Progress Billings

Progress billings are a function of invoicing customers for work completed to date for construction projects. All billings and deposits for the respective projects are located in the current liabilities section of the the balance sheet.

Progress Billings in Construction

Progress Billings

Just like a tip of an iceberg, a progress billing for a construction project is an invoice for a small part of the overall contract value.  It needs to be recorded correctly and presented to management in a way that is understandable and beneficial for making decisions.  This article will introduce the concept and cover how progress billings are presented on the balance sheet.

Follow by Email
Facebook
Google+
https://businessecon.org/tag/progress-billings">
Twitter
LinkedIn