Percentage of Completion AKA: Progress Invoice

By |2021-08-01T20:25:20-05:00January 21st, 2020|

Introduction The percentage of completion (AKA: Progress Invoicing) method is an accounting method in which the revenues and expenses of long-term contracts are recognized as a percentage of the work completed during the period. Example: You sell a job for $30,000 and it is going to take thirty days to complete. You are allowed to