We use a Work in Progress (WIP) sheet for all of our projects to provide an overview. This sheet includes both ongoing and bidding projects. Its purpose is to track costs and provide a status overview. Keeping this sheet up to date is crucial for the MT team. They use it to monitor invoicing and follow up on purchase orders (POs).
The following explanation will guide you on how to use the WIP sheet as a Post Producer.
Post Budget
You calculate this number based on the approved quote. If it is a project with a shoot, then you subtract the following costs: