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We want to understand how the WIP is calculated for type Sales Value. When are the Item Cost Applied Account and Resource COst APplied account in the JOB Posting Setup being Used? Also, we managed to set up the posting and calculated the WIP however the Sales APplied Account is debiting the Sales and Debiting the WIP upon completion thus rendering the Sales to 0 and WIP with a negative balance rather than the other way around.
Following. Facing the same problem!
Hi Thanks Daniel & Marco for your response, however we are looking for a more advance detail into the nominal postings of the WIP unfortunately we have not yet found sufficient material to cover this. We are still yet understanding why do we require a Sales Applied account and cost applied account in the income statement knowing that we already have a Recognized Sale & Costs accounts in place already. And also with regards to costs I can have costs which are related to Items and Others to resources and I need to spilt those applied costs to their specific nominal accounts. For example in the cost of sales I have the cost of sales account for the items and a separate one for the resources. The Job Posting groups do cater for that however with our testing of the WIP postings so far these nominal accounts that we set in the JOB Posting group (Resource Cost Applied Acc & Item Cost Applied Acc) are not being used.
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