WIP and adjustments

See open project work by revenue period and document changes. The WIP balance brings open work, invoiced amounts, write offs, adjustments and aging into a project and revenue period. An adjustment records its type, amount, reason, requester and approver. A billing hold records why a project is paused and who placed or released it. These records make the change reviewable before billing proceeds.

• Identify the project. Confirm the customer, contract and project belong to the same engagement.
• Check the source. Compare dated source records with the period and amount under review.
• Keep the decision. Record the person, status and reason at each approval or exception.

Agree how often balances are recomputed, which period is open for adjustments, and how disputed work is identified. The team should reconcile the WIP balance to billable entries and issued invoices. Preserve the original reason when a signed adjustment is approved; do not silently change the source work.

Consider a project with older unbilled hours and a change order still under discussion. Project manager reviews the aging buckets and places a hold with a reason. Controller reviews a proposed write down in the same period. When the commercial question is resolved, the release date and releasing resource show when billing could resume. When the amount differs from the customer’s expectation, follow the linked source and decision records with the responsible person. A dated approval or status change should explain the next action. Keep corrections visible to the next person in the cycle, and confirm the project and customer match before the invoice leaves the team.

Read the balance for the same project and revenue period as the invoice under review. Its open amount, invoiced amount, written off amount and aging buckets explain the remaining work. A signed adjustment has a reason, requester, approver and period; Controller approves it before the team treats it as final. A project hold blocks invoice generation while active. Project manager and billing specialist should check its reason and releasing resource before restarting the billing run.

• My Project WIP — My Project WIP shows provisional project balances and the oldest aging bucket for project manager review.
• Invoice Status Board — Follow the invoice status from draft through sent after the team checks its source and approval.

Start with project terms, then follow invoice preparation and period close. The data model shows the record links used at each handoff.