Financial statements are a window into the health of your business. Learn how to prepare profit and loss, balance sheet and cash flow reports using QuickBooks.

How Does Work in Progress Affect the Balance Sheet?. For a manufacturing company, work in progress is created when items are part-way through the production process.

The system will produce a more proper income statement and balance sheet than if you use Excel. If you are running QuickBooks and haven't purchased the Enterprise version you will not find the WIP ...