Work in process is inventory in motion - materials consumed but not yet finished goods. P4 Books tracks WIP value accurately so your financial statements reflect production reality.
When WIP isn't tracked properly, you don't know what inventory value is tied up in production. Financial statements are wrong. Cash flow surprises hit when production stalls.
WIP can represent 20-40% of a manufacturer's total inventory value. Getting it wrong means your inventory asset on the balance sheet is materially misstated - a serious financial reporting issue.
Track production inventory with precision
See current WIP value at any moment. Sum of all materials, labor, and overhead charged to open work orders.
Each work order accumulates costs as materials are issued and labor is charged. WIP detail by work order.
When production completes, WIP is relieved and finished goods are created. Automatic inventory transfers.
WIP postings flow to general ledger automatically. Raw to WIP to FG - all journal entries created.
Identify stale WIP - work orders open too long. Flag production issues before they become write-offs.
WIP summary by work order, by product, by work center. Detail for auditors and management review.
WIP tracking ensures your inventory accounts are always correct.
Inventory asset includes accurate WIP valuation. No month-end surprises.
When production completes, costs flow correctly to COGS. Proper matching of revenue and expense.
Full documentation of WIP valuation methods. Auditors can trace any value to source transactions.
Always current WIP values
GL matches subledger
Drill to transactions
Simplified month-end
Know exactly what inventory value is tied up in production.