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JOB WIP Calculation Sales Value

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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.

  • IanCaruana Profile Picture
    IanCaruana 5 on at
    RE: JOB WIP Calculation Sales Value

    Following. Facing the same problem!

  • Larry Muscat Profile Picture
    Larry Muscat 5 on at
    RE: JOB WIP Calculation Sales Value

    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.

  • Suggested answer
    DAnny3211 Profile Picture
    DAnny3211 9,272 Super User 2024 Season 1 on at
    RE: JOB WIP Calculation Sales Value

    hi

    look this

    learn.microsoft.com/.../projects-understanding-wip

    DAniele

  • Suggested answer
    Marco Mels Profile Picture
    Marco Mels on at
    RE: JOB WIP Calculation Sales Value

    Hello,

    Hopefully this gives you a good start:

    learn.microsoft.com/.../

    Thank you.

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