If the work in progress has a balance of € 0 or a value that is not correct this can be caused by the following:
The value of work in progress is determined by valuing the unbilled time at the set price template. If this is an hourly rate based template, the hours are multiplied by the set hourly rates to calculate the value of work in progress. If the balance of work in progress is € 0, this means that the set hourly rate is incorrect.
Note that the value of work in progress per time entry is recalculated every night. This means that if for example an hourly rate of € 0 was entered first and then changed to € 200, the value of work in progress is recalculated the next day. When billing, the value is always recalculated immediately.
Please note that rates can also be set per period. A time entry from last year can therefore be linked to a different hourly rate than a more recent time entry.
A fixed fee matter will receive a maximum of the value of the fixed fee as work in progress value. When the fixed fee amount is not yet reached, the work in progress value is calculated based on the standard hourly rates of the timekeepers who have written time.
Please sign in to leave a comment.