Billing for time
> Work in progress
Work in progress
Work you have done for your clients that you haven’t billed yet is called
work in progress
. Work in progress is indicated on activity slips by a value other than zero in the
Left to Bill
field.
Your accounting records will only reflect a sales transaction when you bill the activities. However, some accountants consider that, from an accounting perspective, your clients owe you for your work in progress even if you haven’t yet billed your clients for it.
If your work in progress routinely represents a significant amount of money, you should consider adjusting your accounting records to reflect it. Consult your accountant for advice on how to do this.
Related Topics
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Reviewing and changing activity slips
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