Stock Work in Progress (WIP)

Using an additional Stock Warehouse as a Work in Progress (WIP)  warehouse, when stock is issued to a Job, it can be issued or transferred to the WIP warehouse. Only once the stock is actually used during the course of the Job, does it get issued out of the WIP warehouse. This may not be a factor when the Jobs are low value and of short duration, but for many businesses, it is critical to control the value of WIP products. Working in this manner can reduce stock losses and ensure that stock is not left unused for long periods. Have a WIP warehouse also ensure a healthier Balance Sheet as the stock is still shown as an asset.