{"id":9259,"date":"2023-06-30T12:25:00","date_gmt":"2023-06-30T12:25:00","guid":{"rendered":"https:\/\/help.gjgardner.com\/?p=9259"},"modified":"2023-06-30T12:44:07","modified_gmt":"2023-06-30T12:44:07","slug":"refining-work-in-progress-totals-for-better-accuracy","status":"publish","type":"post","link":"http:\/\/help.gjgardner.com\/nz\/2023\/06\/30\/refining-work-in-progress-totals-for-better-accuracy\/","title":{"rendered":"Refining Work In Progress Totals for Better Accuracy"},"content":{"rendered":"<h2 class=\"wp-block-heading\"><strong>What\u2019s Changing<\/strong><\/h2>\n\n\n\n<p>In our ongoing endeavor to improve reporting accuracy, we&#8217;re updating how we calculate the Work In Progress (WIP) totals for DPP jobs. Moving forward, we&#8217;ll utilize the total amount from all overpayments received, rather than the estimated contract value. This update aims to provide more precise WIP figures and a more accurate representation of contract values..<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"484\" src=\"https:\/\/help.gjgardner.com\/wp-content\/uploads\/2023\/06\/image-2-1024x484.png\" alt=\"\" class=\"wp-image-9260\" srcset=\"https:\/\/help.gjgardner.com\/wp-content\/uploads\/2023\/06\/image-2-1024x484.png 1024w, https:\/\/help.gjgardner.com\/wp-content\/uploads\/2023\/06\/image-2-300x142.png 300w, https:\/\/help.gjgardner.com\/wp-content\/uploads\/2023\/06\/image-2-768x363.png 768w, https:\/\/help.gjgardner.com\/wp-content\/uploads\/2023\/06\/image-2-50x24.png 50w, https:\/\/help.gjgardner.com\/wp-content\/uploads\/2023\/06\/image-2-1536x726.png 1536w, https:\/\/help.gjgardner.com\/wp-content\/uploads\/2023\/06\/image-2-18x9.png 18w, https:\/\/help.gjgardner.com\/wp-content\/uploads\/2023\/06\/image-2-60x28.png 60w, https:\/\/help.gjgardner.com\/wp-content\/uploads\/2023\/06\/image-2-100x47.png 100w, https:\/\/help.gjgardner.com\/wp-content\/uploads\/2023\/06\/image-2.png 1600w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Key Highlights:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>DPP WIP calculation will now be based on overpayments received, not estimated contract value<\/li>\n\n\n\n<li>The new method ensures more accurate WIP totals<\/li>\n\n\n\n<li>Adjustments take into account GST<\/li>\n\n\n\n<li>DPP Job Estimates now reflect deposits taken<\/li>\n\n\n\n<li>Multiple DPP overpayments are reflected on WIP without the need to make any changes in G.J. Software&nbsp;<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Who\u2019s Impacted&nbsp;<\/strong><\/h2>\n\n\n\n<p>This update will be relevant to all offices that use DPP jobs.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Why it Matters<\/strong><\/h2>\n\n\n\n<p>Accurate financial reporting is key to your business&#8217;s success. By refining our WIP totals, we&#8217;re helping you to achieve a more precise understanding of your contract values and financial status. This will empower your strategic decision-making process.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Additional Details&nbsp;<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>WIP doesn\u2019t consider estimated contract value:<\/strong> Our new calculation process utilizes the total amount from all credit notes received for a DPP job, instead of the estimated contract value. This ensures more accurate WIP figures.<\/li>\n\n\n\n<li><strong>WIP calculated from overpayments in Xero:<\/strong> Our revised method considers overpayments, making sure they are properly reflected in the WIP totals.<\/li>\n\n\n\n<li><strong>WIP considers GST:<\/strong> The revised calculation process takes into account GST, where applicable, making necessary adjustments.<\/li>\n\n\n\n<li><strong>DPP Job Estimate:<\/strong> Estimates for DPP jobs should always be reviewed to ensure it doesn&#8217;t exceed overpayments received for each job<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"636\" src=\"https:\/\/help.gjgardner.com\/wp-content\/uploads\/2023\/06\/image-3-1024x636.png\" alt=\"\" class=\"wp-image-9261\" srcset=\"https:\/\/help.gjgardner.com\/wp-content\/uploads\/2023\/06\/image-3-1024x636.png 1024w, https:\/\/help.gjgardner.com\/wp-content\/uploads\/2023\/06\/image-3-300x186.png 300w, https:\/\/help.gjgardner.com\/wp-content\/uploads\/2023\/06\/image-3-768x477.png 768w, https:\/\/help.gjgardner.com\/wp-content\/uploads\/2023\/06\/image-3-50x31.png 50w, https:\/\/help.gjgardner.com\/wp-content\/uploads\/2023\/06\/image-3-1536x953.png 1536w, https:\/\/help.gjgardner.com\/wp-content\/uploads\/2023\/06\/image-3-18x12.png 18w, https:\/\/help.gjgardner.com\/wp-content\/uploads\/2023\/06\/image-3-60x37.png 60w, https:\/\/help.gjgardner.com\/wp-content\/uploads\/2023\/06\/image-3-100x62.png 100w, https:\/\/help.gjgardner.com\/wp-content\/uploads\/2023\/06\/image-3.png 1600w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\"><em>WIP totals for DPP jobs were previously calculated from the <\/em><strong><em>Est. Contract Price<\/em><\/strong><em> field in the DPP jobs\u2019 details. This value is used in reports like Sales Profit Forecast (YTD), Job Profit, and Builders Insurance Report.<\/em><\/figcaption><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"573\" src=\"https:\/\/help.gjgardner.com\/wp-content\/uploads\/2023\/06\/image-4-1024x573.png\" alt=\"\" class=\"wp-image-9262\" srcset=\"https:\/\/help.gjgardner.com\/wp-content\/uploads\/2023\/06\/image-4-1024x573.png 1024w, https:\/\/help.gjgardner.com\/wp-content\/uploads\/2023\/06\/image-4-300x168.png 300w, https:\/\/help.gjgardner.com\/wp-content\/uploads\/2023\/06\/image-4-768x430.png 768w, https:\/\/help.gjgardner.com\/wp-content\/uploads\/2023\/06\/image-4-50x28.png 50w, https:\/\/help.gjgardner.com\/wp-content\/uploads\/2023\/06\/image-4-1536x860.png 1536w, https:\/\/help.gjgardner.com\/wp-content\/uploads\/2023\/06\/image-4-18x10.png 18w, https:\/\/help.gjgardner.com\/wp-content\/uploads\/2023\/06\/image-4-60x34.png 60w, https:\/\/help.gjgardner.com\/wp-content\/uploads\/2023\/06\/image-4-100x56.png 100w, https:\/\/help.gjgardner.com\/wp-content\/uploads\/2023\/06\/image-4.png 1597w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\"><em>Now WIP totals for DPP jobs are calculated by the sum of all overpayments from Xero.<\/em><\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Getting Started<\/strong><\/h2>\n\n\n\n<p>Please take note that with this new update, all overpayments and GST (where applicable) will now affect the calculation of your WIP totals for DPP jobs. There is no end-user setting for this feature.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Rollout Pace&nbsp;<\/strong><\/h2>\n\n\n\n<p>The refined WIP totals will be effective as of 27 June 2023 in the US and rolled out to AU and NZ users on 5 July 2023.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Resources<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"http:\/\/help.gjgardner.com\/nz\/hc\/reports\/manager-reports\/manager-wip-profit-adjustment\/\">WIP \u2013 Profit Adjustment<\/a><\/li>\n\n\n\n<li><a href=\"http:\/\/help.gjgardner.com\/nz\/hc\/xero\/how-to-create-an-overpayment-for-dpp-and-claim-sale-in-xero\/\">How to create an overpayment for DPP and Claim\/Sale in Xero<\/a><\/li>\n<\/ul>","protected":false},"excerpt":{"rendered":"<p>What\u2019s Changing In our ongoing endeavor to improve reporting accuracy, we&#8217;re updating how we calculate the Work In Progress (WIP) totals for DPP jobs. Moving forward, we&#8217;ll utilize the total amount from all overpayments received, rather than the estimated contract value. This update aims to provide more precise WIP figures&#8230;<\/p>","protected":false},"author":21,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[207,106],"tags":[268],"class_list":["post-9259","post","type-post","status-publish","format-standard","hentry","category-accounts","category-gj-software","tag-work-in-progress"],"_links":{"self":[{"href":"https:\/\/help.gjgardner.com\/nz\/wp-json\/wp\/v2\/posts\/9259"}],"collection":[{"href":"https:\/\/help.gjgardner.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/help.gjgardner.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/help.gjgardner.com\/nz\/wp-json\/wp\/v2\/users\/21"}],"replies":[{"embeddable":true,"href":"https:\/\/help.gjgardner.com\/nz\/wp-json\/wp\/v2\/comments?post=9259"}],"version-history":[{"count":3,"href":"https:\/\/help.gjgardner.com\/nz\/wp-json\/wp\/v2\/posts\/9259\/revisions"}],"predecessor-version":[{"id":9272,"href":"https:\/\/help.gjgardner.com\/nz\/wp-json\/wp\/v2\/posts\/9259\/revisions\/9272"}],"wp:attachment":[{"href":"https:\/\/help.gjgardner.com\/nz\/wp-json\/wp\/v2\/media?parent=9259"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/help.gjgardner.com\/nz\/wp-json\/wp\/v2\/categories?post=9259"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/help.gjgardner.com\/nz\/wp-json\/wp\/v2\/tags?post=9259"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}