All Entries Tagged With: "WIP"

Manufacturing WIP in QuickBooks

Tracking Work in Progress (WIP) in a manufacturing business can be complicated, depending on the characteristics of your manufacturing process. For an extremely oversimplified definition we can say that WIP is where you are taking items out of your raw material (component) inventory, but haven’t yet put it back into your finished goods inventory. I’m going to offer a tip on a short method of managing this in QuickBooks that may work for many manufacturers.