and creates a Work In Progress (WIP) schedule.
Each job on the WIP is connected to a PM job sheet that shows budget and actual costs for all major cost categories. The PM evaluates remaining budgets for each line and enters on each line the value of any savings or additional money needed to complete the project. All feedback from the PM flows directly into a savings/overrun column on the WIP.
Once the savings and overruns are reviewed and approved, PowerWIP posts those savings and overruns into Quickbooks Online with the click of a mouse.
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The Core Four
There are four key elements for every job. Financial managers can typically determine contract values and what’s been spent but are often frustrated and in the dark when it comes to figuring out the TRUE Total Estimated Costs.
Every job starts with an estimate; but it’s just that, an estimate. The company that knows where an estimate is wrong first, typically wins!
The Fifth Key Element
The Fifth Element is Savings & Overruns.
Original Estimates are often wrong.
What is often missed are the savings and overruns which can only come from the field, based on their knowledge of a job’s progress.
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One of our team members will take you through PowerWIP's features and be able to answer any questions you might have.
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Main Reasons to Use PowerWIP
Timeliness and Accuracy
Project Manager Engagement
Identify Cost Overrun
Improved Forecasting
No Upgrade to ERP
Access to Realtime Data
Client Reviews
Hear from businesses using PowerWIP
Timeliness and Accuracy of Information Affords Us Better Decision. Project Manager Engagement, Accountability, and Increased Communication. We have been able to Identify Cost Overruns Improving Overall Profitability.
Paul Richards
CEO
We have Improved Forecasting. Completely Removes need to upgrade to expensive ERP Platform and we have the Ability to Access our Data Anywhere, Anytime.
Tony Scruggs
President
Pre-requisites To Use PowerWIP
The only pre-requisite is using QuickBooks Online. During the PowerWIP onboarding process, customers are afforded the opportunity to review and make adjustments to further streamline their accounting/QBO processes.
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Need Help With Financial Clarity on Projects?Schedule a Demo
Improve communication between the field and finance, expose jobs that aren't performing and make quicker course corrections.