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Dynamics 365 Community / Forums / Microsoft Dynamics AX (Archived) / Posting project cost f...
Microsoft Dynamics AX (Archived)

Posting project cost from balance sheet to profit and loss

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Posted on by Mohammed Atef Rasheed 2,475

If we have the below scenario. the business need is to post first the cost to WIP account then we need to move it to Profit and Loss Account.

Fixed Price Project 

Post Cost = Balance 

Revenue Recognition Accounting Rule = Completed percentage

When post project expense, AX will post to "Project - WIP cost" account. how to move the posted transaction from "Project - WIP cost" account to "Project - cost" account  ? 

We are doing adjustment journal to move posted expenses from line property to another one so account will be moved. is there another way to do it?  

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  • Suggested answer
    André Arnaud de Calavon Profile Picture
    André Arnaud de Cal... 301,130 Super User 2025 Season 2 on at

    Hi Mohammad,

    You can use the posting of Estimates. You have to create and link the project to estimate projects in that case. Have a look at the documentation: technet.microsoft.com/.../aa551639.aspx

  • David Massey Profile Picture
    David Massey on at

    The estimate process will handle moving between Balance sheet and P/L depending on the Project Group settings.

    Are you sure that you should be using a Fixed Price project type?  This project type is tied to an accounting method typically used for construction or long term contracts. If you are only concerned with a Fixed Bid amount, it may not be the correct accounting method (project type) to be used.

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