Work-in-Progress Reporting
Ask The Surety Pro – Rich Anderson On How Surety Companies View Overbillings & Profit Recognition
Overbilling is like borrowing from your future work — smart contractors manage it carefully to gain strategic advantages without risking their companies. In today’s episode of Ask The Surety Pro (2:39), our Co-Founder, Rich Anderson, shares insights into how surety companies view overbillings and profit recognition. Check it out — this one’s packed with insights…
Read MoreAsk The Surety Pro – Rich Anderson Breaks Down How Sureties View Underbillings as a Red Flag
A contract underbilling late in a project can mask cost overruns or unaccounted expenses. In today’s episode of Ask The Surety Pro (2:03), our Co-Founder, Rich Anderson, breaks down how sureties view underbillings as a potential red flag—especially as a project nears completion. Click to watch!
Read MoreHow is a Work-In-Progress Report Used to Determine Bonding Capacity?
Brent Headley, Surety Account Executive at Anderson & Catania Surety Services LLC, underscores the important role a WIP report plays in a contractor’s bonding capacity. How Is The WIP Utilized To Make Management Decisions? The main purpose of a work-in-progress (WIP) report is to analyze and track profitability on open projects. Fading project profitability can…
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