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At what point does the Accrued loss accounting being hit? What transaction hit this account?
I have an Investment project. The project group post to the Balance Sheet.
Since it's an investment project, we don't invoice the customer.
I'm trying to understand the purpose of using the Accrued loss account. Thanks so much for your feedback!
The accrued loss is used in fixed price projects. If the estimation calculation turns out that there will be a loss on the project, it will use this account.
Thanks, Andre', for your response. So I wouldn't need this account if I use The Investment Project, correct?
For fixed-price and investment projects, you can choose to recognize losses during estimation. If you recognize losses, you must specify the category to use for accruing losses in the Project groups form.
Here is the link which might help you in understand the same:
Hope this helps You!!!
One important application is what Saurabh mentioned.
Imagine you have an investment type project where you accumulated 50000 EUR of costs.
Imagine further that your accounting regulations only allow activating 45000 EUR as fixed asset value.
The 5000 EUR difference can automatically be posted as 'accrued loss' at the time you run the estimate and activate the fixed asset.
With what reason would regulation restricted companies, in this example, from putting the whole 50,000 EUR into FA? If that is the case, would D365 knows to put the 5,000 EUR into Accrued Loss? Thanks.
Thanks, Saurabh, for your feedback.
In my home country we have specific (tax) rules that specify what can and what can't be shifted to a FA.
Especially auditors always find something to criticize :-) and want that specific cost transactions are expensed directly.
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